Wolstonbury Construction Limited - Limited company accounts 16.3

REGISTERED NUMBER: 03456512 (England and Wales)

WOLSTONBURY CONSTRUCTION LIMITED

Report of the Director and

Unaudited Financial Statements

for the Year Ended 31 October 2016

Page

Company Information

1

Report of the Director

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTOR:

C R P Stepto

SECRETARY:

The Bailey Partnership Limited

REGISTERED OFFICE:

Sterling House

27 Hatchlands Road

Redhill

Surrey

RH1 6RW

REGISTERED NUMBER:

03456512 (England and Wales)

ACCOUNTANTS:

The Bailey Partnership

Chartered Accountants

Sterling House

27 Hatchlands Road

Redhill

Surrey

RH1 6RW

The director presents his report with the financial statements of the company for the year ended 31 October 2016.

DIRECTOR

C R P Stepto held office during the whole of the period from 1 November 2015 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating

to small companies.

ON BEHALF OF THE BOARD:

C R P Stepto - Director

25 January 2017

TURNOVER

720,327

197,300

Cost of sales

668,641

131,796

GROSS PROFIT

51,686

65,504

Administrative expenses

36,280

28,113

OPERATING PROFIT and

PROFIT ON ORDINARY ACTIVITIES
BEFORE TAXATION

2

15,406

37,391

Tax on profit on ordinary activities

3

-

PROFIT FOR THE FINANCIAL YEAR

15,406

37,391

FIXED ASSETS

Tangible assets

4

6,375

-

CURRENT ASSETS

Stocks

115,000

160,000

CREDITORS

Amounts falling due within one year

5

184,235

238,266

NET CURRENT LIABILITIES

(69,235

)

(78,266

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(62,860

)

(78,266

)

CAPITAL AND RESERVES

Called up share capital

6

1,000

Profit and loss account

7

(63,860

)

(79,266

)

SHAREHOLDERS' FUNDS

(62,860

)

(78,266

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The financial statements were approved by the director on 25 January 2017 and were signed by:

C R P Stepto - 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 goods, 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 etc

-

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 is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

2.	OPERATING PROFIT

The operating profit is stated after charging:

2016

2015

£

Depreciation - owned assets

2,125

-

Director's remuneration and other benefits etc

8,010

7,950

3.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose on ordinary activities for the year ended 31 October 2016 nor for

the year ended 31 October 2015.

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

8,500

At 31 October 2016

8,500

DEPRECIATION

Charge for year

2,125

At 31 October 2016

2,125

NET BOOK VALUE

At 31 October 2016

6,375

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

Taxation and social security

17,484

8,839

Other creditors

166,751

229,427

184,235

238,266

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

1,000

Ordinary

£1

1,000

7.

RESERVES

Profit

and loss

account

£

At 1 November 2015

(79,266

)

Profit for the year

15,406

At 31 October 2016

(63,860

)