Walrond Holdings Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 03979952 (England and Wales)

Walrond Holdings Limited

Abridged Unaudited Financial Statements for the Year Ended 31 December 2016

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

J P J Walrond

M J Walrond

A P Walrond

REGISTERED OFFICE:

Jubilee Park

Badgers Cross Lane

Somerton

Somerset

TA11 7JF

REGISTERED NUMBER:

03979952 (England and Wales)

ACCOUNTANTS:

Maxwells

Chartered Accountants

4 King Square

Bridgwater

Somerset

TA6 3YF

BANKERS:

National Westminster Bank plc

9 York Buildings

Cornhill

Bridgwater

Somerset

TA6 3BA

FIXED ASSETS

Tangible assets

5

1,061,734

1,071,526

Investments

6

100,000

100,000

1,161,734

1,171,526

CURRENT ASSETS

Debtors

50,815

1,048

Cash at bank

3,349

2,793

54,164

3,841

CREDITORS

Amounts falling due within one year

280,248

184,840

NET CURRENT LIABILITIES

(226,084

)

(180,999

)

TOTAL ASSETS LESS CURRENT LIABILITIES

935,650

990,527

CREDITORS

Amounts falling due after more than one year

7

(227,208

)

(270,944

)

PROVISIONS FOR LIABILITIES

(68,398

)

(68,469

)

NET ASSETS

640,044

651,114

CAPITAL AND RESERVES

Called up share capital

100,000

100,000

Investment revaluation reserve

9

350,838

350,838

Capital redemption reserve

100,001

100,001

Retained earnings

89,205

100,275

SHAREHOLDERS' FUNDS

640,044

651,114

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.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 December 2016 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors on 25 September 2017 and were signed on its behalf by:

M J Walrond - Director

1.	STATUTORY INFORMATION

Walrond Holdings 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.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Preparation of consolidated financial statements

The financial statements contain information about Walrond Holdings Limited as an individual company and do

not contain consolidated financial information as the parent of a group. The company has taken the option under

Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

not provided

Plant and machinery etc

-

33% on reducing balance, 25% on reducing balance and 15% on reducing balance

Freehold investment properties, in accordance with FRS 102 are held at fair value.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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 statement of financial position date.

Deferred tax

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

statement of financial position 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2015 - 2 ) .

5.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1 January 2016

1,129,244

Disposals

(9,000

)

At 31 December 2016

1,120,244

DEPRECIATION

At 1 January 2016

57,718

Charge for year

792

At 31 December 2016

58,510

NET BOOK VALUE

At 31 December 2016

1,061,734

At 31 December 2015

1,071,526

Cost or valuation at 31 December 2016 is represented by:

Totals

£

Valuation in 2016

1,058,326

Cost

61,918

1,120,244

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

cost:

31.12.16

31.12.15

£

£

Cost

649,359

658,359

Value of land in freehold land and buildings

37,545

46,545

Freehold investment property was valued on an open market basis on 31 December 2016 by the directors of the company

.

6.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 January 2016

and 31 December 2016

100,000

NET BOOK VALUE

At 31 December 2016

100,000

At 31 December 2015

100,000

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

31.12.16

31.12.15

£

£

Repayable by instalments

Bank loans

85,057

130,393

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.16

31.12.15

£

£

Bank loans

471,146

304,082

Bank loans and overdrafts are secured on the assets of the company.

9.

RESERVES

Investment

revaluation

reserve

£

At 1 January 2016

and 31 December 2016

350,838

10.	ULTIMATE CONTROLLING PARTY

The company was jointly controlled during the current and previous period by J P J Walrond and M J Walrond

by virtue of the fact that, between them, they own all of the issued share capital.