S.Wolffing Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00437539 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2020

FOR

S.WOLFFING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

L Reuben

M J Reuben

SECRETARY:

L Reuben

REGISTERED OFFICE:

4 Prince Albert Road

London

NW1 7SN

REGISTERED NUMBER:

00437539 (England and Wales)

ACCOUNTANTS:

Scodie Deyong LLP

Chartered Accountants

4 Prince Albert Road

London

NW1 7SN

FIXED ASSETS

Investment property

4

-

1,452,900

CURRENT ASSETS

Debtors

5

2,293,591

1,678,145

Cash at bank

1,239,576

177,758

3,533,167

1,855,903

CREDITORS

Amounts falling due within one year

6

(674,043

)

(547,517

)

NET CURRENT ASSETS

2,859,124

1,308,386

TOTAL ASSETS LESS CURRENT LIABILITIES

2,859,124

2,761,286

CAPITAL AND RESERVES

Called up share capital

8

10,000

10,000

Retained earnings

2,849,124

2,751,286

SHAREHOLDERS' FUNDS

2,859,124

2,761,286

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2020 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2020 and were signed on its behalf by:

M J Reuben - Director

L Reuben - Director

1.	STATUTORY INFORMATION

S.Wolffing Limited 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents rental income, excluding value added tax where applicable.

Investment property

Although this accounting policy is in accordance with the applicable accounting standard, SSAP 19, Accounting

for Investment Properties, it is a departure from the general requirement of the Companies Act 2006 for all

tangible assets to be depreciated. In the opinion of the director compliance with the standard is necessary for the

financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors

reflected in the annual valuation and the amount of this which otherwise have been charged cannot be separately

identified or quantified.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2019

1,452,900

Disposals

(1,452,900

)

At 30 June 2020

-

NET BOOK VALUE

At 30 June 2020

-

At 30 June 2019

1,452,900

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.20

30.6.19

£

£

Other debtors

2,293,591

1,678,145

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.20

30.6.19

£

£

Bank loans and overdrafts

-

450,000

Taxation and social security

20,887

10,053

Other creditors

653,156

87,464

674,043

547,517

7.	SECURED DEBTS

The following secured debts are included within creditors:

30.6.20

30.6.19

£

£

Bank loans

-

450,000

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.20

30.6.19

value:

£

£

10,000

Ordinary

£1

10,000

10,000

9.	RELATED PARTY DISCLOSURES

Dobell Property Ltd

A company in which M J Reuben & L Reuben are directors.

30.6.20

30.6.19

£

£

Amount due from related party at the balance sheet date

1,539,413

1,424,062

Dobell Finance Ltd

A Company in which M J reuben & L Reuben are directors.

Loans to the value of £500,000 were received during the year.

30.6.20

30.6.19

£

£

Amount due to related party at the balance sheet date

500,000

-

KEF London Ltd

A company in which J Reuben is a director.

30.6.20

30.6.19

£

£

Amount due from related party at the balance sheet date

250,000

250,000

Initial Incentives Ltd

A company in which M J Reuben and L Reuben are directors.

30.6.20

30.6.19

£

£

Amount due to related party at the balance sheet date

1,630

2,810