Company Registration No. 04874704 (England and Wales)
WARD WILLIAMS LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
WARD WILLIAMS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 5
WARD WILLIAMS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
1,575,613
1,570,844
Tangible assets
2
53,692
58,125
Investments
2
75
-
1,629,380
1,628,969
Current assets
Debtors
936,814
968,748
Cash at bank and in hand
29,197
348
966,011
969,096
Creditors: amounts falling due within one year
(837,410)
(902,603)
Net current assets
128,601
66,493
Total assets less current liabilities
1,757,981
1,695,462
Creditors: amounts falling due after more than one year
(554,015)
(606,071)
1,203,966
1,089,391
Capital and reserves
Called up share capital
3
1,009,375
1,000,000
Share premium account
28,125
-
Other reserves
116,250
116,250
Profit and loss account
50,216
(26,859)
Shareholders' funds
1,203,966
1,089,391
WARD WILLIAMS LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2016
31 March 2016
- 2 -
For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 19 December 2016
M McKinnell
Director
Company Registration No. 04874704
WARD WILLIAMS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Fee income represents revenue earned under a wide variety of contracts to provide professional services. Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts charged to clients, including expenses and disbursements but excluding value added tax. Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial completion of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of the work performed. Revenue not billed to clients is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors. Fee income that is contingent on events outside the control of the firm is recognised when the contingent event occurs.
Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial completion of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of the work performed. Revenue not billed to clients is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors.
Fee income that is contingent on events outside the control of the firm is recognised when the contingent event occurs.
1.4
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.5
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Leasehold
term of the lease
Computer equipment
25% reducing balance
Fixtures, fittings & equipment
25% reducing balance
1.6
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
WARD WILLIAMS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Investments
Total
£
£
£
£
Cost
At 1 April 2015
2,597,331
115,979
-
2,713,310
Additions
-
11,122
75
11,197
Disposals
-
269
-
269
At 31 March 2016
2,597,331
127,370
75
2,724,776
Depreciation
At 1 April 2015
963,383
58,293
-
1,021,676
Charge for the year
58,335
15,385
-
73,720
At 31 March 2016
1,021,718
73,678
-
1,095,396
Net book value
At 31 March 2016
1,575,613
53,692
75
1,629,380
At 31 March 2015
1,570,844
58,125
-
1,628,969
Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:
Company
Country of registration or
Shares held
incorporation
Class
%
Subsidiary undertakings
Ward Williams Creatives Limited
England & Wales
Ordinary
75.00
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
Capital and reserves
Profit/(loss) for the year
2016
2016
Principal activity
£
£
Ward Williams Creatives Limited
Chartered Accountants
26,984
26,884
During the company subscribed for 75 Ordinary £1 shares in Ward Williams Creatives Limited.
WARD WILLIAMS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 5 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
155,625 Ordinary 'A' shares of £1 each
155,625
150,000
103,750 Ordinary 'B' shares of £1 each
103,750
100,000
750,000 Ordinary 'C' shares of £1 each
750,000
750,000
1,009,375
1,000,000
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