Ward Williams Holdings Limited - Period Ending 2016-11-30

 
 
 
 
 
 
 
  Ward Williams Holdings Limited
 
  Unaudited Abbreviated Accounts
  Year Ended 30 November 2016
 
  Company Registration Number: 02436988

Ward Williams Holdings Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 6

Ward Williams Holdings Limited
Abbreviated Balance Sheet
30 November 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets		2			197,115			163,736
Investments		2			120			120
					197,235			163,856
Current assets
Stocks					4,000			4,000
Debtors					1,194,596			1,221,213
Cash at bank and in hand					223,056			185,667
					1,421,652			1,410,880
Creditors: Amounts falling due within one year					(783,651)			(867,133)
Net current assets					638,001			543,747
Total assets less current liabilities					835,236			707,603
Creditors: Amounts falling due after more than one year					(25,000)			(24,261)
Provisions for liabilities					(34,439)			(31,256)
Net assets					775,797			652,086
Capital and reserves
Called up share capital		4			2,076			2,076
Share premium account					1,000			1,000
Capital redemption reserve					504			504
Other reserves					(1,300)			(1,300)
Profit and loss account					773,517			649,806
Shareholders' funds					775,797			652,086

The notes on pages 3 to 6 form an integral part of these financial statements.
Page 1

Ward Williams Holdings Limited
Abbreviated Balance Sheet
30 November 2016 ......... continued

For the year ending 30 November 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 16 May 2017 and signed on its behalf by:

A J Snapes
Director

Company Registration Number: 02436988

The notes on pages 3 to 6 form an integral part of these financial statements.
Page 2

Ward Williams Holdings Limited
Notes to the Abbreviated Accounts
Year Ended 30 November 2016 ......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 group accounts

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Turnover

Turnover represents the right to consideration earned for the provision of services excluding VAT, in accordance with the company's principle activity. Services provided to clients during the period which, at the balance sheet date, have not been invoiced to clients, have been recognised in turnover in accordance with Financial Reporting Standard 5 'Reporting the substance of transactions', Application Note G 'Revenue Recognition' and the Urgent Issues Task Force Abstract 40 'Revenue recognition and service contracts'. Turnover recognised is based on an assessment of the fair value of the services provided by the balance sheet date as a proportion of the total value of the engagement. Revenue is not recognised on those engagements where the right to receive payment is contingent on factors outside the control of the company. Unbilled revenue is included within debtors.

Goodwill

Acquired goodwill is written off in equal instalments over its estimated useful economic life of 5 years.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected life as follows:

Asset class	Amortisation method and rate
Goodwill	5 years straight line

Depreciation

Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:

Asset class	Depreciation method and rate
Leasehold properties	Straight line over the term of the lease
Computer equipment	33% reducing balance
Fixtures, fittings and equipment	10% reducing balance

Fixed asset investments

Fixed asset investments are stated at cost less provision for permanent diminution in value.

Stock

Stock is valued at the lower of cost and net realisable value.

Page 3

Ward Williams Holdings Limited
Notes to the Abbreviated Accounts
Year Ended 30 November 2016 ......... continued

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more, tax, with the following exceptions: Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Foreign currency

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange prevailing at the accounting date. Transactions in foreign currencies are recorded at the date of the transactions. All differences are taken to the profit and loss account.

Hire purchase and leasing

Assets obtained under hire purchase contacts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of finance charge allocated to the future periods. The finance element of the rental payment is charged to the profit and loss acount so as to produce constant periodic rates of charge on the net obligations outstanding in each period. Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

Pensions

The pension costs charged in the financial statements represent the contribution payable by the company during the year.

2	Fixed assets

		Intangible assets £			Tangible assets £			Investments £			Total £
Cost
At 1 December 2015		37,194			507,847			150,000			695,041
Additions		-			77,767			-			77,767
At 30 November 2016		37,194			585,614			150,000			772,808
Depreciation
At 1 December 2015		37,194			344,111			149,880			531,185
Charge for the year		-			44,388			-			44,388
At 30 November 2016		37,194			388,499			149,880			575,573
Net book value
At 30 November 2016		-			197,115			120			197,235
At 30 November 2015		-			163,736			120			163,856

Page 4

Ward Williams Holdings Limited
Notes to the Abbreviated Accounts
Year Ended 30 November 2016 ......... continued

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Country of incorporation	Holding	Proportion of voting rights and shares held	Principal activity
Subsidiary undertakings
Baseline Building Surveyors Limited	England & Wales	Ordinary shares	100.00%	Dormant

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2016 £			2015 £
Amounts falling due within one year		-			29,177

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary A Shares of £0.01 each		77,645			776			77,645			776
Ordinary B Shares of £1 each		1,300			1,300			1,300			1,300
		78,945			2,076			78,945			2,076

Page 5

Ward Williams Holdings Limited
Notes to the Abbreviated Accounts
Year Ended 30 November 2016 ......... continued

5	Related party transactions

Directors' advances and credits

	2016 Advance/ Credit £	2016 Repaid £	2015 Advance/ Credit £	2015 Repaid £
R D Carey
Overdrawn director's account	-	36,346	36,346	40,877
M R Ayliffe
Overdrawn director's account	-	36,346	36,346	40,877
A J Snapes
Overdrawn director's account	-	42,045	42,045	50,647
D M Willcocks
Overdrawn director's account	-	36,346	36,346	40,877
N J Andrews
Overdrawn director's account	-	36,346	36,346	40,877
J Beckly
Overdrawn director's account	-	2,316	2,316	3,970
A Gilbert
Overdrawn directors account	-	36,346	36,346	40,877

Page 6