WEMBLEY_570_LIMITED - Accounts

WEMBLEY_570_LIMITED - Accounts

WEMBLEY 570 LIMITED - Company Information

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Company Registration No. 09860811 (England and Wales)
WEMBLEY 570 LIMITED
DIRECTOR'S REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2016
WEMBLEY 570 LIMITED
COMPANY INFORMATION
Director
Mr S Kandasamy
Company number
09860811
Registered office
Ground Floor
4 Churchill Court
58 Station Road
North Harrow
Middlesex
HA2 7SA
Accountants
KPSR LLP
Ground Floor
4 Churchill Court
58 Station Road
North Harrow
Middlesex
HA2 7SA
WEMBLEY 570 LIMITED
CONTENTS
Page
Director's report
1
Accountants' report
2
Profit and loss account
3
Balance sheet
4
Notes to the financial statements
5 - 6
WEMBLEY 570 LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2016
- 1 -
The director presents his report and financial statements for the year ended 30 November 2016.
Director
The following director has held office since 6 November 2015:
Mr S Kandasamy
This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
On behalf of the board
Mr S Kandasamy
Director
3 November 2017
WEMBLEY 570 LIMITED
CHARTERED ACCOUNTANTS ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF WEMBLEY 570 LIMITED FOR THE YEAR ENDED 30 NOVEMBER 2016
- 2 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Wembley 570 Limited for the year ended 30 November 2016 set out on pages 3 to 6 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Wembley 570 Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Wembley 570 Limited and state those matters that we have agreed to state to the Board of Directors of Wembley 570 Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Wembley 570 Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Wembley 570 Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Wembley 570 Limited. You consider that Wembley 570 Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Wembley 570 Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
KPSR LLP
3 November 2017
Chartered Accountants Accountants
Ground Floor
4 Churchill Court
58 Station Road
North Harrow
Middlesex
HA2 7SA
WEMBLEY 570 LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 NOVEMBER 2016
- 3 -
2016
Notes
£
Turnover
1,390,994
Cost of sales
(1,453,517)
Gross loss
(62,523)
Administrative expenses
(3,745)
Loss on ordinary activities before taxation
(66,268)
Tax on loss on ordinary activities
2
-
Loss for the year
5
(66,268)
The profit and loss account has been prepared on the basis that all operations are continuing operations.
There are no recognised gains and losses other than those passing through the profit and loss account.
WEMBLEY 570 LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2016
30 November 2016
- 4 -
2016
Notes
£
£
Current assets
Creditors: amounts falling due within one year
3
(66,168)
Total assets less current liabilities
(66,168)
Capital and reserves
Called up share capital
4
100
Profit and loss account
5
(66,268)
Shareholders'  funds
6
(66,168)
For the financial year ended 30 November 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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board and authorised for issue on 3 November 2017
Mr S Kandasamy
Director
Company Registration No. 09860811
WEMBLEY 570 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2016
- 5 -
1
Accounting policies
1.1
Accounting convention

The financial statements are prepared under the historical cost convention.

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
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.5
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes.  The deferred tax balance has not been discounted.
2
Taxation
2016
£
Total current tax
-
Factors affecting the tax charge for the year
Loss on ordinary activities before taxation
(66,268)
Loss on ordinary activities before taxation multiplied by standard rate of UK corporation tax of 0.00%
-
Current tax charge for the year
-
3
Creditors: amounts falling due within one year
2016
£
Other creditors
66,168
WEMBLEY 570 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2016
- 6 -
4
Share capital
2016
£
Allotted, called up and fully paid
100 Ordinary of £1 each
100
5
Statement of movements on profit and loss account
Profit and loss
account
£
Loss for the year
(66,268)
6
Reconciliation of movements in Shareholders' funds
2016
£
Loss for the financial year
(66,268)
Proceeds from issue of shares
100
Net depletion in shareholders' funds
(66,168)
Opening Shareholders' funds
-
Closing Shareholders' funds
(66,168)
7
Control
The ultimate controlling party is PSK Property Limited, a Company incorporated in England and Wales (Company Number 10174442).
8
Related party relationships and transactions
The following credit balances existed at the balance sheet date:
Name
Relationship
2016
£
Mr S Kandasamy
Director
66,268
WEMBLEY 570 LIMITED
MANAGEMENT INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2016
WEMBLEY 570 LIMITED
SCHEDULE OF ADMINISTRATIVE EXPENSES
FOR THE YEAR ENDED 30 NOVEMBER 2016
2016
£
Administrative expenses
Rent
720
Motor and Travel
378
Accountancy
2,400
Sundry expenses - allowable
247
3,745
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