ACCOUNTS - Final Accounts preparation


09786334APPLEGATES (WEST) LIMITED2015-10-012016-09-30falsetrue2016-09-30097863342015-10-012016-09-30097863342016-09-30097863342015-09-30097863342015-10-012015-10-31097863342015-10-3109786334 c:FixturesFittingsToolsEquipment 2015-10-012015-10-3109786334 d:OrdinaryShareClass1 2015-10-3109786334 d:OrdinaryShareClass1 2015-10-012015-10-3109786334 d:Director4 2015-10-012015-10-3109786334 c:PlantMachinery 2015-10-012015-10-3109786334 c:NetGoodwill 2015-10-012015-10-31iso4217:GBPxbrli:shares

Registered number: 09786334









APPLEGATES (WEST) LIMITED


UNAUDITED

ABBREVIATED ACCOUNTS

FOR THE PERIOD FROM 21 SEPTEMBER 2015 TO
 30 SEPTEMBER 2016

 
APPLEGATES (WEST) LIMITED
REGISTERED NUMBER: 09786334

ABBREVIATED BALANCE SHEET
AS AT 30 SEPTEMBER 2016

2016
Note
£
£
 
FIXED ASSETS



 
Intangible assets
 
2
50,220
 
Tangible assets
 
3
30,708





80,928
 
CURRENT ASSETS



 
Stocks
23,591
 
Debtors
7,988
 
Cash at bank and in hand
8,638




 
40,217
 
CREDITORS: amounts falling due within one year
(94,246)
 
NET CURRENT LIABILITIES

(54,029)
 
TOTAL ASSETS LESS CURRENT LIABILITIES
26,899
 
CREDITORS: amounts falling due after more than one year
(100,000)

NET LIABILITIES



 (73,101)
  
CAPITAL AND RESERVES

 
Called up share capital
4
100
 
Profit and loss account
(73,201)
 
SHAREHOLDERS' DEFICIT
 

 (73,101)


The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act. 

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 30 September 2016 and of its loss for the year in accordance with the requirements of sections 394 and 395 of the Act 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, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf on 11 January 2017.





Mrs J E Scott
Director

The notes on pages 2 to 3 form part of these financial statements.

Page 1

 
APPLEGATES (WEST) LIMITED
 

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016

1.ACCOUNTING POLICIES

1.1
Basis of preparation of financial statements

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).

1.2
Going concern

The company meets its day to day working capital requirements with support from an associated company. In the opinion of the directors, this support will continue to be available and adequate for the forseeable future. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the support of the associated company.

1.3
Turnover

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

1.4
Intangible fixed assets and amortisation

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the identifiable assets and liabilities. It is amortised to the Profit and Loss Account over its estimated economic life.

1.5
Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation.  Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant and machinery
-
20% per annum on the reducing balance basis
Fixtures and fittings
-
25% per annum on the reducing balance basis

1.6
Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. 

1.7
Deferred taxation

Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.

A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse.
Deferred tax assets and liabilities are not discounted.

Page 2

 
APPLEGATES (WEST) LIMITED
 

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016

2.INTANGIBLE FIXED ASSETS



£


Cost


At 1 October 2015
-

Additions
62,775


At 30 September 2016

62,775

Amortisation


At 1 October 2015
-

Charge for the year
12,555


At 30 September 2016

12,555




Net book value


At 30 September 2016
 50,220


3.TANGIBLE FIXED ASSETS



£


Cost 


At 1 October 2015
-

Additions
38,568


At 30 September 2016

38,568



Depreciation


At 1 October 2015
-

Charge for the year
7,860


At 30 September 2016

7,860




Net book value


At 30 September 2016
 30,708


4.SHARE CAPITAL
        2016
        £

Allotted, called up and fully paid


100 ordinary shares of £1 each
 100

On incorporation 100 ordinary shares of £1 each were issued at par.

Page 3