Registered number
06846022
A B & J L Wilcox Limited
Abbreviated Accounts
31 March 2016
A B & J L Wilcox Limited
Registered number: 06846022
Abbreviated Balance Sheet
as at 31 March 2016
Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 111,843 131,624
Investments 50 50
111,893 131,674
Current assets
Stocks 84,337 95,419
Debtors 52,104 46,792
Cash at bank and in hand 211 4,995
136,652 147,206
Creditors: amounts falling due within one year (176,239) (152,647)
Net current liabilities (39,587) (5,441)
Total assets less current liabilities 72,306 126,233
Creditors: amounts falling due after more than one year (45,009) (87,729)
Provisions for liabilities (18,393) (21,965)
Net assets 8,904 16,539
Capital and reserves
Called up share capital 3 100 100
Profit and loss account 8,804 16,439
Shareholders' funds 8,904 16,539
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
J L Wilcox
Director
Approved by the board on 23 November 2016
A B & J L Wilcox Limited
Notes to the Abbreviated Accounts
for the year ended 31 March 2016
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery 25% reducing balance per annum
Motor vehicles 25% reducing balance per annum
Stocks
Stock is valued at the lower of cost and net realisable value.
Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.
Leasing and hire purchase commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.
2 Tangible fixed assets £
Cost
At 1 April 2015 336,268
Additions 28,000
Disposals (54,075)
At 31 March 2016 310,193
Depreciation
At 1 April 2015 204,644
Charge for the year 30,954
On disposals (37,248)
At 31 March 2016 198,350
Net book value
At 31 March 2016 111,843
At 31 March 2015 131,624
3 Share capital Nominal 2016 2016 2015
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 100 100 100
100 100
4 Related party transactions 2016 2015
£ £
Directors' loan account
Balance at 1 April 2015 39,601 59,251
Dividends paid 7,000 15,500
Cash withdrawn (33,851) (35,150)
Balance as at 31 March 2016 12,750 39,601
The company is controlled by A B Wilcox and J L Wilcox, directors and joint shareholders of the company.
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