Wren General Merchants Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 00696609 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

WREN GENERAL MERCHANTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Dr P Lawes

Mrs H Lawes

Mr D Lawes

REGISTERED OFFICE:

Unit 5

Woodcock Road

Industrial Estate

Warminster

Wiltshire

BA12 9DX

REGISTERED NUMBER:

00696609 (England and Wales)

ACCOUNTANTS:

Gibson Booth Limited

12 Victoria Road

Barnsley

South Yorkshire

S70 2BB

FIXED ASSETS

Tangible assets

4

228

431

Investments

5

84,000

84,000

Investment property

6

500,000

500,000

584,228

584,431

CURRENT ASSETS

Debtors

7

1,032,978

1,081,038

Cash at bank and in hand

252,571

285,566

1,285,549

1,366,604

CREDITORS

Amounts falling due within one year

8

6,651

7,818

NET CURRENT ASSETS

1,278,898

1,358,786

TOTAL ASSETS LESS CURRENT LIABILITIES

1,863,126

1,943,217

CAPITAL AND RESERVES

Called up share capital

9

24

24

Revaluation reserve

10

476,837

476,837

Other reserves

10

26,074

26,074

Retained earnings

10

1,360,191

1,440,282

SHAREHOLDERS' FUNDS

1,863,126

1,943,217

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors on 2 August 2017 and were signed on its behalf by:

Dr P Lawes - Director

1.	STATUTORY INFORMATION

Wren General Merchants Limited is a private company, limited by shares , registered in

England and Wales. The company's registered number and registered office address can be

found on the Company Information page.

The financial statements are presented in sterling which is the functional currency of the

company and rounded to the nearest pound.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

This is the first year that the company has presented its financial statements under Financial

Reporting Standard 102 (FRS102) issued by the financial Reporting Council. The last financial

statements for the year ended 31 December 2015 were prepared under previous UK GAAP,

and the transition date to FRS102 is therefore 1 January 2015. At the date of transition, no

adjustments were required.

Under FRS 102, loans which represent financing arrangements are recorded at at present

value, using a market rate for similar debt instruments.

The directors' consider that the interest free loan disclosed in note 7 to the financial

statements should be included in the financial statements at historic cost. This is considered

the most appropriate basis as it is not possible to estimate a fair value for these amounts as

there are no terms of repayment specified and it is not possible to estimate an appropriate

notional rate of interest.

Significant judgements and estimates

No judgements have been made in the process of applying the below accounting policies

that have had the most significant effect on amounts recognised in the financial statements.

There are no key assumptions concerning the future and other key sources of estimation

uncertainty at the reporting date that have a significant risk of causing material adjustment

to the carrying amounts of assets and liabilities within the next financial year.

Turnover

The turnover shown in the profit and loss account represents rental income receivable.

Tangible fixed assets

All fixed assets are initially recorded at cost.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual

value, over the useful economic life of that asset as follows:

Plant & Equipment - Straight line basis over 7 years

Office Equipment - Straight line basis over 7 years

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit

arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income

Statement, except to the extent that it relates to items recognised in other comprehensive

income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that

have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in

periods different from those in which they are recognised in financial statements. Deferred

tax is measured using tax rates and laws that have been enacted or substantively enacted

by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it

is probable that they will be recovered against the reversal of deferred tax liabilities or

other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to

the company's pension scheme are charged to profit or loss in the period to which they

relate.

Investments

Unlisted investments are stated at historic cost.

Financial instruments

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2015 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Office

equipment

£

COST

At 1 January 2016

and 31 December 2016

3,163

DEPRECIATION

At 1 January 2016

2,732

Charge for year

203

At 31 December 2016

2,935

NET BOOK VALUE

At 31 December 2016

228

At 31 December 2015

431

5.	FIXED ASSET INVESTMENTS

Interest

in other

participating

interests

£

COST

At 1 January 2016

and 31 December 2016

84,000

NET BOOK VALUE

At 31 December 2016

84,000

At 31 December 2015

84,000

The investment value represents the cost of the shareholding in Burgau Fortaleza LDA.

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2016

and 31 December 2016

500,000

NET BOOK VALUE

At 31 December 2016

500,000

At 31 December 2015

500,000

Cost or valuation at 31 December 2016 is represented by:

£

Valuation in 2008

476,837

Cost

23,163

500,000

If investment property had not been revalued it would have been included at the following

historical cost:

31.12.16

31.12.15

£

£

Cost

23,163

23,163

Investment property was valued on an open market basis on 31 December 2016 by Dr P Lawes, a director of the company

.

7.

DEBTORS

31.12.16

31.12.15

£

£

Amounts falling due within one year:

Trade debtors

21,013

31,341

Corporation tax

-

4,249

Prepayments

838

855

21,851

36,445

Amounts falling due after more than one year:

Amounts owed by participating interests

1,011,127

1,044,593

Aggregate amounts

1,032,978

1,081,038

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Corporation tax

1,341

-

Social security and other taxes

406

89

VAT

1,158

754

Accruals and deferred income

3,746

6,975

6,651

7,818

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.16

31.12.15

value:

£

£

24,000

Ordinary

0.001

24

24

10.

RESERVES

Retained

Revaluation

Other

earnings

reserve

reserves

Totals

£

£

£

£

At 1 January 2016

1,440,282

476,837

26,074

1,943,193

Profit for the year

19,909

19,909

Dividends

(100,000

)

(100,000

)

At 31 December 2016

1,360,191

476,837

26,074

1,863,102

11.	RELATED PARTY DISCLOSURES

During the year, total dividends of £100,000 were paid to the directors .

Included within other debtors are amounts owed from Burgau Fortaleza LDA totalling

£1,011,127 (2015 - £1,044,593). Wren General Merchants Limited owns 50% of the issued

share capital of Burgau Fortaleza LDA. Income of £17,980 (2015 - £16,560) was recognised

in the profit and loss account, in respect of income received from Burgau Fortaleza LDA.

12.	CONTROLLING PARTY

The controlling party is Mrs H Lawes.