World Machinery (Shropshire) Limited - Limited company - abbreviated - 11.9
World Machinery (Shropshire) Limited - Limited company - abbreviated - 11.9
| REGISTERED NUMBER: |
| WORLD MACHINERY (SHROPSHIRE) LIMITED |
| ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31ST OCTOBER 2015 |
| WORLD MACHINERY (SHROPSHIRE) LIMITED (REGISTERED NUMBER: 03659629) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31ST OCTOBER 2015 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 | to | 3 |
| Notes to the Abbreviated Accounts | 4 | to | 5 |
| Chartered Accountants' Report | 6 |
| WORLD MACHINERY (SHROPSHIRE) LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31ST OCTOBER 2015 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| BANKERS: |
| WORLD MACHINERY (SHROPSHIRE) LIMITED (REGISTERED NUMBER: 03659629) |
| ABBREVIATED BALANCE SHEET |
| 31ST OCTOBER 2015 |
| 2015 | 2014 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 3 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
3 |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 4 |
| Revaluation reserve |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| WORLD MACHINERY (SHROPSHIRE) LIMITED (REGISTERED NUMBER: 03659629) |
| ABBREVIATED BALANCE SHEET - continued |
| 31ST OCTOBER 2015 |
| The financial statements were approved by the director on |
| WORLD MACHINERY (SHROPSHIRE) LIMITED (REGISTERED NUMBER: 03659629) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31ST OCTOBER 2015 |
| 1. | ACCOUNTING POLICIES |
| Accounting convention |
| 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). |
| Turnover |
| Turnover represents net invoiced sales of goods, excluding value added tax. |
| Tangible fixed assets |
| Long leasehold | - |
| Improvements to property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| No depreciation is provided on leasehold properties and improvements thereon. This treatment may be a |
| departure from the requirements of the Companies Act 2006 concerning depreciation of fixed assets, however, |
| the company follows a program of regular refurbishment and maintenance of its properties which includes the |
| reinstatement of the fabric of the buildings where necessary in order to maintain them to a high standard. |
| Accordingly in the opinion of the director any element of depreciation would be immaterial and no provision has |
| been made, as the residual value would be in excess of cost. |
| Long leasehold properties are revalued every three to five years, with the surplus or deficit on book values being |
| transferred to the revaluation reserve. A deficit in excess of any previously recognised surplus over cost relating |
| to the properties, or the reversal of such deficit, is charged or credited to the profit and loss account. A deficit |
| that represents a clear consumption of economic benefit is charged to the profit and loss account regardless of |
| any such previous surplus. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
| moving items. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet date. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
| balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
| the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
| under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
| are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to the profit and loss account over the relevant period. The |
| capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
| period of the lease. |
| WORLD MACHINERY (SHROPSHIRE) LIMITED (REGISTERED NUMBER: 03659629) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31ST OCTOBER 2015 |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1st November 2014 |
| Additions |
| Disposals | ( |
) |
| At 31st October 2015 |
| DEPRECIATION |
| At 1st November 2014 |
| Charge for year |
| At 31st October 2015 |
| NET BOOK VALUE |
| At 31st October 2015 |
| At 31st October 2014 |
| 3. | CREDITORS |
| Creditors include an amount of £ |
| They also include the following debts falling due in more than five years: |
| 2015 | 2014 |
| £ | £ |
| Repayable by instalments | - | 20,816 |
| 4. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2015 | 2014 |
| value: | £ | £ |
| Ordinary A | £1 |
| Ordinary B | £1 |
| 401 | 401 |
| 5. | ULTIMATE PARENT COMPANY |
| parent company. |
| CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| WORLD MACHINERY (SHROPSHIRE) LIMITED |
| The following reproduces the text of the report prepared for the director in respect of the company's annual |
| unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five) |
| have been prepared. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
| financial statements of World Machinery (Shropshire) Limited for the year ended 31st October 2015 which comprise the |
| Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from |
| information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook. |
| This report is made solely to the director of World Machinery (Shropshire) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of World Machinery (Shropshire) Limited and state those matters that we have agreed to state to the director of World Machinery (Shropshire) Limited in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report. |
| It is your duty to ensure that World Machinery (Shropshire) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of World Machinery (Shropshire) Limited. You consider that World Machinery (Shropshire) 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 financial statements of World Machinery |
| (Shropshire) 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 |
| financial statements. |
| Chartered Accountants |
| 11th February 2016 |