Wallis Marketing Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 02821561 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH NOVEMBER 2016

FOR

WALLIS MARKETING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J K Wallis

Mrs B A Wallis

SECRETARY:

Mrs B A Wallis

REGISTERED OFFICE:

5 Beaumont Gate

Shenley Hill

Radlett

Hertfordshire

WD7 7AR

REGISTERED NUMBER:

02821561 (England and Wales)

ACCOUNTANTS:

Nagler Simmons

Chartered Accountants

5 Beaumont Gate

Shenley Hill

Radlett

Hertfordshire

WD7 7AR

FIXED ASSETS

Tangible assets

2

264

396

CURRENT ASSETS

Debtors

3

10,026

14,490

Cash at bank and in hand

16,362

25,989

26,388

40,479

CREDITORS

Amounts falling due within one year

4

56,851

55,730

NET CURRENT LIABILITIES

(30,463

)

(15,251

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(30,199

)

(14,855

)

CAPITAL AND RESERVES

Called up share capital

5

200

200

Profit and loss account

6

(30,399

)

(15,055

)

SHAREHOLDERS' FUNDS

(30,199

)

(14,855

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 14th July 2017 and were signed on its behalf by:

J K Wallis - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on a going concern basis which assumes that the company will

continue in operational existence for the foreseeable future having adequate funds to meet its liabilities as they

fall due, despite the existence of net current liabilities.

The validity of this assumption depends on the continued provision of adequate facilities by the company's

directors/ shareholders and that the amount of loans , included within creditors ,will not be demanded until

sufficient liquidity allows.

Accordingly the directors consider that it is appropriate for the financial statements to be prepared on the going

concern basis.

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 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.

Plant and machinery etc

-

25% on reducing balance

2.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st December 2015

and 30th November 2016

25,530

DEPRECIATION

At 1st December 2015

25,134

Charge for year

132

At 30th November 2016

25,266

NET BOOK VALUE

At 30th November 2016

264

At 30th November 2015

396

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.16

30.11.15

£

£

Trade debtors

-

4,416

Prepayments and accrued income

10,026

10,074

10,026

14,490

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.16

30.11.15

£

£

Trade creditors

335

2,137

Tax

20,162

21,895

VAT

5,355

5,688

Other creditors

1,000

1,000

Directors' current accounts

26,168

21,046

Accruals and deferred income

3,831

3,964

56,851

55,730

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.16

30.11.15

value:

£

£

100

Ordinary

£1

100

100

100

A Ordinary

£1

100

100

200

200

6.

RESERVES

Profit

and loss

account

£

At 1st December 2015

(15,055

)

Profit for the year

80,656

Dividends

(96,000

)

At 30th November 2016

(30,399

)

7.	RELATED PARTY DISCLOSURES

During the year, total dividends of £84,000 (2015 - £82,000) were paid to the directors .