Wingreen Limited - Limited company - abbreviated - 11.6
Wingreen Limited - Limited company - abbreviated - 11.6
REGISTERED NUMBER: |
ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 28 FEBRUARY 2015 |
FOR |
WINGREEN LIMITED |
WINGREEN LIMITED (REGISTERED NUMBER: 02684371) |
CONTENTS OF THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 28 FEBRUARY 2015 |
Page |
Company Information | 1 |
Chartered Accountants' Report | 2 |
Abbreviated Balance Sheet | 3 |
Notes to the Abbreviated Accounts | 4 |
WINGREEN LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 28 FEBRUARY 2015 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
WINGREEN LIMITED |
The following reproduces the text of the report prepared for the directors in respect of the company's annual |
unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages three to six) |
have been prepared. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Wingreen Limited for the year ended 28 February 2015 which comprise the Profit and Loss |
Account, the Balance Sheet and the related notes from the company's accounting records and from information and |
explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook. |
This report is made solely to the Board of Directors of Wingreen Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Wingreen Limited and state those matters that we have agreed to state to the Board of Directors of Wingreen Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Wingreen Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Wingreen Limited. You consider that Wingreen Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Wingreen Limited. For this |
reason, we have not verified the accuracy or completeness of the accounting records or information and explanations |
you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants |
20 July 2015 |
WINGREEN LIMITED (REGISTERED NUMBER: 02684371) |
ABBREVIATED BALANCE SHEET |
28 FEBRUARY 2015 |
2015 | 2014 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
Investments | 3 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 4 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) | ( |
) |
CREDITORS |
Amounts falling due after more than one year |
4 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 5 |
Revaluation reserve |
Profit and loss account | ( |
) | ( |
) |
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. |
The financial statements were approved by the Board of Directors on |
WINGREEN LIMITED (REGISTERED NUMBER: 02684371) |
NOTES TO THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 28 FEBRUARY 2015 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been drawn up on the going concern basis which assumes that the existing |
credit facilities will continue to be made available to the company. The directors consider it appropriate to |
prepare the financial statements on the going concern basis. |
Accounting convention |
The financial statements have been prepared under the historical cost convention as modified by the revaluation |
of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April |
2008). |
Turnover |
Turnover relates to the company's share of profits in it's joint property investment and joint venture in a trading |
property. |
Tangible fixed assets |
Furniture | - |
Equipment | - |
In compliance with the requirements of SSAP 19, no depreciation is provided in respect of the freehold and |
leasehold investment properties. The application of the standard represents a departure from the Companies |
Act 2006 for the overriding purpose of giving a true and fair view. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no |
commitment to sell the asset. |
2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST OR VALUATION |
At 1 March 2014 |
Additions |
At 28 February 2015 |
DEPRECIATION |
At 1 March 2014 |
Charge for year |
At 28 February 2015 |
NET BOOK VALUE |
At 28 February 2015 |
At 28 February 2014 |
WINGREEN LIMITED (REGISTERED NUMBER: 02684371) |
NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2015 |
3. | FIXED ASSET INVESTMENTS |
Investments |
other |
than |
loans |
£ |
COST |
At 1 March 2014 |
and 28 February 2015 | 15,000 |
NET BOOK VALUE |
At 28 February 2015 |
At 28 February 2014 |
Investments (neither listed nor unlisted) were as follows: |
2015 | 2014 |
£ | £ |
Investment in joint venture | 582,169 | 523,709 |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Associated company |
Nature of business: |
% |
Class of shares: | holding |
Ordinary shares of £1 each | 33.33 |
2015 | 28.2.14 |
£ | £ |
Aggregate capital and reserves | - | 37,400 |
Loss for the year | - | (7,168,034 | ) |
The investment in joint venture represents a 50% share in an investment property. |
The results of the investment for the financial years are as follows: |
2015 | 2014 |
£ | £ |
Rent receivable | 158,000 | 158,000 |
Profit for the year | 136,920 | 133,522 |
Fixed assets | 1,705,486 | 1,705,486 |
Current assets | 41,209 | 7,185 |
Liabilities: payable within one year | (97,949) | (98,415) |
Liabilities: payable after more than one year | (484,411 | ) | (566,841 | ) |
4. | CREDITORS |
Creditors include an amount of £ |
5. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2015 | 2014 |
value: | £ | £ |
Ordinary Shares | £1 |
6. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
Included within creditors are loans from the directors, Richard Murad of £1,347,100 (2014 £1,347,100 ), Jane |
Murad of £244,900 (2014 £244,900), Steven Murad of £285,670 (2014 £285,670) and Robert Murad of |
£285,670 (2014 £285,670). |
WINGREEN LIMITED (REGISTERED NUMBER: 02684371) |
NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2015 |
7. | RELATED PARTY DISCLOSURES |
The bank loan of £555,611(2014 £638,041) referred to in note 13 is held jointly with Darum Properties Limited |
which is controlled by D Murad, the brother of R Murad. |
Included within other creditors are loans amounting to £1,975,000 (2014 £1,975,000) due to The Richard Murad |
2005 Family Trust. Loan interest amounting to £nil (2014 £48,939) has been charged by the Trust to Wingreen |
Limited during the period. |
Included within other creditors is an interest free loan due to the shareholder, Jennifer Murad amounting to |
£285,670 (2014 £285,670). |
During the year management fee of £40,000 (2014 £nil) was charged to the company by Landmark Properties |
(UK) Limited, a company in which the director, R N Murad is a shareholder. |
Included within other debtors is £40,000 (2013 £65,000) due from Landmark Developments (UK) Limited, a |
company in which Wingreen Limited is a shareholder. |