Registered Number 05487060
WESTGATE PALLETS LIMITED
Abbreviated Accounts
30 June 2016
Notes | 2016 | 2015 | |
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£ | £ | ||
Called up share capital not paid |
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Fixed assets | |||
Intangible assets |
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Tangible assets | 2 |
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Investments |
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Current assets | |||
Stocks |
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Debtors |
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Investments |
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Cash at bank and in hand |
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Prepayments and accrued income |
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Creditors: amounts falling due within one year |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
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Provisions for liabilities |
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Accruals and deferred income |
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( |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital |
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Share premium account |
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Revaluation reserve |
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Other reserves |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Plant & Machinery 25% Straight Line
Motor Vehicles 25% Straight Line
Computers 25% Straight Line
Fixtures, fittings and office equipment 25 Straight Line
Other accounting policies
Stock 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 is determined on a first in first out basis. Cost consists of direct materials, labour and attributable overheads. Net realisable value is based on estimated selling price less any further costs of realisation.
Deferred Tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
£ | |
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Cost | |
At 1 July 2015 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 30 June 2016 |
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Depreciation | |
At 1 July 2015 |
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Charge for the year |
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On disposals |
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At 30 June 2016 |
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Net book values | |
At 30 June 2016 | 5,543 |
At 30 June 2015 | 10,686 |
3 Transactions with directors
Name of director receiving advance or credit: |
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Description of the transaction: |
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Balance at 1 July 2015: | £ |
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Advances or credits made: | £ |
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Advances or credits repaid: | £ |
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Balance at 30 June 2016: | £ |