WENN_Limited - Accounts

LJ WHEN WON LIMITED - Company Information

Print Friendly Version

Company Registration No. 04375163 (England and Wales)

WENN Limited

Unaudited abbreviated financial statements

For the year ended 31 March 2015

WENN LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

WENN LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2015

- 1 -

2015

2014

Notes

Fixed assets

Intangible assets

31,580

37,075

Tangible assets

53,122

76,175

84,702

113,250

Current assets

Debtors

528,908

584,140

Cash at bank and in hand

14,126

23,229

543,034

607,369

Creditors: amounts falling due within one year

(766,951)

(930,148)

Net current liabilities

(223,917)

(322,779)

Total assets less current liabilities

(139,215)

(209,529)

Capital and reserves

Called up share capital

100

Profit and loss account

(139,315)

(209,629)

Shareholders' funds

(139,215)

(209,529)

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.

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 18 December 2015

L R Beiny

Director

Company Registration No. 04375163

WENN LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

- 2 -

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).

The company recorded a profit of £70,314 (2014: Made a loss of £176,248) for the year and had net liabilities of £139,215 (2014: £209,529) at the year end.

The company continues to meet its day-to-day working capital requirements from the continued support of WENN Rights Limited and WENN GmbH. The directors are satisfied that they can continue to finance the business in this manner. Accordingly, the directors consider it appropriate to prepare these financial statements on a going concern basis.

The financial statements do not include any adjustments that would result from a withdrawal of the support of the related undertakings.

1.2

Turnover

Turnover represents amounts receivable for services net of VAT.

1.3

Goodwill

Acquired goodwill is written off in equal annual installments over its estimated useful economic life of 10 years . of 10 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:

Land and buildings Leasehold

20% straight line over the period of the lease

Fixtures, fittings & equipment

20% and 16.7% straight line method

1.5

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

WENN LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2015

- 3 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 April 2014

55,000

129,467

184,467

Additions

3,145

Disposals

(1,500)

At 31 March 2015

55,000

131,112

186,112

Depreciation

At 1 April 2014

17,925

53,292

71,217

On disposals

(1,500)

Charge for the year

5,495

26,198

31,693

At 31 March 2015

23,420

77,990

101,410

Net book value

At 31 March 2015

31,580

53,122

84,702

At 31 March 2014

37,075

76,175

113,250

Share capital

2015

2014

Allotted, called up and fully paid

100 Ordinary of £1 each

100