Wheel Plant Limited - Accounts

Wheel Plant Limited - Accounts

WHEEL PLANT LIMITED - Company Information

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Registered Number : 06160401
England and Wales

 

 

 

WHEEL PLANT LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 April 2016

End date: 31 March 2017

Wheel Plant Limited
Contents Page
For the year ended 31 March 2017
As described in the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 31 March 2017 and you consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.



....................................................
Peak Management Associates (Ashbourne) Limited
King Edward Street
Ashbourne
Derbyshire
DE6 1BW
29 December 2017
1
 
 		 Notes
 		 2017
£		   2016
£
Fixed assets      
Tangible fixed assets 2 1,523,689    1,296,102 
1,523,689    1,296,102 
Current assets      
Debtors 92,126    108,366 
Cash at bank and in hand 17,726    47,577 
109,852    155,943 
Creditors: amount falling due within one year (384,528)   (545,386)
Net current assets (274,676)   (389,443)
 
Total assets less current liabilities 1,249,013    906,659 
Creditors: amount falling due after more than one year (430,361)   (468,688)
Provisions for liabilities (335,544)   (115,270)
Net assets 483,108    322,701 
 

Capital and reserves 		     
Called up share capital 3 1    1 
Profit and loss account 483,107    322,700 
Shareholders funds 483,108    322,701 
 


For the year ended 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's Responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The members have agreed to the preparation of abridged accounts.
Signed on behalf of the board of directors


--------------------------------
Mr P D Wheeldon
Director

Date approved by the board: 29 December 2017
2
Statutory Information
Wheel Plant Limited is a private limited company, limited by shares, domiciled in England and Wales, registration number 06160401.

The presentation currency is £ sterling.
1.

Accounting Policies

Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Financial Reporting Standard for Smaller Entities (effective January 2016).
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: 
Plant and Machinery 15% Reducing Balance
Computer Equipment 33% Reducing Balance
Motor Vehicles 25% Reducing Balance
Provisions
Provisions are recognised when the Company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation taking into account the risks and uncertainties surrounding the obligation.


2.

Tangible fixed assets

Cost or Valuation Land and Buildings   Plant and Machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £   £
At 01 April 2016 719,750    840,427    41,830    3,281    1,605,288 
Additions 3,240    379,847    21,075    -    404,162 
Disposals -    (48,080)   -    -    (48,080)
At 31 March 2017 722,990    1,172,194    62,905    3,281    1,961,370 
Depreciation
At 01 April 2016 -    291,013    15,902    2,271    309,186 
Charge for year -    134,961    11,751    336    147,048 
On disposals -    (18,553)   -    -    (18,553)
At 31 March 2017 -    407,421    27,653    2,607    437,681 
Net book values
Closing balance as at 31 March 2017 722,990    764,773    35,252    674    1,523,689 
Opening balance as at 01 April 2016 719,750    549,414    25,928    1,010    1,296,102 

The net book value of Plant and Machinery includes £416,163(2016 £407,980) in respect of assets leased under finance leases or hire purchase contracts.

3.

Share Capital

Authorised
1 Class A shares of £1.00 each

Allotted
2017
£		   2016
£
1 Class A shares of £1.00 each 1    1 
1    1 

3