Willow Homes (East Anglia) Limited Filleted accounts for Companies House (small and micro)

WILLOW HOMES (EAST ANGLIA) LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 09643688

Willow Homes (East Anglia) Limited

Filleted Financial Statements

31 August 2018

Willow Homes (East Anglia) Limited

Balance Sheet

31 August 2018

	31 Aug 18	31 Mar 17
Note	£	£

Fixed assets

Tangible assets	4	–	320,000

Current assets

Debtors	5	10,000	10,660
Cash at bank and in hand		9,021	153,061
		--------	----------
		19,021	163,721

Creditors: amounts falling due within one year	6	18,900	117,560
		--------	----------
Net current assets		121	46,161
		----	----------
Total assets less current liabilities		121	366,161

Provisions

Taxation including deferred tax	–	20,300
	----	----------
Net assets	121	345,861
	----	----------

Capital and reserves

Called up share capital	7	100	100
Profit and loss account		21	345,761
		----	----------
Shareholders funds		121	345,861
		----	----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements were approved by the board of directors and authorised for issue on 30 April 2019 , and are signed on behalf of the board by:

Mr B A Keane

Director

Company registration number: 09643688

Willow Homes (East Anglia) Limited

Notes to the Financial Statements

period from 1st April 2017 to 31st August 2018

1. General information

The Company is a private company limited by shares, registered in England and Wales. The address of the registered office is Pendragon House, 65 London Road, St Albans AL1 1LJ and the Company's place of business is 1 Cricket View, Mildenhall IP28 7FA.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is stated net of VAT and is recognised on residential housing developments when the property is structurally complete and legally transferred to the purchaser.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Deferred tax is measured using the tax rates and laws that have been enacted

Investment property

Investment properties for which fair value can be measured reliably and without undue cost or effort on an ongoing basis are measured at fair value annually with any change recognised in the profit and loss account. No depreciation is provided on investment properties.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

4. Tangible assets

	Investment property	Total
	£	£
Cost
At 1st April 2017	320,000	320,000
Disposals	( 320,000)	( 320,000)
	----------	----------
At 31st August 2018	–	–
	----------	----------
Depreciation
At 1st April 2017 and 31st August 2018	–	–
	----------	----------
Carrying amount
At 31st August 2018	–	–
	----------	----------
At 31st March 2017	320,000	320,000
	----------	----------

The investment properties were valued by the directors on 31st March 2017 on the basis of existing use.

Tangible assets held at valuation

In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

	Investment property
	£
At 31st August 2018
Aggregate cost	–
Aggregate depreciation	–
	----
Carrying value	–
	----

At 31st March 2017
Aggregate cost	210,840
Aggregate depreciation	–
	----------
Carrying value	210,840
	----------

5. Debtors

	31 Aug 18	31 Mar 17
	£	£
Trade debtors	–	660
Other debtors	10,000	10,000
	--------	--------
	10,000	10,660
	--------	--------

6. Creditors: amounts falling due within one year

	31 Aug 18	31 Mar 17
	£	£
Trade creditors	–	43,563
Amounts owed to group undertakings and undertakings in which the company has a participating interest	13,900	–
Social security and other taxes	–	45,097
Other creditors	5,000	28,900
	--------	----------
	18,900	117,560
	--------	----------

7. Called up share capital

Issued, called up and fully paid

	31 Aug 18		31 Mar 17
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100.00	100	100.00
	----	--------	----	--------

8. Summary audit opinion

The auditor's report for the period dated 30 April 2019 was unqualified.

The senior statutory auditor was Amanda Ruggles , for and on behalf of Gilberts .

9. Controlling party

The Company's parent undertaking is Cameron Ventures Group Limited and the ultimate parent undertaking is Cameron Ventures Hotels Limited. Copies of the accounts of Cameron Ventures Hotels Limited in which the Company is consolidated can be obtained from the registered office (address on page 1).