WOODALL_STEELS_LIMITED - Accounts

WOODALL STEELS LIMITED - Company Information

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Company Registration No. 00941751 (England and Wales)

WOODALL STEELS LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

WOODALL STEELS LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

WOODALL STEELS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

22,652

28,001

Current assets

Stocks

31,243

36,552

Debtors

267,267

299,846

Cash at bank and in hand

122,950

125,008

421,460

461,406

Creditors: amounts falling due within one year

(171,247)

(251,605)

Net current assets

250,213

209,801

Total assets less current liabilities

272,865

237,802

Provisions for liabilities

(19)

(220)

272,846

237,582

Capital and reserves

Called up share capital

1,000

Profit and loss account

271,846

236,582

Shareholders' funds

272,846

237,582

WOODALL STEELS LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 MARCH 2014

- 2 -

For the financial year ended 31 March 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board and authorised for issue on 27 October 2014

J P Roe

Director

Company Registration No. 00941751

WOODALL STEELS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention.

1.2

Turnover

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

1.3

Tangible fixed assets and depreciation

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:

Plant and machinery

20% Straight line

Fixtures, fittings & equipment

20% Straight line

Motor vehicles

25% Straight line

1.4

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.5

Stock

Stock is valued at the lower of cost and net realisable value.

1.6

Deferred taxation

Deferred taxation is provided at appropriate rates on all timing differences using the liability method only to the extent that, in the opinion of the directors, there is a reasonable probability that a liability or asset will crystallise in the foreseeable future.

WOODALL STEELS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2014

- 4 -

Fixed assets

Tangible assets

Cost

At 1 April 2013

253,830

Additions

10,060

Disposals

(13,608)

At 31 March 2014

250,282

Depreciation

At 1 April 2013

225,829

On disposals

(13,608)

Charge for the year

15,409

At 31 March 2014

227,630

Net book value

At 31 March 2014

22,652

At 31 March 2013

28,001

Share capital

2014

2013

Allotted, called up and fully paid

1,000 Ordinary Shares of £1 each

1,000

Related party relationships and transactions

Other transactions

Included within other creditors are amounts due to the directors J Roe of £nil (2013: £9,685) D Roe of £nil (2013:£10,056) by way of unsecured loans.