John Wood & Associates Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 06870653 (England and Wales)

Abbreviated Accounts

for the Year Ended 31 March 2016

for

John Wood & Associates Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

J A Wood

J B Wood

Mrs M R Wood MCSP MMACP

REGISTERED OFFICE:

14 Ladythorn Road

Bramhall

Stockport

Cheshire

SK7 2ER

REGISTERED NUMBER:

06870653 (England and Wales)

ACCOUNTANTS:

Archwood Accountants

Archwood House

46-48 Long Street

Middleton

Manchester

M24 6UQ

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

15,529

4,937

15,529

4,937

CURRENT ASSETS

Stocks

39,523

-

Debtors

37,869

76,315

Cash at bank

7,287

17,444

84,679

93,759

CREDITORS

Amounts falling due within one year

77,682

28,192

NET CURRENT ASSETS

6,997

65,567

TOTAL ASSETS LESS CURRENT
LIABILITIES

22,526

70,504

CREDITORS

Amounts falling due after more than one
year

(9,902

)

-

PROVISIONS FOR LIABILITIES

-

(987

)

NET ASSETS

12,624

69,517

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

12,524

69,417

SHAREHOLDERS' FUNDS

12,624

69,517

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 24 January 2017 and were signed on its behalf by:

J B Wood - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention.

Financial reporting standard number 1

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

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

sheet date in accordance with FRS19.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

40,000

Disposals

(40,000

)

At 31 March 2016

-

AMORTISATION

At 1 April 2015

40,000

Eliminated on disposal

(40,000

)

At 31 March 2016

-

NET BOOK VALUE

At 31 March 2016

-

At 31 March 2015

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

13,726

Additions

17,603

Disposals

(8,651

)

At 31 March 2016

22,678

DEPRECIATION

At 1 April 2015

8,789

Charge for year

4,812

Eliminated on disposal

(6,452

)

At 31 March 2016

7,149

NET BOOK VALUE

At 31 March 2016

15,529

At 31 March 2015

4,937

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

100

Ordinary

1

100