Washbourne Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 00548524 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 April 2014

for

Washbourne Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

R J Washbourne

Mrs S M Washbourne

T F Washbourne

SECRETARY:

Mrs S M Washbourne

REGISTERED OFFICE:

37-43 Newport Road

Caldicot

Monmouthshire

NP26 4XB

REGISTERED NUMBER:

00548524 (England and Wales)

ACCOUNTANTS:

Ashmole & Co

Park Chambers

10 Hereford Road

Abergavenny

Monmouthshire

NP7 5PR

FIXED ASSETS

Tangible assets

2

3,971

6,783

CURRENT ASSETS

Stocks

50,510

69,899

Debtors

31,712

47,018

Cash at bank and in hand

24,277

37,066

106,499

153,983

CREDITORS

Amounts falling due within one year

748,147

762,064

NET CURRENT LIABILITIES

(641,648

)

(608,081

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(637,677

)

(601,298

)

CAPITAL AND RESERVES

Called up share capital

3

339,002

339,002

Profit and loss account

(976,679

)

(940,300

)

SHAREHOLDERS' FUNDS

(637,677

)

(601,298

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 26 January 2015 and were signed on its behalf by:

T F Washbourne - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, 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 etc

-

25% on cost and 10% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

Contributions payable to the company's pension scheme are charged to the profit and loss account in the period

to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2013

and 30 April 2014

140,465

DEPRECIATION

At 1 May 2013

133,682

Charge for year

2,812

At 30 April 2014

136,494

NET BOOK VALUE

At 30 April 2014

3,971

At 30 April 2013

6,783

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.14

30.4.13

value:

£

£

264,002

Ordinary

£1

339,002

339,002

4.	ULTIMATE PARENT COMPANY

Washbourne (Garage) Limited is regarded by the directors as being the company's ultimate parent company.

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2014 and

30 April 2013:

30.4.14

30.4.13

£

£

R J Washbourne

Balance outstanding at start of year

(28,000

)

(28,000

)

Amounts repaid

-

-

Balance outstanding at end of year

(28,000

)

(28,000

)

6.	GOING CONCERN

During the year the company suffered a trading loss of £36,379 (2013 - £403,009). The accounts have been

prepared under the going concern basis which assumes that the company's bankers and parent company will

provide adequate financial resources to maintain it as such over future periods.