ACCOUNTS - Final Accounts preparation

FIXED ASSETS

Investment property

Investments

VESTWATER LTD - Company Information

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Registered number: 08127339

VESTWATER LIMITED

UNAUDITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2015

HAINES WATTS LEEDS LLP

CHARTERED ACCOUNTANTS

VESTWATER LIMITED

REGISTERED NUMBER: 08127339

ABBREVIATED BALANCE SHEET

AS AT 30 JUNE 2015

2015

2014

CURRENT ASSETS
Debtors		100		40,100
Cash at bank		15,527		49,212

		15,627		89,312
CREDITORS: amounts falling due within one year	4	(163,686)		(47,168)
NET CURRENT (LIABILITIES)/ASSETS			(148,059)		42,144

TOTAL ASSETS LESS CURRENT LIABILITIES

751,945

482,579

CREDITORS: amounts falling due after more than one year	5		(466,147)		(331,886)
NET ASSETS			285,798		150,693

CAPITAL AND RESERVES
Called up share capital	6	104	104
Revaluation reserve		96,536	-
Profit and loss account		189,158	150,589

SHAREHOLDERS' FUNDS

285,798

150,693

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VESTWATER LIMITED

ABBREVIATED BALANCE SHEET (continued)

AS AT 30 JUNE 2015

The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 30 June 2015 and of its profit for the year in accordance with the requirements of sections 394 and 395 of the Act 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, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf on 12 November 2015.

Mr P Waterton

Director

The notes on pages 3 to 4 form part of these financial statements.

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VESTWATER LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2015

1.ACCOUNTING POLICIES

	1.1	Basis of preparation of financial statements
		The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention as modified by the revaluation of investment properties and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

	1.2	Turnover
		Turnover comprises revenue recognised by the company in respect of rent receivable during the year, exclusive of Value Added Tax.

	1.3	Investments
		Investments held as fixed assets are shown at cost less provision for impairment.

	1.4	Investment properties
		Investment properties are included in the balance sheet at their open market value in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) 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 in order to give a true and fair view of the financial position of the company.

	1.5	Financial instruments
		Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

2.INVESTMENT PROPERTY

		£
	Valuation
	At 1 July 2014	440,431
	Additions at cost	363,033
	Surplus/(deficit) on revaluation	96,536
	At 30 June 2015	900,000

The 2015 valuations were made by the directors, on an open market value basis.

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VESTWATER LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2015

3.FIXED ASSET INVESTMENTS

		£
	Cost or valuation
	At 1 July 2014 and 30 June 2015	4

	Net book value
	At 30 June 2015	4
	At 30 June 2014	4

The company owns 100 Ordinary A shares in The Think Ink Company Limited, a company incorporated and registered in England and Wales. These shares represent 50% of the issued share capital but do not hold any voting rights. The shareholding therefore does not give the company significant influence.

The company also owns 1,000 Ordinary A shares in Vision Supplies Limited, a company incorporated and registered in England and Wales. These shares represent 48.7% of the issued share capital but do not hold any voting rights. The shareholding therefore does not give the company significant influence.

4.CREDITORS:
Amounts falling due within one year

Included within creditors due within one year is a balance of £46,308 (2014: £32,140), in respect of bank loans, which is secured by the company.

5.CREDITORS:
Amounts falling due after more than one year

Creditors include amounts not wholly repayable within 5 years as follows:

	2015	2014
	£	£

Repayable by instalments	262,313	203,328

Included within creditors due after more than one year is a balance of £466,147 (2014: £331,886), in respect of bank loans, which is secured by the company.

6.SHARE CAPITAL

	2015	2014
	£	£
Allotted and called up

104 Ordinary shares of £1 each	104	104

7.CONTROLLING PARTY

In the opinion of the directors there was no ultimate controlling party of the company at the year end.

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