WALLACE & WALLACE ENG LIMITED - Abbreviated accounts 16.3

REGISTERED NUMBER: 03465154 (England and Wales)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2016

FOR

WALLACE & WALLACE ENGINEERING LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

S F WALLACE

C M WALLACE

N S WALLACE

SECRETARY:

N S WALLACE

REGISTERED OFFICE:

TURNPIKE HOUSE

1208/1210 LONDON ROAD

LEIGH ON SEA

ESSEX

SS9 2UA

REGISTERED NUMBER:

03465154 (England and Wales)

ACCOUNTANTS:

SEGRAVE & PARTNERS LLP

CHARTERED ACCOUNTANTS

TURNPIKE HOUSE

1208/1210 LONDON ROAD

LEIGH ON SEA

ESSEX

SS9 2UA

FIXED ASSETS

Tangible assets

2

249

293

CURRENT ASSETS

Stocks

-

1,459

Debtors

34,742

45,662

Cash at bank

50,087

33,948

84,829

81,069

CREDITORS

Amounts falling due within one year

12,422

13,494

NET CURRENT ASSETS

72,407

67,575

TOTAL ASSETS LESS CURRENT
LIABILITIES

72,656

67,868

CAPITAL AND RESERVES

Called up share capital

3

1,000

Profit and loss account

71,656

66,868

SHAREHOLDERS' FUNDS

72,656

67,868

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 9 January 2017 and were signed on its behalf by:

S F WALLACE - Director

C M WALLACE - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

10% on cost

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax has been calculated, but the amount involved is not significant enough to materially affect the

financial statements, and therefore no provision has been made.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

and 30 June 2016

49,702

DEPRECIATION

At 1 July 2015

49,409

Charge for year

44

At 30 June 2016

49,453

NET BOOK VALUE

At 30 June 2016

249

At 30 June 2015

293

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

1,000

Ordinary

£1

1,000