WETHERBY_ESTATES_LTD - Accounts

WETHERBY ESTATES LTD - Company Information

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Company Registration No. 04270961 (England and Wales)

WETHERBY ESTATES LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2016

WETHERBY ESTATES LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

WETHERBY ESTATES LTD

ABBREVIATED BALANCE SHEET

AS AT

31 AUGUST 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

6,965,712

6,572,529

Current assets

Debtors

79,077

68,084

Cash at bank and in hand

269,361

513,638

348,438

581,722

Creditors: amounts falling due within one year

(5,056,870)

(5,127,423)

Net current liabilities

(4,708,432)

(4,545,701)

Total assets less current liabilities

2,257,280

2,026,828

Creditors: amounts falling due after more than one year

(346,670)

(824,099)

Provisions for liabilities

(11,159)

(4,420)

1,899,451

1,198,309

Capital and reserves

Called up share capital

Profit and loss account

1,899,450

1,198,308

Shareholders' funds

1,899,451

1,198,309

For the financial year ended 31 August 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on .........................

..............................

R Rehman

Director

Company Registration No. 04270961

WETHERBY ESTATES LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Freehold

Not depreciated

Plant and machinery

15% - 25% reducing balance

Motor vehicles

25% reducing balance

1.5

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

Fixed assets

Tangible assets

Cost

At 1 September 2015

6,632,811

Additions

398,609

At 31 August 2016

7,031,420

Depreciation

At 1 September 2015

60,282

Charge for the year

5,426

At 31 August 2016

65,708

Net book value

At 31 August 2016

6,965,712

At 31 August 2015

6,572,529

WETHERBY ESTATES LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2016

- 3 -

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £192,000 (2015 - £74,746).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £346,670 (2015 - £824,099).

Share capital

2016

2015

Allotted, called up and fully paid

1 Ordinary of £1 each