WILLOWCOMBE LIMITED

WILLOWCOMBE LIMITED

WILLOWCOMBE LIMITED - Company Information

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WILLOWCOMBE LIMITED

Company Registration Number:
01215712 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2020

Period of accounts

Start date: 01 January 2020

End date: 31 December 2020

WILLOWCOMBE LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2020

Balance sheet
Notes

WILLOWCOMBE LIMITED

Balance sheet

As at 31 December 2020


Notes
2020
2019


£
£
Fixed assets
Tangible assets: 3 6,232,386 5,865,414
Total fixed assets: 6,232,386 5,865,414
Current assets
Debtors:   121,072 120,034
Cash at bank and in hand: 113,251 107,322
Total current assets: 234,323 227,356
Creditors: amounts falling due within one year:   (20,021) (21,287)
Net current assets (liabilities): 214,302 206,069
Total assets less current liabilities: 6,446,688 6,071,483
Creditors: amounts falling due after more than one year:   (253,750) (253,750)
Provision for liabilities: (640,015) (601,065)
Total net assets (liabilities): 5,552,923 5,216,668
Capital and reserves
Called up share capital: 12,009 12,009
Share premium account: 333,179 333,179
Other reserves: 400 400
Profit and loss account: 5,207,335 4,871,080
Shareholders funds: 5,552,923 5,216,668

The notes form part of these financial statements

WILLOWCOMBE LIMITED

Balance sheet statements

For the year ending 31 December 2020 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 07 July 2021
and signed on behalf of the board by:

Name: S Lupton
Status: Director

The notes form part of these financial statements

WILLOWCOMBE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2020

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

TurnoverTurnover is measured at the fair value of the consideration received or receivable for goods suppliedand services rendered, net of discounts and Value Added Tax.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership havetransferred to the buyer (usually on despatch of the goods); the amount of revenue can be measuredreliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurredor to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets and depreciation policy

Tangible assetsTangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulateddepreciation and impairment losses.Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluationless any subsequent accumulated depreciation and subsequent accumulated impairment losses.An increase in the carrying amount of an asset as a result of a revaluation, is recognised in othercomprehensive income and accumulated in capital and reserves, except to the extent it reverses arevaluation decrease of the same asset previously recognised in profit or loss. A decrease in thecarrying amount of an asset as a result of revaluation is recognised in other comprehensive income tothe extent of any previously recognised revaluation increase accumulated in capital and reserves inrespect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gainsaccumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit orloss.DepreciationDepreciation is calculated so as to write off the cost or valuation of an asset, less its residual value,over the useful economic life of that asset as follows:Freehold property - Not depreciatedPlant and machinery - 25% reducing balanceIf there is an indication that there has been a significant change in depreciation rate, useful life orresidual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.Investment propertyInvestment property is measured initially at cost, which includes purchase price and any directlyattributable expenditure. Investment property is revalued to its fair value at each reporting date and anychanges in fair value are recognised in profit or loss.

WILLOWCOMBE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2020

2. Employees

2020 2019
Average number of employees during the period 4 4

WILLOWCOMBE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2020

3. Tangible Assets

Total
Cost £
At 01 January 2020 5,873,637
Additions 4,436
Revaluations 365,000
At 31 December 2020 6,243,073
Depreciation
At 01 January 2020 8,223
Charge for year 2,464
At 31 December 2020 10,687
Net book value
At 31 December 2020 6,232,386
At 31 December 2019 5,865,414

WILLOWCOMBE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2020

4. Related party transactions

Name of the related party: Cherryoak Limited
Relationship:
Parent Company
Description of the Transaction: Management fees charged
£
Balance at 01 January 2020 18,874
Balance at 31 December 2020 12,980
Name of the related party: Thurland Limited
Relationship:
Group Company
Description of the Transaction: Management fees charged
£
Balance at 01 January 2020 11,040
Balance at 31 December 2020 11,040