Weston Brothers (Holdings) Limited - Abbreviated accounts 16.1

WESTON BROTHERS (HOLDINGS) LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

5

DIRECTORS:

Mrs L J Lea-Weston

Mrs Z A Thomas

Mrs A Weston

M F J Weston

SECRETARY:

M F J Weston

REGISTERED OFFICE:

6a Upper Grove

Margate

Kent

CT9 1QT

REGISTERED NUMBER:

01457212 (England and Wales)

ACCOUNTANTS:

Wilkins Kennedy LLP

Delandale House

37 Old Dover Road

Canterbury

Kent

CT1 3JF

FIXED ASSETS

Tangible assets

2

3,514

4,455

Investments

3

481,553

Investment property

4

2,335,000

1,950,000

2,820,067

2,436,008

CURRENT ASSETS

Debtors

12,451

11,000

Investments

7,239

7,074

Cash at bank

170,773

313,455

190,463

331,529

CREDITORS

Amounts falling due within one year

2,256

6,713

NET CURRENT ASSETS

188,207

324,816

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,008,274

2,760,824

CAPITAL AND RESERVES

Called up share capital

5

87,265

Share premium

8,862

Revaluation reserve

1,324,534

1,095,904

Profit and loss account

1,587,613

1,568,793

SHAREHOLDERS' FUNDS

3,008,274

2,760,824

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 19 September 2016 and were signed on its behalf
by:

M F J Weston - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The accounts are prepared in recognition of the company's status as an investment company with effect from 1st

April 2003.

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

The turnover shown in the profit and loss account represents the value of rents receivable in the year.

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

-

10% on cost

Computer equipment

-

25% on cost

Investments

Investments are carried at the lower of cost or net realisable value.

Investment property

Compliance with the FRSSE, p5.37 is a departure from the Companies Act 2006 necessary to give a true and fair

view. No depreciation is charged on these properties in view of them treated as investment properties.

Individual investment properties are revalued annually by the directors with the surplus or deficit on book value

being transferred to revaluation reserve unless a deficit is expected to be permanent in which case it is charged to

the profit and loss account.

Deferred tax

Provision is made in full for all taxation deferred in respect of timing differences that have originated but not

reversed by the balance sheet date except for timing differences arising on revaluations of fixed assets which are

not intended to be sold and gains on disposals of fixed assets which will be rolled over into replacement assets.

No provision is made for taxation on permanent differences. Deferred tax assets are recognised to the extent that

it is more likely than not that they will be recovered. Deferred tax is measured using the rate of tax that is

expected to apply in the periods in which the timing differences are expected to reverse.

Provisions

Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the

balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where

material, provisions are calculated on a discounted basis.

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

9,655

DEPRECIATION

At 1 April 2015

5,200

Charge for year

941

At 31 March 2016

6,141

NET BOOK VALUE

At 31 March 2016

3,514

At 31 March 2015

4,455

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 April 2015

and 31 March 2016

481,553

NET BOOK VALUE

At 31 March 2016

481,553

At 31 March 2015

481,553

4.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 April 2015

1,950,000

Additions

156,370

Revaluations

228,630

At 31 March 2016

2,335,000

NET BOOK VALUE

At 31 March 2016

2,335,000

At 31 March 2015

1,950,000

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

87,265

Ordinary

£1

87,265