Warriewood Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: 07784721 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

WARRIEWOOD LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R A Allan

Mrs E D Allan

REGISTERED OFFICE:

First Floor

Valley House

Plympton

Plymouth

Devon

PL7 1RF

REGISTERED NUMBER:

07784721 (England and Wales)

ACCOUNTANTS:

Bush & Co Limited

2 Barnfield Crescent

Exeter

Devon

EX1 1QT

FIXED ASSETS

Intangible assets

5

10,000

26,920

Tangible assets

6

14,226

17,719

24,226

44,639

CURRENT ASSETS

Stocks

251

306

Debtors

7

110,216

53,129

Cash at bank and in hand

50,304

52,235

160,771

105,670

CREDITORS

Amounts falling due within one year

8

152,248

103,035

NET CURRENT ASSETS

8,523

2,635

TOTAL ASSETS LESS CURRENT LIABILITIES

32,749

47,274

CREDITORS

Amounts falling due after more than one year

9

(18,958

)

(46,293

)

PROVISIONS FOR LIABILITIES

(765

)

-

NET ASSETS

13,026

981

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

11

12,926

881

SHAREHOLDERS' FUNDS

13,026

981

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

In accordance with Section 444 of the Companies Act 2006, the Profit & Loss has not been delivered.

The financial statements were approved by the Board of Directors on 26 September 2017 and were signed on its behalf by:

Mrs E D Allan - Director

1.	STATUTORY INFORMATION

Warriewood Ltd is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company

Information page.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents invoiced services.

Intangible assets

Amounts paid in connection with the acquisition of licences in 2012 , 2013 and 2014 are being

amortised over their estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & machinery

-

25% on cost

Fixtures & fittings

-

20% on cost

Motor vehicles

-

20% on reducing balance

Computer equipment

-

20% 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss,

except to the extent that it relates to items recognised in other comprehensive income or

directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have

been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in

periods different from those in which they are recognised in financial statements. Deferred tax

is measured using tax rates and laws that have been enacted or substantively enacted by the

year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is

probable that they will be recovered against the reversal of deferred tax liabilities or other future

taxable profits.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 55 .

5.	INTANGIBLE FIXED ASSETS

Licences

£

COST

At 1 January 2016

and 31 December 2016

84,600

AMORTISATION

At 1 January 2016

57,680

Amortisation for year

16,920

At 31 December 2016

74,600

NET BOOK VALUE

At 31 December 2016

10,000

At 31 December 2015

26,920

6.	TANGIBLE FIXED ASSETS

Plant &

Fixtures

Motor

Computer

machinery

& fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2016

750

6,795

18,500

7,994

34,039

Additions

-

524

-

1,600

2,124

At 31 December 2016

750

7,319

18,500

9,594

36,163

DEPRECIATION

At 1 January 2016

703

4,479

6,660

4,478

16,320

Charge for year

47

1,427

2,368

1,775

5,617

At 31 December 2016

750

5,906

9,028

6,253

21,937

NET BOOK VALUE

At 31 December 2016

-

1,413

9,472

3,341

14,226

At 31 December 2015

47

2,316

11,840

3,516

17,719

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

as

restated

£

£

Trade debtors

56,264

40,043

Other debtors

1,648

-

Directors' current accounts

40,056

481

Corporation tax

6,689

6,689

Prepayments

5,559

5,916

110,216

53,129

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

as

restated

£

£

Bank loans and overdrafts

19,583

42,500

Hire purchase contracts

7,752

3,793

Trade creditors

9,891

10,034

Corporation tax

9,141

-

Social security and other taxes

8,902

7,467

Accruals

96,979

39,241

152,248

103,035

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2015

as

restated

£

£

Bank loans - 1-2 years

17,500

19,583

Bank loans - 2-5 years

1,458

18,958

Hire purchase contracts

-

7,752

18,958

46,293

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

as restated

£

£

100

Ordinary

£1

100

100

11.

RESERVES

Retained

earnings

£

At 1 January 2016

22,881

Prior year adjustment

(22,000

)

881

Profit for the year

34,545

Dividends

(22,500

)

At 31 December 2016

12,926

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended

31 December 2016 and 31 December 2015:

2016

2015

as

restated

£

£

R A Allan and Mrs E D Allan

Balance outstanding at start of year

481

-

Amounts advanced

40,057

481

Amounts repaid

(481

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

40,057

481

Interest has been charged on the overdrawn Director's current accounts during the year at the

official rate.

13.	RELATED PARTY DISCLOSURES

During the year, total dividends of £22,500 were paid to the directors .

The directors' loan account was repaid after the year end by way of a dividend.

14.	FIRST YEAR ADOPTION

The date of transition to FRS 102 was 1st January 2015. There have been no adjustments to

any balances made on transition.