Woodchurch Limited - Accounts to registrar (filleted) - small 18.2
Woodchurch Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| WOODCHURCH LIMITED |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020 |
| WOODCHURCH LIMITED (REGISTERED NUMBER: 09581120) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| WOODCHURCH LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Accountants |
| 1 Brookmans Avenue |
| Brookmans Park |
| Hatfield |
| Hertfordshire |
| AL9 7QH |
| WOODCHURCH LIMITED (REGISTERED NUMBER: 09581120) |
| STATEMENT OF FINANCIAL POSITION |
| 31 MARCH 2020 |
| 31.3.20 | 31.3.19 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Prepayments and accrued income |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
6 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Non distributable reserves |
| Retained earnings | ( |
) |
| SHAREHOLDERS' FUNDS |
| 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. |
| WOODCHURCH LIMITED (REGISTERED NUMBER: 09581120) |
| STATEMENT OF FINANCIAL POSITION - continued |
| 31 MARCH 2020 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| WOODCHURCH LIMITED (REGISTERED NUMBER: 09581120) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| 1. | STATUTORY INFORMATION |
| Woodchurch Limited is a |
| company's registered number and registered office address can be found on the Company Information |
| page. |
| The financial statements are presented in sterling which is the functional currency of the company and |
| rounded to the nearest £. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| The turnover shown in the profit and loss account represents revenue recognised by the company in |
| respect of rental income received during the period. The company is not VAT registered. |
| Investment property |
| Investment properties for which fair value can be measured reliably without undue cost or effort are |
| measured at fair value at each reporting date with changes in fair value recognised in profit or loss. |
| the methods and significant assumptions used to ascertain the fair value at the balance sheet date and |
| fair value movement included in the profit for the year are as follows: |
| Properties are valued by the directors of the company following detailed discussions with experienced |
| professionals within the property sector. The last valuation occurred on the 31 March 2016 and it has |
| not been thought necessary to make any further adjustment in the current year. |
| Debtors and creditors receivable/payable within one year |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are |
| recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss |
| account in other administrative expenses. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of |
| Income and Retained Earnings, 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 statement of financial position date. |
| WOODCHURCH LIMITED (REGISTERED NUMBER: 09581120) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
| the statement of financial position date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods |
| different from those in which they are recognised in financial statements. Deferred tax is measured |
| using tax rates and laws that have been enacted or substantively enacted by the year end and that are |
| expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable |
| that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Impairment |
| Assets not measured at fair value are reviewed for any indication that the asset may be impaired at |
| each balance sheet date. if such indication exists, the recoverable amount of the asset, or the asset's |
| cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount |
| exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is |
| carried at a revalued amount where the impairment loss is a revaluation decrease. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2019 - NIL). |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 April 2019 |
| and 31 March 2020 |
| NET BOOK VALUE |
| At 31 March 2020 |
| At 31 March 2019 |
| The valuation was provided by the directors of the company following detailed discussions with |
| experienced professionals within the property sector. They believe the revaluations are conservative. |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.20 | 31.3.19 |
| £ | £ |
| Tax |
| Directors' loan accounts | 6,961 | 6,288 |
| Accrued expenses |
| WOODCHURCH LIMITED (REGISTERED NUMBER: 09581120) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| 6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.3.20 | 31.3.19 |
| £ | £ |
| Bank loans more 5 yrs non-inst | 2,341,859 | 2,304,811 |
| Other creditors |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Bank loans more 5 yrs non-inst |
| The Bank Loans are secured by fixed and floating charges over the fixed assets and investment |
| properties of the company. The loans are interest only products due to be repaid in twenty four years. |
| The loans started on the 28 November 2019. |
| At the balance sheet date, there was £1,861,213 (2019 - £1,884,329) owing to Goodkind Estates |
| Limited, a company who owns 100% of the issued share capital of Woodchurch Limited. This amount |
| is included in Creditors falling due after more than one year - Other Creditors. |