Whites of Lincoln Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 09295097 (England and Wales)

Abbreviated Accounts

for the Period

4 November 2014 to 30 November 2015

for

Whites of Lincoln Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Mr M Dunkin

REGISTERED OFFICE:

Newland House

The Point

Weaver Road

LINCOLN

Lincolnshire

LN6 3QN

REGISTERED NUMBER:

09295097 (England and Wales)

ACCOUNTANTS:

Nicholsons

Chartered Accountants

Newland House

The Point

Weaver Road

LINCOLN

Lincolnshire

LN6 3QN

BANKERS:

HSBC

Stonebow

221 High Street

LINCOLN

Lincolnshire

LN1 1TS

FIXED ASSETS

Tangible assets

2

13,763

CURRENT ASSETS

Stocks

1,000

Debtors

5,354

Cash at bank and in hand

27,456

33,810

CREDITORS

Amounts falling due within one year

36,385

NET CURRENT LIABILITIES

(2,575

)

TOTAL ASSETS LESS CURRENT LIABILITIES

11,188

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

11,088

SHAREHOLDERS' FUNDS

11,188

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 November 2015.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 November 2015 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 1 August 2016 and were signed by:

Mr M Dunkin - Director

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

15% on reducing balance

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. Deferred tax is not recognised when assets are revalued unless, by the

balance sheet date, the company has entered into a binding agreement to sell the assets and

recognised the gains and losses expected to arise on sale or where assets have been sold and it

is expected that the taxable gain will be rolled over into a replacement asset.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line

basis over the period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

26,166

Disposals

(9,616

)

At 30 November 2015

16,550

DEPRECIATION

Charge for period

2,794

Eliminated on disposal

(7

)

At 30 November 2015

2,787

NET BOOK VALUE

At 30 November 2015

13,763

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

Ordinary

£1

100

100 Ordinary shares of £1 each were allotted and fully paid for cash at par during the period.