Abbreviated Company Accounts - THE WAPPING PROJECT - BANKSIDE LIMITED

Abbreviated Company Accounts - THE WAPPING PROJECT - BANKSIDE LIMITED

THE WAPPING PROJECT - BANKSIDE LIMITED - Company Information

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Registered Number 06844537

THE WAPPING PROJECT - BANKSIDE LIMITED

Abbreviated Accounts

31 March 2014

THE WAPPING PROJECT - BANKSIDE LIMITED Registered Number 06844537

Abbreviated Balance Sheet as at 31 March 2014

Notes 2014 2013
£ £
Fixed assets
Intangible assets 2 869 1,042
Tangible assets 3 9,064 11,210
9,933 12,252
Current assets
Stocks - 9,350
Debtors 4,581 12,125
Cash at bank and in hand 11,435 70
16,016 21,545
Prepayments and accrued income 10,835 12,329
Creditors: amounts falling due within one year (25,422) (19,444)
Net current assets (liabilities) 1,429 14,430
Total assets less current liabilities 11,362 26,682
Creditors: amounts falling due after more than one year (203,188) (83,897)
Accruals and deferred income (4,500) (4,500)
Total net assets (liabilities) (196,326) (61,715)
Capital and reserves
Called up share capital 1 1
Profit and loss account (196,327) (61,716)
Shareholders' funds (196,326) (61,715)
  • For the year ending 31 March 2014 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 17 December 2014

And signed on their behalf by:
Dr. Jules Wrright, Director

THE WAPPING PROJECT - BANKSIDE LIMITED Registered Number 06844537

Notes to the Abbreviated Accounts for the period ended 31 March 2014

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 represents the total invoice value, excluding value added tax, of sales made during the year an derives from the provision of goods falling within the company's ordinary activities.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:

Leasehold properties - Straight line over the life of the lease
Fixtures, fittings and equipment - 20% reducing balance

Intangible assets amortisation policy
Patents are valued at cost less accumulated amortisation.
Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful life of 10 years.

Valuation information and policy
Stock is valued at the lower of cost and net realisable value.

Other accounting policies
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

2Intangible fixed assets
£
Cost
At 1 April 2013 1,734
Additions -
Disposals -
Revaluations -
Transfers -
At 31 March 2014 1,734
Amortisation
At 1 April 2013 692
Charge for the year 173
On disposals -
At 31 March 2014 865
Net book values
At 31 March 2014 869
At 31 March 2013 1,042
3Tangible fixed assets
£
Cost
At 1 April 2013 23,109
Additions -
Disposals -
Revaluations -
Transfers -
At 31 March 2014 23,109
Depreciation
At 1 April 2013 11,899
Charge for the year 2,146
On disposals -
At 31 March 2014 14,045
Net book values
At 31 March 2014 9,064
At 31 March 2013 11,210