The Wildwood Country Club Limited - Accounts to registrar (filleted) - small 18.2
The Wildwood Country Club Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020 |
| FOR |
| THE WILDWOOD COUNTRY CLUB LIMITED |
| THE WILDWOOD COUNTRY CLUB LIMITED (REGISTERED NUMBER: 03806231) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| THE WILDWOOD COUNTRY CLUB LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 105 Eade Road |
| OCC Building A |
| 2nd Floor, Unit 11A |
| London |
| N4 1TJ |
| THE WILDWOOD COUNTRY CLUB LIMITED (REGISTERED NUMBER: 03806231) |
| BALANCE SHEET |
| 31 MARCH 2020 |
| 2020 | 2019 |
| As restated |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CREDITORS |
| Amounts falling due within one year | 5 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve | 6 |
| Retained earnings | 6 | ( |
) | ( |
) |
| ( |
) |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| THE WILDWOOD COUNTRY CLUB LIMITED (REGISTERED NUMBER: 03806231) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| 1. | STATUTORY INFORMATION |
| The Wildwood Country Club Limited is a |
| company's registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Judgements and key sources of estimation uncertainty |
| In the application of the Company's accounting policies, the director is required to make judgments, estimates and assumptions |
| about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and |
| associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results |
| may differ from these estimates. |
| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised |
| in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future |
| periods if the revision affects both current and future periods. |
| The director does not consider there are any critical judgments or sources of estimation uncertainty requiring disclosure beyond |
| the accounting policies listed below. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| THE WILDWOOD COUNTRY CLUB LIMITED (REGISTERED NUMBER: 03806231) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either |
| financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest |
| in the assets of the entity after deducting all of its liabilities. |
| Basic financial instruments |
| Trade and other debtors |
| Trade and other debtors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial |
| recognition, trade and other debtors that are classified as receivable within one year are measured at the undiscounted amount |
| of the cash or other consideration expected to be received net of impairment. If the arrangement constitutes a financial |
| transaction, for example, if payment is deferred beyond normal business terms, then they are measured at the present value of |
| the future payments discounted at a market rate for a similar debt instrument. |
| Trade and other creditors |
| Trade and other creditors are recognised initially at transaction price less attributable transaction costs. Subsequent to initial |
| recognition trade and other creditors that are classified as payable within one year are measured at the undiscounted amount of |
| the cash or the other consideration expected to be paid. If the arrangement constitutes a financial transaction, for example, if |
| payment is deferred beyond normal business terms, then they are measured at the present value of the future payments |
| discounted at a market rate for a similar debt instrument. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2019 - NIL). |
| THE WILDWOOD COUNTRY CLUB LIMITED (REGISTERED NUMBER: 03806231) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | Plant and | and |
| property | machinery | fittings | Totals |
| £ | £ | £ | £ |
| COST OR VALUATION |
| At 1 April 2019 |
| Revaluations | ( |
) | ( |
) |
| At 31 March 2020 |
| DEPRECIATION |
| At 1 April 2019 |
| Charge for year |
| At 31 March 2020 |
| NET BOOK VALUE |
| At 31 March 2020 |
| At 31 March 2019 |
| The historical cost of the company's Freehold Property is £3,478,594 (2019: £3,478,594). |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| As restated |
| £ | £ |
| Bank loans and overdrafts |
| Other creditors |
| 6. | RESERVES |
| Retained | Revaluation |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 April 2019 | ( |
) | (3,173,315 | ) |
| Deficit for the year | ( |
) | ( |
) |
| Revaluation in the year | ( |
) | ( |
) |
| At 31 March 2020 | ( |
) | (5,410,059 | ) |
| THE WILDWOOD COUNTRY CLUB LIMITED (REGISTERED NUMBER: 03806231) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| 7. | PRIOR PERIOD ADJUSTMENT |
| A prior period adjustment arises to record transactions in the correct period. The adjustments to the financial statements to |
| reflect the changes are set out below. |
| At 1 April 2018 | At 31 March 2019 |
| As previously stated |
Effect of prior period adjustment |
As restated |
As previously stated |
Effect of prior period adjustment |
As restated |
| £ | £ | £ | £ | £ | £ |
| Fixed assets | 4,920,657 | (2,269 | ) | 4,918,388 | 11,096,481 | (1,702 | ) | 11,094,779 |
| Current assets |
27,449 |
(27,449 |
) |
- |
230,579 |
(230,579 |
) |
- |
| Creditors: amounts |
| falling due within one year |
(9,212,651 |
) |
(123,022 |
) |
(9,335,673 |
) |
(10,287,452 |
) |
(430,642 |
) |
(10,718,094 |
) |
| Net current liabilities |
(9,185,202 |
) |
(150,471 |
) |
(9,335,673 |
) |
(10,056,873 |
) |
(661,221 |
) |
(10,718,094 |
) |
| Total assets less current liabilities |
(4,264,545 |
) |
(152,740 |
) |
(4,417,285 |
) |
1,039,608 |
(662,923 |
) |
376,685 |
| Provisions | - | - | - | (900,000 | ) | 900,000 | - |
| Net assets | (4,264,545 | ) | (152,740 | ) | (4,417,285 | ) | 139,608 | 237,077 | 376,685 |
| Capital and reserves |
(4,264,545 |
) |
(152,740 |
) |
(4,417,285 |
) |
139,608 |
237,077 |
376,685 |