Walmer Place Estate Company Limited - Accounts to registrar (filleted) - small 18.2

Walmer Place Estate Company Limited - Accounts to registrar (filleted) - small 18.2

WALMER PLACE ESTATE COMPANY LIMITED - Company Information

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REGISTERED NUMBER: 02166501 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2020

FOR

WALMER PLACE ESTATE COMPANY LIMITED
WALMER PLACE ESTATE COMPANY LIMITED (REGISTERED NUMBER: 02166501)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2020




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Report of the Accountants 5

WALMER PLACE ESTATE COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2020







DIRECTORS: Mrs A F Soper
Dr G Williams
Mrs M Selwyn
Mr R Lewis
Mrs K Blackburn
P Willoughby
Mrs M H Cameron
P V Cleary
Ms M Borland
Mrs C S Holt





SECRETARY: Higson Property Management Limited





REGISTERED OFFICE: 45 Queen Street
Deal
Kent
CT14 6EY





REGISTERED NUMBER: 02166501 (England and Wales)





ACCOUNTANTS: Higson APS Limited
45 Queen Street
Deal
Kent
CT14 6EY
Page 1
WALMER PLACE ESTATE COMPANY LIMITED (REGISTERED NUMBER: 02166501)

BALANCE SHEET
30 JUNE 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,140 16,140

CURRENT ASSETS
Debtors 5 - 158
Cash at bank 2,792 74
2,792 232
CREDITORS
Amounts falling due within one year 6 4,200 1,706
NET CURRENT LIABILITIES (1,408 ) (1,474 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
14,732
14,666

CAPITAL AND RESERVES
Called up share capital 126 126
Share premium 24,231 24,231
Retained earnings (9,625 ) (9,691 )
SHAREHOLDERS' FUNDS 14,732 14,666

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.

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 4 March 2021 and were signed on its behalf by:





Mrs M Selwyn - Director


The notes form part of these financial statements

Page 2
WALMER PLACE ESTATE COMPANY LIMITED (REGISTERED NUMBER: 02166501)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2020

1. STATUTORY INFORMATION

Walmer Place Estate Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The financial statements are presented in round pounds £ sterling.

2. 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.

Turnover
Turnover represents ground rent receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - not provided

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.

Freehold investment property
The company holds the reversionary interest in the property that comprises Walmer Place, Walmer, Deal, Kent together with the buildings erected thereon. The reversionary interest in the freehold has not been depreciated in the accounts in accordance with the Companies Act 2006, for the overriding purpose of giving a true and fair view, as in the opinion of the Directors, the reversionary interest has not suffered any impairment in value. If the interest was to be depreciated over 50 years, in common with other freehold property, a depreciation charge of £323 per annum would be charged to the profit and loss account.

3. EMPLOYEES AND DIRECTORS

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

Page 3 continued...
WALMER PLACE ESTATE COMPANY LIMITED (REGISTERED NUMBER: 02166501)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2020

4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST
At 1 July 2019
and 30 June 2020 16,140
NET BOOK VALUE
At 30 June 2020 16,140
At 30 June 2019 16,140

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Debtors & prepayments - 158

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Deferred income 55 235
Accrued expenses 4,145 1,471
4,200 1,706

7. INVESTMENT

The Company owned 225 HBOS Ordinary shares which were received free of charge when the building society was floated on the stock exchange. This was converted into 142 shares in Lloyds Banking Group plc when the banks merged. The market value of this shareholding at 30 June 2020 was £44 (2019 - £81).

Page 4
WALMER PLACE ESTATE COMPANY LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
WALMER PLACE ESTATE COMPANY LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 June 2020 set out on pages one to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Higson APS Limited
45 Queen Street
Deal
Kent
CT14 6EY


4 March 2021

This page does not form part of the statutory financial statements

Page 5