WILLIAM OLIVER & SONS LIMITED |
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Chartered Accountants' report to the board of directors on the preparation of the unaudited |
abbreviated accounts of WILLIAM OLIVER & SONS LIMITED for the period ended 31 October |
2015 |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your |
approval the abbreviated accounts of WILLIAM OLIVER & SONS LIMITED for the period ended |
31 October 2015 which comprise of the balance sheet and the related notes from the company's |
accounting records and from information and explanations you have given us. |
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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/membershandbook. |
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This report is made solely to the Board of Directors of WILLIAM OLIVER & SONS LIMITED, as a body, |
in accordance with your instructions. Our work has been undertaken solely to prepare for your approval |
the accounts of WILLIAM OLIVER & SONS LIMITED and state those matters that we have agreed to |
state to the Board of Directors of WILLIAM OLIVER & SONS LIMITED, 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 WILLIAM OLIVER & SONS |
LIMITED and its Board of Directors as a body for our work or for this report. |
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It is your duty to ensure that WILLIAM OLIVER & SONS LIMITED has kept adequate accounting |
reports and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial |
position and profit of WILLIAM OLIVER & SONS LIMITED. You consider that WILLIAM OLIVER & |
SONS LIMITED is exempt from the statutory audit requirement for the period. |
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We have not been instructed to carry out an audit or a review of the accounts of WILLIAM OLIVER |
& SONS LIMITED. 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 abbreviated accounts. |
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J B Cooke & Co |
Chartered Accountants |
Suites 108/109 |
Maple House |
High Street |
Potters Bar |
EN6 5BS |
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23 June 2016 |
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WILLIAM OLIVER & SONS LIMITED
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Registered number: |
04577907
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Abbreviated Balance Sheet |
as at 31 October 2015
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Notes |
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2015 |
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2014 |
£ |
£ |
Fixed assets |
Tangible assets |
2 |
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137 |
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182 |
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Current assets |
Cash at bank and in hand |
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202 |
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211 |
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Creditors: amounts falling due within one year |
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(35,943) |
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(34,707) |
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Net current liabilities |
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(35,741) |
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(34,496) |
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Net liabilities |
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(35,604) |
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(34,314) |
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Capital and reserves |
Called up share capital |
3 |
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2 |
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2 |
Profit and loss account |
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(35,606) |
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(34,316) |
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Shareholders' funds |
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(35,604) |
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(34,314) |
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The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
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Members have not required the company to obtain an audit in accordance with section 476 of the Act.
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The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
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Mr W G S Oliver |
Director |
Approved by the board on 23 June 2016
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WILLIAM OLIVER & SONS LIMITED
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Notes to the Abbreviated Accounts |
for the year ended 31 October 2015
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
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Turnover |
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Turnover represents the value, net of value added tax and discounts, of goods and services supplied to customers.
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Depreciation |
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Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
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Plant and machinery |
25% of net book value
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Deferred taxation |
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Full provision is made for material deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
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Foreign currencies |
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Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account. |
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2 |
Tangible fixed assets |
£ |
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Cost |
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At 1 November 2014 |
1,370 |
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At 31 October 2015 |
1,370 |
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Depreciation |
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At 1 November 2014 |
1,188 |
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Charge for the year |
45 |
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At 31 October 2015 |
1,233 |
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Net book value |
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At 31 October 2015 |
137 |
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At 31 October 2014 |
182 |
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3 |
Share capital |
Nominal |
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2015 |
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2015 |
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2014 |
value |
Number |
£ |
£ |
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Allotted, called up and fully paid: |
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Ordinary shares
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£1 each |
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2 |
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2 |
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2 |
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