Vestwater Ltd - Accounts to registrar (filleted) - small 18.2
Vestwater Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Period 1 July 2019 to 31 December 2020 |
| for |
| Vestwater Ltd |
| Vestwater Ltd (Registered number: 08127339) |
| Contents of the Financial Statements |
| for the Period 1 July 2019 to 31 December 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Vestwater Ltd |
| Company Information |
| for the Period 1 July 2019 to 31 December 2020 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Sterling House |
| 1 Sheepscar Court |
| Meanwood Road |
| Leeds |
| West Yorkshire |
| LS7 2BB |
| BANKERS: |
| PO Box 959 |
| 96 Brighton Road |
| Coulsdon |
| Surrey |
| CR5 2YS |
| Vestwater Ltd (Registered number: 08127339) |
| Balance Sheet |
| 31 December 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investments | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 12 |
| 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. |
| Vestwater Ltd (Registered number: 08127339) |
| Balance Sheet - continued |
| 31 December 2020 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Vestwater Ltd (Registered number: 08127339) |
| Notes to the Financial Statements |
| for the Period 1 July 2019 to 31 December 2020 |
| 1. | STATUTORY INFORMATION |
| Vestwater Ltd is a |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover comprises revenue recognised by the company in respect of rent receivable during the year, exclusive of Value Added Tax. |
| Investment property |
| Investment properties are included in the balance sheet at their open market value in accordance with Section 1A of FRS 102 and are not depreciated. This treatment is contrary to the Companies Act 2006 which states that fixed assets should be depreciated but is, in the opinion of the directors, necessary to give a true and fair view of the financial position of the company. |
| Financial instruments |
| The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
| Current and deferred taxation |
| The tax expense for the year comprises current and deferred tax. Tax is recognised in the statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. |
| The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. |
| Finance costs |
| Finance costs are charged to the statement of income and retained earnings over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument. |
| Borrowing costs |
| All borrowing costs are recognised in the statement of income and retained earnings in the year in which they are incurred. |
| Vestwater Ltd (Registered number: 08127339) |
| Notes to the Financial Statements - continued |
| for the Period 1 July 2019 to 31 December 2020 |
| 3. | ACCOUNTING POLICIES - continued |
| Investments |
| Investments held as fixed assets are shown at cost less provision for impairment. |
| Debtors |
| Short term debtors are measured at transaction price, less any impairment. |
| Cash and cash equivalents |
| Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. |
| Creditors |
| Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
| Provisions for liabilities |
| Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. |
| Provisions are charged as an expense to the statement of income and retained earnings in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. |
| When payments are eventually made, they are charged to the provision carried in the balance sheet. |
| Dividends |
| Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was |
| 5. | FIXED ASSET INVESTMENTS |
| Investments (neither listed nor unlisted) were as follows: |
| 2020 | 2019 |
| £ | £ |
| Other | 196,007 | 383,504 |
| 6. | INVESTMENT PROPERTY |
| The 2020 valuations were made by the directors, on an open market value basis. |
| Vestwater Ltd (Registered number: 08127339) |
| Notes to the Financial Statements - continued |
| for the Period 1 July 2019 to 31 December 2020 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans and overdrafts (see note 10) |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| Included within creditors falling due within one year are amounts of £54,991 (2019 £54,991) secured by the company in respect of bank loans. |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans (see note 10) |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 128,603 | 191,338 |
| Included within creditors falling due in over one year are amounts of £348,567 (2019: £411,302) secured by the company in respect of bank loans. |
| 10. | LOANS |
| An analysis of the maturity of loans is given below: |
| 2020 | 2019 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank loans |
| Amounts falling due between one and two years: |
| Bank loans - 1-2 years |
| Amounts falling due between two and five years: |
| Bank loans - 2-5 years |
| Amounts falling due in more than five years: |
| Vestwater Ltd (Registered number: 08127339) |
| Notes to the Financial Statements - continued |
| for the Period 1 July 2019 to 31 December 2020 |
| 10. | LOANS - continued |
| 2020 | 2019 |
| £ | £ |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 128,603 | 191,338 |
| 11. | PROVISIONS FOR LIABILITIES |
| 2020 | 2019 |
| £ | £ |
| Deferred tax | 19,307 | 19,307 |
| Deferred |
| tax |
| £ |
| Balance at 1 July 2019 |
| Balance at 31 December 2020 |
| 12. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2020 | 2019 |
| value: | £ | £ |
| Ordinary | 1 | 104 | 104 |
| 13. | RELATED PARTY DISCLOSURES |
| Included within creditors is a balance of £443,163 (2019: £556,205) owed to a company in which Vestwater Limited has a participating interest. |
| No further transactions with related parties were undertaken such as are required to be disclosed under Section 1A of FRS 102. |