W & A Property Developments Limited - Accounts to registrar (filleted) - small 18.2

W & A Property Developments Limited - Accounts to registrar (filleted) - small 18.2

W & A PROPERTY DEVELOPMENTS LIMITED - Company Information

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REGISTERED NUMBER: NI053590 (Northern Ireland)















W & A PROPERTY DEVELOPMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021





CavanaghKelly
Chartered Accountants
36-38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP








W & A PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: NI053590)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2021




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


W & A PROPERTY DEVELOPMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2021







DIRECTORS: Alastair Hayes
William Hayes





REGISTERED OFFICE: 146 Pomeroy Road
Pomeroy
Dungannon
Co. Tyrone
BT70 2TY





REGISTERED NUMBER: NI053590 (Northern Ireland)





ACCOUNTANTS: CavanaghKelly
Chartered Accountants
36-38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP
1
W & A PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: NI053590)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2021

2021 2020
Notes £ £
NON-CURRENT ASSETS
Investment property 5 725,000 725,000

CURRENT ASSETS
Inventories 2,774,294 2,755,000
Receivables: amounts falling due within
one year
6
2,805
2,665
Cash at bank 20,994 7,775
2,798,093 2,765,440
PAYABLES
Amounts falling due within one year 7 (3,380,979 ) (3,353,696 )
NET CURRENT LIABILITIES (582,886 ) (588,256 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
142,114
136,744

PAYABLES
Amounts falling due after more than
one year
8
(161,436
)
(165,519
)
NET LIABILITIES (19,322 ) (28,775 )

CAPITAL AND RESERVES
Called up share capital 2 2
Other reserves 270,000 270,000
Retained earnings (289,324 ) (298,777 )
(19,322 ) (28,775 )

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2021.

The members have not required the Company to obtain an audit of its financial statements for the year ended 30 April 2021 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 notes form part of these financial statements

2
W & A PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: NI053590)

STATEMENT OF FINANCIAL POSITION - continued
30 APRIL 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 29 October 2021 and were signed on its behalf by:




Alastair Hayes - Director



William Hayes - Director


The notes form part of these financial statements

3
W & A PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: NI053590)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2021

1. STATUTORY INFORMATION

W & A Property Developments Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The accounts are prepared under the historical cost convention modified when necessary to include the revaluation of certain fixed assets.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Inventories
Stocks are valued at the lower of cost and net realisable value. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.

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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Cash flow statement
The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

Exceptional item
Exceptional items are disclosed separately in the financial statements where it is necessary to do so to provide further understanding of the financial performance of the company. They are items
that are material either because of their size or their nature or that are nonrecurring. They are considered as exceptional items and are presented within the line items to which they best relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4
W & A PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: NI053590)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2021

5. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 May 2020
and 30 April 2021 725,000
NET BOOK VALUE
At 30 April 2021 725,000
At 30 April 2020 725,000

Fair value at 30 April 2021 is represented by:
£
Valuation in 2019 455,000
Valuation in 2020 270,000
725,000

6. RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£ £
Other receivables 2,805 2,665

7. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£ £
Bank loans and overdrafts (see note 9) 106,603 78,923
Trade payables - 613
Amounts owed to group undertakings 2,060,815 1,949,272
Taxation and social security 2,217 2,368
Other payables 1,211,344 1,322,520
3,380,979 3,353,696

8. PAYABLES: AMOUNTS FALLING DUE AFTER ONE YEAR
2021 2020
£ £
Bank loans (see note 9) 161,436 165,519

9. LOANS

An analysis of the maturity of loans is given below:

2021 2020
£ £
Amounts falling due within one year or on demand:
Bank loans 106,603 78,923

Amounts falling due between one and two years:
Bank loans - 1-2 years 161,436 165,519

The bank loans and overdraft have been secured by the company.

5
W & A PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: NI053590)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2021

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end an amount of £1,206,328 (2020: £1,320,000) was owing to the directors.

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

6