We Rent Space Limited - Limited company - abbreviated

REGISTERED NUMBER: 03794329 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2015

FOR

WE RENT SPACE LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr J J Ainscough

Mr K Lowe

SECRETARY:

Mr S P Smith

REGISTERED OFFICE:

Ainscough Business Park

Mossy Lea Road

Wrightington

Wigan

Lancashire

WN6 9RS

REGISTERED NUMBER:

03794329 (England and Wales)

ACCOUNTANTS:

Fairhurst

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

BANKERS:

The Royal Bank of Scotland plc

38 Market Place

Wigan

WN1 1PJ

FIXED ASSETS

Tangible assets

2

2,378,168

2,429,217

CURRENT ASSETS

Debtors

38,519

43,954

Cash at bank

50,222

34,426

88,741

78,380

CREDITORS

Amounts falling due within one year

3

171,106

160,999

NET CURRENT LIABILITIES

(82,365

)

(82,619

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,295,803

2,346,598

CREDITORS

Amounts falling due after more than one
year

3

276,121

443,504

NET ASSETS

2,019,682

1,903,094

CAPITAL AND RESERVES

Called up share capital

4

200

Revaluation reserve

1,003,263

Profit and loss account

1,016,219

899,631

SHAREHOLDERS' FUNDS

2,019,682

1,903,094

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 29 January 2016 and were signed on its behalf by:

Mr J J Ainscough - Director

1.	ACCOUNTING POLICIES

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

Turnover represents net rents and service charges receivable, excluding value added tax.

Tangible fixed assets

Tangible fixed assets are included at cost or valuation.

Depreciation is provided at the following rates in order to write off the cost less estimated residual value of each

asset over its estimated useful life.

Land

-

not provided

Investment property

-

not provided

Fixtures and fittings

-

25% on reducing balance

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Investment property

In accordance with FRSSE, (i) investment properties are revalued annually and the aggregate surplus or deficit is

taken to the statement of recognised gains and losses (being movement on an investment revaluation reserve),

unless a deficit (or its reversal) is expected to be permanent, in which case it is charged (or credited) to the profit

and loss account, and (ii) no depreciation or amortisation is provided in respect of freehold investment properties

and leasehold investment properties with over twenty years to run. The treatment under (ii) above is a departure

from the requirement of the Companies Act 2006 which requires that depreciation is charged to write off the

value of the investment properties, less any residual value, over the period of the asset's useful economic life.

The directors consider that the accounting policy adopted is necessary for the financial statements to give a true

and fair view. The annual revaluation is carried out by the directors on an open market basis supported by

external professional valuations.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 May 2014

2,433,515

Disposals

(50,719

)

At 30 April 2015

2,382,796

DEPRECIATION

At 1 May 2014

4,298

Charge for year

330

At 30 April 2015

4,628

NET BOOK VALUE

At 30 April 2015

2,378,168

At 30 April 2014

2,429,217

3.

CREDITORS

Creditors include an amount of £ 127,153 (2014 - £ 534,651 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

100

Ordinary 'A'

£1

100

Ordinary 'B'

£1

100

200

Ordinary A and B shares rank pari passu in all respects.

We Rent Space Limited - Limited company - abbreviated - 11.9

We Rent Space Limited - Limited company - abbreviated - 11.9