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Abbreviated Unaudited Accounts for the Year Ended 31 March 2016 |
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Western Circle Ltd |
REGISTERED NUMBER:
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Abbreviated Unaudited Accounts for the Year Ended 31 March 2016 |
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Western Circle Ltd |
Western Circle Ltd (Registered number: 07581337) |
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Contents of the Abbreviated Accounts |
for the Year Ended 31 March 2016 |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 3 |
Western Circle Ltd |
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Company Information |
for the Year Ended 31 March 2016 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
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Western Circle Ltd (Registered number: 07581337) |
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Abbreviated Balance Sheet |
31 March 2016 |
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31.3.16 | 31.3.15 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 2 |
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Tangible assets | 3 |
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CURRENT ASSETS |
Debtors |
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Prepayments and accrued income |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 4 |
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Revaluation reserve |
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Profit and loss account | ( |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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The financial statements were approved by the Board of Directors on
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Western Circle Ltd (Registered number: 07581337) |
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Notes to the Abbreviated Accounts |
for the Year Ended 31 March 2016 |
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1. | ACCOUNTING POLICIES |
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Accounting convention |
The financial statements have been prepared under the historical cost convention as modified by the revaluation |
of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective January |
2015). |
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Turnover |
Turnover represented net invoiced sales of services, excluding value added tax. |
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Turnover on loan interest receivable is recognised on an accruals basis after making allowance for bad and |
doubtful debt. |
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Internally generated intangible assets |
Costs incurred during the development phase of the market leading software that has been developed internally |
to facilitate the core activity of the business are capitalised as an internally generated intangible asset. This |
intangible asset is then revalued at its replacement cost and amortised over its estimated useful economic life of |
five years. |
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A full year's amortisation charge is provided for in the first year. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Computer equipment | - |
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Deferred tax |
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by |
the balance sheet date except that: |
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- the recognition of deferred tax assets is limited to the extent that the company anticipates to make sufficient |
taxable profits in the future to absorb the reversal of the underlying timing differences. |
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Deferred tax balances are not discounted. |
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2. | INTANGIBLE FIXED ASSETS |
Total |
£ |
COST OR VALUATION |
At 1 April 2015 |
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Additions |
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Revaluations |
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At 31 March 2016 |
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AMORTISATION |
At 1 April 2015 |
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Amortisation for year |
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At 31 March 2016 |
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NET BOOK VALUE |
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At 31 March 2016 |
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At 31 March 2015 |
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Western Circle Ltd (Registered number: 07581337) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 March 2016 |
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3. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 April 2015 |
and 31 March 2016 |
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DEPRECIATION |
At 1 April 2015 |
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Charge for year |
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At 31 March 2016 |
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NET BOOK VALUE |
At 31 March 2016 |
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At 31 March 2015 |
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4. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.16 | 31.3.15 |
value: | £ | £ |
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Ordinary | £1 |
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Allotted and issued: |
Number: | Class: | Nominal | 31.3.16 | 31.3.15 |
value: | £ | £ |
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Preference | £10,000 |
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5. | ULTIMATE PARENT COMPANY |
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ultimate parent company. |