North Wales Training Limited - Period Ending 2016-07-31

Registration number: 02065604

North Wales Training Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 July 2016
 

North Wales Training Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

North Wales Training Limited
(Registration number: 02065604)
Abbreviated Balance Sheet at 31 July 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					532,057			610,033
Current assets
Debtors					339,858			339,988
Cash at bank and in hand					364,303			250,456
					704,161			590,444
Creditors: Amounts falling due within one year					(209,550)			(199,697)
Net current assets					494,611			390,747
Net assets					1,026,668			1,000,780
Capital and reserves
Called up share capital		3			16,700			16,700
Capital redemption reserve					8,300			8,300
Profit and loss account					1,001,668			975,780
Shareholders' funds					1,026,668			1,000,780

For the year ending 31 July 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 29 March 2017 and signed on its behalf by:

.........................................
Mr M W Roberts
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

North Wales Training Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 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 the amount receivable from the provision of services, excluding value added tax.

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
Plant and machinery etc	25% on reducing balance and varying rates on cost
Land and buildings	2% on cost

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

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North Wales Training Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 August 2015		944,447			944,447
Disposals		(25,982)			(25,982)
At 31 July 2016		918,465			918,465
Depreciation
At 1 August 2015		334,414			334,414
Charge for the year		58,476			58,476
Eliminated on disposals		(6,482)			(6,482)
At 31 July 2016		386,408			386,408
Net book value
At 31 July 2016		532,057			532,057
At 31 July 2015		610,033			610,033

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		16,700			16,700			16,700			16,700

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