Company Registration No. 07037821 (England and Wales)
J WHELAN DECORATING AND REFURBISHMENT LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2015
J WHELAN DECORATING AND REFURBISHMENT LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
J WHELAN DECORATING AND REFURBISHMENT LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 OCTOBER 2015
31 October 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Intangible assets
2
6,807
8,544
Tangible assets
2
20,573
27,660
27,380
36,204
Current assets
Debtors
16,750
5,881
Cash at bank and in hand
66,852
60,930
83,602
66,811
Creditors: amounts falling due within one year
(25,609)
(21,869)
Net current assets
57,993
44,942
Total assets less current liabilities
85,373
81,146
Creditors: amounts falling due after more than one year
(18,324)
(21,966)
67,049
59,180
Capital and reserves
Called up share capital
3
1
1
Profit and loss account
67,048
59,179
Shareholders' funds
67,049
59,180
For the financial year ended 31 October 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 13 May 2016
Mr J Whelan
Director
Company Registration No. 07037821
J WHELAN DECORATING AND REFURBISHMENT LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2015
- 2 -
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 and trade discounts. Income is shown in the period to which it relates.
1.4
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of ten years.
1.5
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
25% on reducing balance
Motor vehicles
25% on reducing balance
1.6
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
J WHELAN DECORATING AND REFURBISHMENT LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2015
- 3 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 November 2014
17,374
30,203
47,577
Disposals
-
(988)
(988)
At 31 October 2015
17,374
29,215
46,589
Depreciation
At 1 November 2014
8,830
2,543
11,373
On disposals
-
(758)
(758)
Charge for the year
1,737
6,857
8,594
At 31 October 2015
10,567
8,642
19,209
Net book value
At 31 October 2015
6,807
20,573
27,380
At 31 October 2014
8,544
27,660
36,204
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
1 Ordinary share of £1 each
1
1