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WERNDALE PROPERTIES LIMITED - Company Information

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Draft

Werndale Properties Limited

Registered Number:01596315

For the year ended 31 March 2020

England and Wales

Unaudited Financial Statements

Draft

For the year ended 31 March 2020

Werndale Properties Limited

Contents Page

Statement of Financial Position

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Notes to the Financial Statements

Draft

As at 31 March 2020

Werndale Properties Limited

Statement of Financial Position

Registered Number :

01596315

2019

2020

Notes

Fixed assets

Property, plant and equipment

357,240

348,093

357,240

348,093

Current assets

Trade and other receivables

214,976

210,163

371,384

Cash and cash equivalents

414,926

625,089

586,360

Trade and other payables: amounts falling due within one

year

(129,270)

(151,691)

457,090

473,398

Net current assets

Total assets less current liabilities

830,638

805,183

(63,014)

(56,661)

Provisions for liabilities

767,624

Net assets

748,522

Capital and reserves

Called up share capital

23,800

Retained earnings

743,824

724,722

767,624

748,522

Shareholders' funds

For the year ended 31 March 2020 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 of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006

The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section

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.

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

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

K S Newport Director

These financial statements were approved and authorised for issue by the Board on 23 July 2020 and were signed by:

The notes form part of these financial statements

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Draft

For the year ended 31 March 2020

Werndale Properties Limited

Notes to the Financial Statements

Statutory Information

Werndale Properties Limited is a private limited company, limited by shares, domiciled in England and Wales,

registration number 01596315.

Principal place of business:

Unit 4

Alexandra Industrial Estate

Widness

WA8 7AE

Registered address:

19 Chorley Old Road

Bolton

Lancashire

BL1 3AD

The presentation currency is £ sterling.

1. Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A of Financial

Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the

Companies Act 2006. The financial statements have been prepared under the historical costs convention as

modified by the revaluation of certain assets.

Revenue recognition

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Property, plant and equipment

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Plant and machinery

15% Reducing balance

25% Reducing balance

Motor vehicles

Government grants

Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

Hire purchase and leasing commitments

Rentals payable under operating leases are charged against income on a straight line basis over the lease term. The finance element of the rental payment is charged to the profit and loss account on a method giving a constant rate of return on the balance outstanding.

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Draft

For the year ended 31 March 2020

Werndale Properties Limited

Notes to the Financial Statements Continued

2. Property, plant and equipment

Total

Motor vehicles

Plant and

machinery

Cost or

valuation

At 01 April 2019

660,196

111,056

549,140

86,548

35,479

51,069

Additions

(30,220)

(27,797)

Disposals

(58,017)

At 31 March 2020

572,412

116,315

688,727

Provision for depreciation and impairment

At 01 April 2019

312,103

82,900

229,203

Charge for year

60,490

8,163

52,327

(41,106)

(21,278)

(19,828)

On disposal

At 31 March 2020

331,487

69,785

261,702

At 31 March 2020

Net book value

310,710

46,530

357,240

At 31 March 2019

319,937

28,156

348,093

3. Trade and other receivables

2019

2020

Trade debtors

209,980

214,904

Other debtors

183

214,976

210,163

4. Trade and other payables: amounts falling due within one year

2019

2020

Trade creditors

40,511

45,301

Taxation and social security

65,396

79,476

Other creditors

45,784

4,493

151,691

129,270

5. Average number of persons employed

During the year the average number of employees was 0 (2019 : 15)

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