Abbreviated Company Accounts - WHITEREED LIMITED

Abbreviated Company Accounts - WHITEREED LIMITED

WHITEREED LIMITED - Company Information

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Registered Number 07562636

WHITEREED LIMITED

Abbreviated Accounts

31 March 2016

WHITEREED LIMITED Registered Number 07562636

Abbreviated Balance Sheet as at 31 March 2016

Notes 2016 2015
£ £
Fixed assets
Intangible assets 2 19,000 38,000
Tangible assets 3 1,645 4,308
20,645 42,308
Current assets
Stocks 20,700 18,500
Debtors 7,500 11,395
Cash at bank and in hand 13,918 3,316
42,118 33,211
Creditors: amounts falling due within one year (45,680) (56,441)
Net current assets (liabilities) (3,562) (23,230)
Total assets less current liabilities 17,083 19,078
Creditors: amounts falling due after more than one year (3,241) (4,989)
Total net assets (liabilities) 13,842 14,089
Capital and reserves
Called up share capital 4 100 100
Profit and loss account 13,742 13,989
Shareholders' funds 13,842 14,089
  • For the year ending 31 March 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 31 December 2016

And signed on their behalf by:
S A Savva, Director

WHITEREED LIMITED Registered Number 07562636

Notes to the Abbreviated Accounts for the period ended 31 March 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represnts the net invoiced sales of services, excluding value added tax.

Tangible assets depreciation policy
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful economic life:

Plant and machinery etc. - 33% on cost and 20% on cost

Intangible assets amortisation policy
Goodwill, being the the amount paid in connection with the acquisition of the trading business in 2012, is being amortised evenly over its estimated useful economic life of five years.

Other accounting policies
Stocks
Work in progress represents the assessed value of work unbilled at the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date.

2Intangible fixed assets
£
Cost
At 1 April 2015 95,000
Additions -
Disposals -
Revaluations -
Transfers -
At 31 March 2016 95,000
Amortisation
At 1 April 2015 57,000
Charge for the year 19,000
On disposals -
At 31 March 2016 76,000
Net book values
At 31 March 2016 19,000
At 31 March 2015 38,000
3Tangible fixed assets
£
Cost
At 1 April 2015 12,639
Additions 1,616
Disposals -
Revaluations -
Transfers -
At 31 March 2016 14,255
Depreciation
At 1 April 2015 8,331
Charge for the year 4,279
On disposals -
At 31 March 2016 12,610
Net book values
At 31 March 2016 1,645
At 31 March 2015 4,308
4Called Up Share Capital
Allotted, called up and fully paid:
2016
£		 2015
£
100 Ordinary shares of £1 each 100 100

5Transactions with directors

Name of director receiving advance or credit: Mr S A and Mrs A Savva
Description of the transaction: Directors account
Balance at 1 April 2015: £ 36,973
Advances or credits made: £ 26,668
Advances or credits repaid: £ 42,487
Balance at 31 March 2016: £ 21,154

During the year, the directors received premises rentals of £5200 (2015 - £5200) from the company.