ACCOUNTS - Final Accounts

DENVER WINDMILL LIMITED - Company Information

Caseware UK (AP4) 2016.0.181 2016.0.181 2017-03-312017-03-31No description of principal activity2016-04-01falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08222902 2016-04-01 2017-03-31 08222902 2015-04-01 2016-03-31 08222902 2017-03-31 08222902 2016-03-31 08222902 c:Director1 2016-04-01 2017-03-31 08222902 c:Director5 2016-04-01 2017-03-31 08222902 d:PlantMachinery 2016-04-01 2017-03-31 08222902 d:PlantMachinery 2016-03-31 08222902 d:FurnitureFittings 2016-04-01 2017-03-31 08222902 d:FurnitureFittings 2016-03-31 08222902 d:OfficeEquipment 2016-04-01 2017-03-31 08222902 d:OfficeEquipment 2016-03-31 08222902 d:ComputerEquipment 2016-04-01 2017-03-31 08222902 d:CurrentFinancialInstruments 2017-03-31 08222902 d:CurrentFinancialInstruments 2016-03-31 08222902 d:CurrentFinancialInstruments d:WithinOneYear 2017-03-31 08222902 d:CurrentFinancialInstruments d:WithinOneYear 2016-03-31 08222902 d:ShareCapital 2017-03-31 08222902 d:ShareCapital 2016-03-31 08222902 d:RetainedEarningsAccumulatedLosses 2017-03-31 08222902 d:RetainedEarningsAccumulatedLosses 2016-03-31 08222902 c:FRS102 2016-04-01 2017-03-31 08222902 c:AuditExempt-NoAccountantsReport 2016-04-01 2017-03-31 08222902 c:FullAccounts 2016-04-01 2017-03-31 08222902 c:PrivateLimitedCompanyLtd 2016-04-01 2017-03-31 08222902 d:UltimateParent 2016-04-01 2017-03-31 iso4217:GBP xbrli:pure

Registered number: 08222902

DENVER WINDMILL LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

DENVER WINDMILL LIMITED

REGISTERED NUMBER: 08222902

BALANCE SHEET

AS AT 31 MARCH 2017

		2017		2016
Note		£		£

Fixed assets
Tangible assets	4		-		6,000
			-		6,000
Current assets
Debtors: amounts falling due within one year	5	765		191
Cash at bank and in hand		2,466		5,561
		3,231		5,752
Creditors: amounts falling due within one year	6	(1,408)		(38,088)
Net current assets/(liabilities)			1,823		(32,336)
Total assets less current liabilities			1,823		(26,336)

Net assets/(liabilities)			1,823		(26,336)

Capital and reserves
Called up share capital	1	1
Profit and loss account	1,822	(26,337)
	1,823	(26,336)

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 profit and loss account 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 on 13 October 2017.

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DENVER WINDMILL LIMITED

REGISTERED NUMBER: 08222902

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2017

Mr J Parry	Ms J Harwood
Director	Director

The notes on pages 3 to 6 form part of these financial statements.

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DENVER WINDMILL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

1.	General information

The company is a United Kingdom company limited by shares. It is both incorporated and domiciled in England and Wales. The address of its registered office is No. 9 The Old Church, St Matthews Road, Norwich, Norfolk, NR1 1SP.
The principal activity of the company was the operation of Denver Windmill on a commercial basis, until that closed to the public on 22 December 2014 and was sold on 17 February 2017.

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 financial statements for the year ended 31 March 2017 are the company's first financial statements that comply with FRS 102 Section 1A. The company's date of transition to FRS 102 is 1 April 2016. The company's last financial statements prepared in accordance with previous UK GAAP were for the year ended 31 March 2016.
Information on the impact of first-time adoption of FRS 102 is given in note 9

The following principal accounting policies have been applied:

2.2

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

2.3

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.

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DENVER WINDMILL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

2.Accounting policies (continued)

2.3

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the reducing balance and straight-line methods.

Depreciation is provided on the following basis:

Plant and machinery	-	25% reducing balance
Fixtures and fittings	-	15% reducing balance
Computer equipment	-	33% straight line

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 Profit and loss account.

2.4

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, 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.

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

Interest income

Interest income is recognised in the Profit and loss account using the effective interest method.

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DENVER WINDMILL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

2.Accounting policies (continued)

2.9

Taxation

Tax is recognised in the Profit and loss account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

2.10

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

Employees

The average monthly number of employees, including directors, during the year was 3 (2016 - 3).

4.	Tangible fixed assets

	Plant and machinery	Fixtures and fittings	Office equipment	Total
	£	£	£	£

At 1 April 2016	460	8,615	391	9,466
Disposals	(460)	(8,615)	(391)	(9,466)
At 31 March 2017	-	-	-	-

At 1 April 2016	288	2,788	391	3,467
Disposals	(288)	(2,788)	(391)	(3,467)
At 31 March 2017	-	-	-	-
Net book value
At 31 March 2017	-	-	-	-
At 31 March 2016	173	5,827	-	6,000

Debtors

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DENVER WINDMILL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

					2017	2016
					£	£


Other debtors	765	191
	765	191

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

Trade creditors	277	465
Amounts owed to group undertakings	-	34,672
Corporation tax	-	2,056
Other creditors	412	-
Accruals and deferred income	719	895
	1,408	38,088

7.	Related party transactions
	During the year a loan of £29,108 from the company's parent organisation, the Norfolk Historic Buildings Trust, was written off.

8.	Controlling party

As at 31 March 2017 ultimate control of the company vested in Norfolk Historic Buildings Trust.

9.	First time adoption of FRS 102 The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or profit or loss.

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