Wigan Shopping Arcade Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 08569322 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE PERIOD 14 JUNE 2013 TO 30 JUNE 2014

FOR

WIGAN SHOPPING ARCADE LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mrs A Kay

Miss Z Kay

REGISTERED OFFICE:

Daub House

Daub Lane

Mawdesley

Nr Ormskirk

Lancashire

L40 3TQ

REGISTERED NUMBER:

08569322 (England and Wales)

ACCOUNTANTS:

Fairhurst

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

FIXED ASSETS

Investment property

2

1,350,000

CURRENT ASSETS

Debtors

21,371

Cash at bank

937

22,308

CREDITORS

Amounts falling due within one year

689,158

NET CURRENT LIABILITIES

(666,850

)

TOTAL ASSETS LESS CURRENT LIABILITIES

683,150

CAPITAL AND RESERVES

Called up share capital

3

100

Revaluation reserve

658,393

Profit and loss account

24,657

SHAREHOLDERS' FUNDS

683,150

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2014.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 2014 in accordance with Section 476 of the Companies Act 2006.

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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 2 March 2015 and were signed on its behalf by:

Mrs A Kay - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April

2008).

Turnover

Turnover represents rents receivable during the year excluding value added tax.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

market value is transferred to a revaluation reserve.

Investment properties are accounted for in accordance with the Financial Reporting Standard for Smaller Entities

(effective April 2008) and are revalued annually to open market value. Changes in market value are reflected in

the revaluation reserve except when an impairment is deemed to be permanent, when the loss is charged directly

against the current year's profit.

No depreciation is provided in respect of investment properties. This treatment is a departure from the

requirements of the Companies Act 2006 which requires all properties to be depreciated. However, the Directors

consider that these properties are not held for consumption but for investment and that to depreciate them would

not give a true and fair view. The amount of depreciation which might otherwise have been charged cannot be

separately identified or quantified as it is not practical to assess the estimated useful lives of investment

properties.

2.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

Additions

691,607

Revaluations

658,393

At 30 June 2014

1,350,000

NET BOOK VALUE

At 30 June 2014

1,350,000

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

Ordinary

1

100

100 Ordinary shares of 1 each were allotted and fully paid for cash at par during the period.