A & N Wardle Ltd Small abbreviated accounts

A & N Wardle Ltd Small abbreviated accounts


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COMPANY REGISTRATION NUMBER 05517628
A & N WARDLE LTD
UNAUDITED ABBREVIATED ACCOUNTS
31 August 2016
STEWART ASSOCIATES SHREWSBURY LTD
Chartered Accountants
Emstrey House (North)
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG
A & N WARDLE LTD
ABBREVIATED BALANCE SHEET
31 August 2016
2016
2015
Note
£
£
£
£
Fixed Assets
2
Intangible assets
1
1
Tangible assets
155,586
98,956
----------
---------
155,587
98,957
Current Assets
Debtors
31,774
36,120
Cash at bank and in hand
15,317
61,808
---------
---------
47,091
97,928
Creditors: Amounts Falling due Within One Year
3
106,674
109,626
----------
----------
Net Current Liabilities
( 59,583)
( 11,698)
----------
---------
Total Assets Less Current Liabilities
96,004
87,259
Creditors: Amounts Falling due after More than One Year
4
21,141
-
---------
---------
74,863
87,259
---------
---------
Capital and Reserves
Called up equity share capital
5
2
2
Profit and loss account
74,861
87,257
---------
---------
Shareholders' Funds
74,863
87,259
---------
---------
For the year ended 31st August 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.
These abbreviated accounts were approved by the directors and authorised for issue on 31 October 2016 , and are signed on their behalf by:
Mr A M Wardle
Company Registration Number: 05517628
A & N WARDLE LTD
NOTES TO THE ABBREVIATED ACCOUNTS
YEAR ENDED 31st AUGUST 2016
1. Accounting Policies
Basis of Accounting
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).
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Goodwill-10 years straight line
Fixed Assets
All fixed assets are initially recorded at cost.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant & Machinery-15% straight line
Motor Vehicles-15% straight line
Equipment-33.33% straight line
Hire Purchase Agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.
Operating Lease Agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
Financial Instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
2. Fixed Assets
Intangible Assets
Tangible Assets
Total
£
£
£
Cost
At 1st September 2015
55,200
300,075
355,275
Additions
89,049
89,049
Disposals
( 76,175)
(76,175)
---------
----------
----------
At 31st August 2016
55,200
312,949
368,149
---------
----------
----------
Depreciation
At 1st September 2015
55,199
201,119
256,318
Charge for year
24,824
24,824
On disposals
( 68,580)
(68,580)
---------
----------
----------
At 31st August 2016
55,199
157,363
212,562
---------
----------
----------
Net Book Value
At 31st August 2016
1
155,586
155,587
----
----------
----------
At 31st August 2015
1
98,956
98,957
----
----------
----------
3. Creditors: Amounts Falling due Within One Year
The following liabilities disclosed under creditors falling due within one year are secured by the company:
2016
2015
£
£
Hire Purchase
25,429
24,850
---------
---------
4. Creditors: Amounts Falling due after More than One Year
The following liabilities disclosed under creditors falling due after more than one year are secured by the company:
2016
2015
£
£
Hire Purchase
21,141
-
---------
----
5. Share Capital
Allotted, called up and fully paid:
2016
2015
No.
£
No.
£
Ordinary shares of £ 1 each
2
2
2
2
----
----
----
----