WILBY_LODGE_LIMITED - Accounts

WILBY LODGE LIMITED - Company Information

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Company Registration No. 01588599 (England and Wales)

WILBY LODGE LIMITED

DIRECTORS' REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

WILBY LODGE LIMITED

COMPANY INFORMATION

Directors

R Kaur

P Mani

S Singer

Company number

01588599

Registered office

C/o Sears Morgan Property Management

Suite D6 St Meryl Suite

Delta Gain

Watford

Herts

WD19 5EF

Accountants

Myers Clark

Egale 1

80 St Albans Road

Watford

Hertfordshire

WD17 1DL

WILBY LODGE LIMITED

CONTENTS

Page

Directors' report

Accountants' report

Balance sheet

Notes to the financial statements

4 - 5

WILBY LODGE LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 MARCH 2016

- 1 -

The directors present their report and unaudited financial statements for the year ended 31 March 2016. The company is dormant and has not traded during the year.

Directors

The following directors have held office since 1 April 2015:

R Kaur

P Mani

S Singer

On behalf of the board

P Mani

Director

30 August 2016

PROFIT AND LOSS ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2016

The company has not traded during the year or the preceding financial year. During these years, the company received no income and incurred no expenditure and therefore made neither profit nor loss.

WILBY LODGE LIMITED

CHERTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF WILBY LODGE LIMITED FOR THE YEAR ENDED 31 MARCH 2016

- 2 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Wilby Lodge Limited for the year ended 31 March 2016 set out on pages 3 to 5 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, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Wilby Lodge Limited, as a body, in accordance with the terms of our engagement letter dated 5 April 2013. Our work has been undertaken solely to prepare for your approval the financial statements of Wilby Lodge Limited and state those matters that we have agreed to state to the Board of Directors of Wilby Lodge Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Wilby Lodge Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Wilby Lodge 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 loss of Wilby Lodge Limited. You consider that Wilby Lodge 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 Wilby Lodge 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.

Myers Clark

30 August 2016

Chertered Accountants

Egale 1

80 St Albans Road

Watford

Hertfordshire

WD17 1DL

WILBY LODGE LIMITED

BALANCE SHEET

AS AT

31 MARCH 2016

- 3 -

2016

2015

as restated

Notes

Fixed assets

Tangible assets

Current assets

Debtors

Net current assets

Total assets less current liabilities

Capital and reserves

Called up share capital

Revaluation reserve

Shareholders' funds

Audit exemption statement

For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant 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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board and authorised for issue on 30 August 2016

P Mani

Director

Company Registration No. 01588599

WILBY LODGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

- 4 -

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 January 2015).

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

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:

Land and buildings Freehold

Nil

1.4

Deferred taxation

Deferred taxation 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.

Turnover

The company has no income or expenditure in its own right. All transactions in the year relate to the maintenance of the common parts in accordance with the lease. Income and expenditure arising from these transactions is shown in separate service charge accounts for the property that do not form part of the annual accounts of the company and are not filed at Companies House. Service charges collected are held in trust.

Tangible fixed assets

Land and buildings

Cost or valuation

At 1 April 2015 & at 31 March 2016

Depreciation

At 1 April 2015 & at 31 March 2016

Net book value

At 31 March 2016

At 31 March 2015

WILBY LODGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 5 -

Debtors

2016

2015

Trade debtors

Share capital

2016

2015

Allotted, called up and fully paid

16 Ordinary shares of £1 each

Statement of movements on reserves

Revaluation reserve

Profit and loss
account

Balance at 1 April 2015

Balance at 31 March 2016

Prior period adjustment

It was resolved that the service charge assets and associated liabilities in relation to the maintenance of the property governed by the lease should be held in trust and therefore reported separately from the statutory company accounts.

On this basis, a prior year adjustment has been made to strip out the amounts which relate to the service charge fund, as a result:

- Current assets due within one year amounting to £8,135 have been transferred to give a balance brought forward at 1 April 2015 of £16;

- Creditors due within one year have been reduced from £3,608 brought forward at 1 April 2015 to £nil; and

- Creditors due in more than one year brought forward as at 1 April 2015 of £4,511 have also been reduced to £nil.