WJF Traction Consulting Limited - Limited company accounts 16.3

REGISTERED NUMBER: 06370106 (England and Wales)

REPORT OF THE DIRECTOR AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2016

FOR

WJF TRACTION CONSULTING LIMITED

Page

Company Information

1

Report of the Director

2

Chartered Accountants' Report

3

Profit and Loss Account

4

Balance Sheet

5

Notes to the Financial Statements

6

DIRECTOR:

W J Fonseca

REGISTERED OFFICE:

75 Park Lane

Croydon

Surrey

CR9 1XS

REGISTERED NUMBER:

06370106 (England and Wales)

ACCOUNTANTS:

Kings Mill Partnership

75 Park Lane

Croydon

Surrey

CR9 1XS

The director presents his report with the financial statements of the company for the year ended 30 September 2016.

PRINCIPAL ACTIVITY

The principal activity of the company during the year continued to be that of traction consultancy services.

DIRECTOR

W J Fonseca held office during the whole of the period from 1 October 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.

THIS REPORT WAS APPROVED BY THE BOARD:

W J Fonseca - Director

29 January 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of WJF Traction Consulting Limited for the year ended 30 September 2016 which comprise the

Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of WJF Traction Consulting Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of WJF Traction Consulting Limited and state those matters that we have agreed to state to the director of WJF Traction Consulting Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than WJF Traction Consulting Limited director for our work or for this report.

It is your duty to ensure that WJF Traction Consulting Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of WJF Traction Consulting Limited. You consider that WJF Traction Consulting Limited 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 financial statements of WJF Traction Consulting Limited. 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 financial statements.

Kings Mill Partnership

75 Park Lane

Croydon

Surrey

CR9 1XS

29 January 2017

TURNOVER

144,548

144,918

Administrative expenses

58,658

50,610

OPERATING PROFIT

2

85,890

94,308

Interest receivable and similar income

216

236

PROFIT ON ORDINARY ACTIVITIES
BEFORE TAXATION

86,106

94,544

Tax on profit on ordinary activities

3

17,968

19,874

PROFIT FOR THE FINANCIAL YEAR

68,138

74,670

FIXED ASSETS

Tangible assets

5

1,129

950

CURRENT ASSETS

Debtors

6

1,721

Cash in hand

68,600

64,628

70,321

66,349

CREDITORS

Amounts falling due within one year

7

62,634

36,657

NET CURRENT ASSETS

7,687

29,692

TOTAL ASSETS LESS CURRENT
LIABILITIES

8,816

30,642

PROVISIONS FOR LIABILITIES

8

226

190

NET ASSETS

8,590

30,452

CAPITAL AND RESERVES

Called up share capital

9

100

Profit and loss account

10

8,490

30,352

SHAREHOLDERS' FUNDS

8,590

30,452

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 29 January 2017 and were signed by:

W J Fonseca - 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).

Exemption from preparing a cash flow statement

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

small company.

Turnover

Turnover represents the amounts derived from providing traction consultancy services, net of Value Added Tax.

Tangible fixed assets

The cost of fixed assets is their purchase cost, together with any incidental expenses of acquisition. Depreciation

is provided so as to write off the cost of tangible fixed assets less their estimated residual values on a straight line

basis over the assets estimated economic life. The principal rates used are as follows:

Computer Equipment - 25%

Deferred tax

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

balance sheet date.Deferred tax assets are recognised where it is considered more likely than not that future

profits will be available for offset. The company has not adopted a policy of discounting deferred tax assets and

liabilities.

2.	OPERATING PROFIT

The operating profit is stated after charging:

2016

2015

£

Depreciation - owned assets

570

1,413

Pension costs

12,000

Director's remuneration and other benefits etc

9,530

8,008

3.

TAXATION

Analysis of the tax charge

The tax charge on the profit on ordinary activities for the year was as follows:

2016

2015

£

Current tax:

UK corporation tax

17,932

20,067

Deferred tax

36

(193

)

Tax on profit on ordinary activities

17,968

19,874

4.

DIVIDENDS

2016

2015

£

Final

90,000

70,000

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 October 2015

6,709

Additions

749

At 30 September 2016

7,458

DEPRECIATION

At 1 October 2015

5,759

Charge for year

570

At 30 September 2016

6,329

NET BOOK VALUE

At 30 September 2016

1,129

At 30 September 2015

950

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

Section 455 Tax

1,721

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

Corporation tax

17,932

20,067

Other creditors

300

-

Director's loan account

34,185

6,754

Other taxes & social security

6,368

5,987

Accruals

1,275

Childcare vouchers

2,574

62,634

36,657

8.	PROVISIONS FOR LIABILITIES

2016

2015

£

Deferred tax

226

190

Deferred

tax

£

Balance at 1 October 2015

190

Provided during year

36

Accelerated Capital Allowance

Balance at 30 September 2016

226

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

£1

100

10.

RESERVES

Profit

and loss

account

£

At 1 October 2015

30,352

Profit for the year

68,138

Dividends

(90,000

)

At 30 September 2016

8,490

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is W J Fonseca.