Wheatley Wright Insurance Services Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 04664478

Wheatley Wright Insurance Services

Limited

Abbreviated Unaudited Accounts

for the Year Ended 30 September 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

N T A Wright

D R Wills

SECRETARY:

N T A Wright

REGISTERED OFFICE:

2 Oakberry Road Industrial Estate

Oakberry Road

Lutterworth

Leicestershire

LE17 4PP

REGISTERED NUMBER:

04664478

ACCOUNTANTS:

Wychbury Greaves

Towers Point

Towers Business Park

Wheelhouse Road

Rugeley

Staffordshire

WS15 1UN

FIXED ASSETS

Tangible assets

2

253,678

355,390

Investments

3

201

253,879

355,591

CURRENT ASSETS

Debtors

37,649

14,990

Cash at bank

1,335,009

1,120,800

1,372,658

1,135,790

CREDITORS

Amounts falling due within one year

396,382

355,601

NET CURRENT ASSETS

976,276

780,189

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,230,155

1,135,780

CREDITORS

Amounts falling due after more than one
year

-

(14,400

)

PROVISIONS FOR LIABILITIES

(17,052

)

(28,728

)

NET ASSETS

1,213,103

1,092,652

CAPITAL AND RESERVES

Called up share capital

4

100

Share premium

40,000

Profit and loss account

1,173,003

1,052,552

SHAREHOLDERS' FUNDS

1,213,103

1,092,652

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 directors acknowledge their 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 22 February 2017 and were signed on its behalf
by:

N T A Wright - 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Deferred tax

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

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

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 the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2015

558,661

Additions

10,027

Disposals

(109,904

)

At 30 September 2016

458,784

DEPRECIATION

At 1 October 2015

203,271

Charge for year

66,905

Eliminated on disposal

(65,070

)

At 30 September 2016

205,106

NET BOOK VALUE

At 30 September 2016

253,678

At 30 September 2015

355,390

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 October 2015

and 30 September 2016

100,201

PROVISIONS

At 1 October 2015

and 30 September 2016

100,000

NET BOOK VALUE

At 30 September 2016

201

At 30 September 2015

201

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

1

100

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in other creditors is an amount of £29,432 (2015: £16,147 ) due to NTA Wright, a director of the

company. This amount is interest free and repayable on demand.

Included in other creditors is an amount of £NIL (2015: £377) due to DR Wills, a director of the company. This

amount is interest free and repayable on demand.