Abbreviated Company Accounts - WYSE DEVELOPMENTS LIMITED

WYSE DEVELOPMENTS LIMITED - Company Information

05007108 WYSE DEVELOPMENTS LIMITED 2015-05-31 false 2014-06-01 2015-05-31 true 05007108 2014-06-01 2015-05-31 05007108 2015-05-31 05007108 2014-05-31 05007108 uk-gaap-cd-bus:Director1 2014-06-01 2015-05-31 05007108 uk-gaap-cd-bus:Director2 2014-06-01 2015-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-06-01 2015-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-05-31 iso4217:GBP shares

Registered Number 05007108

WYSE DEVELOPMENTS LIMITED

Abbreviated Accounts

31 May 2015

WYSE DEVELOPMENTS LIMITED Registered Number 05007108

Abbreviated Balance Sheet as at 31 May 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	210,000	210,000
		210,000	210,000
Current assets
Cash at bank and in hand		4,475	2,405
		4,475	2,405
Creditors: amounts falling due within one year	3	(72,530)	(73,141)
Net current assets (liabilities)		(68,055)	(70,736)
Total assets less current liabilities		141,945	139,264
Creditors: amounts falling due after more than one year	3	(151,965)	(151,965)
Total net assets (liabilities)		(10,020)	(12,701)
Capital and reserves
Called up share capital	4	1,000	1,000
Revaluation reserve		6,054	6,054
Profit and loss account		(17,074)	(19,755)
Shareholders' funds		(10,020)	(12,701)

For the year ending 31 May 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 23 February 2016

And signed on their behalf by:
J K Phillips, Director

WYSE DEVELOPMENTS LIMITED Registered Number 05007108

Notes to the Abbreviated Accounts for the period ended 31 May 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of rent receivable made during the year.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost or valuation less residual value of each asset over its expected useful life, as follows:

Land and buildings - No depreciation is provided in line with the Financial Reporting Standard for Smaller Entities

Investment properties
In accordance with the Financial Reporting Standard for Smaller Entities, investment properties are not subject to periodic charges for depreciation, except for leasehold properties where the unexpired lease term is 20 years or less. Investment properties are included in the balance sheet at their market value.

Other accounting policies
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more, tax, with the following exceptions:

Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Going concern
The accounts have been prepared on a going concern basis which assumes the continued support of the company's directors.

Secured creditors
The mortgage of £151,965 is secured by legal charges over the company's investment property.

2Tangible fixed assets

	£
Cost
At 1 June 2014	210,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 May 2015	210,000
Depreciation
At 1 June 2014	-
Charge for the year	-
On disposals	-
At 31 May 2015	-
Net book values
At 31 May 2015	210,000
At 31 May 2014	210,000

3Creditors

	2015 £	2014 £
Secured Debts	151,965	151,965

4Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
1,000 Ordinary shares of £1 each	1,000	1,000