Wavelength Electronics Limited - Accounts to registrar - small 16.3d

Wavelength Electronics Limited - Accounts to registrar - small 16.3d

WAVELENGTH ELECTRONICS LIMITED - Company Information

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REGISTERED NUMBER: 02755004 (England and Wales)















WAVELENGTH ELECTRONICS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016






WAVELENGTH ELECTRONICS LIMITED (REGISTERED NUMBER: 02755004)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


WAVELENGTH ELECTRONICS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2016







DIRECTOR: P C Glover





SECRETARY: P C Glover





REGISTERED OFFICE: 424 Margate Road
Ramsgate
Kent
CT12 6SR





REGISTERED NUMBER: 02755004 (England and Wales)





ACCOUNTANTS: Spurling Cannon
Chartered Certified Accountants
424 Margate Road
Westwood
Ramsgate
Kent
CT12 6SJ
Page 1
WAVELENGTH ELECTRONICS LIMITED (REGISTERED NUMBER: 02755004)

BALANCE SHEET
31 DECEMBER 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,381 1,747

CURRENT ASSETS
Stocks 27,162 15,501
Debtors 5 65,651 66,689
Cash at bank and in hand 135,844 128,929
228,657 211,119
CREDITORS
Amounts falling due within one year 6 47,322 42,199
NET CURRENT ASSETS 181,335 168,920
TOTAL ASSETS LESS CURRENT
LIABILITIES
184,716
170,667

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 184,616 170,567
SHAREHOLDERS' FUNDS 184,716 170,667

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 24 February 2017 and were signed by:





P C Glover - Director


The notes form part of these financial statements

Page 2
WAVELENGTH ELECTRONICS LIMITED (REGISTERED NUMBER: 02755004)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016

1. STATUTORY INFORMATION

Wavelength Electronics Limited is a private company, limited by shares , registered in England and Wales. The
company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of goods and 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.
Office equipment - 20% on cost
Fixtures and fittings - 20% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance
for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in
bringing stocks to their present location and condition.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling
at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension
scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 .

Page 3 continued...
WAVELENGTH ELECTRONICS LIMITED (REGISTERED NUMBER: 02755004)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2016

4. TANGIBLE FIXED ASSETS
Fixtures
Office and
equipment fittings Totals
£    £    £   
COST
At 1 January 2016 8,862 487 9,349
Additions - 2,669 2,669
At 31 December 2016 8,862 3,156 12,018
DEPRECIATION
At 1 January 2016 7,115 487 7,602
Charge for year 501 534 1,035
At 31 December 2016 7,616 1,021 8,637
NET BOOK VALUE
At 31 December 2016 1,246 2,135 3,381
At 31 December 2015 1,747 - 1,747

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Trade debtors 62,762 63,775
Directors' current accounts 1,801 1,801
Prepayments 1,088 1,113
65,651 66,689

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Trade creditors 20,189 34,122
Corporation Tax 13,137 865
Social security and other taxes 11,245 4,166
Sundry creditors 179 63
Accrued expenses 2,572 2,983
47,322 42,199

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The overdrawn Directors Current Account was repaid in full on 31 March 2016.

8. RELATED PARTY DISCLOSURES

The company was under the control of P.C. Glover throughout the current and previous year. During the year
under review, P.C. Glover was personally interested in 99% of the company's share capital, (2015 - 99%).

Page 4