Company Registration No. 00693901 (England and Wales)
WELLSFORD INVESTMENTS LIMITED
Unaudited accounts
for the year ended 31 March 2019
WELLSFORD INVESTMENTS LIMITED
Unaudited accounts
Contents
WELLSFORD INVESTMENTS LIMITED
Company Information
for the year ended 31 March 2019
Company Number
00693901 (England and Wales)
Registered Office
15B CLAPTON COMMON
LONDON
E5 9AA
UNITED KINGDOM
Accountants
BEST BOOKS LTD
109 Leadale Road
London
N15 6BJ
WELLSFORD INVESTMENTS LIMITED
Statement of financial position
as at 31 March 2019
Investment property
912,459
562,459
Cash at bank and in hand
2,008
357
Creditors: amounts falling due within one year
(512,907)
(156,776)
Net current liabilities
(508,908)
(150,687)
Net assets
403,551
411,860
Called up share capital
100
100
Revaluation reserve
387,710
387,710
Profit and loss account
15,741
24,050
Shareholders' funds
403,551
411,860
For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 6 July 2020 and were signed on its behalf by
Naftali Thirhaus
Director
Company Registration No. 00693901
WELLSFORD INVESTMENTS LIMITED
Notes to the Accounts
for the year ended 31 March 2019
WELLSFORD INVESTMENTS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 00693901. The registered office is 15B CLAPTON COMMON, LONDON, E5 9AA, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
WELLSFORD INVESTMENTS LIMITED
Notes to the Accounts
for the year ended 31 March 2019
4
Tangible fixed assets
Fixtures & fittings
Fair value at 1 April 2018
562,459
Accrued income and prepayments
1,991
1,982
7
Creditors: amounts falling due within one year
2019
2018
Bank loans and overdrafts
500,000
-
Taxes and social security
1,040
3,469
Other creditors
10,037
152,226
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
9
Average number of employees
During the year the average number of employees was 3 (2018: 2).
