Wilding and Kent Limited - Period Ending 2016-03-31

Wilding and Kent Limited - Period Ending 2016-03-31


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Registration number: 01050057

Wilding and Kent Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

 

Wilding and Kent Limited
Contents

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

2 to 4

 

Wilding and Kent Limited
(Registration number: 01050057)
Abbreviated Balance Sheet at 31 March 2016

 

Note

   

2016
£

   

2015
£

 

Fixed assets

 

   

   

 

Tangible fixed assets

 

2

   

18,801

   

16,741

 

Current assets

 

   

   

 

Stocks

 

   

19,000

   

19,572

 

Debtors

 

   

27,035

   

9,053

 

Cash at bank and in hand

 

   

2,905

   

7,804

 

 

   

48,940

   

36,429

 

Creditors: Amounts falling due within one year

 

   

(56,032)

   

(44,568)

 

Net current liabilities

 

   

(7,092)

   

(8,139)

 

Total assets less current liabilities

 

   

11,709

   

8,602

 

Creditors: Amounts falling due after more than one year

 

   

(10,427)

   

(7,436)

 

Net assets

 

   

1,282

   

1,166

 

Capital and reserves

 

   

   

 

Called up share capital

 

4

   

1,000

   

1,000

 

Profit and loss account

 

   

282

   

166

 

Shareholders' funds

 

   

1,282

   

1,166

 

For the year ending 31 March 2016 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 28 September 2016 and signed on its behalf by:

.........................................
Mrs C Haggerty
Director

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

Page 1

 

Wilding and Kent Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

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 January 2015).

Turnover

Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically delivered to the customer.

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

Land and buildings

10% straight line

Plant and machinery

15% straight line

Motor vehicles

25% straight line

Stock

Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.

Hire purchase and leasing

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

 

Wilding and Kent Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

2

Fixed assets

   

Tangible assets
£

   

Total
£

 

Cost

           

At 1 April 2015

 

151,846

   

151,846

 

Additions

 

9,834

   

9,834

 

At 31 March 2016

 

161,680

   

161,680

 

Depreciation

           

At 1 April 2015

 

135,105

   

135,105

 

Charge for the year

 

7,774

   

7,774

 

At 31 March 2016

 

142,879

   

142,879

 

Net book value

           

At 31 March 2016

 

18,801

   

18,801

 

At 31 March 2015

 

16,741

   

16,741

 

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

 

2016
£

   

2015
£

 

 

   

 

Amounts falling due within one year

 

9,005

   

2,982

 

Amounts falling due after more than one year

 

10,427

   

7,436

 

Total secured creditors

 

19,432

   

10,418

 

4

Share capital

Allotted, called up and fully paid shares

 

2016

2015

   

No.

   

£

   

No.

   

£

 

Ordinary shares of £1 each

 

1,000

   

1,000

   

1,000

   

1,000

 
                         
 

Wilding and Kent Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

5

Related party transactions

Directors' advances and credits

 

2016
Advance/ Credit
£

2016
Repaid
£

2015
Advance/ Credit
£

2015
Repaid
£

Mr S Haggerty

Amounts advanced and repaid

28,356

23,948

2,719

-

         
         

These transactions have been aggregated by kind. The director considers that this treatment does not impair a true and fair view of the financial statements.