| WAYASPECT LIMITED |
| Registered number: |
03569708 |
England & Wales |
| Balance Sheet |
| as at 31 October 2018 |
|
| Notes |
|
|
2018 |
|
|
2017 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
4 |
|
|
1,376,712 |
|
|
1,320,624 |
|
| Current assets |
| Debtors |
5 |
|
21,870 |
|
|
14,500 |
| Cash at bank and in hand |
|
|
3,240 |
|
|
38,011 |
|
|
|
25,110 |
|
|
52,511 |
|
| Creditors: amounts falling due within one year |
6 |
|
(69,285) |
|
|
(127,321) |
|
| Net current liabilities |
|
|
|
(44,175) |
|
|
(74,810) |
|
| Net assets |
|
|
|
1,332,537 |
|
|
1,245,814 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
2 |
|
|
2 |
| Fair value reserve |
7 |
|
|
777,244 |
|
|
734,226 |
| Profit and loss account |
|
|
|
555,291 |
|
|
511,586 |
|
| Shareholder's funds |
|
|
|
1,332,537 |
|
|
1,245,814 |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The company annual accounts and reports have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime |
| The option not to file the directors report and profit and loss account has been taken under s444 |
| ON BEHALF OF THE BOARD: |
|
|
|
| AJ Jessel |
| Director |
| Approved by the board on 7 March 2019 |
|
| WAYASPECT LIMITED |
| Notes to the Unaudited Accounts |
| for the year ended 31 October 2018 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with FRS 102 section 1A, The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 |
|
|
Turnover |
|
Turnover represents rents received from properties and management charges to customers during the year, excluding value added tax |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Freehold buildings |
nil |
|
Plant and machinery |
25% reducing balance |
|
|
Investment property |
|
Investment property is included at fair value. Gains are recognised in the profit and loss account and deferred tax is provided on these gains at the rate expected to apply when the property is sold |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans are initially recognised at transaction price net of any transaction costs and are interest free and repayable on demand. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. |
|
|
Pensions |
|
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account in the period to which they relate |
|
|
| 2 |
Profit & loss accounts |
2018 |
|
2017 |
|
This is stated after charging: |
£ |
£ |
|
|
Bad debts written off |
33 |
|
136,904 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
33 |
|
136,904 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Employees |
2018 |
|
2017 |
| Number |
Number |
|
|
Average number of persons employed by the company including directors |
|
|
|
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Tangible fixed assets |
|
|
|
|
Land and buildings |
|
Plant and machinery etc |
|
Total |
| £ |
£ |
£ |
|
Cost or valuation |
|
At 1 November 2017 |
1,320,221 |
|
4,716 |
|
1,324,937 |
|
Additions |
13,171 |
|
- |
|
13,171 |
|
Surplus on revaluation |
43,018 |
|
- |
|
43,018 |
|
At 31 October 2018 |
1,376,410 |
|
4,716 |
|
1,381,126 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 November 2017 |
- |
|
4,313 |
|
4,313 |
|
Charge for the year |
- |
|
101 |
|
101 |
|
At 31 October 2018 |
- |
|
4,414 |
|
4,414 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 October 2018 |
1,376,410 |
|
302 |
|
1,376,712 |
|
At 31 October 2017 |
1,320,221 |
|
403 |
|
1,320,624 |
|
|
|
|
|
|
|
|
|
|
|
Freehold land and buildings: |
2018 |
|
2017 |
| £ |
£ |
|
Historical cost |
599,167 |
|
585,995 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
599,167 |
|
585,995 |
|
The company's freehold properties are included in the accounts at their open market valuation as valued by Lewis Doyle Chartered Surveyors on 15/11/2018. The other assets are stated at cost. |
|
|
| 5 |
Debtors |
2018 |
|
2017 |
| £ |
£ |
|
|
Trade debtors |
- |
|
750 |
|
Other debtors |
21,870 |
|
13,750 |
|
|
|
|
|
|
21,870 |
|
14,500 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due within one year |
2018 |
|
2017 |
| £ |
£ |
|
|
Trade creditors |
10,433 |
|
21,282 |
|
Taxation and social security costs |
4,679 |
|
- |
|
Other creditors |
54,173 |
|
106,039 |
|
|
|
|
|
|
69,285 |
|
127,321 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Fair value reserve |
2018 |
|
2017 |
| £ |
£ |
|
|
At 1 November 2017 |
734,226 |
|
677,919 |
|
Gain on revaluation of investment property |
43,018 |
|
60,605 |
|
Deferred taxation arising on the revaluation of investment property |
- |
|
(4,298) |
|
|
At 31 October 2018 |
777,244 |
|
734,226 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Related party transactions |
|
|
Mr A Jessel is a director and shareholder of the company. The amount due to Mr A Jessel included in other creditors is £44,273 (2017 £97,339). The loan is interest free and repayable on demand |
|
| 9 |
Other information |
|
|
WAYASPECT LIMITED is a private company limited by shares and incorporated in England. Its registered office is: |
|
Albans Lodge |
|
Romford Road |
|
Pembury |
|
Tunbridge Wells |
|
TN2 4BB |
