Company Registration No. 00293258 (England and Wales)
E.W. WATTS (WISHAW) LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2015
E.W. WATTS (WISHAW) LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
E.W. WATTS (WISHAW) LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2015
31 March 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,222,821
1,230,277
Current assets
Debtors
70,445
27,337
70,445
27,337
Creditors: amounts falling due within one year
3
(136,946)
(102,942)
Net current liabilities
(66,501)
(75,605)
Total assets less current liabilities
1,156,320
1,154,672
Creditors: amounts falling due after more than one year
4
(469,929)
(489,245)
Provisions for liabilities
(4,090)
(5,493)
682,301
659,934
Capital and reserves
Called up share capital
5
150
150
Share premium account
2,477
2,477
Profit and loss account
679,674
657,307
Shareholders' funds
682,301
659,934
For the financial year ended 31 March 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 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 15 December 2015
I.R. Watts
Director
Company Registration No. 00293258
E.W. WATTS (WISHAW) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 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 recognised when goods are physically delivered to the customer.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land and buildings 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:
Freehold land and buildings
Not depreciated
Plant and machinery
25% reducing balance
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2014 & at 31 March 2015
1,355,359
Depreciation
At 1 April 2014
125,082
Charge for the year
7,456
At 31 March 2015
132,538
Net book value
At 31 March 2015
1,222,821
At 31 March 2014
1,230,277
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £15,039 (2014 - £15,039).
E.W. WATTS (WISHAW) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 3 -
4
Creditors: amounts falling due after more than one year
2015
2014
£
£
Analysis of loans repayable in more than five years
Total amounts repayable by instalments which are due in more than five years
260,335
279,108
The aggregate amount of creditors for which security has been given amounted to £469,929 (2014 - £489,245).
5
Share capital
2015
2014
£
£
Allotted, called up and fully paid
150 Ordinary shares of £1 each
150
150
6
Related party relationships and transactions
Other transactions
The directors hold a controlling interest in E.W. and R.W. Watts Partnership. At the balance sheet date £70,445 (2014 - £27,337) was due from the Watts Partnership to E.W. Watts (Wishaw) Limited.