Windmill Properties (Eur) Limited - Accounts to registrar (filleted) - small 18.2
Windmill Properties (Eur) Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
ABRIDGED UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2019 |
FOR |
WINDMILL PROPERTIES (EUR) LIMITED |
WINDMILL PROPERTIES (EUR) LIMITED (REGISTERED NUMBER: 07636093) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 30 September 2019 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
WINDMILL PROPERTIES (EUR) LIMITED |
COMPANY INFORMATION |
for the year ended 30 September 2019 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
WINDMILL PROPERTIES (EUR) LIMITED (REGISTERED NUMBER: 07636093) |
ABRIDGED BALANCE SHEET |
30 September 2019 |
2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
5 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
WINDMILL PROPERTIES (EUR) LIMITED (REGISTERED NUMBER: 07636093) |
ABRIDGED BALANCE SHEET - continued |
30 September 2019 |
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 and authorised for issue on signed on its behalf by: |
WINDMILL PROPERTIES (EUR) LIMITED (REGISTERED NUMBER: 07636093) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 30 September 2019 |
1. | STATUTORY INFORMATION |
Windmill Properties (Eur) Limited is a |
The company's registered number and registered office address can be found on the Company Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The principal accounting policies adopted in the preparation of the financial statements are set out below. |
Turnover |
Turnover comprises the value of sales (net of value added tax) of goods and services provided in the normal |
course of business. Revenue is recognised in respect of service contracts when the company obtains the right to |
consideration. |
Investment property |
Investment properties are shown at their open market value. The surplus or deficit arising from the annual |
revaluation is transferred to the investment revaluation reserve unless a deficit, or its reversal, on an individual |
investment property is expected to be permanent, in which case it is recognised in the profit and loss account for |
the year. |
This is in accordance with the FRSSE which, unlike the Companies Act 2006, does not require depreciation of |
investment properties, unless they are held as leasehold and the remaining term of the lease is less than 20 years. |
In this case the leasehold property will be amortised over the remaining term of the lease. |
Investment properties are held for their investment potential and not for use by the company and so their current |
value is of prime importance. The departure from the provisions of the Companies Act is required in order to |
give a true and fair view. |
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 balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet 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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
WINDMILL PROPERTIES (EUR) LIMITED (REGISTERED NUMBER: 07636093) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 September 2019 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 October 2018 |
and 30 September 2019 |
NET BOOK VALUE |
At 30 September 2019 |
At 30 September 2018 |
Fair value at 30 September 2019 is represented by: |
£ |
Valuation in 2015 | 618,558 |
Valuation in 2018 | 77,733 |
Cost | 1,603,709 |
2,300,000 |
Investment property was valued on an open market basis basis on 30 September 2019 by the Directors. . |
5. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
2019 | 2018 |
£ | £ |
Repayable by instalments |
Bank loans - more than 5 years |
6. | SECURED DEBTS |
The following secured debts are included within creditors: |
2019 | 2018 |
£ | £ |
Bank loans |
The bank loan is secured by way of a legal mortgage dated 26th June 2015 in favour of National Westminster |
Bank PLC. |
7. | CONTROLLING INTERESTS |
The directors are considered to be the ultimate controlling parties by virtue of their ability to act in concert in |
respect of the financial and operating policies of the company. |