Llandudno Building & Workmen's Dwellings - Accounts to registrar (filleted) - small 18.2
Llandudno Building & Workmen's Dwellings - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| THE LLANDUDNO BUILDING & WORKMEN'S |
| DWELLINGS COMPANY LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| THE LLANDUDNO BUILDING & WORKMEN'S |
| DWELLINGS COMPANY LIMITED (REGISTERED NUMBER: 00022672) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| THE LLANDUDNO BUILDING & WORKMEN'S |
| DWELLINGS COMPANY LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants & Chartered Tax Advisers |
| First Floor Suite |
| 23 Trinity Square |
| LLANDUDNO |
| North Wales |
| LL30 2RH |
| THE LLANDUDNO BUILDING & WORKMEN'S |
| DWELLINGS COMPANY LIMITED (REGISTERED NUMBER: 00022672) |
| STATEMENT OF FINANCIAL POSITION |
| 31 DECEMBER 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 8 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| 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. |
| THE LLANDUDNO BUILDING & WORKMEN'S |
| DWELLINGS COMPANY LIMITED (REGISTERED NUMBER: 00022672) |
| STATEMENT OF FINANCIAL POSITION - continued |
| 31 DECEMBER 2018 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of comprehensive income has not been delivered. |
| The financial statements were approved by the Board of Directors on |
| THE LLANDUDNO BUILDING & WORKMEN'S |
| DWELLINGS COMPANY LIMITED (REGISTERED NUMBER: 00022672) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| 1. | STATUTORY INFORMATION |
| The Llandudno Building & Workmen's Dwellings Company Limited is a |
| registered in England and Wales. The company's registered number and registered office address can be found |
| on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Revenue recognition |
| Turnover is measured at the fair value of the consideration received or receivable, where the amount of revenue |
| can be measured reliably and it is probable that the economic benefits associated with the transaction will flow to |
| the company. Turnover comprises rents receivable and investment income. The company is not required to be |
| registered for VAT. |
| Tangible fixed assets |
| In accordance with FRS 102, investment properties are revalued annually and the aggregate surplus or deficit is |
| transferred to the income statement as a fair value adjustment. No depreciation is provided in respect of |
| investment properties. |
| The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the |
| generally accepted accounting principle set out in FRS 102. The directors consider that, because these properties |
| are not held for consumption, but for their investment potential, to depreciate them would not give a true and fair |
| view, and that it is necessary to adopt FRS 102 in order to give a true and fair view. |
| If this departure from the Act had not been made, the profit for the financial year would have been reduced by |
| depreciation. However, the amount of depreciation cannot reasonably be quantified because depreciation is only |
| one of many factors reflected in the annual valuation and the amount which might otherwise have been shown |
| cannot be separately identified or quantified. |
| Deferred tax has been accounted for on revaluation surpluses. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of comprehensive |
| income, 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 that have been enacted or |
| substantively enacted by the statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| statement of financial position 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. |
| THE LLANDUDNO BUILDING & WORKMEN'S |
| DWELLINGS COMPANY LIMITED (REGISTERED NUMBER: 00022672) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| Fixed asset investments |
| Fixed asset investments comprise UK quoted securities which are revalued annually under the alternative |
| accounting rules for investments, as set out in Statutory Instrument 2008 No 409. These investments are valued |
| at their mid-market price as determined by the London Stock Exchange. |
| Deferred tax has been accounted for on revaluation surpluses. |
| Dividends |
| In accordance with the provisions of FRS 102, no account is taken for dividends relating to the year, where these |
| are declared after the balance sheet date. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Land and |
| buildings |
| £ |
| COST OR VALUATION |
| At 1 January 2018 |
| Additions |
| Revaluations |
| At 31 December 2018 |
| NET BOOK VALUE |
| At 31 December 2018 |
| At 31 December 2017 |
| If land and buildings had not been revalued they would have been included at the following historical cost: |
| 2018 | 2017 |
| £ | £ |
| Cost | 790,819 | 649,774 |
| Land and buildings were valued on an open market basis on 31 December 2018 by Geoffrey Butterworth |
| Chartered Surveyors. |
| THE LLANDUDNO BUILDING & WORKMEN'S |
| DWELLINGS COMPANY LIMITED (REGISTERED NUMBER: 00022672) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| 5. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST OR VALUATION |
| At 1 January 2018 |
| Disposals | ( |
) |
| Revaluations | ( |
) |
| At 31 December 2018 |
| NET BOOK VALUE |
| At 31 December 2018 |
| At 31 December 2017 |
| If fixed asset investments had not been revalued they would have been included at the following historical cost: |
| 2018 | 2017 |
| £ | £ |
| Cost | 99,818 | 174,497 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Prepayments |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Tax |
| Other creditors |
| Accrued expenses |
| 8. | PROVISIONS FOR LIABILITIES |
| 2018 | 2017 |
| £ | £ |
| Deferred tax on revaluations | 172,738 | 182,516 |
| THE LLANDUDNO BUILDING & WORKMEN'S |
| DWELLINGS COMPANY LIMITED (REGISTERED NUMBER: 00022672) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| 8. | PROVISIONS FOR LIABILITIES - continued |
| Deferred |
| tax |
| £ |
| Balance at 1 January 2018 |
| Credit to Income Statement during year | ( |
) |
| Balance at 31 December 2018 |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2018 | 2017 |
| value: | £ | £ |
| Ordinary | £5 | 18,360 |