WATERVALE_ESTATES_LIMITED - Accounts


Company Registration No. 00540109 (England and Wales)
WATERVALE ESTATES LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2015
WATERVALE ESTATES LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
WATERVALE ESTATES LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 OCTOBER 2015
31 October 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
2,678,631
2,679,193
Current assets
Debtors
24,327
39,445
Investments
4
4
Cash at bank and in hand
176,027
152,418
200,358
191,867
Creditors: amounts falling due within one year
(57,683)
(54,272)
Net current assets
142,675
137,595
Total assets less current liabilities
2,821,306
2,816,788
Capital and reserves
Called up share capital
3
32,500
32,500
Share premium account
562,500
562,500
Revaluation reserve
1,327,506
1,327,506
Profit and loss account
898,800
894,282
Shareholders'  funds
2,821,306
2,816,788
For the financial year ended 31 October 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 29 July 2016
J C Hill
Director
Company Registration No. 00540109
WATERVALE ESTATES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:
Freehold land and buildings
2% straight line
Plant and equipment
10% reducing balance
Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
1.5
Investments
Current asset investments are stated at the lower of cost and net realisable value.
1.6
Deferred taxation
Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
WATERVALE ESTATES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2015
- 3 -
2
Fixed assets
Tangible assets
£
Cost or valuation
At 1 November 2014 & at 31 October 2015
2,690,612
Depreciation
At 1 November 2014
11,419
Charge for the year
562
At 31 October 2015
11,981
Net book value
At 31 October 2015
2,678,631
At 31 October 2014
2,679,193
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
32,500 Ordinary shares of £1 each
32,500
32,500
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