Wingreen Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 02684371 (England and Wales)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 29 FEBRUARY 2016

FOR

WINGREEN LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Abbreviated Balance Sheet

3

Notes to the Abbreviated Accounts

4

DIRECTORS:

R N Murad

J L S Murad

S P Murad

R B Murad

SECRETARY:

S P Murad

REGISTERED OFFICE:

130 George Street

London

W1H 5DW

REGISTERED NUMBER:

02684371 (England and Wales)

ACCOUNTANTS:

Maurice Apple

Chartered Accountants

3rd Floor, 4 The Exchange

Brent Cross Gardens

London

London

NW4 3RJ

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages three to six)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Wingreen Limited for the year ended 29 February 2016 which comprise the Profit and Loss

Account, the Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Wingreen Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Wingreen Limited and state those matters that we have agreed to state to the Board of Directors of Wingreen Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Wingreen Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Wingreen Limited. You consider that Wingreen Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Wingreen Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Maurice Apple

Chartered Accountants

3rd Floor, 4 The Exchange

Brent Cross Gardens

London

London

NW4 3RJ

28 July 2016

FIXED ASSETS

Tangible assets

2

651,367

650,804

Investments

3

609,850

597,169

1,261,217

1,247,973

CURRENT ASSETS

Stocks

3,451,346

-

Debtors

102,957

40,646

Cash at bank

59,549

1,883,521

3,613,852

1,924,167

CREDITORS

Amounts falling due within one year

4

6,162,760

4,488,175

NET CURRENT LIABILITIES

(2,548,908

)

(2,564,008

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,287,691

)

(1,316,035

)

CREDITORS

Amounts falling due after more than one year

4

230,533

246,990

NET LIABILITIES

(1,518,224

)

(1,563,025

)

CAPITAL AND RESERVES

Called up share capital

5

20

20

Revaluation reserve

358,068

358,068

Profit and loss account

(1,876,312

)

(1,921,113

)

SHAREHOLDERS' FUNDS

(1,518,224

)

(1,563,025

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2016 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 28 July 2016 and were signed on its behalf by:

R N Murad - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been drawn up on the going concern basis which assumes that the existing

credit facilities will continue to be made available to the company. The directors consider it appropriate to

prepare the financial statements on the going concern basis.

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 January

2015).

Turnover

Turnover relates to the company's share of profits in it's joint property investment.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Furniture

-

25% on cost

Equipment

-

25% on cost

In compliance with the requirements of SSAP 19, no depreciation is provided in respect of the freehold and

leasehold investment properties. The application of the standard represents a departure from the Companies Act

2006 for the overriding purpose of giving a true and fair view.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Deferred tax

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

balance sheet date.

Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no

commitment to sell the asset.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 March 2015

667,872

Additions

1,823

At 29 February 2016

669,695

DEPRECIATION

At 1 March 2015

17,068

Charge for year

1,260

At 29 February 2016

18,328

NET BOOK VALUE

At 29 February 2016

651,367

At 28 February 2015

650,804

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 March 2015

15,000

Impairments

(13,666

)

At 29 February 2016

1,334

NET BOOK VALUE

At 29 February 2016

1,334

At 28 February 2015

15,000

Investments (neither listed nor unlisted) were as follows:

2016

2015

£

£

Investment in joint venture

608,516

582,169

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Associated company

Landmark Developments (UK) Limited

Nature of business: Property development

%

Class of shares:

holding

Ordinary shares of £1 each

33.33

4.

CREDITORS

Creditors include an amount of £ 245,910 (2015 - £ 260,886 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

20

Ordinary Shares

£1

20

20

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within creditors are loans from the directors, Richard Murad of £2,487,100 (2015 £1,347,100), Jane

Murad of £244,900 (2015 £244,900), Steven Murad of £285,670 (2015 £285,670) and Robert Murad of

£1,535,670 (2015 £285,670).

7.	RELATED PARTY DISCLOSURES

The bank loan of £470,511 (2015 £555,611) referred to in note 13 is held jointly with Darum Properties Limited

which is controlled by D Murad, the brother of R Murad.

During the year, loan amounting to £1,975,000 (2015 £1,975,000) due to The Richard Murad 2005 Family Trust

was repaid in full.

Included within other creditors is an interest free loan due to the shareholder, Jennifer Murad amounting to

£1,585,670 (2015 £285,670).

During the year management fee of £5,000 (2015 £40,000) was charged to the company by Landmark

Properties (UK) Limited, a company in which the director, R N Murad is a director and a shareholder.

Included within other debtors is £40,000 (2015 £40,000) due from Landmark Developments (UK) Limited, a

company in which Wingreen Limited is a shareholder.