Woodgrange Laundry Limited - Period Ending 2016-09-30
Woodgrange Laundry Limited - Period Ending 2016-09-30
Registration number:
for the Year Ended
Woodgrange Laundry Limited
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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 5) have been prepared.
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Woodgrange Laundry Limited
for the Year Ended 30 September 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Woodgrange Laundry Limited for the year ended 30 September 2016 set out on pages 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 at http://www.icaew.com/en/members/regulations-standards-and-guidance/.
This report is made solely to the Board of Directors of Woodgrange Laundry Limited, 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 Woodgrange Laundry Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Woodgrange Laundry Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Woodgrange Laundry Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Woodgrange Laundry Limited. You consider that Woodgrange Laundry 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 accounts of Woodgrange Laundry 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 accounts.
Thomas Quinn
Accountants
The Station House
15 Station Road
St Ives
Cambridgeshire
PE27 5BH
24 February 2017
Woodgrange Laundry Limited
(Registration number: 02062328)
Abbreviated Balance Sheet at 30 September 2016
Note |
2016
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2015
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Fixed assets |
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Intangible fixed assets |
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Tangible fixed assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
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Provisions for liabilities |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Revaluation reserve |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
Mr D M Browne
Director
2
Woodgrange Laundry Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued
Accounting policies |
Basis of preparation
Turnover
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
Goodwill is evaluated for impairment annually by the directors. The directors did not consider it necessary to write down the value of goodwill in the year ended 30 September 2014.
Asset class |
Amortisation method and rate |
Goodwill |
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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 |
Short leasehold |
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Plant and machinery |
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Fixtures and fittings |
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Motor vehicles |
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Stock
Deferred tax
Woodgrange Laundry Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued
Hire purchase and leasing
Financial instruments
Fixed assets |
Intangible assets
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Tangible assets
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Total
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Cost |
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At 1 October 2015 |
174,250 |
1,424,862 |
1,599,112 |
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Additions |
- |
243,638 |
243,638 |
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At 30 September 2016 |
174,250 |
1,668,500 |
1,842,750 |
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Depreciation |
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At 1 October 2015 |
50,000 |
886,655 |
936,655 |
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Charge for the year |
50,000 |
64,923 |
114,923 |
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At 30 September 2016 |
100,000 |
951,578 |
1,051,578 |
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Net book value |
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At 30 September 2016 |
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At 30 September 2015 |
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Woodgrange Laundry Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued
Share capital |
Allotted, called up and fully paid shares
2016 |
2015 |
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No. |
£ |
No. |
£ |
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Control |
The company is controlled by