Company Registration No. 03920405 (England and Wales)
WILSON WINDOWS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
WILSON WINDOWS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
WILSON WINDOWS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
17,828
20,375
Tangible assets
2
19,728
8,566
37,556
28,941
Current assets
Stocks
5,151
15,000
Debtors
86,935
68,877
Cash at bank and in hand
25,613
39,328
117,699
123,205
Creditors: amounts falling due within one year
(82,931)
(79,109)
Net current assets
34,768
44,096
Total assets less current liabilities
72,324
73,037
Creditors: amounts falling due after more than one year
(13,409)
(15,305)
Provisions for liabilities
(3,712)
(1,428)
55,203
56,304
Capital and reserves
Called up share capital
3
2
2
Profit and loss account
55,201
56,302
Shareholders' funds
55,203
56,304
WILSON WINDOWS LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2016
31 March 2016
- 2 -
For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their 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 2016
D P Wilson
Director
Company Registration No. 03920405
WILSON WINDOWS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 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
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life being 20 years.
1.4
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
15% Reducing Balance
Fixtures, fittings & equipment
15% Reducing Balance
Motor vehicles
25% Reducing Balance
1.5
Leasing and hire purchase commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.6
Stock and work in progress
Stock and work in progress are valued at the lower of cost and net realisable value.
1.7
Deferred taxation
Deferred tax 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.
WILSON WINDOWS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 April 2015
50,939
40,483
91,422
Additions
-
16,898
16,898
Disposals
-
(2,000)
(2,000)
At 31 March 2016
50,939
55,381
106,320
Depreciation
At 1 April 2015
30,564
31,917
62,481
On disposals
-
(1,644)
(1,644)
Charge for the year
2,547
5,380
7,927
At 31 March 2016
33,111
35,653
68,764
Net book value
At 31 March 2016
17,828
19,728
37,556
At 31 March 2015
20,375
8,566
28,941
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
2 Ordinary Shares of £1 each
2
2