Webflair.co.uk Ltd - Period Ending 2016-04-30

Registration number: 08472167

Webflair.co.uk Ltd

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2016
 

Andrews & O'Shea Ltd
Accountants
5 Kings Court
Harwood Road
Horsham
West Sussex
RH13 5UR

Webflair.co.uk Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Webflair.co.uk Ltd
for the Year Ended 30 April 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Webflair.co.uk Ltd for the year ended 30 April 2016 set out on pages 4 to 10 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Webflair.co.uk Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Webflair.co.uk Ltd and state those matters that we have agreed to state to them, as a body, and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Webflair.co.uk Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Webflair.co.uk Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Webflair.co.uk Ltd. You consider that Webflair.co.uk Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Webflair.co.uk Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Andrews & O'Shea Ltd
Accountants
5 Kings Court
Harwood Road
Horsham
West Sussex
RH13 5UR

30 January 2017

Page 1

Webflair.co.uk Ltd
(Registration number: 08472167)
Abbreviated Balance Sheet at 30 April 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets					3,500			4,000
Tangible fixed assets		2			447			596
					3,947			4,596
Current assets
Debtors					468			-
Cash at bank and in hand					-			200
					468			200
Creditors: Amounts falling due within one year					(9,362)			(2,445)
Net current liabilities					(8,894)			(2,245)
Total assets less current liabilities					(4,947)			2,351
Provisions for liabilities					(89)			(119)
Net (liabilities)/assets					(5,036)			2,232
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					(5,136)			2,132
Shareholders' (deficit)/funds					(5,036)			2,232

For the year ending 30 April 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 30 January 2017 and signed on its behalf by:

.........................................
 Mr J K Sharpe
 Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Webflair.co.uk Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 April 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Going concern

The financial statements have been prepared on a going concern basis with the continued support of the directors.

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	10% per annum on a straight line basis

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office equipment	25% per annum on a reducing balance basis

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Webflair.co.uk Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 April 2016
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 May 2015		5,000			954			5,954
At 30 April 2016		5,000			954			5,954
Depreciation
At 1 May 2015		1,000			358			1,358
Charge for the year		500			149			649
At 30 April 2016		1,500			507			2,007
Net book value
At 30 April 2016		3,500			447			3,947
At 30 April 2015		4,000			596			4,596

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

New shares allotted

During the year - having an aggregate nominal value of £nil were allotted for an aggregate consideration of £nil.

Page 4