Abbreviated Company Accounts - WSEA LIMITED

Abbreviated Company Accounts - WSEA LIMITED

WSEA LIMITED - Company Information

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Registered Number 02845050

WSEA LIMITED

Abbreviated Accounts

31 August 2016

WSEA LIMITED Registered Number 02845050

Abbreviated Balance Sheet as at 31 August 2016

Notes 2016 2015
£ £
Fixed assets
Intangible assets 2 26,877 12,037
Investments 3 1,100 1,100
27,977 13,137
Current assets
Debtors 1,348 1,348
Cash at bank and in hand 92 176
1,440 1,524
Creditors: amounts falling due within one year (53,027) (38,064)
Net current assets (liabilities) (51,587) (36,540)
Total assets less current liabilities (23,610) (23,403)
Creditors: amounts falling due after more than one year (7,755) -
Total net assets (liabilities) (31,365) (23,403)
Capital and reserves
Called up share capital 4 8 8
Profit and loss account (31,373) (23,411)
Shareholders' funds (31,365) (23,403)
  • For the year ending 31 August 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 30 May 2017

And signed on their behalf by:
Mr Roger Williams, Director

WSEA LIMITED Registered Number 02845050

Notes to the Abbreviated Accounts for the period ended 31 August 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment – 25% on net book value

Other accounting policies
Patents
Investments
Fixed asset investments are stated at cost less provision for diminution in value.

Patents
Patents are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful lives.

2Intangible fixed assets
£
Cost
At 1 September 2015 27,321
Additions 23,799
Disposals -
Revaluations -
Transfers -
At 31 August 2016 51,120
Amortisation
At 1 September 2015 15,284
Charge for the year 8,959
On disposals -
At 31 August 2016 24,243
Net book values
At 31 August 2016 26,877
At 31 August 2015 12,037

3Fixed assets Investments
Fixed assets - Investments
Cost at 1st September 2015 & 31st August 2016 - £1,100
Depreciation at 1st September 2015 & 31st August 2016 - £nil
Net book value – 31st August 2015 & 31st August 2016 - £1,100

4Called Up Share Capital
Allotted, called up and fully paid:
2016
£		 2015
£
6 Ordinary shares of £1 each 6 6
2 'A' Deferred Non-Voting shares of £1 each 2 2

Ordinary Shares carry a right to vote at general meetings of the company. The 'A' Deferred Non-Voting Shares carry no such rights. On winding up, the holders of the Ordinary Shares are entitled to repayment of the par value of their shares prior to other shareholders. Any residue remaining after the repayment of share capital is distributable to holders of the Ordinary Shares. Holders of the 'A' Deferred Non-Voting Shares have no right to participate in any distribution on winding up other than the repayment of the par value of their shares.