Wickham Road Developments Limited - Period Ending 2016-03-31

Registration number: 08673717

Wickham Road Developments Limited

Unaudited Abbreviated Accounts

for the Period from 1 October 2014 to 31 March 2016

 

Charter Tax Consulting Ltd
11 St. James's Place
London
SW1A 1NP

Wickham Road Developments Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Wickham Road Developments Limited
for the Period Ended 31 March 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Wickham Road Developments Limited for the period ended 31 March 2016 set out on pages 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 Wickham Road Developments Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Wickham Road Developments Limited and state those matters that we have agreed to state to them, 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 Wickham Road Developments Limited and its Board of Directors as a body for our work or for this report.

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

We have not been instructed to carry out an audit or a review of the accounts of Wickham Road Developments 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 accounts.

 
 
 
 
  Charter Tax Consulting Ltd
  11 St. James's Place
  London
  SW1A 1NP

15 July 2016

Page 1

Wickham Road Developments Limited
(Registration number: 08673717)
Abbreviated Balance Sheet at 31 March 2016

		Note			31 March 2016 £			30 September 2014 £
Current assets
Stocks					-			2,683,701
Debtors					22,242			1,000
Cash at bank and in hand					109,703			-
					131,945			2,684,701
Creditors: Amounts falling due within one year					(130,945)			(2,686,701)
Net assets/(liabilities)					1,000			(2,000)
Capital and reserves
Called up share capital		3			1,000			1,000
Profit and loss account					-			(3,000)
Shareholders' funds/(deficit)					1,000			(2,000)

For the year ending 31 March 2016 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 24 June 2016 and signed on its behalf by:

  Lawrence Pinkney
 Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Wickham Road Developments Limited
Notes to the Abbreviated Accounts for the Period from 1 October 2014 to 31 March 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Going concern

It is the directors' intention for the company to be liquidated within 12 months of the date of signing these financial statements. The company is therefore not regarded as a going concern and so these financial statements have been prepared on a break up basis. The Directors do not anticipate costs of liquidation to be material. The preparation of financial statements in accordance with the break up basis requires that assets are reduced to their recoverable amounts and that provisions are made for future losses. The Directors have considered whether there is any indication that the recoverable amount of the Company's assets is lower than the amount recorded in these financial statements. They have concluded that any post balance sheet changes in value reflect fair value changes and do not indicate a reduction in the recoverable amount and so no adjustment is required to the carrying amount of the Company's assets or liabilities. In addition the Directors have considered whether any provision is required for future losses. The Company will continue to incur expenses up to the date of cessation of trade. However, the anticipated income during that period is expected to exceed the Company's estimated future expenses and, accordingly, the Directors do not consider that a provision for future losses is required.

Turnover

Turnover represents amounts invoiced during the year. Revenue is recognised on completion of the property being sold.

Work in progress

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Wickham Road Developments Limited
Notes to the Abbreviated Accounts for the Period from 1 October 2014 to 31 March 2016
......... continued

2

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		31 March 2016 £			30 September 2014 £
Amounts falling due within one year		-			1,974,696

3	Share capital

Allotted, called up and fully paid shares

	31 March 2016						30 September 2014
		No.			£			No.			£
X ordinary of £1 each		510			510			510			510
Y ordinary of £1 each		490			490			490			490
		1,000			1,000			1,000			1,000

4

Control

The company is controlled by CVS Asset Management Limited. Control is by virtue of its shareholding along with authority granted by an agreement with the remaining X shareholders. There is no ultimate controlling party of CVS Asset Management Limited.

Page 4