Warwick Property Investments Limited - Accounts to registrar (filleted) - small 17.3
Warwick Property Investments Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2017 |
| FOR |
| WARWICK PROPERTY INVESTMENTS LIMITED |
| WARWICK PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 05562734) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 28 FEBRUARY 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| WARWICK PROPERTY INVESTMENTS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 28 FEBRUARY 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Jamesons House |
| Compton Way |
| Witney |
| OX28 3AB |
| WARWICK PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 05562734) |
| BALANCE SHEET |
| 28 FEBRUARY 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve | 10 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| WARWICK PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 05562734) |
| BALANCE SHEET - continued |
| 28 FEBRUARY 2017 |
| 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 |
| WARWICK PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 05562734) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 28 FEBRUARY 2017 |
| 1. | STATUTORY INFORMATION |
| Warwick Property Investments Limited is a |
| company's registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value |
| added tax and other sales taxes. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| 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. |
| In accordance with Statement of Standard Accounting Practice No.19, the company's properties that are held for long |
| term investment are included in the balance sheet at their open market values. The surpluses or deficits on annual |
| revaluation of such properties are transferred to the investment property revaluation reserve. Depreciation is not |
| provided in respect of investment properties. Leasehold investment properties are not amortised where the unexpired |
| term is over twenty years. |
| This policy represents a departure from the statutory accounting principles, which require depreciation to be provided on |
| all fixed assets. The directors consider that this policy is necessary in order that the financial statements may give a true |
| and fair view, because current values and changes in current values are of prime importance rather than the calculation |
| of systematic annual depreciation. Depreciation is only one of many factors reflected in the annual valuation and the |
| amount which might otherwise have been shown cannot be separately identified or quantified. |
| 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. |
| WARWICK PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 05562734) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28 FEBRUARY 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 29 February 2016 |
| and 28 February 2017 |
| DEPRECIATION |
| At 29 February 2016 |
| Charge for year |
| At 28 February 2017 |
| NET BOOK VALUE |
| At 28 February 2017 |
| At 28 February 2016 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 29 February 2016 |
| Revaluations | 600,000 |
| At 28 February 2017 |
| NET BOOK VALUE |
| At 28 February 2017 |
| At 28 February 2016 |
| WARWICK PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 05562734) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28 FEBRUARY 2017 |
| 5. | INVESTMENT PROPERTY - continued |
| Investment properties held at 28th February 2017 were revalued by the directors in 2016. The basis of the valuation used |
| was open market value. If the properties had been revalued, they would have been included on the historical cost basis |
| amounting to £607,268 (2016 - £607,268). |
| Fair value at 28 February 2017 is represented by: |
| £ |
| Valuation in 2009 | 542,732 |
| Valuation in 2010 | (115,000 | ) |
| Valuation in 2011 | (55,000 | ) |
| Valuation in 2014 | 370,000 |
| Valuation in 2016 | 600,000 |
| Cost | 607,268 |
| 1,950,000 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Property mortgages | 668,613 | 675,056 |
| WARWICK PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 05562734) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28 FEBRUARY 2017 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2017 | 2016 |
| £ | £ |
| Property mortgages | 668,613 | 675,056 |
| The property mortgages are secured on the properties to which each individual mortgage relates. |
| 10. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 29 February 2016 |
| Revaluation in year | 490,846 |
| At 28 February 2017 |
| 11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 28 February 2017 and |
| 28 February 2016: |
| 2017 | 2016 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |