Wood Lane Countryside Centre Ltd - Period Ending 2019-03-30
Wood Lane Countryside Centre Ltd - Period Ending 2019-03-30
Registration number:
Wood Lane Countryside Centre Ltd
for the period from 20 March 2018 to 30 March 2019
The Circle
33 Rockingham Lane
Sheffield
S1 4FW
Wood Lane Countryside Centre Ltd
Contents
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Company Information |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Wood Lane Countryside Centre Ltd
Company Information
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Directors |
Frances Hill Marilyn Sanderson |
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Registered office |
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Accountants |
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Wood Lane Countryside Centre Ltd
Company number: 11264778 (England and Wales)
Balance Sheet as at 30 March 2019
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Note |
2019 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
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Net assets/(liabilities) |
- |
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Capital and reserves |
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Total equity |
- |
For the financial period ending 30 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Frances Hill
Director
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Page 2 |
Wood Lane Countryside Centre Ltd
Statement of Changes in Equity for the Period from 20 March 2018 to 30 March 2019
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Profit and loss account |
Total |
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Surplus for the period |
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Total comprehensive income |
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Gift aid distribution to parent charity |
(48,110) |
(48,110) |
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At 30 March 2019 |
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Wood Lane Countryside Centre Ltd
Notes to the Financial Statements for the Period from 20 March 2018 to 30 March 2019
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General information |
The company is a company limited by guarantee incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The finanical statements have been prepared on a going concern basis, however a material uncertainty exists as to whether the company can continue to operate for 12 months from the signing of the accounts, due to the current lockdown situation because of COVID-19 and also the parent charity cashflow difficulties as described in the charity accounts.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
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Wood Lane Countryside Centre Ltd
Notes to the Financial Statements for the Period from 20 March 2018 to 30 March 2019
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
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Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
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Debtors |
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Note |
2019 |
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Trade debtors |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Total current trade and other debtors |
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Creditors |
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2019 |
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Due within one year |
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Trade creditors |
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Other creditors |
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Related party transactions |
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Transactions with directors |
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Other transactions with directors |
£120 was paid to each of the directors for contribution towards mobile phone costs.
Summary of transactions with parent
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Wood Lane Countryside Centre Ltd
Notes to the Financial Statements for the Period from 20 March 2018 to 30 March 2019
£38,246 was paid to the parent company to cover payroll costs incurred by the charity for staff that worked in both entities.
The profits of £48,110 were distributed as a gift aid distribution, under a deed of covenant.
The parent charity hived off it's non-charitable activities on 1 April 2018 and transferred over the bank account and owed a further £28,637 in relation to deposits and income received in advance of rents. Round sum amounts were transferred to the parent during the year in relation to payroll costs and distributions. As at the period end the parent charity owed £13,483.
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