Vestwater Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08127339 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2019

for

Vestwater Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P Waterton

C E Waterton

SECRETARY:

C E Waterton

REGISTERED OFFICE:

Unit 5 Lockwood Close

Lockwood Close Industrial Estate

Leeds

West Yorkshire

LS11 5UU

REGISTERED NUMBER:

08127339 (England and Wales)

ACCOUNTANTS:

Haines Watts

Sterling House

1 Sheepscar Court

Meanwood Road

Leeds

West Yorkshire

LS7 2BB

BANKERS:

National Westminster

PO Box 959

96 Brighton Road

Coulsdon

Surrey

CR5 2YS

FIXED ASSETS

Investments

5

383,504

383,504

Investment property

6

900,000

900,000

1,283,504

1,283,504

CURRENT ASSETS

Debtors

7

89,956

56,390

Cash at bank

20,127

20,623

110,083

77,013

CREDITORS

Amounts falling due within one year

8

642,870

601,505

NET CURRENT LIABILITIES

(532,787

)

(524,492

)

TOTAL ASSETS LESS CURRENT LIABILITIES

750,717

759,012

CREDITORS

Amounts falling due after more than one year

9

(411,302

)

(450,177

)

PROVISIONS FOR LIABILITIES

11

(19,307

)

(19,307

)

NET ASSETS

320,108

289,528

CAPITAL AND RESERVES

Called up share capital

12

104

104

Retained earnings

320,004

289,424

SHAREHOLDERS' FUNDS

320,108

289,528

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 23 March 2020 and were signed on its behalf by:

P Waterton - Director

1.	STATUTORY INFORMATION

Vestwater Ltd 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.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover comprises revenue recognised by the company in respect of rent receivable during the

year, exclusive of Value Added Tax.

Investment property

Investment properties are included in the balance sheet at their open market value in accordance

with Section 1A of FRS 102 and are not depreciated. This treatment is contrary to the Companies Act

2006 which states that fixed assets should be depreciated but is, in the opinion of the directors,

necessary to give a true and fair view of the financial position of the company.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of

financial assets and liabilities like trade and other debtors and creditors, loans from banks and other

third parties, loans to related parties and investments in non-puttable ordinary shares.

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the statement

of income and retained earnings, except that a charge attributable to an item of income and expense

recognised as other comprehensive income or to an item recognised directly in equity is also

recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been

enacted or substantively enacted by the balance sheet date in the countries where the Company

operates and generates income.

Finance costs

Finance costs are charged to the statement of income and retained earnings over the term of the

debt using the effective interest method so that the amount charged is at a constant rate on the

carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated

capital instrument.

Borrowing costs

All borrowing costs are recognised in the statement of income and retained earnings in the year in

which they are incurred.

Investments

Investments held as fixed assets are shown at cost less provision for impairment.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty

on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no

more than three months from the date of acquisition and that are readily convertible to known

amounts of cash with insignificant risk of change in value.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank

loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at

amortised cost using the effective interest method.

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive

obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate

can be made of the amount of the obligation.

Provisions are charged as an expense to the statement of income and retained earnings in the year

that the Company becomes aware of the obligation, and are measured at the best estimate at the

balance sheet date of the expenditure required to settle the obligation, taking into account relevant

risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are

recognised when paid. Final equity dividends are recognised when approved by the shareholders at

an annual general meeting.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

5.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

2019

2018

£

£

Other

383,504

383,504

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2018

and 30 June 2019

900,000

NET BOOK VALUE

At 30 June 2019

900,000

At 30 June 2018

900,000

The 2019 valuations were made by the directors, on an open market value basis.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

41,958

8,392

Other debtors

47,998

47,998

89,956

56,390

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts (see note 10)

54,991

54,991

Trade creditors

5,030

1,695

Taxation and social security

14,094

6,064

Other creditors

568,755

538,755

642,870

601,505

Included within creditors falling due within one year are amounts of £54,991 (2018 £54,991) secured

by the company in respect of bank loans.

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans (see note 10)

411,302

450,177

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

191,338

230,213

Included within creditors falling due in over one year are amounts of £411,302 (2018: £450,177)

secured by the company in respect of bank loans.

10.

LOANS

An analysis of the maturity of loans is given below:

2019

2018

£

£

Amounts falling due within one year or on demand:

Bank loans

54,991

54,991

Amounts falling due between one and two years:

Bank loans - 1-2 years

54,991

54,991

Amounts falling due between two and five years:

Bank loans - 2-5 years

164,973

164,973

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

191,338

230,213

11.	PROVISIONS FOR LIABILITIES

2019

2018

£

£

Deferred tax

19,307

19,307

Deferred

tax

£

Balance at 1 July 2018

19,307

Balance at 30 June 2019

19,307

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

104

Ordinary

1

104

104

13.	RELATED PARTY DISCLOSURES

Included within creditors is a balance of £551,205 (2018: £476,205) owed to a company in which

Vestwater Limited has a participating interest.

No further transactions with related parties were undertaken such as are required to be disclosed

under Section 1A of FRS 102.