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Report of the Director and |
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Unaudited Financial Statements for the Year Ended 31 May 2015 |
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A & C Wood Limited |
REGISTERED NUMBER:
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Report of the Director and |
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Unaudited Financial Statements for the Year Ended 31 May 2015 |
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for |
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A & C Wood Limited |
A & C Wood Limited (Registered number: 07637338) |
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Contents of the Financial Statements |
for the Year Ended 31 May 2015 |
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Page |
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Company Information | 1 |
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Report of the Director | 2 |
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Profit and Loss Account | 3 |
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Balance Sheet | 4 |
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Notes to the Financial Statements | 5 |
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A & C Wood Limited |
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Company Information |
for the Year Ended 31 May 2015 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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A & C Wood Limited (Registered number: 07637338) |
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Report of the Director |
for the Year Ended 31 May 2015 |
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The director presents his report with the financial statements of the company for the year ended 31 May 2015. |
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DIRECTOR |
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This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating |
to small companies. |
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ON BEHALF OF THE BOARD: |
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A & C Wood Limited (Registered number: 07637338) |
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Profit and Loss Account |
for the Year Ended 31 May 2015 |
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31.5.15 | 31.5.14 |
Notes | £ | £ |
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TURNOVER |
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Cost of sales |
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GROSS (LOSS)/PROFIT | ( |
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Administrative expenses |
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OPERATING (LOSS)/PROFIT | 2 | ( |
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Interest receivable and similar income |
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(380,723 | ) | 34,627 |
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Interest payable and similar charges |
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(LOSS)/PROFIT ON ORDINARY
ACTIVITIES BEFORE TAXATION |
( |
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Tax on (loss)/profit on ordinary activities | 3 |
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(LOSS)/PROFIT FOR THE FINANCIAL
YEAR |
( |
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A & C Wood Limited (Registered number: 07637338) |
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Balance Sheet |
31 May 2015 |
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31.5.15 | 31.5.14 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 7 |
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Profit and loss account | 8 | ( |
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SHAREHOLDERS' FUNDS | ( |
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The director acknowledges his responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
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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 director on
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A & C Wood Limited (Registered number: 07637338) |
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Notes to the Financial Statements |
for the Year Ended 31 May 2015 |
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1. | ACCOUNTING POLICIES |
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Accounting convention |
The financial statements 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 |
Turnover represents net invoiced sales of goods, excluding value added tax. |
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Tangible fixed assets |
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Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
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Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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2. | OPERATING (LOSS)/PROFIT |
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The operating loss (2014 - operating profit) is stated after charging: |
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31.5.15 | 31.5.14 |
£ | £ |
Depreciation - owned assets |
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Director's remuneration and other benefits etc |
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3. | TAXATION |
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Analysis of the tax charge |
The tax charge on the loss on ordinary activities for the year was as follows: |
31.5.15 | 31.5.14 |
£ | £ |
Current tax: |
UK corporation tax |
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Tax on (loss)/profit on ordinary activities |
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A & C Wood Limited (Registered number: 07637338) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 May 2015 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 June 2014 |
and 31 May 2015 |
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DEPRECIATION |
At 1 June 2014 |
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Charge for year |
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At 31 May 2015 |
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NET BOOK VALUE |
At 31 May 2015 |
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At 31 May 2014 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.15 | 31.5.14 |
£ | £ |
Trade debtors | 466,659 | - |
Other debtors | 18,981 | 17,737 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.15 | 31.5.14 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.5.15 | 31.5.14 |
value: | £ | £ |
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Ordinary A | £1 |
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Ordinary B | £1 |
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Ordinary C | £1 |
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15,000 | 15,000 |
A & C Wood Limited (Registered number: 07637338) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 May 2015 |
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8. | RESERVES |
Profit |
and loss |
account |
£ |
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At 1 June 2014 |
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Deficit for the year | ( |
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At 31 May 2015 | ( |
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9. | RELATED PARTY DISCLOSURES |
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Director |
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Creditors include a balance of £1,314,569 (2014 £887,305) due to the director of the company Mr T Wood. |
Interest is charged to the company in respect of this amount at 2% and there have been no fixed terms for |
repayment. |
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C & K Wood (UK) Limited |
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Related Party |
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A company in which Mr T Wood is a director and shareholder. |
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During the period A & C Wood Limited sold services to C & K Wood (UK) Limited totalling £31,250. This |
amount has been received in full during the period. |
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