Company Registration No. 03960869 (England and Wales)
B WINFIELDALE & SONS LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
B WINFIELDALE & SONS LTD
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
B WINFIELDALE & SONS LTD
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
14,708
4,642
Current assets
Stocks
3,848
1,825
Debtors
11,327
12,239
Cash at bank and in hand
202
326
15,377
14,390
Creditors: amounts falling due within one year
(27,250)
(22,723)
Net current liabilities
(11,873)
(8,333)
Total assets less current liabilities
2,835
(3,691)
Creditors: amounts falling due after more than one year
(5,887)
-
Provisions for liabilities
(2,631)
(549)
(5,683)
(4,240)
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
(5,783)
(4,340)
Shareholders' funds
(5,683)
(4,240)
B WINFIELDALE & SONS LTD
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2016
31 March 2016
- 2 -
For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have 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 21 December 2016
Mr B Winfieldale
Director
Company Registration No. 03960869
B WINFIELDALE & SONS LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
1
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 January 2015).
The Director continually monitors the financial position of the Company, taking into account the latest cashflow forecasts and the company's available facilities. The Director has committed his continued support of the Company for the next 12 months. Consequently, the Director considers it appropriate to prepare the accounts on the going concern basis.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets 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:
Plant and machinery
10% reducing balance
Fixtures, fittings & equipment
25% reducing balance
Motor vehicles
25% reducing balance
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2015
43,835
Additions
14,915
Disposals
(12,068)
At 31 March 2016
46,682
Depreciation
At 1 April 2015
39,191
On disposals
(11,558)
Charge for the year
4,341
At 31 March 2016
31,974
Net book value
At 31 March 2016
14,708
At 31 March 2015
4,642
B WINFIELDALE & SONS LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 4 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary of £1 each
100
100
4
Ultimate parent company
The ultimate controlling party is the director, Mr B Winfieldale, by virtue of his shareholding.
5
Related party relationships and transactions
Other transactions
Included in other creditors is an amount £10,550 (2015: £5,981) due to the director, Mr B Winfieldale. This loan is interest free and repayable on demand.