Whetley Mills (Properties) Limited - Abbreviated accounts 16.3
Whetley Mills (Properties) Limited - Abbreviated accounts 16.3
| REGISTERED NUMBER: |
| ABBREVIATED UNAUDITED ACCOUNTS |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| FOR |
| WHETLEY MILLS (PROPERTIES) LIMITED |
| WHETLEY MILLS (PROPERTIES) LIMITED (REGISTERED NUMBER: 05120864) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| WHETLEY MILLS (PROPERTIES) LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| WHETLEY MILLS (PROPERTIES) LIMITED (REGISTERED NUMBER: 05120864) |
| ABBREVIATED BALANCE SHEET |
| 31 MARCH 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| Investment property | 3 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 4 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 5 |
| Revaluation reserve |
| Profit and loss account | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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. |
| WHETLEY MILLS (PROPERTIES) LIMITED (REGISTERED NUMBER: 05120864) |
| ABBREVIATED BALANCE SHEET - continued |
| 31 MARCH 2016 |
| The financial statements were approved by the Board of Directors on by: |
| WHETLEY MILLS (PROPERTIES) LIMITED (REGISTERED NUMBER: 05120864) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared on a going concern basis. The company is reliant on support |
| provided by the directors and members of their families, related parties and other creditors included within |
| Creditors: amounts falling due after more than one year. Those concerned have indicated their willingness to |
| support the company by not requiring repayment of amounts due to them until the company is in a position to |
| repay them. |
| The company is also reliant on the loans provided by its bankers. The directors are not aware of any reasons why |
| peremptory repayment would be demanded. |
| The directors consider that the company is able to operate within the level of its current bank facilities for the |
| foreseeable future. |
| 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). |
| Exemption from preparing a cash flow statement |
| Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a |
| small company. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| 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 Financial Reporting Standard for Smaller Entities |
| (effective January 2007), it is a departure from the general requirements of the Companies Act 2006 for all |
| tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the |
| financial statements to give a true and fair view. Deprecation or amortisation is only one of many factors |
| reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be |
| separately identified or quantified. |
| Stocks |
| Closing stock represents freehold property held for resale. The directors have reviewed the carrying value of all |
| properties held on an individual basis in the light of recent property market fluctuations. The directors are of the |
| opinion that the net realisable value of each property remains in excess of its carrying value. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet date. |
| Operating lease income |
| Operating lease rental income (excluding charges for services such as insurance and maintenance) is accounted |
| for on a straight line basis over the period of the lease with any rental increases recognised during the period to |
| which they relate. |
| WHETLEY MILLS (PROPERTIES) LIMITED (REGISTERED NUMBER: 05120864) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 April 2015 |
| and 31 March 2016 |
| DEPRECIATION |
| At 1 April 2015 |
| Charge for year |
| At 31 March 2016 |
| NET BOOK VALUE |
| At 31 March 2016 |
| At 31 March 2015 |
| 3. | INVESTMENT PROPERTY |
| Total |
| £ |
| COST OR VALUATION |
| At 1 April 2015 |
| Additions |
| At 31 March 2016 |
| NET BOOK VALUE |
| At 31 March 2016 |
| At 31 March 2015 |
| 4. | CREDITORS |
| Creditors include an amount of £ |
| 5. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary | £1 |
| 6. | ULTIMATE CONTROLLING PARTY |
| The company is under the control of its directors. |