A & G WAINWRIGHT LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2016
Company Registration No. 07260379 (England and Wales)
A & G WAINWRIGHT LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
A & G WAINWRIGHT LIMITED
ABBREVIATED BALANCE SHEET
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
20,000
30,000
Tangible assets
2
1,800
2,405
21,800
32,405
Current assets
Debtors
40,961
1,669
Cash at bank and in hand
20,816
47,974
61,777
49,643
Creditors: amounts falling due within one year
(48,455)
(62,272)
Net current assets/(liabilities)
13,322
(12,629)
Total assets less current liabilities
35,122
19,776
Provisions for liabilities
(360)
(481)
34,762
19,295
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
34,662
19,195
Shareholders' funds
34,762
19,295
For the financial year ended 31 May 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 22 November 2016
Gary Wainwright
Alan Wainwright
Director
Director
Company Registration No. 07260379
A & G WAINWRIGHT LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.5
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
25% reducing balance
Fixtures, fittings & equipment
25% reducing balance
Motor vehicles
25% reducing balance
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 June 2015 & at 31 May 2016
100,000
10,279
110,279
Depreciation
At 1 June 2015
70,000
7,874
77,874
Charge for the year
10,000
605
10,605
At 31 May 2016
80,000
8,479
88,479
Net book value
At 31 May 2016
20,000
1,800
21,800
At 31 May 2015
30,000
2,405
32,405
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary share of £1 each
100
100