Welshpool Holdings Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 07059524 (England and Wales)

WELSHPOOL HOLDINGS LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Tangible assets

2

1,114,384

1,093,430

Investments

3

1

1,114,385

1,093,431

CURRENT ASSETS

Debtors

1,369,245

921,408

Cash at bank

60,241

1,429,486

981,649

CREDITORS

Amounts falling due within one year

4

2,412,468

1,972,735

NET CURRENT LIABILITIES

(982,982

)

(991,086

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

131,403

102,345

PROVISIONS FOR LIABILITIES

24,348

22,722

NET ASSETS

107,055

79,623

CAPITAL AND RESERVES

Called up share capital

5

2

Profit and loss account

107,053

79,621

SHAREHOLDERS' FUNDS

107,055

79,623

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 8 September 2016 and were signed on its behalf
by:

R W Hudson - Director

C J Sheppard - 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 January 2015).

Preparation of consolidated financial statements

The financial statements contain information about Welshpool Holdings Limited as an individual company and

do not contain consolidated financial information as the parent of a group. The company has taken the option

under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Turnover

Turnover represents net invoiced sales, excluding vale 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.

Fixtures and fittings

-

4% Straight Line

Freehold Property has not been depreciated as in the opinion of the directors, the depreciation charge and

accumulated depreciation would be immaterial due to the long economic life and high residual value of the

freehold property.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

1,212,230

Additions

44,897

At 31 December 2015

1,257,127

DEPRECIATION

At 1 January 2015

118,800

Charge for year

23,943

At 31 December 2015

142,743

NET BOOK VALUE

At 31 December 2015

1,114,384

At 31 December 2014

1,093,430

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 January 2015

and 31 December 2015

1

NET BOOK VALUE

At 31 December 2015

1

At 31 December 2014

1

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Welshpool Livestock Sales Limited

Country of incorporation: England and Wales

Nature of business: Livestock Auctions

%

Class of shares:

holding

Ordinary

100.00

2015

2014

£

Aggregate capital and reserves

3,014

29,462

Profit for the year

513,552

554,998

4.

CREDITORS

Creditors include an amount of £ 500,000 for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

2

Ordinary

£1

2