Wells Services (Norfolk) Limited - Abbreviated accounts 16.3
Wells Services (Norfolk) Limited - Abbreviated accounts 16.3
| REGISTERED NUMBER: |
| ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 JULY 2016 |
| FOR |
| WELLS SERVICES (NORFOLK) LIMITED |
| WELLS SERVICES (NORFOLK) LIMITED (REGISTERED NUMBER: 05522515) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 JULY 2016 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| WELLS SERVICES (NORFOLK) LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 JULY 2016 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| WELLS SERVICES (NORFOLK) LIMITED (REGISTERED NUMBER: 05522515) |
| ABBREVIATED BALANCE SHEET |
| 31 JULY 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 2 |
| Tangible assets | 3 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 4 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
4 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 5 |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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 financial statements were approved by the Board of Directors on |
| WELLS SERVICES (NORFOLK) LIMITED (REGISTERED NUMBER: 05522515) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 JULY 2016 |
| 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 the fair value of services provided during the year. Turnover is recognised as contract |
| activity progresses and the right to consideration is earned. Fair value reflects the amount expected to be |
| recoverable from clients. Turnover excludes value added tax. |
| Unbilled turnover on individual contracts is included as accrued income within other debtors. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
| less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
| slow moving items. |
| Deferred tax |
| The charge for taxation is based on the results for the year and takes into account taxation deferred because of |
| timing differences between the treatment of certain items for taxation and accounting purposes. In accordance |
| with Financial Reporting Standard 19, provision is made for deferred tax in respect of all timing differences that |
| have originated but not reversed by the balance sheet date. Deferred tax assets are only recognised when it is |
| more likely than not that the deferred tax asset will be recovered. Deferred tax is measured using rates of tax |
| that have been enacted or substantially enacted by the balance sheet date. Deferred tax balances are not |
| discounted. |
| 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. |
| WELLS SERVICES (NORFOLK) LIMITED (REGISTERED NUMBER: 05522515) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31 JULY 2016 |
| 2. | INTANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| Additions |
| At 31 July 2016 |
| AMORTISATION |
| Amortisation for year |
| At 31 July 2016 |
| NET BOOK VALUE |
| At 31 July 2016 |
| 3. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 August 2015 |
| Additions |
| Disposals | ( |
) |
| At 31 July 2016 |
| DEPRECIATION |
| At 1 August 2015 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 July 2016 |
| NET BOOK VALUE |
| At 31 July 2016 |
| At 31 July 2015 |
| 4. | CREDITORS |
| Creditors include an amount of £ |
| 5. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Class: | Nominal value: | 2016 | 2015 |
| £ | £ |
| Ordinary A | £1 | 72 | 72 |
| Ordinary B | £1 | 10 | 10 |
| Ordinary C | £1 | 10 | 10 |
| Ordinary D | £1 | 8 | 8 |
| 100 | 100 |
| WELLS SERVICES (NORFOLK) LIMITED (REGISTERED NUMBER: 05522515) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31 JULY 2016 |
| 6. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31 July 2016 and |
| 31 July 2015: |
| 2016 | 2015 |
| £ | £ |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Balance outstanding at end of year | ( |
) | ( |
) |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Balance outstanding at end of year |
| Balance outstanding at start of year | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Balance outstanding at end of year | ( |
) |
| Interest of £1,845 (2015 - £3,634) has been charged on the overdrawn balance on Mr M D Wells' loan. |