Adrian Wilkes Limited - Period Ending 2015-07-31

Registration number: 01063817

Adrian Wilkes Limited

Abbreviated Accounts

for the Year Ended 31 July 2015
 

Adrian Wilkes Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Adrian Wilkes Limited
for the Year Ended 31 July 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Adrian Wilkes Limited for the year ended 31 July 2015 set out on pages 2 to 5 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Adrian Wilkes Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Adrian Wilkes Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Adrian Wilkes Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Adrian Wilkes Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Adrian Wilkes Limited. You consider that Adrian Wilkes Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Adrian Wilkes Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

Rowlands Webster Limited
Tax Advisers & Accountants
Austin House
43 Poole Road
Westbourne
Bournemouth
Dorset
BH4 9DN

21 December 2015

Adrian Wilkes Limited (Registration number: 01063817)

Abbreviated Balance Sheet
  at 31 July 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					1,459,642			1,422,957
Current assets
Stocks					13,262			13,262
Debtors					399,901			297,733
Cash at bank and in hand					19,019			280,259
					432,182			591,254
Creditors: Amounts falling due within one year					(307,938)			(543,896)
Net current assets					124,244			47,358
Net assets					1,583,886			1,470,315
Capital and reserves
Called up share capital		3			100			100
Revaluation reserve					573,750			536,500
Profit and loss account					1,010,036			933,715
Shareholders' funds					1,583,886			1,470,315

For the year ending 31 July 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their 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 .

Approved by the Board on 21 December 2015 and signed on its behalf by:

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 2

Adrian Wilkes Limited (Registration number: 01063817)

Abbreviated Balance Sheet
  at 31 July 2015

.........................................
Mr AN Wilkes
Director

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 3

Adrian Wilkes Limited

Notes to the Abbreviated Accounts
  for the Year Ended 31 July 2015

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant & machinery	15% on cost
Computer equipment	25% on cost

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows: No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Work in progress

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Page 4

Adrian Wilkes Limited

Notes to the Abbreviated Accounts
  for the Year Ended 31 July 2015

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 August 2014		1,430,911			1,430,911
Revaluations		37,250			37,250
At 31 July 2015		1,468,161			1,468,161
Depreciation
At 1 August 2014		7,954			7,954
Charge for the year		565			565
At 31 July 2015		8,519			8,519
Net book value
At 31 July 2015		1,459,642			1,459,642
At 31 July 2014		1,422,957			1,422,957

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary share of £1 each		100			100			100			100

Page 5