Wasdell Properties Ltd - Accounts to registrar (filleted) - small 18.2
Wasdell Properties Ltd - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 April 2020 |
for |
Wasdell Properties Ltd |
Wasdell Properties Ltd (Registered number: 10307277) |
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 |
Wasdell Properties Ltd |
Company Information |
for the Year Ended 30 April 2020 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Venture House |
Calne Road |
Lyneham |
Chippenham |
SN15 4PP |
Wasdell Properties Ltd (Registered number: 10307277) |
Statement of Financial Position |
30 April 2020 |
30.4.20 | 30.4.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Inventories |
Debtors | 7 |
Investments | 8 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 9 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
10 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 12 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The director acknowledges his 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. |
Wasdell Properties Ltd (Registered number: 10307277) |
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 director and authorised for issue on |
Wasdell Properties Ltd (Registered number: 10307277) |
Notes to the Financial Statements |
for the Year Ended 30 April 2020 |
1. | STATUTORY INFORMATION |
Wasdell Properties Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Wasdell Properties Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Significant judgements and estimates |
Current assets include horses. The value of a horse may go up or down. The director believes that unless factors to the contrary exist the investments should be written off over four years. |
Turnover |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Plant and machinery etc | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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. |
Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition. |
Wasdell Properties Ltd (Registered number: 10307277) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2020 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The group has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments. |
Basic financial assets, including trade and other receivables and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method. |
Basic financial liabilities, including trade and other payables, bank loans and loans from fellow group companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
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 statement of financial position date. |
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. |
Current asset investments |
Current asset investments relate to racehorses that are carried at cost less any impairment. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2019 - NIL). |
Wasdell Properties Ltd (Registered number: 10307277) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2020 |
4. | PROPERTY, PLANT AND EQUIPMENT |
Plant and |
machinery |
etc |
£ |
COST |
At 1 May 2019 |
Additions |
At 30 April 2020 |
DEPRECIATION |
At 1 May 2019 |
Charge for year |
At 30 April 2020 |
NET BOOK VALUE |
At 30 April 2020 |
At 30 April 2019 |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
Additions |
At 30 April 2020 |
NET BOOK VALUE |
At 30 April 2020 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 May 2019 |
and 30 April 2020 |
NET BOOK VALUE |
At 30 April 2020 |
At 30 April 2019 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.20 | 30.4.19 |
£ | £ |
Trade debtors |
Other debtors |
Wasdell Properties Ltd (Registered number: 10307277) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2020 |
8. | CURRENT ASSET INVESTMENTS |
30.4.20 | 30.4.19 |
£ | £ |
Other |
Current asset investments relate to horses that are held at cost and being written off over four years. |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.20 | 30.4.19 |
£ | £ |
Bank loans and overdrafts (see note 11) |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.4.20 | 30.4.19 |
£ | £ |
Other creditors |
11. | LOANS |
An analysis of the maturity of loans is given below: |
30.4.20 | 30.4.19 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
A bank facility is in place, monthly repayments are £35,781 and the termination date is within 12 months of the year end. |
12. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.4.20 | 30.4.19 |
value: | £ | £ |
ordinary | £1 | 100 | 100 |
13. | ULTIMATE CONTROLLING PARTY |
The controlling party is M J Tedham. |