W.G.H. Marine Engineering Ltd. - Abbreviated accounts 16.3

REGISTERED NUMBER: SC288788 (Scotland)

Abbreviated Unaudited Accounts for the Year Ended 31 August 2016

for

W.G.H. Marine Engineering Ltd.

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

W G Hughson

SECRETARY:

Ms R C Robinson

REGISTERED OFFICE:

Fleur DeLys

Whiteness

Shetland

ZE2 9LJ

REGISTERED NUMBER:

SC288788 (Scotland)

ACCOUNTANTS:

Bon Accord Accountancy Limited

2 North Ness Business Park

Lerwick

Shetland

ZE1 0LZ

FIXED ASSETS

Tangible assets

2

44,274

47,917

Investments

3

19,792

19,593

64,066

67,510

CURRENT ASSETS

Debtors

146,965

195

Cash at bank

83,567

186,701

230,532

186,896

CREDITORS

Amounts falling due within one year

20,789

10,711

NET CURRENT ASSETS

209,743

176,185

TOTAL ASSETS LESS CURRENT
LIABILITIES

273,809

243,695

PROVISIONS FOR LIABILITIES

-

6,099

NET ASSETS

273,809

237,596

CAPITAL AND RESERVES

Called up share capital

4

2

Profit and loss account

273,807

237,594

SHAREHOLDERS' FUNDS

273,809

237,596

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 26 May 2017 and were signed by:

W G Hughson - 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.

Plant and machinery

-

15% on reducing balance and 10% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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

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

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2015

84,998

Additions

233

At 31 August 2016

85,231

DEPRECIATION

At 1 September 2015

37,081

Charge for year

3,876

At 31 August 2016

40,957

NET BOOK VALUE

At 31 August 2016

44,274

At 31 August 2015

47,917

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 September 2015

19,593

Dividends received

199

At 31 August 2016

19,792

NET BOOK VALUE

At 31 August 2016

19,792

At 31 August 2015

19,593

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.16

31.8.15

value:

£

2

Ordinary

£1

2