Willoughby (481) Ltd - Period Ending 2019-12-31

For the year ending 31 December 2019 the company was entitled to exemption under section 480 of the Companies Act 2006 relating to dormant companies.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2015).

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The company was dormant and has not traded during the year. The directors are satisfied, having made all necessary enquiries, that the loans due to shareholders of £3,694,568 will not be required for repayment for the foreseeable future being at least greater than 12 months from the date of approval of these financial statements.

Fixed asset investments are stated at historical cost less provision for any diminution in value.

The directors consider that the substance of the loan to group undertakings is such that the loans are deemed to be an effective equity stake. This view has been taken as the company does not expect repayment of the loan for the foreseeable future or until the investment is sold. Accordingly the loan to the group undertaking is not retranslated on an annual basis.