|
Registered number: 0252860
WOODFIELD ESTATES LIMITED
UNAUDITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 25 MARCH 2015
|
|
|
|
|
WOODFIELD ESTATES LIMITED
REGISTERED NUMBER: 0252860
|
ABBREVIATED BALANCE SHEET
AS AT 25 MARCH 2015
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CREDITORS: amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital redemption reserve
|
|
|
|
|
|
|
|
|
|
|
|
|
The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The abbreviated accounts, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf by:
................................................
F.M. Stafford Charles MA, FCA
|
................................................
J.A. Moore AssocRICS
|
|
|
|
|
|
|
|
|
|
Page 1
|
|
|
|
|
WOODFIELD ESTATES LIMITED
|
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 25 MARCH 2015
1.ACCOUNTING POLICIES
|
|
|
Basis of preparation of financial statements
|
|
|
|
The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with applicable accounting standards.
|
|
|
|
|
|
|
|
Turnover represents rents receivable net of VAT.
|
|
|
|
|
|
|
|
Investment properties are included in the Balance Sheet at their open market value in accordance with Statement of Standard Accounting Practice No.19 and are not depreciated. This treatment is contrary to the Companies Act 2006 which states that fixed assets should be depreciated but is, in the opinion of the directors, necessary in order to give a true and fair view of the financial position of the company. To quantify the depreciation that might otherwise have been charged would neither be practicable nor be of real value.
|
|
|
|
|
|
|
|
Investments held as fixed assets are shown at cost less provision for diminution in value. The share of the results of the associated company is shown in the notes to the financial statements.
|
|
|
|
|
|
|
|
Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.
|
|
|
|
No provision has been made for deferred tax on gains recognised on revaluing property to its open market value.
|
|
|
|
|
|
|
|
In accordance with the requirements of FRS 16, dividends are accounted for net of any tax credit.
|
|
|
|
|
|
|
|
Income from fixed asset investments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Page 2
|
|
|
|
|
WOODFIELD ESTATES LIMITED
|
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 25 MARCH 2015
|
|
|
|
|
|
|
First Ordinary interim paid
|
|
|
|
|
Second Ordinary interim paid
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4.INVESTMENT PROPERTY
|
|
|
|
|
|
|
|
|
|
Reversal of impairment charge
|
|
|
|
|
A valuation of the investment property was conducted by the directors of the Company on 25 March 2015. The valuation is based on open market value and excludes any selling costs that may be borne by the Company.
The asset held as an investment has a historical cost of £336,803.
5.FIXED ASSET INVESTMENTS
|
|
|
|
|
|
|
At 26 March 2014 and 25 March 2015
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Participating interests
The Company holds more than 20% of the share capital of the following companies:
Associates
|
|
|
Capel House Property Trust Limited
|
|
|
|
Page 3
|
|
|
|
|
WOODFIELD ESTATES LIMITED
|
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 25 MARCH 2015
5.FIXED ASSET INVESTMENTS (continued)
Associates
|
|
|
|
|
Aggregate of share capital and reserves
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capel House Property Trust Limited
|
|
|
|
The Company holds 525,372 (2014: 525,372) Ordinary shares of £0.10p each in Capel House Property Trust Limited.
6.SHARE CAPITAL
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allotted, called up and fully paid
|
|
|
|
|
|
|
|
|
|
|
|
6,557 Ordinary shares of £1 each
|
|
|
Page 4
|
