Registered Number
:
02651857
|
For the year ended 31 December 2016
England and Wales
Unaudited Financial Statements
For the year ended 31 December 2016
Wescott Medical Limited
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
Wescott Medical Limited
Statement of Financial Position
2015
2016
Property
,
plant and equipment
|
7,129
10,694
2
7,129
10,694
304,455
247,578
Trade and other receivables
|
194,698
229,528
3
331,820
Cash and cash equivalents
|
301,055
778,161
830,973
Trade and other payables
:
amounts falling due within one
|
year
|
(210,760)
(154,199)
4
620,213
623,962
Net current assets
Total assets less current liabilities
|
631,091
630,907
631,091
Net assets
630,907
200
200
630,891
630,707
631,091
630,907
Shareholders' funds
For the year ended 31 December 2016 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
|
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006
|
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section
|
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
.
|
In accordance with Section
444
of the Companies Act
2006
,
the Income Statement has not been delivered
.
|
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.
|
Mr Neville Stebbings Director
|
These financial statements were approved and authorised for issue by the Board on 21 September 2017 and were signed by:
|
The notes form part of these financial statements
|
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For the year ended 31 December 2016
Wescott Medical Limited
Notes to the Financial Statements
Statutory Information
Wescott Medical Limited is a private limited company
,
limited by shares
,
domiciled in England and Wales
,
registration
|
number
02651857
.
|
Unit 3b Drum Industrial Estate
Chester le Street
County Durham
DH2 1AG
The presentation currency is £ sterling
.
|
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section
1
A 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 costs convention as
|
modified by the revaluation of certain assets
.
|
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
|
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. An amount equal to the excess of the annual depreciation charge on revalued assets over the notional historic cost depreciation charge on those assets is transferred annually from the revaluation reserve to the profit and loss reserve. 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:
|
Motor vehicles
Fixtures and fittings
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
|
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the profit and loss account.
|
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term. The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
|
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For the year ended 31 December 2016
Wescott Medical Limited
Notes to the Financial Statements Continued
2
.
Property
,
plant and equipment
|
Motor vehicles
62,484
31,044
31,440
31,440
31,044
62,484
Provision for depreciation and impairment
|
51,790
25,446
26,344
Charge for year
3,565
1,866
1,699
55,355
27,312
28,043
3,397
3,732
7,129
5,096
5,598
10,694
3
.
Trade and other receivables
|
2015
2016
192,761
157,431
36,767
37,267
194,698
229,528
4
.
Trade and other payables
:
amounts falling due within one year
|
2015
2016
78,140
116,780
Taxation and social security
|
73,159
88,894
2,900
5,086
154,199
210,760
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