Wigan Shopping Arcade Ltd - Abbreviated accounts 16.3

Wigan Shopping Arcade Ltd - Abbreviated accounts 16.3

WIGAN SHOPPING ARCADE LTD - Company Information

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REGISTERED NUMBER: 08569322 (England and Wales)


















ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2016

FOR

WIGAN SHOPPING ARCADE LTD

WIGAN SHOPPING ARCADE LTD (REGISTERED NUMBER: 08569322)






CONTENTS OF THE ABBREVIATED ACCOUNTS
for the Year Ended 30 June 2016




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

WIGAN SHOPPING ARCADE LTD

COMPANY INFORMATION
for the Year Ended 30 June 2016







DIRECTOR: N Kay





REGISTERED OFFICE: Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB





REGISTERED NUMBER: 08569322 (England and Wales)





ACCOUNTANTS: Fairhurst
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB
Page 1
WIGAN SHOPPING ARCADE LTD (REGISTERED NUMBER: 08569322)

ABBREVIATED BALANCE SHEET
30 June 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Investment property 2 1,350,000 1,350,000

CURRENT ASSETS
Debtors 145,952 143,859
Cash at bank 4,747 6,633
150,699 150,492
CREDITORS
Amounts falling due within one year 3 81,664 77,424
NET CURRENT ASSETS 69,035 73,068
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,419,035
1,423,068

CREDITORS
Amounts falling due after more than one
year
3
629,000
678,333
NET ASSETS 790,035 744,735

CAPITAL AND RESERVES
Called up share capital 4 100 100
Revaluation reserve 658,393 658,393
Profit and loss account 131,542 86,242
SHAREHOLDERS' FUNDS 790,035 744,735

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 director acknowledges his 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 notes form part of these abbreviated accounts

Page 2 continued...
WIGAN SHOPPING ARCADE LTD (REGISTERED NUMBER: 08569322)

ABBREVIATED BALANCE SHEET - continued
30 June 2016


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 director on 31 March 2017 and were signed by:





N Kay - Director


The notes form part of these abbreviated accounts

Page 3
WIGAN SHOPPING ARCADE LTD (REGISTERED NUMBER: 08569322)

NOTES TO THE ABBREVIATED ACCOUNTS
for the Year Ended 30 June 2016

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 rents receivable during the year excluding value added tax.

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.

Investment properties are accounted for in accordance with the Financial Reporting Standard for Smaller Entities
(effective April 2008) and are revalued annually to open market value. Changes in market value are reflected in
the revaluation reserve except when an impairment is deemed to be permanent, when the loss is charged directly
against the current year's profit.

No depreciation is provided in respect of investment properties. This treatment is a departure from the
requirements of the Companies Act 2006 which requires all properties to be depreciated. However, the Directors
consider that these properties are not held for consumption but for investment and that to depreciate them would
not give a true and fair view. The amount of depreciation which might otherwise have been charged cannot be
separately identified or quantified as it is not practical to assess the estimated useful lives of investment
properties.

2. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 July 2015
and 30 June 2016 1,350,000
NET BOOK VALUE
At 30 June 2016 1,350,000
At 30 June 2015 1,350,000

3. CREDITORS

Creditors include an amount of £ 678,333 (2015 - £ 727,666 ) for which security has been given.

They also include the following debts falling due in more than five years:

2016 2015
£    £   
Repayable by instalments 431,667 481,000

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
100 Ordinary 1 100 100

Page 4