S.Wolffing Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 00437539 (England and Wales)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2016

FOR

S.WOLFFING LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

L Reuben

M J Reuben

SECRETARY:

L Reuben

REGISTERED OFFICE:

4 Prince Albert Road

London

NW1 7SN

REGISTERED NUMBER:

00437539 (England and Wales)

ACCOUNTANTS:

Scodie Deyong LLP

Chartered Accountants

4 Prince Albert Road

London

NW1 7SN

FIXED ASSETS

Investment property

2

2,852,900

CURRENT ASSETS

Debtors

654,198

650,000

Cash at bank

117,046

54,770

771,244

704,770

CREDITORS

Amounts falling due within one year

3

1,132,183

1,164,591

NET CURRENT LIABILITIES

(360,939

)

(459,821

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,491,961

2,393,079

CAPITAL AND RESERVES

Called up share capital

4

10,000

Revaluation reserve

1,190,585

Profit and loss account

1,291,376

1,192,494

SHAREHOLDERS' FUNDS

2,491,961

2,393,079

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 18 August 2016 and were signed on its behalf by:

M J Reuben - Director

1.	ACCOUNTING POLICIES

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

Turnover represents rental income, excluding value added tax where applicable.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

market value is transferred to a revaluation reserve.

Although this accounting policy is in accordance with the applicable accounting standard, SSAP 19, Accounting for

Investment Properties, it is a departure from the general requirement of the Companies Act 2006 for all tangible

assets to be depreciated. In the opinion of the director compliance with the standard is necessary for the financial

statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the

annual valuation and the amount of this which otherwise have been charged cannot be separately identified or

quantified.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

2.	INVESTMENT PROPERTY

Total

£

COST

At 1 July 2015

and 30 June 2016

2,852,900

NET BOOK VALUE

At 30 June 2016

2,852,900

At 30 June 2015

2,852,900

Freehold investment properties have been included in the Balance Sheet at its open market values as estimated by the

director.

The historical cost of the first freehold property was £209,415 in 1982 and the cost of the second property was

£1,492,900 in 2014.

3.

CREDITORS

Creditors include an amount of £ 1,000,000 (2015 - £ 1,040,000 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

10,000

Ordinary

£1

10,000