Woolwright Property Investment Co Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00792260 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2019

for

Woolwright Property Investment Company

Limited

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

Chartered Accountants' Report

6

DIRECTORS:

P A Handley

Mrs D Hutchinson

C R W Bond

SECRETARY:

Mrs D Hutchinson

REGISTERED OFFICE:

6 Russell Place

Nottingham

NG1 5HJ

REGISTERED NUMBER:

00792260 (England and Wales)

ACCOUNTANTS:

HSKS Greenhalgh

Chartered Accountants

3rd Floor

Butt Dyke House

33 Park Row

Nottingham

NG1 6EE

FIXED ASSETS

Investment property

4

887,500

887,500

CURRENT ASSETS

Debtors

307,334

303,179

CREDITORS

Amounts falling due within one year

26,380

28,382

NET CURRENT ASSETS

280,954

274,797

TOTAL ASSETS LESS CURRENT LIABILITIES

1,168,454

1,162,297

PROVISIONS FOR LIABILITIES

64,026

64,026

NET ASSETS

1,104,428

1,098,271

CAPITAL AND RESERVES

Called up share capital

6

10,000

10,000

Other reserves

561,698

561,698

Retained earnings

532,730

526,573

SHAREHOLDERS' FUNDS

1,104,428

1,098,271

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 March 2019 in accordance with Section 444(2A) of the Companies Act 2006.

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 30 September 2019 and were signed on its behalf by:

P A Handley - Director

1.	STATUTORY INFORMATION

Woolwright Property Investment Company Limited is a private company, limited by shares , registered

in England and Wales. 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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents amounts derived from the renting of investment properties after deducting value

added tax where appropriate. All rental income is accounted for on a straight line basis over the period

of the lease.

Investment property

Investment property for which fair value can be measured reliably without undue cost or effort are

measured at fair value at each reporting date with changes in fair value recognised in the income

statement.

Debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are

recorded at transaction price. Any losses arising from impairment are recognised in the income

statement.

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 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.

Deferred tax is provided for on the revaluation of investment property as a provision for the potential

tax charge, were the asset to be sold at the valuation in effect at the balance sheet date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2018 - 3 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2018

and 31 March 2019

887,500

NET BOOK VALUE

At 31 March 2019

887,500

At 31 March 2018

887,500

The investment property has been included at fair value. The valuation is by the directors with due

reference to a valuation performed by Musson Liggins, Chartered Surveyors, in January 2017 and

property price indices. Any movement is recognised in the income statement.

5.	LEASING AGREEMENTS

Future minimum rentals receivable under non-cancellable operating leases fall due as follows:

2019

2018

£

£

Within one year

31,500

31,500

Between one and five years

96,958

123,083

In more than five years

-

-

128,458

154,583

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

10,000

Ordinary

£1

10,000

10,000

7.	RELATED PARTY DISCLOSURES

Loans to companies who are under common management control are included within debtors. These

loans are repayable on demand and are interest free.

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Statement of Financial Position. Readers are cautioned that the Income

Statement and certain other primary statements and the Report of the Directors are not required to be

filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of Woolwright Property Investment Company Limited for the year ended

31 March 2019 which comprise the Income Statement, Abridged Statement of Financial Position and the

related notes from the company's accounting records and from information and explanations you have given

us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Woolwright Property Investment Company Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Woolwright Property Investment Company Limited and state those matters that we have agreed to state to the Board of Directors of Woolwright Property Investment Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Woolwright Property Investment Company Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Woolwright Property Investment Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Woolwright Property Investment Company Limited. You consider that Woolwright Property Investment Company Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Woolwright Property Investment Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

HSKS Greenhalgh

Chartered Accountants

3rd Floor

Butt Dyke House

33 Park Row

Nottingham

NG1 6EE

17 October 2019