Abbreviated Company Accounts - WATERSIDE INSTALLATIONS LIMITED

WATERSIDE INSTALLATIONS LIMITED Registered Number 03196680

Abbreviated Balance Sheet as at 31 May 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	60,811	26,694
		60,811	26,694
Current assets
Stocks		23,411	30,861
Debtors		214,063	252,281
Cash at bank and in hand		2,948	938
		240,422	284,080
Creditors: amounts falling due within one year		(276,998)	(289,722)
Net current assets (liabilities)		(36,576)	(5,642)
Total assets less current liabilities		24,235	21,052
Creditors: amounts falling due after more than one year		(13,088)	-
Provisions for liabilities		(7,774)	(3,506)
Total net assets (liabilities)		3,373	17,546
Capital and reserves
Called up share capital		40	40
Other reserves		60	60
Profit and loss account		3,273	17,446
Shareholders' funds		3,373	17,546

For the year ending 31 May 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 9 December 2014

And signed on their behalf by:
K GALE, Director
D GALE, Director

WATERSIDE INSTALLATIONS LIMITED Registered Number 03196680

Notes to the Abbreviated Accounts for the period ended 31 May 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 value, net of value added tax and discounts, of goods provided to customers
and work carried out in respect of services provided to customers.

Tangible assets depreciation policy
Depreciation has been provided at the following rates in order to write off the assets over their
estimated useful lives.
Improvements to premises - over the life of the lease
Plant & machinery - 25% reducing balance
Office equipment - Straight line over 3 years
Motor vehicles - 25 % reducing balance

Other accounting policies
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.

Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the
profit and loss account as they become payable in accordance with the rules of the scheme.

2Tangible fixed assets

	£
Cost
At 1 June 2013	96,847
Additions	68,000
Disposals	(52,093)
Revaluations	-
Transfers	-
At 31 May 2014	112,754
Depreciation
At 1 June 2013	70,153
Charge for the year	19,910
On disposals	(38,120)
At 31 May 2014	51,943
Net book values
At 31 May 2014	60,811
At 31 May 2013	26,694