Waverley Property Developments Ltd - Accounts to registrar (filleted) - small 18.2
Waverley Property Developments Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 August 2021 |
| for |
| Waverley Property Developments Ltd |
| Waverley Property Developments Ltd (Registered number: 12181433) |
| Contents of the Financial Statements |
| for the Year Ended 31 August 2021 |
| Page |
| Company Information | 1 |
| Abridged Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Waverley Property Developments Ltd |
| Company Information |
| for the Year Ended 31 August 2021 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Windsor House |
| Cornwall Road |
| Harrogate |
| HG1 2PW |
| Waverley Property Developments Ltd (Registered number: 12181433) |
| Abridged Balance Sheet |
| 31 August 2021 |
| 31.8.21 | 31.8.20 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 5 |
| 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. |
| 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 |
| Waverley Property Developments Ltd (Registered number: 12181433) |
| Notes to the Financial Statements |
| for the Year Ended 31 August 2021 |
| 1. | STATUTORY INFORMATION |
| Waverley Property Developments Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Stocks |
| Work in progress is valued at the lower of cost and net realisable value. |
| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | LOANS |
| An analysis of the maturity of loans is given below: |
| 31.8.21 | 31.8.20 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Other loans |
| Waverley Property Developments Ltd (Registered number: 12181433) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2021 |
| 4. | LOANS - continued |
| A loan facility of £328,158 was taken from Octopus Real Estate on 20 September 2019. As at the 31 August 2021 the loan was repaid in full. |
| 5. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.8.21 | 31.8.20 |
| value: | £ | £ |
| Ordinary shares | £0.01 | 1 | 1 |
| 6. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the year ended 31 August 2021 and the period ended 31 August 2020: |
| 31.8.21 | 31.8.20 |
| £ | £ |
| Balance outstanding at start of year | ( |
) |
| Amounts advanced | ( |
) | ( |
) |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) | ( |
) |
| The director loan of £198,339 is money advanced to the Company by the Director as at 31 August 2021. The loan is unsecured and interest free. The loan is repayable on demand. |
| 7. | RELATED PARTY DISCLOSURES |
| The director loan of £198,339 is money advanced to the Company by the Director as at 31 August 2021. The loan is unsecured and interest free. The loan is repayable on demand. |
| The Company incurred direct costs of £94,318 from House Works (Yorkshire) Limited, a company connected by way of common directors. |
| A loan of £10,000 was made to House Works (Yorkshire) Ltimited, a company connected by common directors. The loan is repayable on demand. The loan is unsecured. |
| 8. | ULTIMATE CONTROLLING PARTY |
| The directors are the ultimate controlling party by virtue of their shareholding. |