Abbreviated Company Accounts - THE WOODCOTE FLYING CLUB LIMITED

Abbreviated Company Accounts - THE WOODCOTE FLYING CLUB LIMITED

THE WOODCOTE FLYING CLUB LIMITED - Company Information

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Registered Number 08101319

THE WOODCOTE FLYING CLUB LIMITED

Abbreviated Accounts

30 June 2016

THE WOODCOTE FLYING CLUB LIMITED Registered Number 08101319

Abbreviated Balance Sheet as at 30 June 2016

Notes 2016 2015
£ £
Fixed assets
Intangible assets 2 4,577 5,339
Tangible assets 3 5,549 6,620
10,126 11,959
Current assets
Stocks 8,280 6,627
Debtors 13,840 6,629
Cash at bank and in hand 3,195 3,081
25,315 16,337
Creditors: amounts falling due within one year (29,492) (22,081)
Net current assets (liabilities) (4,177) (5,744)
Total assets less current liabilities 5,949 6,215
Provisions for liabilities - (1,324)
Total net assets (liabilities) 5,949 4,891
Capital and reserves
Called up share capital 4 100 100
Profit and loss account 5,849 4,791
Shareholders' funds 5,949 4,891
  • For the year ending 30 June 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 18 December 2017

And signed on their behalf by:
S Green, Director

THE WOODCOTE FLYING CLUB LIMITED Registered Number 08101319

Notes to the Abbreviated Accounts for the period ended 30 June 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover policy
Turnover represents amounts receivable for good 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 it expected useful life, as follows:
Computer equipment- 25% reducing balance
Fixtures, fittings & equipment - 15% reducing balance

Intangible assets amortisation policy
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

Other accounting policies
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (united Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

2Intangible fixed assets
£
Cost
At 1 July 2015 7,625
Additions -
Disposals -
Revaluations -
Transfers -
At 30 June 2016 7,625
Amortisation
At 1 July 2015 2,286
Charge for the year 762
On disposals -
At 30 June 2016 3,048
Net book values
At 30 June 2016 4,577
At 30 June 2015 5,339
3Tangible fixed assets
£
Cost
At 1 July 2015 9,994
Additions -
Disposals -
Revaluations -
Transfers -
At 30 June 2016 9,994
Depreciation
At 1 July 2015 3,374
Charge for the year 1,071
On disposals -
At 30 June 2016 4,445
Net book values
At 30 June 2016 5,549
At 30 June 2015 6,620
4Called Up Share Capital
Allotted, called up and fully paid:
2016
£		 2015
£
100 Ordinary shares of £1 each 100 100

5Transactions with directors

Name of director receiving advance or credit: S Green
Description of the transaction: directors current account
Balance at 1 July 2015: £ 0
Advances or credits made: £ 5,431
Advances or credits repaid: -
Balance at 30 June 2016: £ 5,431

The directors loan was repaid on 28 February 2017