West Midlands Industrial Supplies Ltd
|
For the year ended 30 November 2015
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 07465639
West Midlands Industrial Supplies Ltd
For the year ended 30 November 2015
1
Accountants' Report
2
Balance Sheet
3 to 4
Notes to the Abbreviated Financial Statements
West Midlands Industrial Supplies Ltd
Accountants' Report
For the year ended 30 November 2015
As described on the balance sheet you are responsible for the preparation of the financial statements for the
|
year ended
30
November
2015
and you consider that the company is exempt from an audit under the
|
Companies Act
2006
.
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In accordance with your instructions
,
we have compiled these unaudited financial statements in order to assist
|
you to fulfil your statutory responsibilities
,
from the accounting records and information and explanations
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supplied to us
.
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Vickers Reynolds & Co (Lye) Ltd
'The Stables'
Dudley road
Lye, Stourbridge
West Midlands
DY9 8EL
1 of 4
Abbreviated Balance Sheet
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West Midlands Industrial Supplies Ltd
2015
2014
2
16,876
11,722
16,876
11,722
48,331
69,377
53,995
41,267
2,096
15,433
112,740
117,759
Creditors
:
amounts falling due within one year
|
(69,592)
(81,482)
48,167
31,258
Net current assets
Total assets less current liabilities
|
48,134
59,889
Creditors
:
amounts falling due after more than one year
|
3
(34,976)
(23,204)
24,930
Net assets
24,913
1
4
1
24,929
24,912
24,930
24,913
Shareholders funds
For the year ended 30 November 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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Director responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476,
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2) The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts
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These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
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Date approved by the board: 28 January 2016
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John Ambrose Nelson Director
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Signed on behalf of the board of directors
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2 of 4
Notes to the Abbreviated Financial Statements
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West Midlands Industrial Supplies Ltd
For the year ended 30 November 2015
The financial statements are 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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
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Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of
|
exchange ruling at the balance sheet date
.
Transactions in foreign currencies are recorded at the rate ruling at
|
the date of the transaction
.
All foreign exchange differences are included to the profit and loss account
.
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Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
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Stocks and work in progress
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Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
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11,722
5,154
16,876
16,876
11,722
3 of 4
Notes to the Abbreviated Financial Statements
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West Midlands Industrial Supplies Ltd
For the year ended 30 November 2015
2014
2015
3
Creditors due after more than one year
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23,204
34,976
Allotted called up and fully paid
|
2015
2014
1
Class A shares of £
1
.
00
each
|
1
1
1
1
4 of 4