WBR Properties Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09647650 (England and Wales)

ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2020

FOR

WBR PROPERTIES LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Dr G M Reynolds

Dr L Wang

REGISTERED OFFICE:

Lancaster House

Drayton Road

Solihull

West Midlands

B90 4NG

REGISTERED NUMBER:

09647650 (England and Wales)

FIXED ASSETS

Investment property

3

1,100,000

1,100,000

CURRENT ASSETS

Debtors

33,389

46,035

Cash at bank

4,156

498

37,545

46,533

CREDITORS

Amounts falling due within one year

67,150

99,865

NET CURRENT LIABILITIES

(29,605

)

(53,332

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,070,395

1,046,668

CREDITORS

Amounts falling due after more than one year

4

(609,306

)

(630,414

)

PROVISIONS FOR LIABILITIES

(61,292

)

(61,292

)

NET ASSETS

399,797

354,962

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

399,697

354,862

SHAREHOLDERS' FUNDS

399,797

354,962

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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 June 2020 in accordance with Section 444(2A) of the Companies Act 2006.

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 22 March 2021 and were signed on its behalf by:

Dr L Wang - Director

1.	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.

The accounts have been prepared in accordance with applicable accounting standards. The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year.

Turnover

Turnover comprises the value of sales (net of value added tax) of goods and services provided in the normal course of business. Revenue is recognised in respect of service contracts when the company obtains the right to consideration.

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.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

2.	EMPLOYEES AND DIRECTORS

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

3.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2019

and 30 June 2020

1,100,000

NET BOOK VALUE

At 30 June 2020

1,100,000

At 30 June 2019

1,100,000

Fair value at 30 June 2020 is represented by:

£

Valuation in 2019

364,510

Cost

735,490

1,100,000

4.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2020

2019

£

£

Repayable by instalments

Bank loans - more than 5 years

293,724

314,832