WHEELMASTER INC LTD | ||||
ABBREVIATED UNAUDITED ACCOUNTS | ||||
FOR THE YEAR ENDED 31 MAY 2016 | ||||
INDEX TO THE ACCOUNTS | ||||
Pages | ||||
1 | Abbreviated Balance Sheet | |||
2-4 | Notes to the Abbreviated Accounts | |||
|
|||||
Company registered number: |
|||||
ABBREVIATED BALANCE SHEET | |||||
AT |
|||||
Note | 2016 | 2015 | |||
£ | £ | £ | |||
FIXED ASSETS | |||||
Intangible assets | 2 |
|
|
||
Tangible Assets | 3 |
|
|
||
|
|
||||
CURRENT ASSETS | |||||
Stock |
|
|
|||
Debtors falling due within one year |
|
|
|||
Cash at bank and in hand |
|
|
|||
|
|
||||
CREDITORS: Amounts falling due within one year | 4 |
|
|
||
NET CURRENT LIABILITIES | ( |
( |
|||
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|||
CREDITORS: Amounts falling due after more than one year | 4 | ( |
( |
||
NET ASSETS |
|
|
|||
CAPITAL AND RESERVES | |||||
Called up share capital | 5 |
|
|
||
Profit and loss account |
|
|
|||
SHAREHOLDERS' FUNDS |
|
|
|||
In approving these financial statements as director of the company I hereby confirm the following: | ||||
|
||||
Directors' responsibilities: | ||||
|
||||
|
||||
|
||||
These abbreviated accounts were approved by the board of directors on |
||||
|
The notes on pages 2 to 4 form part of these accounts | |
page 1 | |
NOTES TO THE ABBREVIATED ACCOUNTS | |||
FOR THE YEAR ENDED 31 MAY 2016 |
1. | ACCOUNTING POLICIES |
1a. | Basis of accounting | |
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). |
1b. | Intangible fixed assets: Goodwill | ||
|
1c. | Tangible fixed assets | ||
Fixed assets are shown at historical cost. | |||
Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life by the reducing balance method. | |||
2016 | 2015 | ||
% | % | ||
Plant and equipment | 25 | 25 | |
Motor vehicles | 15 | 15 | |
Fixtures and fittings | 15 | 15 | |
Equipment | 15 | 15 |
1d. | Stocks | ||
|
1e. | Taxation | ||
Corporation tax payable is provided on taxable profits at the current rate. | |||
1f. | Turnover | ||
Turnover comprises the value of sales (excluding VAT and similar taxes and trade discounts) of goods and services in the normal course of business. |
1g. | Leasing and hire purchase contracts | |
|
||
|
page 2 | |
WHEELMASTER INC LTD | |||
NOTES TO THE ABBREVIATED ACCOUNTS (CONT.) | |||
FOR THE YEAR ENDED 31 MAY 2016 |
2. | INTANGIBLE FIXED ASSETS | 2016 | 2015 |
£ | £ | ||
Cost | |||
At 1 June 2015 |
|
10,900 | |
At 31 May 2016 |
|
|
|
Depreciation | |||
At 1 June 2015 |
|
545 | |
For the year |
|
|
|
At 31 May 2016 |
|
|
|
Net Book Amounts | |||
At 31 May 2016 |
|
|
|
3. | TANGIBLE FIXED ASSETS | 2016 | 2015 |
£ | £ | ||
Cost | |||
At 1 June 2015 |
|
32,277 | |
Additions |
|
|
|
At 31 May 2016 |
|
|
|
Depreciation | |||
At 1 June 2015 |
|
4,842 | |
For the year |
|
|
|
At 31 May 2016 |
|
|
|
Net Book Amounts | |||
At 31 May 2016 |
|
|
|
4. | CREDITORS | ||
2016 | 2015 | ||
£ | £ | ||
Creditors include the following amounts of secured liabilities: | |||
Due within one year | 13,627 | 7,234 | |
Due after more than one year | 11,495 | 10,508 | |
page 3 | |
WHEELMASTER INC LTD | |||
NOTES TO THE ABBREVIATED ACCOUNTS (CONT.) | |||
FOR THE YEAR ENDED 31 MAY 2016 |
5. | SHARE CAPITAL | 2016 | 2015 |
£ | £ | ||
Allotted, issued and fully paid: | |||
|
|
|
|
page 4 |