WATERFORDS_(ESTATE_AGENTS - Accounts

WATERFORDS (ESTATE AGENTS) LIMITED - Company Information

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Company Registration No. 03089973 (England and Wales)

WATERFORDS (ESTATE AGENTS) LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2015

WATERFORDS (ESTATE AGENTS) LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 5

WATERFORDS (ESTATE AGENTS) LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

128,469

150,265

Investments

72,167

200,636

222,432

Current assets

Debtors

228,123

180,814

Cash at bank and in hand

850

32,916

228,973

213,730

Creditors: amounts falling due within one year

(360,491)

(347,430)

Net current liabilities

(131,518)

(133,700)

Total assets less current liabilities

69,118

88,732

Creditors: amounts falling due after more than one year

(3,104)

Provisions for liabilities

(20,283)

48,835

85,628

Capital and reserves

Called up share capital

42,144

Other reserves

3,647

Profit and loss account

3,044

39,837

Shareholders' funds

48,835

85,628

WATERFORDS (ESTATE AGENTS) LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 MARCH 2015

- 2 -

For the financial year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

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

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 12 August 2015

B P Cox

Director

Company Registration No. 03089973

WATERFORDS (ESTATE AGENTS) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for commission, rental income and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings leasehold property

equal instalments over the life of the lease

Plant and machinery

33.33% Straight line

Fixtures, fittings & equipment

20% Straight line

1.5

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.6

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.7

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.8

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

1.9

Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

1.10

Going concern

The nature of the company's business is such that it is dependent on the residential property market. The directors have prepared projections for the next twelve months and have put in place plans to meet these budgets and drive the company forward. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis.

WATERFORDS (ESTATE AGENTS) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2015

- 4 -

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 April 2014

548,548

72,167

620,715

Additions

18,033

Disposals

(78,500)

At 31 March 2015

488,081

72,167

560,248

Depreciation

At 1 April 2014

398,283

On disposals

(78,500)

Charge for the year

39,829

At 31 March 2015

359,612

Net book value

At 31 March 2015

128,469

72,167

200,636

At 31 March 2014

150,265

72,167

222,432

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Subsidiary undertakings

Waterfords Fleet Limited

England and Wales

Ordinary

100.00

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2015

Principal activity

Waterfords Fleet Limited

Dormant

50,341

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £16,627 (2014 - £36,384).

WATERFORDS (ESTATE AGENTS) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2015

- 5 -

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £0 (2014 - £3,104).

Share capital

2015

2014

Allotted, called up and fully paid

41,944 Ordinary 'A' shares of £1 each

41,944

200 Ordinary 'B' shares of £1 each

200

42,144

The 'B' Ordinary shares rank pari passu with the 'A' Ordinary shares save that on cessation of employment with the company, the holders of the 'B' Ordinary shares must return their shares to the company for a consideration not exceeding par value.

Control

The company is controlled by B P Cox, a director and majority shareholder.