| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts |
| for the Year Ended 31 January 2016 |
| for |
| WMA Limited |
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts |
| for the Year Ended 31 January 2016 |
| for |
| WMA Limited |
| WMA Limited (Registered number: SC241843) |
| Contents of the Abbreviated Accounts |
| for the Year Ended 31 January 2016 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| Chartered Accountants' Report | 6 |
| WMA Limited |
| Company Information |
| for the Year Ended 31 January 2016 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| WMA Limited (Registered number: SC241843) |
| Abbreviated Balance Sheet |
| 31 January 2016 |
| 31.1.16 | 31.1.15 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 3 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 4 |
| Capital redemption reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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) |
| Abbreviated Balance Sheet - continued |
| 31 January 2016 |
| The financial statements were approved by the Board of Directors on |
| WMA Limited (Registered number: SC241843) |
| Notes to the Abbreviated Accounts |
| for the Year Ended 31 January 2016 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| These financial statements have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
| Exemption from preparing a cash flow statement |
| Exemption has been taken from preparing a cash flow statement in accordance with the Financial Reporting |
| Standard for Smaller Entities (effective January 2015). |
| Turnover |
| Turnover represents net invoiced sales of goods, excluding value added tax. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Computer equipment | - |
| Stocks |
| Work in progress is valued at the lower of cost and net realisable value. |
| Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet date. |
| 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. |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 February 2015 |
| Additions |
| At 31 January 2016 |
| DEPRECIATION |
| At 1 February 2015 |
| Charge for year |
| At 31 January 2016 |
| NET BOOK VALUE |
| At 31 January 2016 |
| At 31 January 2015 |
| WMA Limited (Registered number: SC241843) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 31 January 2016 |
| 3. | DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| The aggregate total of debtors falling due after more than one year is £ |
| 4. | CALLED UP SHARE CAPITAL |
| Allotted and issued: |
| Number: | Class: | Nominal | 31.1.16 | 31.1.15 |
| value: | £ | £ |
| Share capital 1 | £1 |
| 5. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 January 2016 and |
| 31 January 2015: |
| 31.1.16 | 31.1.15 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts repaid |
| Balance outstanding at end of year |
| The director has confirmed that the loan will be repaid in full within nine months of the company's year end. |
| Creditors include the following amounts which are owed to individuals who were directors of the company during |
| the year: |
| 31.1.16 | 31.1.15 |
| £ | £ |
| Mr R J Weir | 8,205 | 85,852 |
| Mr D A Matthews | - | - |
| 8,205 | 85,852 |
| The maximum balance outstanding during the year amounted to £85,852. |
| The directors loans are non-interest bearing and carry no fixed terms of repayment. |
| 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 in respect of the company's annual |
| unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five) |
| have been prepared. |
| 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 2016 which comprise the Income Statement, Other |
| Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement 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 the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.org.uk/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 the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.org.uk/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. |
| 22 March 2016 |