TIM WALE LIMITED - Accounts 2014


2013-04-012014-03-3103811002falsetruehttp://www.companieshouse.gov.uk/pt:PlantMachinery2013-03-31http://www.companieshouse.gov.uk/pt:InvestmentProperties2013-04-012014-03-31http://www.companieshouse.gov.uk/cd:Director12013-04-012014-03-31http://www.companieshouse.gov.uk/pt:PlantMachinery2014-03-31http://www.companieshouse.gov.uk/pt:FixturesFittings2013-03-31http://www.companieshouse.gov.uk/pt:FixturesFittings2014-03-31http://www.companieshouse.gov.uk/pt:ToolsEquipment2013-03-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12013-04-012014-03-31http://www.companieshouse.gov.uk/pt:ToolsEquipment2014-03-31http://www.companieshouse.gov.uk/pt:MotorCars2013-03-31http://www.companieshouse.gov.uk/pt:PlantMachinery2013-04-012014-03-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12014-03-31http://www.companieshouse.gov.uk/pt:MotorCars2014-03-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12013-03-31http://www.companieshouse.gov.uk/pt:FixturesFittings2013-04-012014-03-31http://www.companieshouse.gov.uk/pt:ToolsEquipment2013-04-012014-03-31http://www.companieshouse.gov.uk/pt:MotorCars2013-04-012014-03-31http://www.companieshouse.gov.uk/2012-04-012013-03-31http://www.companieshouse.gov.uk/2013-04-012014-03-31http://www.companieshouse.gov.uk/2013-03-31http://www.companieshouse.gov.uk/pt:InvestmentProperties2013-03-31http://www.companieshouse.gov.uk/2014-03-31http://www.companieshouse.gov.uk/pt:InvestmentProperties2014-03-31http://www.companieshouse.gov.uk/cd:EntityAccountantsOrAuditors2013-04-012014-03-31http://www.companieshouse.gov.uk/2013-03-31iso4217:GBPxbrli:sharesxbrli:pure
Registered number: 03811002

Tim Wale Ltd

ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2014

Prepared By:
Witcombs
Chartered Accountants
Turnfields Gate
THATCHAM
Berkshire
RG19 4PT


Tim Wale Ltd

ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 March 2014
INDEX TO THE ACCOUNTS
Abbreviated Balance Sheet2
Notes to the Abbreviated Accounts3
The company's registered number is 03811002


Tim Wale Ltd

Registered Number: 03811002
BALANCE SHEET AT 31 MARCH 2014
20142013
Notes££
FIXED ASSETS
Tangible assets24,2314,720
CURRENT ASSETS
Stock4,7504,750
Debtors (amounts falling due within one year)342,32527,010
Debtors (amounts falling due after more than one year)36,3131,970
53,38833,730
CREDITORS: Amounts falling due within one year39,15028,680
NET CURRENT ASSETS14,2385,050
TOTAL ASSETS LESS CURRENT LIABILITIES18,4699,770
CREDITORS: Amounts falling due after more than one year418,4679,763
NET ASSETS27
CAPITAL AND RESERVES
Called up share capital522
Profit and loss account-5
SHAREHOLDERS' FUNDS27
For the year ending 31 March 2014 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 19 December 2014 and signed on their behalf by
Tim Wale
Director


Tim Wale Ltd

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2014
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1b. Cash Flow Statement
The Company is exempt from including a statement of cash flows in its accounts in accordance with Financial Reporting Standard for Smaller Entities (effective April 2008).
1c. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Investment Properties 15%
Plant and Machinery 25%
Fixtures and Fittings 15%
Motor Cars 25%
1d. Investment Properties
Investment properties are included in the financial statements at open market value. No depreciation is provided on such property in compliance with the Financial Reporting Standard for Smaller Entities. This departure from Companies Act requirements is necessary to show a true and fair view.
1e. Stocks
Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks.
1f. Taxation
Corporation tax payable is provided on taxable profits at the current rates.
Provision is made for deferred taxation in so far as a liability or asset has arisen as a result of transactions that had occurred by the balance sheet date and have given rise to an obligation to pay more tax in the future, or the right to pay less tax in the future. An asset has not been recognised to the extent that the transfer of economic benefits in the future is uncertain. Deferred tax assets and liabilities recognised have not been discounted.
1g. Turnover
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.


Tim Wale Ltd

2. TANGIBLE FIXED ASSETS
InvestmentPlant andFixtures
PropertiesMachineryand FittingsEquipmentMotor CarsTotal
££££££
Cost
At 1 April 20133,13913,1762,1451,5503,40023,410
At 31 March 20143,13913,1762,1451,5503,40023,410
Depreciation
At 1 April 20133,13910,0311,4881,5502,48218,690
For the year-16198-230489
At 31 March 20143,13910,1921,5861,5502,71219,179
Net Book Amounts
At 31 March 2014-2,984559-6884,231
At 31 March 2013-3,145657-9184,720
3. DEBTORS 20142013
££
Amounts falling due within one year:
Trade debtors17,07419,131
Other debtors25,2517,879
42,32527,010
Amounts falling due after more than one year:
Long term debtor6,3131,970
6,3131,970
4. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20142013
££
Bank loans and overdrafts18,4679,763
18,4679,763


Tim Wale Ltd

5. SHARE CAPITAL 20142013
££
Allotted, issued and fully paid:
2 Class 1 shares of £1 each22
22
6. TRANSACTIONS WITH DIRECTORS
As of 31 March 2013 there was outstanding loan to a director of the company of £7,879. During the year the company made a further loan to the director of £17,372. As of 31 March 2014 the outstanding balance of the loan to the director was £25,251