Wickframe Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 01812062 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 December 2015

for

Wickframe Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

6

DIRECTORS:

Mr G C G Kavazy

Mrs H C Hartley

Mrs P H Heaton

Mr J Kavazy

Mr P G Kavazy

SECRETARY:

Mr G C G Kavazy

REGISTERED OFFICE:

43 North Park Grove

Leeds

West Yorkshire

LS8 1EW

REGISTERED NUMBER:

01812062 (England and Wales)

ACCOUNTANTS:

Harris & Co. Chartered Accountants

Marland House

13 Huddersfield Road

Barnsley

South Yorkshire

S70 2LW

FIXED ASSETS

Tangible assets

2

2,492

2,932

Investment property

3

1,565,000

1,567,492

1,567,932

CURRENT ASSETS

Debtors

360,598

323,260

Cash at bank

488,719

895,593

849,317

1,218,853

CREDITORS

Amounts falling due within one year

4

133,560

200,557

NET CURRENT ASSETS

715,757

1,018,296

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,283,249

2,586,228

CREDITORS

Amounts falling due after more than one
year

4

-

(370,555

)

PROVISIONS FOR LIABILITIES

(330

)

(381

)

NET ASSETS

2,282,919

2,215,292

CAPITAL AND RESERVES

Called up share capital

5

50,100

Revaluation reserve

(475,305

)

(475,305

)

Profit and loss account

2,708,124

2,640,497

SHAREHOLDERS' FUNDS

2,282,919

2,215,292

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 December 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 28 July 2016 and were signed on its behalf
by:

Mr G C G Kavazy - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with

the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents amounts earned on goods and services provided during the year and derives from

the provision of goods falling within the company's ordinary activities.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Investment property

Investment properties are shown at their open market value. The surplus or deficit arising from the annual

revaluation is transferred to the investment revaluation reserve unless a deficit, or its reversal, on an

individual investment property is expected to be permanent, in which case it is recognised in the profit and

loss account for the year.

This is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015)

which, unlike the Companies Act 2006, does not require depreciation of investment properties. Investment

properties are held for their investment potential and not for use by the company and so their current value

is of prime importance. The departure from the provisions of the Act is required in order to give a true and

fair view.

Deferred tax

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:

Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed

assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to

the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets

concerned. However, no provision is made where, on the basis of all available evidence at the balance

sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and

charged to tax only where the replacement assets are sold;

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

and 31 December 2015

11,644

DEPRECIATION

At 1 January 2015

8,712

Charge for year

440

At 31 December 2015

9,152

NET BOOK VALUE

At 31 December 2015

2,492

At 31 December 2014

2,932

3.	INVESTMENT PROPERTY

Total

£

COST

At 1 January 2015

and 31 December 2015

1,565,000

NET BOOK VALUE

At 31 December 2015

1,565,000

At 31 December 2014

1,565,000

4.

CREDITORS

Creditors include an amount of £ 0 (2014 - £ 424,159 ) for which security has been given.

They also include the following debts falling due in more than five years:

2015

2014

£

Repayable by instalments

-

128,017

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

NIL

Ordinary

£1

-

100

500

A

£1

500

49,500

B

£1

49,500

26

C Ordinary

£1

26

-

26

D Ordinary

£1

26

-

12

E Ordinary

£1

12

-

12

F Ordinary

£1

12

-

12

G Ordinary

£1

12

-

12

H Ordinary

£1

12

-

50,100

Allotted and issued:

Number:

Class:

Nominal

2015

2014

value:

£

26

C shares

£1

26

-

26

D shares

£1

26

-

12

E shares

£1

12

-

12

F shares

£1

12

-

12

G shares

£1

12

-

12

H shares

£1

12

-

100

-

During the period the existing issued share capital of £50,100 divided into 100 £1 Ordinary shares, 500 £1

A shares and 49,500 £1 B shares were re-designated as 500 £1 A shares, 49,500 £1 B shares, 26 £1 C

Ordinary shares, 26 £1 D Ordinary shares, 12 £1 E Ordinary shares, 12 £1 F Ordinary, 12 £1 G Ordinary

shares and 12 £1 H Ordinary shares.