Weston Brothers (Holdings) Limited - Limited company - abbreviated

WESTON BROTHERS (HOLDINGS) LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

6

DIRECTORS:

M F J Weston

Mrs A Weston

Miss Z A Thomas

Miss L J Lea-Weston

SECRETARY:

M F J Weston

REGISTERED OFFICE:

6A Upper Grove

Margate

Kent

CT9 1QT

REGISTERED NUMBER:

01457212

ACCOUNTANTS:

Lakin Clark Limited

Delandale House

37 Old Dover Road

Canterbury

Kent

CT1 3JF

FIXED ASSETS

Tangible assets

2

4,455

25,664

Investments

3

481,553

Investment property

4

1,950,000

1,955,500

2,436,008

2,462,717

CURRENT ASSETS

Debtors

11,000

15,753

Investments

7,074

4,035

Cash at bank

313,455

240,619

331,529

260,407

CREDITORS

Amounts falling due within one year

6,713

10,233

NET CURRENT ASSETS

324,816

250,174

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,760,824

2,712,891

PROVISIONS FOR LIABILITIES

-

5,133

NET ASSETS

2,760,824

2,707,758

CAPITAL AND RESERVES

Called up share capital

5

87,265

Share premium

8,862

Revaluation reserve

1,095,904

1,101,404

Profit and loss account

1,568,793

1,510,227

SHAREHOLDERS' FUNDS

2,760,824

2,707,758

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 14 September 2015 and were signed on its behalf by:

M F J Weston - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The accounts are prepared in recognition of the company's status as an investment company with effect from 1st April

2003.

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation of

certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

The turnover shown in the profit and loss account represents the value of rents receivable in the year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings

-

10% on cost

Computer equipment

-

25% on cost

Investments

Investments are carried at the lower of cost or net realisable value.

Investment property

Compliance with the FRSSE, p5.37 is a departure from the Companies Act 2006 necessary to give a true and fair view.

No depreciation is charged on these properties in view of them treated as investment properties.

Individual investment properties are revalued annually by the directors with the surplus or deficit on book value being

transferred to revaluation reserve unless a deficit is expected to be permanent in which case it is charged to the profit

and loss account.

Deferred tax

Provision is made in full for all taxation deferred in respect of timing differences that have originated but not reversed

by the balance sheet date except for timing differences arising on revaluations of fixed assets which are not intended to

be sold and gains on disposals of fixed assets which will be rolled over into replacement assets. No provision is made

for taxation on permanent differences. Deferred tax assets are recognised to the extent that it is more likely than not that

they will be recovered. Deferred tax is measured using the rate of tax that is expected to apply in the periods in which

the timing differences are expected to reverse.

Provisions

Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance

sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions

are calculated on a discounted basis.

Financial instruments

Financial instruments are classified, and accounted for, according to the substance of the contractual arrangement, as

financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual

interest in the assets of the company after deducting all of its liabilities.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

46,621

Additions

1,203

Disposals

(38,169

)

At 31 March 2015

9,655

DEPRECIATION

At 1 April 2014

20,957

Charge for year

942

Eliminated on disposal

(16,699

)

At 31 March 2015

5,200

NET BOOK VALUE

At 31 March 2015

4,455

At 31 March 2014

25,664

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 April 2014

and 31 March 2015

481,553

NET BOOK VALUE

At 31 March 2015

481,553

At 31 March 2014

481,553

4.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 April 2014

1,955,500

Revaluations

(5,500

)

At 31 March 2015

1,950,000

NET BOOK VALUE

At 31 March 2015

1,950,000

At 31 March 2014

1,955,500

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

87,265

Ordinary

£1

87,265

Weston Brothers (Holdings) Limited - Limited company - abbreviated - 11.6

Weston Brothers (Holdings) Limited - Limited company - abbreviated - 11.6