ACCOUNTS - Final Accounts preparation

ACCOUNTS - Final Accounts preparation

VESTWATER LTD - Company Information

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08127339 VESTWATER LIMITED 2013-07-01 2014-06-30 false true 2014-06-30 08127339 2014-06-30 08127339 2013-07-01 2014-06-30 08127339 2013-06-30 08127339 c:OrdinaryShareClass1 2014-06-30 08127339 c:OrdinaryShareClass1 2013-06-30 08127339 c:OrdinaryShareClass1 2013-07-01 2014-06-30 08127339 c:Director1 2013-07-01 2014-06-30 08127339 d:InvestmentProperties 2013-07-01 2014-06-30 08127339 d:InvestmentProperties 2014-06-30 xbrli:shares iso4217:GBP
Registered number: 08127339













VESTWATER LIMITED







UNAUDITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2014
























                                                             HAINES WATTS LEEDS LLP
                                                            CHARTERED ACCOUNTANTS
 
VESTWATER LIMITED
REGISTERED NUMBER: 08127339

ABBREVIATED BALANCE SHEET
AS AT 30 JUNE 2014

2014
2013
Note
£
£
£
£
 
FIXED ASSETS





 
Investment property
2
440,431
-
 
Investments
 
3
4

4








440,435

4
 
CURRENT ASSETS





 
Debtors
40,100
84,300

 
Cash at bank

49,212
35,215







 
89,312
119,515
 
CREDITORS: amounts falling due within one year
4
(47,168)
(1,500)
 
NET CURRENT ASSETS


42,144

118,015
 
TOTAL ASSETS LESS CURRENT LIABILITIES
482,579
118,019
 
CREDITORS: amounts falling due after more than one year
5
(331,886)

-

NET ASSETS




 150,693


 118,019
  
CAPITAL AND RESERVES

 
Called up share capital
7
104
104
 
Profit and loss account
150,589
117,915
 
SHAREHOLDERS' FUNDS
 

 150,693

 118,019


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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 30 June 2014 and of its profit for the year in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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VESTWATER LIMITED
 
    
ABBREVIATED BALANCE SHEET (continued)
AS AT 30 JUNE 2014

The abbreviated accounts, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf on 25 November 2014.




Mr P Waterton
Director

The notes on pages 3 to 5 form part of these financial statements.

Page 2
 
VESTWATER LIMITED
 
 
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2014

1.ACCOUNTING POLICIES

1.1
Basis of preparation of financial statements

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2
Turnover

Turnover comprises revenue recognised by the company in respect of rent receivable during the year, exclusive of Value Added Tax.

1.3
Investments

Investments held as fixed assets are shown at cost less provision for impairment.

1.4
Investment properties

Investment properties are included in the balance sheet at their open market value in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) and are not depreciated. This treatment is contrary to the Companies Act 2006 which states that fixed assets should be depreciated but is, in the opinion of the directors, necessary in order to give a true and fair view of the financial position of the company.

1.5
Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.


2.INVESTMENT PROPERTY



£


Valuation


At 1 July 2013
-

Additions at cost
440,431


At 30 June 2014

 440,431
The 2014 valuations were made by the directors, on an open market value basis.

Page 3
 
VESTWATER LIMITED
 
 
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2014

3.FIXED ASSET INVESTMENTS



£


Cost or valuation



At 1 July 2013 and 30 June 2014

4




Net book value


At 30 June 2014
 4


At 30 June 2013

 4

The company owns 100 Ordinary A shares in The Think Ink Company Limited, a company incorporated and registered in England and Wales.  These shares represent 50% of the issued share capital but do not hold any voting rights.  The shareholding therefore does not give the company significant influence.

The company also owns 1,000 Ordinary A shares in Vision Supplies Limited, a company incorporated and registered in England and Wales.  These shares represent 48.7% of the issued share capital but do not hold any voting rights.  The shareholding therefore does not give the company significant influence.


4.CREDITORS:
Amounts falling due within one year

Included within creditors due within one year is a balance of £32,140 (2013: £Nil), in respect of bank loans, which is secured by the company.

 

5.CREDITORS:
Amounts falling due after more than one year

Creditors include amounts not wholly repayable within 5 years as follows:

        2014
        2013
        £
        £



Repayable by instalments
 203,328
 -

Included within creditors due after more than one year is a balance of £331,886 (2013: £Nil), in respect of bank loans,  which is secured by the company.


6.TRANSACTIONS WITH THE DIRECTORS

Included within debtors is an amount of £Nil (2013: £84,000) due from a director. The directors current account is unsecured and interest free. The maximum balance outstanding during the period was £104,216 (2013: £84,000).
 
Page 4
 
VESTWATER LIMITED
 
 
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2014

7.SHARE CAPITAL

        2014
        2013
        £

        £

Allotted and called up 



104 Ordinary shares of £1 each
 104
 104


8.CONTROLLING PARTY

In the opinion of the directors there was no ultimate controlling party of the company at the year end.

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