Wealden Utilities Limited
|
For the year ended 31 January 2016
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 07194639
Wealden Utilities Limited
For the year ended 31 January 2016
1
Balance Sheet
2 to 4
Notes to the Abbreviated Financial Statements
Abbreviated Balance Sheet
|
Wealden Utilities Limited
2016
2015
2
14,122
18,829
14,122
18,829
17,350
16,750
53,285
21,429
-
3,194
38,179
73,829
Creditors
:
amounts falling due within one year
|
(85,122)
(62,691)
(11,293)
(24,512)
Net current liabilities
Total assets less current liabilities
|
(10,390)
7,536
Creditors
:
amounts falling due after more than one y
|
ear
|
(598)
(10,000)
4,752
(562)
Provisions for liabilities
|
(15,638)
Net assets/liabilities
6,376
100
3
100
(15,738)
6,276
(15,638)
6,376
Shareholders funds
For the year ended 31 January 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
|
Director responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
|
2) The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts
|
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
|
Date approved by the board: 21 October 2016
|
Signed on behalf of the board of directors
|
1 of 4
Notes to the Abbreviated Financial Statements
|
Wealden Utilities Limited
For the year ended 31 January 2016
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
|
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the director who has undertaken to provide such support for the foreseeable future. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
|
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
|
Rentals payable under operating leases are charged against income on a straight line basis over the lease
|
term
.
|
Finance lease and hire purchase charges
|
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted.
|
Proposed dividends are only included as liabilities in the financial statements when their payment has
|
been approved by the shareholders prior to the balance sheet date
.
|
2 of 4
Notes to the Abbreviated Financial Statements
|
Wealden Utilities Limited
For the year ended 31 January 2016
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
|
Plant and Machinery
Motor Vehicles
Assets on finance lease and hire purchase
|
Assets held under finance lease or hire purchase contracts i
.
e
.
those contracts where substantially all the
|
risks and rewards of ownership have passed to the company
,
are included in the appropriate category of
|
tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful
|
lives
.
|
Future obligations under such contracts are included in creditors net of the finance charge allocated to
|
future periods
.
|
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
|
45,353
45,353
26,524
4,707
Charge for year
31,231
14,122
18,829
3 of 4
Notes to the Abbreviated Financial Statements
|
Wealden Utilities Limited
For the year ended 31 January 2016
Allotted called up and fully paid
|
2016
2015
100
Ordinary shares of £
1
.
00
each
|
100
100
100
100
4 of 4