S Webb & Son Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 00541583 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2016

FOR

S WEBB & SON LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mr J M Ward

Mr T A Ward

Mr T T Ward

Mr A J Ward

SECRETARY:

Mrs A M Ward

REGISTERED OFFICE:

17 Upper High Street

Wednesbury

West Midlands

WS10 7HQ

REGISTERED NUMBER:

00541583 (England and Wales)

ACCOUNTANTS:

Wright & Co Partnership Limited

Chartered Accountants

5 Walsall Street

Wednesbury

West Midlands

WS10 9BZ

FIXED ASSETS

Tangible assets

2

1,229,171

1,056,492

CURRENT ASSETS

Stocks

5,800

5,600

Debtors

105,053

72,383

Cash at bank and in hand

229,000

138,573

339,853

216,556

CREDITORS

Amounts falling due within one year

3

310,431

293,718

NET CURRENT ASSETS/(LIABILITIES)

29,422

(77,162

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,258,593

979,330

CREDITORS

Amounts falling due after more than one year

3

(676,786

)

(539,847

)

PROVISIONS FOR LIABILITIES

(161,401

)

(127,402

)

NET ASSETS

420,406

312,081

CAPITAL AND RESERVES

Called up share capital

4

6,001

Profit and loss account

414,405

306,080

SHAREHOLDERS' FUNDS

420,406

312,081

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2016 in accordance with Section 476 of the Companies Act 2006.

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 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 Board of Directors on 30 June 2017 and were signed on its behalf by:

Mr T A Ward - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain

assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods and services, 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

10% on cost

Plant & machinery

-

10% on reducing balance

Fixtures & fittings

-

10% on reducing balance

Motor vehicles

-

at varying rates on cost

Computer equipment

-

25% on cost

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

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

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 October 2015

1,170,081

Additions

343,357

Disposals

(99,530

)

At 30 September 2016

1,413,908

DEPRECIATION

At 1 October 2015

113,589

Charge for year

104,160

Eliminated on disposal

(33,012

)

At 30 September 2016

184,737

NET BOOK VALUE

At 30 September 2016

1,229,171

At 30 September 2015

1,056,492

3.

CREDITORS

Creditors include an amount of £ 777,400 (2015 - £ 616,250 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

6,000

Ordinary

£1

6,000

1

'B' Ordinary non-voting

£1

1

6,001