JW Willesden Limited
JW Willesden Limited
Registered number: 09073188
Unaudited Financial Statements
For The Year Ended 30 June 2019
JW Willesden Limited
Unaudited Financial Statements
For The Year Ended 30 June 2019
Unaudited Financial Statements
| Contents | |
| Page | |
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| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—4 |
JW Willesden Limited
Balance Sheet
As at
30 June 2019
Balance Sheet
Registered number:
09073188
For the year ending 30 June 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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| Notes | £ | £ | £ | £ | |
| CURRENT ASSETS | |||||
| Stocks | 6 |
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| Debtors | 7 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 8 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 9 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 92,386 | 76,736 | |||
Page 1
JW Willesden Limited
Balance Sheet (continued)
As at
30 June 2019
Directors' responsibilities:
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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The notes on pages 3 to 4 form part of these financial statements.
Page 2
JW Willesden Limited
Notes to the Financial Statements
For The Year Ended 30 June 2019
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard 102 for Smaller Entities (effective April 2008).
1.2.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
The stock in the company is one commercial property, which has planning for a residential development and the directors hope to start the development in 2019 or as soon as practical. In the meantime the property is rented at short term commercial rents to a related party.
1.3.
Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
1.4.
Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.
4.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
| 2019 | 2018 | ||
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| Office and administration |
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6.
Stocks
| 2019 | 2018 | ||
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| £ | £ | ||
| Stock - work in progress |
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The stock is one commercial site in North London that has planning for residential development. Development started during the year and is anticipated to take 18 months to complete.
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JW Willesden Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 June 2019
7.
Debtors
| 2019 | 2018 | ||
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| £ | £ | ||
| Due within one year | |||
| VAT |
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8.
Creditors: Amounts Falling Due Within One Year
| 2019 | 2018 | ||
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| £ | £ | ||
| Trade creditors |
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| Corporation tax |
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| Other taxes and social security |
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| VAT | - |
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| Accruals and deferred income |
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| Amounts owed to associates |
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10.
Related Party Transactions
Wedge Investments Ltd
Associated company, common shareholders
The related party is funding the development pending development funding being put in place. At the year end the related party was owed £1,266,262.
11.
Controlling Party
The company's controlling party is James Wedge by virtue of his ownership of 60% of the issued share capital in the company.
12.
General Information
JW Willesden Limited Registered number 09073188 is a limited by shares company incorporated in England & Wales. The Registered Office is Unit 11, Worton Court, Worton Hall Ind Estate, Worton Road, Isleworth, Middlesex, TW7 6ER.
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