Wealden Properties (Sevenoaks) Limited - Accounts to registrar (filleted) - small 18.2
Wealden Properties (Sevenoaks) Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 May 2021 |
for |
Wealden Properties (Sevenoaks) Limited |
Wealden Properties (Sevenoaks) Limited (Registered number: 10553155) |
Contents of the Financial Statements |
for the year ended 31 May 2021 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Wealden Properties (Sevenoaks) Limited |
Company Information |
for the year ended 31 May 2021 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Stanley House |
49 Dartford Road |
Sevenoaks |
Kent |
TN13 3TE |
Wealden Properties (Sevenoaks) Limited (Registered number: 10553155) |
Statement of Financial Position |
31 May 2021 |
2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Fair value reserve | 11 | ( |
) | ( |
) |
Retained earnings |
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. |
Wealden Properties (Sevenoaks) Limited (Registered number: 10553155) |
Statement of Financial Position - continued |
31 May 2021 |
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 |
Wealden Properties (Sevenoaks) Limited (Registered number: 10553155) |
Notes to the Financial Statements |
for the year ended 31 May 2021 |
1. | STATUTORY INFORMATION |
Wealden Properties (Sevenoaks) Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is initially recognised in the Income Statement. |
As this 'surplus' is not distributable to the shareholders, the surplus or deficit, net of the deferred tax provision relating to the revaluation, is transferred to the Fair Value Reserve. |
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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
Wealden Properties (Sevenoaks) Limited (Registered number: 10553155) |
Notes to the Financial Statements - continued |
for the year ended 31 May 2021 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 June 2020 |
and 31 May 2021 |
DEPRECIATION |
At 1 June 2020 |
Charge for year |
At 31 May 2021 |
NET BOOK VALUE |
At 31 May 2021 |
At 31 May 2020 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 June 2020 |
and 31 May 2021 |
NET BOOK VALUE |
At 31 May 2021 |
At 31 May 2020 |
Fair value at 31 May 2021 is represented by: |
£ |
Valuation in 2019 | 60,000 |
Valuation in 2020 | (163,016 | ) |
Cost | 11,018,016 |
10,915,000 |
Wealden Properties (Sevenoaks) Limited (Registered number: 10553155) |
Notes to the Financial Statements - continued |
for the year ended 31 May 2021 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2021 | 2020 |
£ | £ |
Bank loans |
Lloyds Bank plc hold a first legal charge over the fixed asset freehold investment properties of the company, and an unlimited debenture. |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
Ordinary | £1 | 7,391,667 | 7,391,667 |
Wealden Properties (Sevenoaks) Limited (Registered number: 10553155) |
Notes to the Financial Statements - continued |
for the year ended 31 May 2021 |
11. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 June 2020 |
and 31 May 2021 | ( |
) |
12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 31 May 2021 and 31 May 2020: |
2021 | 2020 |
£ | £ |
Balance outstanding at start of year | ( |
) | ( |
) |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) | ( |
) |
Balance outstanding at start of year | ( |
) | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) | ( |
) |
13. | ULTIMATE CONTROLLING PARTY |
The controlling party is W J Terry. |
The ultimate controlling party is |