WILKIE_DEVELOPMENTS_LIMIT - Accounts

WILKIE DEVELOPMENTS LIMITED - Company Information

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Company Registration No. SC509969 (Scotland)

WILKIE DEVELOPMENTS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 APRIL 2016

WILKIE DEVELOPMENTS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

WILKIE DEVELOPMENTS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 APRIL 2016

- 1 -

2016

Notes

Fixed assets

Tangible assets

19,590

Current assets

Stocks

19,166

Debtors

6,377

Cash at bank and in hand

6,801

32,344

Creditors: amounts falling due within one year

(32,618)

Net current liabilities

(274)

Total assets less current liabilities

19,316

Creditors: amounts falling due after more than one year

(6,100)

13,216

Capital and reserves

Called up share capital

Profit and loss account

13,214

Shareholders' funds

13,216

For the financial period ended 30 April 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 financial statements for the period in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 27 February 2017

I Wilkie

Director

Company Registration No. SC509969

WILKIE DEVELOPMENTS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE PERIOD ENDED 30 APRIL 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

At the balance sheet date the company had a negative balance sheet. The company has the support of its directors to finance operations. The directors consider that the accounts should be prepared on a going concern basis.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

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 less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

20% straight line

Fixtures, fittings & equipment

20% straight line

Motor vehicles

25% straight line

1.5

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

1.6

Stock and work in progress

Stock and work in progress are valued at the lower of cost and net realisable value.

1.7

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

WILKIE DEVELOPMENTS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE PERIOD ENDED 30 APRIL 2016

- 3 -

Fixed assets

Tangible assets

Cost

At 1 September 2015

Additions

23,127

At 30 April 2016

23,127

Depreciation

At 1 September 2015

Charge for the period

3,537

At 30 April 2016

3,537

Net book value

At 30 April 2016

19,590

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £10,675.

Share capital

2016

Allotted, called up and fully paid

2 Ordinary of £1 each