ACCOUNTS - Final Accounts preparation

Caseware UK (AP4) 2016.0.181 2016.0.181 2017-03-312017-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueNo description of principal activityfalse2016-04-01 01959873 2016-04-01 2017-03-31 01959873 2015-04-01 2016-03-31 01959873 2017-03-31 01959873 2016-03-31 01959873 c:Director1 2016-04-01 2017-03-31 01959873 d:MotorVehicles 2016-04-01 2017-03-31 01959873 d:MotorVehicles 2017-03-31 01959873 d:MotorVehicles 2016-03-31 01959873 d:MotorVehicles d:OwnedOrFreeholdAssets 2016-04-01 2017-03-31 01959873 d:FurnitureFittings 2016-04-01 2017-03-31 01959873 d:FurnitureFittings 2017-03-31 01959873 d:FurnitureFittings 2016-03-31 01959873 d:FurnitureFittings d:OwnedOrFreeholdAssets 2016-04-01 2017-03-31 01959873 d:ComputerEquipment 2016-04-01 2017-03-31 01959873 d:ComputerEquipment 2017-03-31 01959873 d:ComputerEquipment 2016-03-31 01959873 d:ComputerEquipment d:OwnedOrFreeholdAssets 2016-04-01 2017-03-31 01959873 d:OwnedOrFreeholdAssets 2016-04-01 2017-03-31 01959873 d:CurrentFinancialInstruments 2017-03-31 01959873 d:CurrentFinancialInstruments 2016-03-31 01959873 d:Non-currentFinancialInstruments 2017-03-31 01959873 d:Non-currentFinancialInstruments 2016-03-31 01959873 d:CurrentFinancialInstruments d:WithinOneYear 2017-03-31 01959873 d:CurrentFinancialInstruments d:WithinOneYear 2016-03-31 01959873 d:ShareCapital 2017-03-31 01959873 d:ShareCapital 2016-03-31 01959873 d:RetainedEarningsAccumulatedLosses 2017-03-31 01959873 d:RetainedEarningsAccumulatedLosses 2016-03-31 01959873 c:FRS102 2016-04-01 2017-03-31 01959873 c:AuditExempt-NoAccountantsReport 2016-04-01 2017-03-31 01959873 c:FullAccounts 2016-04-01 2017-03-31 01959873 c:PrivateLimitedCompanyLtd 2016-04-01 2017-03-31 iso4217:GBP xbrli:pure

Registered number: 01959873

WORLAND LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

Fletcher & Partners

Chartered Accountants

Salisbury

WORLAND LIMITED

REGISTERED NUMBER: 01959873

BALANCE SHEET

AS AT 31 MARCH 2017

		2017		2016
Note		£		£

Fixed assets
Tangible assets	4		320		428
Investments	5		100		100
			420		528
Current assets
Debtors More Than One Year	6	205,000		-
Debtors Within One Year	6	211,493		211,723
Cash at bank and in hand	7	846,634		1,010,493
		1,263,127		1,222,216
Creditors: amounts falling due within one year	8	(126,788)		(70,193)
Net current assets			1,136,339		1,152,023

Net assets			1,136,759		1,152,551

Capital and reserves
Called up share capital	2	2
Profit and loss account	1,136,757	1,152,549
	1,136,759	1,152,551

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 statement of comprehensive income 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:

P J Kaufeler

Director

Date: 5 October 2017

The notes on pages 2 to 5 form part of these financial statements.

Page 1

WORLAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

1.	General information

Worland Limited is a private company limited by shares, incorporated in England and Wales. Its registered office is 13a Kenway Road, London, SW5 0RP.

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 following principal accounting policies have been applied:

2.2

Tangible fixed assets

Tangible fixed assets under the cost model 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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles	-	25%
Fixtures and fittings	-	25%
Computer equipment	-	25%

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 Statement of Comprehensive Income.

2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.4

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured at transaction value, less any impairment.

2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 2

WORLAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

2.Accounting policies (continued)

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

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2.9

Interest income

Interest income is recognised in the Statement of Comprehensive Income using the effective interest method.

Employees

The average monthly number of employees, including directors, during the year was 2 (2016 - 2).

Page 3

WORLAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

4.	Tangible fixed assets

	Motor vehicles	Fixtures and fittings	Computer equipment	Total
	£	£	£	£
Cost or valuation
At 1 April 2016	20,351	1,040	4,918	26,309
At 31 March 2017	20,351	1,040	4,918	26,309
Depreciation
At 1 April 2016	20,276	762	4,843	25,881
Charge for the period on owned assets	19	70	19	108
At 31 March 2017	20,295	832	4,862	25,989
Net book value
At 31 March 2017	56	208	56	320
At 31 March 2016	75	278	75	428

5.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 April 2016	100
	At 31 March 2017	100

	Net book value
	At 31 March 2017	100
	At 31 March 2016	100

Page 4

WORLAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

6.	Debtors
		2017	2016
		£	£

Due after more than one year
Other debtors	205,000	-

Debtors due after more than one year comprise a loan to a connected company. Interest is charged at 3.81% over the Lloyds Bank base rate and the loan is repayable in 5 years.

					2017	2016
					£	£

Due within one year
Other debtors	211,298	211,285
Prepayments and accrued income	195	438
	211,493	211,723

7.	Cash and cash equivalents
		2017	2016
		£	£

	Cash at bank and in hand	846,634	1,010,493

8.	Creditors: Amounts falling due within one year
		2017	2016
		£	£

Other creditors	123,527	66,957
Accruals and deferred income	3,261	3,236
	126,788	70,193

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