Accounts filed on 31-03-2016

Accounts filed on 31-03-2016

WAITE PROPERTIES LIMITED - Company Information

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WAITE PROPERTIES LIMITED

Company Registration Number:
05009570 (England and Wales)

Unaudited Micro-Entity Financial Statements (Balance Sheet and Footnotes only)

Period of accounts

Start date: 01 April 2015

End date: 31 March 2016

WAITE PROPERTIES LIMITED

Company Information

for the Period Ended 31 March 2016




Director: Rosemary Waite
Susan Waite
Peter Waite
Phillip Waite
Secretary: Phillip Waite
Registered office: 90
Brampton Road
St Albans
Hertfordshire
AL1 4PX
Company Registration Number: 05009570 (England and Wales)

WAITE PROPERTIES LIMITED

Micro-Entity Balance sheet

As at 31 March 2016


Notes
2016
£
2015
£
Called up share capital not paid: 0 0
Fixed assets
Tangible assets: 2 200,000
Total fixed assets: 0 200,000
Current assets
Stocks: 0 0
Cash at bank and in hand: 97,788 3,477
Total current assets: 97,788 3,477
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 3 ( 27,315 ) ( 1,260 )
Net current assets (liabilities): 70,473 2,217
Total assets less current liabilities: 70,473 202,217
Creditors: amounts falling due after more than one year: 0 ( 185,436 )
Provision for liabilities: 0 0
Accruals and deferred income: 0 0
Total net assets (liabilities): 70,473 16,781
Capital and reserves: 70,473 16,781

WAITE PROPERTIES LIMITED

Balance sheet continued

As at 31 March 2016

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 and delivered in accordance with the provisions of the small companies regime applicable to micro-entities.

The financial statements were approved by the Board of Directors on 06 December 2016

SIGNED ON BEHALF OF THE BOARD BY:

Name: Rosemary Waite
Status: Director

Name: Susan Waite
Status: Director

WAITE PROPERTIES LIMITED

Notes to the Micro-Entity Accounts

for the Period Ended 31 March 2016

  • 1. Accounting policies

    Basis of measurement and preparation of accounts

    The financial statements have been prepared under the historical cost convention, as modified by the revaluation of investment property.

    Turnover policy

    Turnover represents amounts receivable in respect of rentals from properties owned. All properties are situated in the United Kingdom.

    Tangible fixed assets depreciation policy

    Fixed assets and depreciation

    Fixed assets are stated at cost and depreciated to their expected recoverable amounts in equal annual instalments over their estimated useful lives at the following rates:

    Freehold buildings 2%
    Fixture and Fittings 20%

    Valuation information and policy

    Investment properties
    Investment properties are carried at valuation. Any surplus revaluations are transferred to a revaluation reserve. No depreciation is provided in respect of investment properties. The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in the Financial Reporting Standard for Smaller Entities (effective January 2015). The directors consider that, as these properties are held for their investment potential, to depreciate them would not give a true and fair view, and that it is necessary to adopt the Financial Reporting Standard for Smaller Entities (effective January 2015) in order to give a true and fair view.

    Other accounting policies

    Deferred taxation

    Full provision is made for deferred taxation on the excess of capital allowances over depreciation and other timing differences. Deferred tax assets are recognised only to the extent that they are regarded as recoverable.

WAITE PROPERTIES LIMITED

Notes to the Micro-Entity Accounts

for the Period Ended 31 March 2016

  • 2. Tangible assets

    Total
    Cost £
    01 April 2015: 200,000
    Additions: 0
    Disposals: ( 200,000 )
    Revaluations: 0
    Transfers: 0
    31 March 2016: 0
    Depreciation
    01 April 2015: 0
    Charge for year: 0
    On disposals: 0
    Other adjustments: 0
    31 March 2016: 0
    Net book value
    31 March 2016: 0
    31 March 2015: 200,000

WAITE PROPERTIES LIMITED

Notes to the Micro-Entity Accounts

for the Period Ended 31 March 2016

  • 3. Creditors: amounts falling due within one year


    2016
    £
    2015
    £
    Taxation and social security: 27,315 1,260
    Total: 27,315 1,260

WAITE PROPERTIES LIMITED

Notes to the Micro-Entity Accounts

for the Period Ended 31 March 2016

  • 4. Related party disclosures

    Name of the ultimate controlling party during the period: The ultimate controlling parties for the company were the directors
    Name of related party: Susan Waite
    Relationship: Director
    Description of the transaction Loan from the director to the company
    Balance at 01 April 2015 14,543
    Balance at 31 March 2016 0
    Name of related party: Rosemary Waite
    Relationship: Director
    Description of the transaction Loan from the director to the company.
    Balance at 01 April 2015 14,583
    Balance at 31 March 2016 0
    Name of related party: Peter Waite
    Relationship: Director
    Description of the transaction Loan from the director to the company.
    Balance at 01 April 2015 10,642
    Balance at 31 March 2016 0
    Name of related party: Phillip Waite
    Relationship: Director
    Description of the transaction Loan from the director to the company
    Balance at 01 April 2015 10,668
    Balance at 31 March 2016 0