Company Registration No. 04032220 (England and Wales)
W COLEMAN & CO LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 AUGUST 2015
31 August 2015
W COLEMAN & CO LTD
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2
Notes to the abbreviated accounts
3 - 4
W COLEMAN & CO LTD
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF W COLEMAN & CO LTD FOR THE YEAR ENDED 31 AUGUST 2015
- 1 -
The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 4 have been prepared.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of W Coleman & Co Ltd for the year ended 31 August 2015
set out on pages
3 to 7 from the company's
accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.
This report is made solely to the Board of Directors of W Coleman & Co Ltd, as a body, in accordance with the terms of our engagement letter dated 2 July 2013. Our work has been undertaken solely to prepare for your approval the financial statements of W Coleman & Co Ltd and state those matters that we have agreed to state to the Board of Directors of W Coleman & Co Ltd, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than W Coleman & Co Ltd and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that W Coleman & Co Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of W Coleman & Co Ltd. You consider that W Coleman & Co Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of W Coleman & Co Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
CC Young & Co Limited
Chartered Accountants
4th Floor, East Wing, Chancery House
53-64 Chancery Lane
London
WC2A 1QS
23 May 2016
W COLEMAN & CO LTD
ABBREVIATED BALANCE SHEET
AS AT 31 AUGUST 2015
- 2 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
3,453
4,604
Current assets
Debtors
211,716
216,475
Cash at bank and in hand
8,607
-
220,323
216,475
Creditors: amounts falling due within one year
(203,027)
(206,794)
Net current assets
17,296
9,681
Total assets less current liabilities
20,749
14,285
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
20,649
14,185
Shareholder's funds
20,749
14,285
For the financial year ended 31 August 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has 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 23 May 2016
Mr Wayne Coleman
Director
Company Registration No. 04032220
W COLEMAN & CO LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2015
- 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 April 2008).
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.
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:
Land and buildings Leasehold
25% on reducing balance
Computer equipment
25% on reducing balance
Fixtures, fittings & equipment
25% on reducing balance
2
Fixed assets
Tangible assets
£
Cost
At 1 September 2014 & at 31 August 2015
46,680
Depreciation
At 1 September 2014 & at 31 August 2015
43,227
Net book value
At 31 August 2015
3,453
At 31 August 2014
4,604
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
W COLEMAN & CO LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2015
- 4 -
4
Transactions with directors
The following directors had interest free loans during the year. The movement on these loans are as follows:
Amount outstanding
Maximum
2015
2014
in period
£
£
£
Director's current account
170,030
194,188
194,188