Wise Owl Consultants Limited - Accounts

WISE OWL CONSULTANTS LIMITED - Company Information

Registered number

06497204

Wise Owl Consultants Limited

Report and Accounts

31 March 2014

Wise Owl Consultants Limited
Report and accounts
Contents




Page

Director's report	1
Statement of director's responsibilities	2
Independent auditors' report	3
Profit and loss account	4
Balance sheet	5
Notes to the accounts	6

Wise Owl Consultants Limited
Registered number:		06497204
Director's Report

The director presents his report and accounts for the year ended 31 March 2014.

Principal activities
The company's principal activity during the year continued to be that of property trading, investments and development via a Limited Liability Partnership.

Directors
The following persons served as directors during the year:

	M S Cooper

Disclosure of information to auditors

The director confirms that:
●	so far as he is aware, there is no relevant audit information of which the company's auditor is unaware; and
●	he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditor is aware of that information.


Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.

This report was approved by the board on 19 August 2015 and signed on its behalf.





M S Cooper
Director

Wise Owl Consultants Limited
Statement of Director's Responsibilities


The director is responsible for preparing the report and accounts in accordance with applicable law and regulations.

Company law requires the director to prepare accounts for each financial year. Under that law the director has elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these accounts, the director is required to:
●	select suitable accounting policies and then apply them consistently;
●	make judgements and estimates that are reasonable and prudent;
●	prepare the accounts on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the accounts comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Wise Owl Consultants Limited
Independent auditors' report
to the members of Wise Owl Consultants Limited

We have audited the accounts of Wise Owl Consultants Limited for the year ended 31 March 2014 which comprise the Profit and Loss Account, the Balance Sheet and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and the Financial Reporting Standard For Smaller Entities (effective January 2015) (United Kingdom Generally Accepted Accounting Practice applicable to Smaller Entities).
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Respective responsibilities of directors and auditors
As explained more fully in the Statement of Director's Responsibilities, the director is responsible for the preparation of the accounts and for being satisfied that they give a true and fair view. Our responsibility is to audit and express an opinion on the accounts in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board's (APB's) Ethical Standards for Auditors.
In accordance with the exemption provided by APB Ethical Standard - Provisions Available for Smaller Entities (Revised), we have prepared and submitted the company’s returns to the tax authorities and assisted with the preparation of the accounts.
Scope of the audit of the accounts
A description of the scope of an audit of financial statements is provided on the APB’s website at www.frc.org.uk/auditscopeukprivate

Opinion on the accounts
In our opinion the accounts:
●	give a true and fair view of the state of the company's affairs as at 31 March 2014 and of its loss for the year then ended;
●	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice applicable to Smaller Entities; and
●	have been prepared in accordance with the requirements of the Companies Act 2006.


Opinion on other matters prescribed by the Companies Act 2006
In our opinion the information given in the Directors' Report for the financial year for which the accounts are prepared is consistent with the accounts.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
●	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
●	the accounts are not in agreement with the accounting records and returns; or
●	certain disclosures of directors’ remuneration specified by law are not made; or
●	we have not received all the information and explanations we require for our audit; or
●	the directors were not entitled to prepare the accounts in accordance with the small companies regime and take advantage of the small companies’ exemption in preparing the directors’ report and take advantage of the small companies exemption from the requirement to prepare a strategic report.


A R Mitchell
(Senior Statutory Auditor)		109 Gloucester Place
for and on behalf of
Adams Mitchell		London
Accountants and Statutory Auditors
20 August 2015		W1U 6JW

Wise Owl Consultants Limited
Profit and Loss Account
for the year ended 31 March 2014


Notes		2014		2013
£			£


Administrative expenses		(2,274)		(1,124)

Operating loss	2	(2,274)		(1,124)

Interest payable	3	(89)		-

Loss on ordinary activities before taxation		(2,363)		(1,124)

Tax on loss on ordinary activities		-		-

Loss for the financial year		(2,363)		(1,124)

Wise Owl Consultants Limited
Balance Sheet
as at 31 March 2014

Notes			2014			2013
£				£
Fixed assets
Investments	4		1,232,606			1,232,606

Current assets
Cash at bank and in hand		100			100

Creditors: amounts falling due within one year	5	(1,241,093)			(1,238,730)

Net current liabilities			(1,240,993)			(1,238,630)

Net liabilities			(8,387)			(6,024)

Capital and reserves
Called up share capital	6		100			100
Profit and loss account	7		(8,487)			(6,124)

Shareholders' funds			(8,387)			(6,024)

The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.




M S Cooper
Director
Approved by the board on 19 August 2015

Wise Owl Consultants Limited
Notes to the Accounts
for the year ended 31 March 2014

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

	Deferred taxation
	Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

	Investments
	Investments held as fixed assets are shown at cost less any provision for impairment. Current asset investments are stated at the lower of cost and estimated net realisable value.


2	Operating profit					2014		2013
£							£
	This is stated after charging:

	Auditors' remuneration					1,000		1,000


3	Interest payable					2014		2013
£							£

	Interest payable					89		-


4	Investments

Other
investments
£
	Cost
	At 1 April 2013							1,232,606

	At 31 March 2014							1,232,606

	The company holds 20% or more of the share capital, or controlling interest of the following entities:

Capital and							Profit (loss)
	Company	Shares held				reserves	for the year
		Class		%	£		£
	58 Acacia Road Residential Developments LLP	N/A		N/A		11,763,896		181,091

	Other investments					2014		2013
£							£

	Unlisted investments					1,232,606		1,232,606



5	Creditors: amounts falling due within one year					2014		2013
£							£

	Amounts owed to group undertakings and undertakings in which the company has a participating interest					1,211,584		1,232,606
	Corporation tax					21,111		-
	Other creditors					8,398		6,124
						1,241,093		1,238,730


6	Share capital	Nominal		2014		2014		2013
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		100		100		100


7	Profit and loss account					2014
£

	At 1 April 2013					(6,124)
	Loss for the year					(2,363)

	At 31 March 2014					(8,487)


8	Related party transactions					2014		2013
£							£
	Amek Investments Limited
	Parent Company
	Included in the balance sheet at the year end was the following amount payable to the parent company. This balance has arisen as a result of various transactions between the companies.
	Amount due (to) the related party					(1,211,584)		(1,232,606)
	58 Acacia Road Residential Developments LLP
	Company is a designated member of the LLP
	Included in the balance sheet at the year end was the following amount payable to the LLP of which the company is a designated member . This balance has arisen as a result of various expenses being paid by the LLP on behalf of the company.
	Amount due (to) the related party					(5,748)		(4,374)


9	Ultimate controlling party

	The company considers its ultimate controlling party to be Amek Investments Limited, a company incorporated in England and Wales.


10	Going concern

	The accounts have been prepared on a going concern basis, however this may not be appropriate as at the balance sheet date the company had net liabilities of £8,387. However the director feels it is appropriate as included within other creditors is £1,211,584 due to the ultimate controlling party who have indicated that they will continue to support the company.