WPH Limited - Period Ending 2014-03-31

Registration number: 02943720

WPH Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2014
 

WPH Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 5

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.

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
WPH Limited
for the Year Ended 31 March 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of WPH Limited for the year ended 31 March 2014 set out on pages from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of WPH 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 WPH Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than WPH Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that WPH 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 WPH Limited. You consider that WPH 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 WPH 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.

......................................

Northdown Associates Limited
45 Basepoint Business Centre
Metcalf Way
Crawley
West Sussex
RH11 7XX

17 July 2014

Page 1

WPH Limited
(Registration number: 02943720)
Abbreviated Balance Sheet at 31 March 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					141,404			131,432
Current assets
Stocks					232,259			236,626
Debtors					3,728			33,786
Cash at bank and in hand					93			31,717
					236,080			302,129
Creditors: Amounts falling due within one year					(233,516)			(299,099)
Net current assets					2,564			3,030
Total assets less current liabilities					143,968			134,462
Creditors: Amounts falling due after more than one year					(7,107)			(50,310)
Provisions for liabilities					(27,638)			(23,707)
Net assets					109,223			60,445
Capital and reserves
Called up share capital		3			1,001			1,001
Profit and loss account					108,222			59,444
Shareholders' funds					109,223			60,445

For the year ending 31 March 2014 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 .

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 2

WPH Limited
(Registration number: 02943720)
Abbreviated Balance Sheet at 31 March 2014
......... continued

Approved by the Board on 17 July 2014 and signed on its behalf by:

.........................................
Mr Ian Bone
Director

.........................................
Mr David Cumberland
Director

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 3

WPH Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2014
......... 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 April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

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
Plant and machinery	5-10% per annum on a straight line basis
Office Equipment	33% per annum on a straight line basis
Motor Vehicles	25% per annum on a straight line basis

Stock and work in progress

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Work in progress is valued at anticipated sale value.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 4

WPH Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2013		314,735			314,735
Additions		48,500			48,500
Disposals		(56,621)			(56,621)
At 31 March 2014		306,614			306,614
Depreciation
At 1 April 2013		183,303			183,303
Charge for the year		16,117			16,117
Eliminated on disposals		(34,210)			(34,210)
At 31 March 2014		165,210			165,210
Net book value
At 31 March 2014		141,404			141,404
At 31 March 2013		131,432			131,432

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary share of £1 each		999			999			999			999
Ordinary A share of £1 each		2			2			2			2
		1,001			1,001			1,001			1,001

Page 5