ACCOUNTS - Final Accounts

FORDWATER INVESTMENTS LIMITED - Company Information

Caseware UK (AP4) 2014.0.91 2014.0.91 2016-12-312016-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueRenting out its property to tenantsfalse2016-01-01 05712001 2016-01-01 2016-12-31 05712001 2015-01-01 2015-12-31 05712001 2016-12-31 05712001 2015-12-31 05712001 2015-01-01 05712001 c:CompanySecretary1 2016-01-01 2016-12-31 05712001 c:Director1 2016-01-01 2016-12-31 05712001 c:Director2 2016-01-01 2016-12-31 05712001 c:RegisteredOffice 2016-01-01 2016-12-31 05712001 d:FurnitureFittings 2016-01-01 2016-12-31 05712001 d:FurnitureFittings 2016-12-31 05712001 d:FurnitureFittings 2015-12-31 05712001 d:FurnitureFittings d:OwnedOrFreeholdAssets 2016-01-01 2016-12-31 05712001 d:OfficeEquipment 2016-01-01 2016-12-31 05712001 d:OfficeEquipment 2016-12-31 05712001 d:OfficeEquipment 2015-12-31 05712001 d:OfficeEquipment d:OwnedOrFreeholdAssets 2016-01-01 2016-12-31 05712001 d:OwnedOrFreeholdAssets 2016-01-01 2016-12-31 05712001 d:FreeholdInvestmentProperty 2015-12-31 05712001 d:CurrentFinancialInstruments 2016-12-31 05712001 d:CurrentFinancialInstruments 2015-12-31 05712001 d:Non-currentFinancialInstruments 2016-12-31 05712001 d:Non-currentFinancialInstruments 2015-12-31 05712001 d:Non-currentFinancialInstruments 1 2016-12-31 05712001 d:Non-currentFinancialInstruments 1 2015-12-31 05712001 d:CurrentFinancialInstruments d:WithinOneYear 2016-12-31 05712001 d:CurrentFinancialInstruments d:WithinOneYear 2015-12-31 05712001 d:Non-currentFinancialInstruments d:AfterOneYear 2016-12-31 05712001 d:Non-currentFinancialInstruments d:AfterOneYear 2015-12-31 05712001 d:ShareCapital 2016-12-31 05712001 d:ShareCapital 2015-12-31 05712001 d:InvestmentPropertiesRevaluationReserve 2016-12-31 05712001 d:InvestmentPropertiesRevaluationReserve 2015-12-31 05712001 d:RetainedEarningsAccumulatedLosses 2016-12-31 05712001 d:RetainedEarningsAccumulatedLosses 2015-12-31 05712001 d:AcceleratedTaxDepreciationDeferredTax 2016-12-31 05712001 d:AcceleratedTaxDepreciationDeferredTax 2015-12-31 05712001 c:FRS102 2016-01-01 2016-12-31 05712001 c:AuditExempt-NoAccountantsReport 2016-01-01 2016-12-31 05712001 c:AbridgedAccounts 2016-01-01 2016-12-31 05712001 c:PrivateLimitedCompanyLtd 2016-01-01 2016-12-31 iso4217:GBP

Registered number: 05712001

FORDWATER INVESTMENTS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

These financial statements have not been audited as the company is exempt under s477 of the Companies Act 2006 from the requirement to obtain an audit of its financial statements.

FORDWATER INVESTMENTS LIMITED

COMPANY INFORMATION

Directors	W Blacklidge
	J Moore


Company secretary	R Wordsworth


Registered number	05712001


Registered office	16 Queen Square
	Bristol
	BS1 4NT


Accountants	Bishop Fleming LLP
	Chartered Accountants
	16 Queen Square
	Bristol
	BS1 4NT

FORDWATER INVESTMENTS LIMITED

REGISTERED NUMBER:05712001

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2016

		2016		2015
Note		£		£

Fixed assets
Tangible assets	3		887		1,849
Investment property	4		2,800,000		2,800,000
			2,800,887		2,801,849
Current assets
Debtors: amounts falling due within one year	5	78,226		104,560
Cash at bank and in hand		142,350		45,263
		220,576		149,823
Creditors: amounts falling due within one year	6	(841,985)		(823,804)
Net current liabilities			(621,409)		(673,981)
Total assets less current liabilities			2,179,478		2,127,868
Creditors: amounts falling due after more than one year	7		(1,190,496)		(1,262,749)
Provisions for liabilities
Deferred tax	8	(11,950)		(12,826)
			(11,950)		(12,826)
Net assets			977,032		852,293

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FORDWATER INVESTMENTS LIMITED

REGISTERED NUMBER:05712001

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2016

	2016	2015
Note	£	£

Capital and reserves
Called up share capital	5,000	5,000
Revaluation reserve	338,784	338,784
Profit and loss account	633,248	508,509
	977,032	852,293

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

W Blacklidge

Director

Date: 26 April 2017

The notes on pages 3 to 7 form part of these financial statements.

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FORDWATER INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

1.	General information

Fordwater Investments Limited is a limited liability company, limited by shares, incorporated and registered in England within the United Kingdom, registered number: 05712001.
The address of the registered office is given in the company information page of these financial statements. The address of the company's principal place of business is: Unit 2E Manor Road, Marston Trading Estate, Frome, BA11 4BG.

2.Accounting policies

2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

GOING CONCERN

At the balance sheet date the company had net current liabilities of £621,409. The directors have considered the ability to continue as a going concern and believe this to be an appropriate basis on which to prepare accounts as the directors intend to continue to support the company for the foreseeable future.
An amount of £635,108 is owed to the directors and is deemed payable on demand, although the directors have confirmed they have no intention of withdrawing this within twelve months.

2.3

REVENUE

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

·the amount of turnover can be measured reliably;

·it is probable that the Company will receive the consideration due under the contract;

·the stage of completion of the contract at the end of the reporting period can be measured reliably; and

·the costs incurred and the costs to complete the contract can be measured reliably.

2.4

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model, other than investment properties, are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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FORDWATER INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

2.Accounting policies (continued)

2.4

TANGIBLE FIXED ASSETS (CONTINUED)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

				Fixtures and fittings	-	10% straight line
				Office equipment	-	25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.

2.5

INVESTMENT PROPERTY

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Income Statement.

2.6

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

2.7

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

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FORDWATER INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

	3.	Tangible fixed assets

	Fixtures and fittings	Office equipment	Total
	£	£	£
Cost or valuation
At 1 January 2016	4,037	2,546	6,583
At 31 December 2016	4,037	2,546	6,583
Depreciation
At 1 January 2016	3,305	1,429	4,734
Charge for the period on owned assets	403	559	962
At 31 December 2016	3,708	1,988	5,696
Net book value
At 31 December 2016	329	558	887
At 31 December 2015	732	1,117	1,849

4.	Investment property

		Freehold investment property
		£
	Valuation
	At 1 January 2016 and 31 December 2016	2,800,000

	COMPRISING
	Cost	2,461,217
	Annual revaluation surplus:
	Revaluation 2015	338,783
	At 31 December 2016	2,800,000

The 2016 valuations were made by the directors, on an open market value for existing use basis.

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FORDWATER INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

Debtors

					2016	2015
					£	£


Trade debtors	75,900	23,723
Amounts owed by associated undertakings	-	75,053
Prepayments and accrued income	2,326	5,784
	78,226	104,560

6.	Creditors: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2016	2015
		£	£

Bank loans	72,000	72,000
Trade creditors	5,272	3,540
Amounts owed to other participating interests	43,388	41,958
Corporation tax	31,206	21,446
Other taxation and social security	6,751	6,818
Other creditors	658,033	654,982
Accruals and deferred income	25,335	23,060
	841,985	823,804

7.	Creditors: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
		2016	2015
		£	£

Bank loans	1,170,496	1,242,749
Share capital treated as debt	20,000	20,000
	1,190,496	1,262,749

Secured loans

The bank loans are secured.

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FORDWATER INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

8.	Deferred taxation

	2016	2015
	£	£

At beginning of year	12,826	14,444
Charged to profit or loss	(876)	(1,618)
At end of year	11,950	12,826

The provision for deferred taxation is made up as follows:
	2016	2015
	£	£

Accelerated capital allowances

11,950

12,826

First time adoption of FRS 102

The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or profit or loss.

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