WMA Limited - Accounts to registrar - small 17.2

WMA Limited - Accounts to registrar - small 17.2


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REGISTERED NUMBER: SC241843(Scotland)









Unaudited Financial Statements

for the Year Ended 31 January 2017

for

WMA Limited

WMA Limited (Registered number: SC241843)






Contents of the Financial Statements
for the Year Ended 31 January 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

WMA Limited

Company Information
for the Year Ended 31 January 2017







DIRECTORS: Mr R J Weir
Mr D A Matthews





SECRETARY: Mrs L Weir





REGISTERED OFFICE: Hill Farm
Slamannan
Falkirk
Central
FK1 3DJ





REGISTERED NUMBER: SC241843(Scotland)





ACCOUNTANTS: Yates & Co
Chartered Accountants
Statutory Auditor
Unit 4B Gateway Bus Park
Grangemouth
Central
FK3 8WX

WMA Limited (Registered number: SC241843)

Balance Sheet
31 January 2017

31.1.17 31.1.16
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,193 4,284

CURRENT ASSETS
Stocks 19,979 60,480
Debtors 5 157,335 136,408
Cash at bank 194,188 202,021
371,502 398,909
CREDITORS
Amounts falling due within one year 6 118,309 125,249
NET CURRENT ASSETS 253,193 273,660
TOTAL ASSETS LESS CURRENT
LIABILITIES

255,386

277,944

PROVISIONS FOR LIABILITIES 194 559
NET ASSETS 255,192 277,385

CAPITAL AND RESERVES
Called up share capital 7 7
Capital redemption reserve 8 3 3
Retained earnings 8 255,182 277,375
SHAREHOLDERS' FUNDS 255,192 277,385

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end
of each financial year and of its profit or loss for each financial year in accordance with the requirements of
Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to
financial statements, so far as applicable to the company.

WMA Limited (Registered number: SC241843)

Balance Sheet - continued
31 January 2017


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 15 June 2017and were signed on its behalf by:




Mr R J Weir- Director



Mr D A Matthews- Director


WMA Limited (Registered number: SC241843)

Notes to the Financial Statements
for the Year Ended 31 January 2017

1. STATUTORY INFORMATION

WMA Limited is a private company, limited by shares, registered in Scotland. The company's registered
number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
Transition to FRS 102
The entity has transitioned from previous UK GAAP to FRS 102 as at 1 February 2016. Details of how FRS
102 has affected the reported financial position and financial performance is given in note 14.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in
bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to
the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or
substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the
timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they
will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension
scheme are charged to profit or loss in the period to which they relate.

WMA Limited (Registered number: SC241843)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2017

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17.

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 February 2016 804 50,454 51,258
Additions - 984 984
At 31 January 2017 804 51,438 52,242
DEPRECIATION
At 1 February 2016 444 46,530 46,974
Charge for year 90 2,985 3,075
At 31 January 2017 534 49,515 50,049
NET BOOK VALUE
At 31 January 2017 270 1,923 2,193
At 31 January 2016 360 3,924 4,284

5. DEBTORS
31.1.17 31.1.16
£    £   
Amounts falling due within one year:
Trade debtors 147,826 114,415
Other debtors 9,022 21,281
156,848 135,696

Amounts falling due after more than one year:
Other debtors 487 712

Aggregate amounts 157,335 136,408

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.17 31.1.16
£    £   
Trade creditors 620 1,637
Taxation and social security 110,934 104,388
Other creditors 6,755 19,224
118,309 125,249

WMA Limited (Registered number: SC241843)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2017

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.1.17 31.1.16
£    £   
Within one year 2,474 2,449
Between one and five years 8,624 2,915
11,098 5,364

8. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 February 2016 277,375 3 277,378
Profit for the year 174,098 174,098
Dividends (196,291 ) (196,291 )
At 31 January 2017 255,182 3 255,185

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2017 and
31 January 2016:

31.1.17 31.1.16
£    £   
Mr D A Matthews
Balance outstanding at start of year 2,848 14,917
Amounts repaid (900 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,948 2,848

Creditors include the following amounts which are owed to individuals who were directors of the company
during the year:

31.1.1731.1.16
££
Mr R J Weir8998,205
Mr D A Matthews--
8998,205

The maximum balance outstanding during the year amounted to £8,205.

The directors loans are repayable on demand.

10. ULTIMATE CONTROLLING PARTY

Mr R J Weir, a director, controls the company by virtue of a controlling interest of 57% of the issued ordinary
share capital.

WMA Limited (Registered number: SC241843)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2017

11. TRANSITION TO FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1
February 2016.

Reconciliation of Equity
No transitional adjustments were required.

Reconciliation of Profit and Loss for the year
No transitional adjustments were required.


Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
WMA Limited

The following reproduces the text of the report prepared for the directors and members in respect of the
company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is
only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other
primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
financial statements of WMA Limited for the year ended 31 January 2017 which comprise the Income Statement,
Balance Sheet and the related notes from the company's accounting records and from information and explanations you
have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of WMA Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of WMA Limited and state those matters that we have agreed to state to the Board of Directors of WMA Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that WMA Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of WMA Limited. You consider that WMA Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of WMA Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Yates & Co
Chartered Accountants
Statutory Auditor
Unit 4B Gateway Bus Park
Grangemouth
Central
FK3 8WX


15 June 2017