Company Registration No. 07037821 (England and Wales)
J WHELAN DECORATING AND REFURBISHMENT LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2016
J WHELAN DECORATING AND REFURBISHMENT LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
J WHELAN DECORATING AND REFURBISHMENT LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 OCTOBER 2016
31 October 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
5,069
6,807
Tangible assets
2
16,985
20,573
22,054
27,380
Current assets
Debtors
27,042
16,750
Cash at bank and in hand
76,829
66,852
103,871
83,602
Creditors: amounts falling due within one year
(28,517)
(25,609)
Net current assets
75,354
57,993
Total assets less current liabilities
97,408
85,373
Creditors: amounts falling due after more than one year
(14,310)
(18,324)
Provisions for liabilities
(3,397)
-
79,701
67,049
Capital and reserves
Called up share capital
3
1
1
Profit and loss account
79,700
67,048
Shareholders' funds
79,701
67,049
J WHELAN DECORATING AND REFURBISHMENT LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2016
31 October 2016
- 2 -
For the financial year ended 31 October 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 27 February 2017
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 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).
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.
1.7
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
J WHELAN DECORATING AND REFURBISHMENT LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2016
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 November 2015
17,374
29,215
46,589
Additions
-
2,074
2,074
At 31 October 2016
17,374
31,289
48,663
Depreciation
At 1 November 2015
10,568
8,642
19,210
Charge for the year
1,737
5,662
7,399
At 31 October 2016
12,305
14,304
26,609
Net book value
At 31 October 2016
5,069
16,985
22,054
At 31 October 2015
6,807
20,573
27,380
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
1 Ordinary share of £1 each
1
1