W & A Property Developments Limited - Accounts to registrar (filleted) - small 18.2
W & A Property Developments Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
W & A PROPERTY DEVELOPMENTS LIMITED |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2020 |
W & A PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: NI053590) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2020 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
W & A PROPERTY DEVELOPMENTS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2020 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
36-38 Northland Row |
Dungannon |
Co. Tyrone |
BT71 6AP |
W & A PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: NI053590) |
STATEMENT OF FINANCIAL POSITION |
30 APRIL 2020 |
2020 | 2019 |
Notes | £ | £ |
NON-CURRENT ASSETS |
Investment property | 5 |
CURRENT ASSETS |
Inventories |
Receivables | 6 |
Cash at bank |
PAYABLES |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
PAYABLES |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Other reserves |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
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. |
W & A PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: NI053590) |
STATEMENT OF FINANCIAL POSITION - continued |
30 APRIL 2020 |
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 |
W & A PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: NI053590) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2020 |
1. | STATUTORY INFORMATION |
W & A Property Developments Limited is a |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The accounts are prepared under the historical cost convention modified when necessary to include the revaluation of certain fixed assets. |
Revenue |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Inventories |
Stocks are valued at the lower of cost and net realisable value. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling. |
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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Cash flow statement |
The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company. |
Exceptional item |
Exceptional items are disclosed separately in the financial statements where it is necessary to do so to provide further understanding of the financial performance of the company. They are items |
that are material either because of their size or their nature or that are nonrecurring. They are considered as exceptional items and are presented within the line items to which they best relate. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
W & A PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: NI053590) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2020 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 May 2019 |
Disposals | ( |
) |
Revaluations | 270,000 |
At 30 April 2020 |
NET BOOK VALUE |
At 30 April 2020 |
At 30 April 2019 |
Fair value at 30 April 2020 is represented by: |
£ |
Valuation in 2019 | 455,000 |
Valuation in 2020 | 270,000 |
725,000 |
6. | RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Other receivables |
7. | PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Bank loans and overdrafts (see note 9) |
Trade payables |
Amounts owed to group undertakings |
Taxation and social security |
Other payables |
8. | PAYABLES: AMOUNTS FALLING DUE AFTER ONE YEAR |
2020 | 2019 |
£ | £ |
Bank loans (see note 9) |
9. | LOANS |
An analysis of the maturity of loans is given below: |
2020 | 2019 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
W & A PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: NI053590) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2020 |
9. | LOANS - continued |
The bank loans and overdraft have been secured by the company. |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
At the year end an amount of £1,320,000 was owing to the directors. |
11. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |