Westmoreland Developments Limited - Accounts to registrar (filleted) - small 18.2
Westmoreland Developments Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Westmoreland Developments Limited |
| Unaudited Financial Statements for the Year Ended 31 October 2018 |
| Westmoreland Developments Limited (Registered number: 04257904) |
| Contents of the Financial Statements |
| for the Year Ended 31 October 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Westmoreland Developments Limited |
| Company Information |
| for the Year Ended 31 October 2018 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| BUSINESS ADDRESS: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| The White House |
| 2 Meadrow |
| Godalming |
| Surrey |
| GU7 3HN |
| Westmoreland Developments Limited (Registered number: 04257904) |
| Balance Sheet |
| 31 October 2018 |
| 31.10.18 | 31.10.17 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investments | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Non-distributable 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. |
| Westmoreland Developments Limited (Registered number: 04257904) |
| Balance Sheet - continued |
| 31 October 2018 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on |
| Westmoreland Developments Limited (Registered number: 04257904) |
| Notes to the Financial Statements |
| for the Year Ended 31 October 2018 |
| 1. | STATUTORY INFORMATION |
| Westmoreland Developments Limited is a |
| The company's registered number and registered office address can be found on the Company Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover during the year represents rents receivable and insurance recovered. Turnover in earlier years |
| represented fees received from the tenant during the period of development plus the recharge of tenants |
| variations. |
| Investments in associates |
| Investments in associate undertakings are recognised at cost. |
| Investment property |
| Professional fees, planning and survey costs incurred to obtain planning permission for proposed land |
| acquisitions by the company are capitalised. The initial land was purchased in April 2015 and additional land |
| was purchased in October 2016. All construction costs during the development process have been capitalised. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
| the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
| substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
| those in which they are recognised in financial statements.Deferred tax is measured using tax rates and laws that |
| have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
| timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
| will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2017 - NIL). |
| 4. | FIXED ASSET INVESTMENTS |
| Westmoreland Developments Limited (Registered number: 04257904) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 October 2018 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 November 2017 |
| Additions |
| Revaluations | 8,194,112 |
| At 31 October 2018 |
| NET BOOK VALUE |
| At 31 October 2018 |
| At 31 October 2017 |
| Fair value at 31 October 2018 is represented by: |
| £ |
| Valuation in 2017 | 9,434,365 |
| Valuation in 2018 | 8,194,112 |
| Cost | 29,771,523 |
| 47,400,000 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.10.18 | 31.10.17 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.10.18 | 31.10.17 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.10.18 | 31.10.17 |
| £ | £ |
| Bank loans |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Bank loans due over 5 yrs |