Welsh Highland Railway Construction Ltd - Accounts to registrar (filleted) - small 18.2
Welsh Highland Railway Construction Ltd - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
FOR |
WELSH HIGHLAND RAILWAY CONSTRUCTION |
LIMITED |
WELSH HIGHLAND RAILWAY CONSTRUCTION |
LIMITED (REGISTERED NUMBER: 05221614) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
WELSH HIGHLAND RAILWAY CONSTRUCTION |
LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Certified Accountants |
Statutory Auditors |
13 Trinity Square |
Llandudno |
United Kingdom |
CONWY |
LL30 2RB |
WELSH HIGHLAND RAILWAY CONSTRUCTION |
LIMITED (REGISTERED NUMBER: 05221614) |
BALANCE SHEET |
31 DECEMBER 2020 |
2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
WELSH HIGHLAND RAILWAY CONSTRUCTION |
LIMITED (REGISTERED NUMBER: 05221614) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
1. | STATUTORY INFORMATION |
Welsh Highland Railway Construction Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
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. |
Capitalisation |
All costs relating to the railway construction project are capitalised. This includes associated overheads and payroll costs. |
Capital contributions |
These are grants received for the building of the railway from Rhyd Ddu to Porthmadog and are shown as deferred income. They are released to the profit and loss account over the expected useful lives of the relevant assets. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2019 - NIL). |
WELSH HIGHLAND RAILWAY CONSTRUCTION |
LIMITED (REGISTERED NUMBER: 05221614) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 January 2020 |
and 31 December 2020 |
DEPRECIATION |
At 1 January 2020 |
Charge for year |
At 31 December 2020 |
NET BOOK VALUE |
At 31 December 2020 |
At 31 December 2019 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2020 | 2019 |
£ | £ |
Other creditors |
8. | SECURED DEBTS |
Natwest Bank hold a Debenture dated 6 June 2007 - All assets of the company are held as security formally charged to the Bank. |
WELSH HIGHLAND RAILWAY CONSTRUCTION |
LIMITED (REGISTERED NUMBER: 05221614) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
10. | CONTINGENT LIABILITIES |
Residual claims amounting to £164,000, relating to the construction of Phase 4 of the Welsh Highland Railway, have been received from contractors. The company disputes these claims and is of the view that nothing further is payable in respect of those contracts. At the present time it is not possible to quantify the eventual outcome of these claims. |
11. | RELATED PARTY DISCLOSURES |
The company owed £95 (2019 - £95) to Ffestiniog Futures Limited as at 31 December 2020 |
The company was also owed £46,744 (2019 - £48,488) by Ffestiniog Railway Company as at 31 December 2020 |