Abbreviated Company Accounts - WATAN FOODS LIMITED

WATAN FOODS LIMITED - Company Information

SC429405 WATAN FOODS LIMITED 2016-08-31 false 2015-09-01 2016-08-31 true SC429405 2015-09-01 2016-08-31 SC429405 2016-08-31 SC429405 2015-08-31 SC429405 uk-gaap-cd-bus:Director1 2015-09-01 2016-08-31 SC429405 uk-gaap-cd-bus:Director2 2015-09-01 2016-08-31 uk-gaap-cd-bus:Director3 2015-09-01 2016-08-31 uk-gaap-cd-bus:Director3 2016-08-31 uk-gaap-cd-bus:Director3 2015-08-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-09-01 2016-08-31 uk-gaap-cd-bus:OrdinaryShareClass1 2016-08-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-08-31 iso4217:GBP shares

Registered Number SC429405

WATAN FOODS LIMITED

Abbreviated Accounts

31 August 2016

WATAN FOODS LIMITED Registered Number SC429405

Abbreviated Balance Sheet as at 31 August 2016

	Notes	2016	2015
		£	£
Fixed assets
Intangible assets	2	31,000	31,000
Tangible assets	3	72,545	172,990
		103,545	203,990
Current assets
Stocks		52,620	54,550
Debtors		840	3,216
Cash at bank and in hand		17,357	16,223
		70,817	73,989
Creditors: amounts falling due within one year		(47,877)	(44,159)
Net current assets (liabilities)		22,940	29,830
Total assets less current liabilities		126,485	233,820
Creditors: amounts falling due after more than one year		(116,674)	(226,532)
Total net assets (liabilities)		9,811	7,288
Capital and reserves
Called up share capital	4	2	2
Profit and loss account		9,809	7,286
Shareholders' funds		9,811	7,288

For the year ending 31 August 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 24 May 2017

And signed on their behalf by:
MR MAJEED ABDUL, Director

WATAN FOODS LIMITED Registered Number SC429405

Notes to the Abbreviated Accounts for the period ended 31 August 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover comprises invoiced sales net of returns, trade discounts and VAT.

Tangible assets depreciation policy
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 on a reducing balance method as follows:
Fixture and fittings 20%
Motor vehicles 20%

Intangible assets amortisation policy
NONE

Valuation information and policy
Stocks are valued at the lower of cost and net realisable value, after allowing for slow-moving and obsolete items.

Other accounting policies
Corporation tax payable is provided for on taxable profits at the current rate.

2Intangible fixed assets

	£
Cost
At 1 September 2015	31,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 August 2016	31,000
Amortisation
At 1 September 2015	-
Charge for the year	-
On disposals	-
At 31 August 2016	-
Net book values
At 31 August 2016	31,000
At 31 August 2015	31,000

3Tangible fixed assets

	£
Cost
At 1 September 2015	174,863
Additions	-
Disposals	(100,000)
Revaluations	-
Transfers	-
At 31 August 2016	74,863
Depreciation
At 1 September 2015	1,873
Charge for the year	445
On disposals	-
At 31 August 2016	2,318
Net book values
At 31 August 2016	72,545
At 31 August 2015	172,990

4Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
2 Ordinary shares of £1 each	2	2

5Transactions with directors

Name of director receiving advance or credit:	MR MAJEED ABDUL
Description of the transaction:	DIRECTOR
Balance at 1 September 2015:	£ 111,674
Advances or credits made:	£ 15,000
Advances or credits repaid:	£ 10,000
Balance at 31 August 2016:	£ 116,674

The ultimate controlling parties are MR MAJEED ABDUL and MRS ALLAH RAKHI NAJIB by virtue of their ownership of 50% each in the ordinary share capital of the company.