E.W._WATTS_(WISHAW)_LIMIT - Accounts

E.W. WATTS (WISHAW) LIMITED - Company Information

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Company Registration No. 00293258 (England and Wales)

E.W. WATTS (WISHAW) LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2014

E.W. WATTS (WISHAW) LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

E.W. WATTS (WISHAW) LIMITED

ABBREVIATED BALANCE SHEET

AS AT

25 MARCH 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

1,230,277

1,240,219

Current assets

Debtors

27,337

43,083

27,337

43,083

Creditors: amounts falling due within one year

(102,942)

(138,767)

Net current liabilities

(75,605)

(95,684)

Total assets less current liabilities

1,154,672

1,144,535

Creditors: amounts falling due after more than one year

(489,245)

(506,545)

Provisions for liabilities

(5,493)

(7,377)

659,934

630,613

Capital and reserves

Called up share capital

150

Share premium account

2,477

Profit and loss account

657,307

627,986

Shareholders' funds

659,934

630,613

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.

Director's responsibilities:

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

The director acknowledges his 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 for issue on 11 December 2014

I.R. Watts

Director

Company Registration No. 00293258

E.W. WATTS (WISHAW) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts. Income is recognised when goods are physically delivered to the customer.

1.3

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land and buildings 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:

Freehold land and buildings

Not depreciated

Plant and machinery

25% reducing balance

Fixed assets

Tangible assets

Cost

At 26 March 2013 & at 31 March 2014

1,355,359

Depreciation

At 26 March 2013

115,140

Charge for the year

9,942

At 31 March 2014

125,082

Net book value

At 31 March 2014

1,230,277

At 25 March 2013

1,240,219

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £15,039 (2013 - £15,039).

E.W. WATTS (WISHAW) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2014

- 3 -

Creditors: amounts falling due after more than one year

2014

2013

Analysis of loans repayable in more than five years

Total amounts repayable by instalments which are due in more than five years

279,108

281,152

The aggregate amount of creditors for which security has been given amounted to £489,245 (2013 - £506,545).

Share capital

2014

2013

Allotted, called up and fully paid

150 Ordinary shares of £1 each

150

Related party relationships and transactions

Other transactions

The directors hold a controlling interest in E.W. and R.W. Watts Partnership. At the balance sheet date £27,337 (2013 - £43,083) was due from the Watts Partnership to E.W. Watts (Wishaw) Limited.