WALLACE & WALLACE ENG LIMITED - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 03465154 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2017

FOR

WALLACE & WALLACE ENGINEERING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S F WALLACE

MRS C M WALLACE

N S WALLACE

SECRETARY:

N S WALLACE

REGISTERED OFFICE:

TURNPIKE HOUSE

1208/1210 LONDON ROAD

LEIGH ON SEA

ESSEX

SS9 2UA

REGISTERED NUMBER:

03465154 (England and Wales)

ACCOUNTANTS:

SEGRAVE & PARTNERS LLP

CHARTERED ACCOUNTANTS

TURNPIKE HOUSE

1208/1210 LONDON ROAD

LEIGH ON SEA

ESSEX

SS9 2UA

FIXED ASSETS

Tangible assets

4

212

249

CURRENT ASSETS

Debtors

5

14,424

34,742

Cash at bank

53,508

50,087

67,932

84,829

CREDITORS

Amounts falling due within one year

6

4,064

12,422

NET CURRENT ASSETS

63,868

72,407

TOTAL ASSETS LESS CURRENT LIABILITIES

64,080

72,656

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

63,080

71,656

SHAREHOLDERS' FUNDS

64,080

72,656

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2017 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 12 January 2018 and were signed on its behalf by:

S F WALLACE - Director

MRS C M WALLACE - Director

1.	STATUTORY INFORMATION

Wallace & Wallace Engineering Limited 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

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

Plant and machinery

-

10% on cost

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

25% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 July 2016

and 30 June 2017

42,647

4,931

2,124

49,702

DEPRECIATION

At 1 July 2016

42,646

4,684

2,123

49,453

Charge for year

-

37

-

37

At 30 June 2017

42,646

4,721

2,123

49,490

NET BOOK VALUE

At 30 June 2017

1

210

1

212

At 30 June 2016

1

247

1

249

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

14,250

34,568

Other debtors

174

174

14,424

34,742

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Tax

359

3,708

VAT

2,372

6,536

Other creditors

27

515

Directors' current accounts

49

49

Accrued expenses

1,257

1,614

4,064

12,422