Company Registration No. 08668452 (England and Wales)
W&P Electrical Ltd
Unaudited accounts
for the year ended 31 March 2017
W&P Electrical Ltd
Unaudited accounts
Contents
W&P Electrical Ltd
Company Information
for the year ended 31 March 2017
Directors
T B Parkes
J G Wright
Company Number
08668452 (England and Wales)
Registered Office
Hamblecombe Farm
Luton
Chudleigh
Newton Abbot
TQ13 0BN
Accountants
Yannons Chartered Accountants
The Gallery
New Quay Street
Teignmouth
Devon
TQ14 8DA
W&P Electrical Ltd
Statement of financial position
as at 31 March 2017
Tangible assets
23,389
28,841
Cash at bank and in hand
2,354
4,909
Creditors: amounts falling due within one year
(52,068)
(40,632)
Net current liabilities
(14,759)
(19,267)
Total assets less current liabilities
8,630
9,574
Creditors: amounts falling due after more than one year
(3,680)
(6,543)
Provisions for liabilities
Deferred tax
(1,900)
(2,502)
Called up share capital
1
1
Profit and loss account
3,049
528
Shareholders' funds
3,050
529
For the year ending 31 March 2017 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 13 December 2017.
T B Parkes
Director
Company Registration No. 08668452
W&P Electrical Ltd
Notes to the Accounts
for the year ended 31 March 2017
W&P Electrical Ltd is a private company, limited by shares, registered in England and Wales, registration number 08668452. The registered office is Hamblecombe Farm, Luton, Chudleigh, Newton Abbot, TQ13 0BN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 March 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 April 2015
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing balance
Motor vehicles
25% Reducing balance
Computer equipment
25% Straight Line
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.
The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.
W&P Electrical Ltd
Notes to the Accounts
for the year ended 31 March 2017
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2016
25,692
17,995
3,453
47,140
Disposals
-
-
(1,100)
(1,100)
At 31 March 2017
27,654
17,995
2,353
48,002
At 1 April 2016
8,924
7,873
1,502
18,299
Charge for the year
3,746
2,530
588
6,864
On disposals
-
-
(550)
(550)
At 31 March 2017
12,670
10,403
1,540
24,613
At 31 March 2017
14,984
7,592
813
23,389
At 31 March 2016
16,768
10,122
1,951
28,841
Trade debtors
31,980
9,445
Accrued income and prepayments
1,475
1,267
7
Creditors: amounts falling due within one year
2017
2016
Obligations under finance leases and hire purchase contracts
3,649
3,649
Trade creditors
11,212
2,084
Taxes and social security
15,680
10,727
Loans from directors
21,358
23,671
8
Creditors: amounts falling due after more than one year
2017
2016
Obligations under finance leases and hire purchase contracts
3,680
6,543
W&P Electrical Ltd
Notes to the Accounts
for the year ended 31 March 2017
Allotted, called up and fully paid:
50 Ordinary shares of £0.01 each
0.50
0.50
10
Transactions with related parties
At the year end the company owed J Wright £11,754 (2016: £11,879). This includes interest charged during the year of £1,000.
At the year end the company owed T Parkes £9,603 (2016: £11,792). This includes interest charged during the year of £1,000.
11
Average number of employees
During the year the average number of employees was 4 (2016: 4).
12
Reconciliations on adoption of FRS 102
No adjustments were needed as a result of the adoption of FRS 102.
