Whitechurch Brenner Properties Limited - Limited company accounts 17.3

REGISTERED NUMBER: 01057135 (England and Wales)

WHITECHURCH BRENNER PROPERTIES LIMITED

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2017

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

Reconciliation of Equity

9

Reconciliation of Profit

11

DIRECTORS:

Mrs S Highfield

J Highfield

Ms R Highfield

SECRETARY:

J Highfield

REGISTERED OFFICE:

35/37 Brent Street

London

NW4 2EF

REGISTERED NUMBER:

01057135 (England and Wales)

ACCOUNTANTS:

Dodd Harris

Chartered Accountants

35/37 Brent Street

London

NW4 2EF

The directors present their report with the financial statements of the company for the year ended 5 April 2017.

DIRECTORS

The directors shown below have held office during the whole of the period from 6 April 2016 to the date of this report.

Mrs S Highfield

J Highfield

Ms R Highfield

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

Mrs S Highfield - Director

23 November 2017

TURNOVER

85,515

74,709

Administrative expenses

26,047

14,788

OPERATING PROFIT

4

59,468

59,921

Income from fixed asset investments

78

-

Interest receivable and similar income

77

91

155

91

PROFIT BEFORE TAXATION

59,623

60,012

Tax on profit

11,917

12,002

PROFIT FOR THE FINANCIAL YEAR

47,706

48,010

FIXED ASSETS

Tangible assets

5

508,585

507,915

Investments

6

52,913

-

561,498

507,915

CURRENT ASSETS

Debtors

7

1,750

-

Cash at bank

173,548

204,947

175,298

204,947

CREDITORS

Amounts falling due within one year

8

55,548

52,294

NET CURRENT ASSETS

119,750

152,653

TOTAL ASSETS LESS CURRENT LIABILITIES

681,248

660,568

PROVISIONS FOR LIABILITIES

823

123

NET ASSETS

680,425

660,445

CAPITAL AND RESERVES

Called up share capital

109

109

Fair value reserve

9

2,269

-

Retained earnings

678,047

660,336

SHAREHOLDERS' FUNDS

680,425

660,445

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2017 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 in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 23 November 2017 and were signed on its behalf by:

Mrs S Highfield - Director

1.	STATUTORY INFORMATION

Whitechurch Brenner Properties 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover represents the rental income receivable from the company's investment properties.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

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.

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.

Investment properties

Investment properties are shown in tangible fixed assets under the heading 'Land and Buildings' at cost.

Under FRS102 investment properties have to be valued at fair value. In the directors opinion, fair value could

not be measured reliably without undue cost and as such, the previously held investment properties have been

reclassified as tangible fixed assets in accordance with FRS102.

3.	EMPLOYEES AND DIRECTORS

The average monthly number of employees during the year was 1 .

4.	OPERATING PROFIT

The operating profit is stated after charging:

2017

2016

£

£

Depreciation - owned assets

428

207

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 6 April 2016

507,297

7,685

514,982

Additions

-

1,098

1,098

At 5 April 2017

507,297

8,783

516,080

DEPRECIATION

At 6 April 2016

-

7,067

7,067

Charge for year

-

428

428

At 5 April 2017

-

7,495

7,495

NET BOOK VALUE

At 5 April 2017

507,297

1,288

508,585

At 5 April 2016

507,297

618

507,915

The land and buildings relate solely to investment properties.

Cost or valuation at 5 April 2017 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Cost

507,297

8,783

516,080

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

Additions

50,078

Revaluations

2,835

At 5 April 2017

52,913

NET BOOK VALUE

At 5 April 2017

52,913

Cost or valuation at 5 April 2017 is represented by:

Other

investments

£

Valuation in 2017

2,835

Cost

50,078

52,913

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

1,750

-

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Taxation and social security

11,783

11,976

Other creditors

43,765

40,318

55,548

52,294

9.

RESERVES

Fair

value

reserve

£

Revaluation of Investments

2,269

At 5 April 2017

2,269

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Mrs S Highfield.

FIXED ASSETS

Tangible assets

870,485

(362,703

)

507,782

CURRENT ASSETS

Debtors

1,291

-

1,291

Cash at bank

181,860

-

181,860

183,151

-

183,151

CREDITORS

Amounts falling due within one year

(51,450

)

-

(51,450

)

NET CURRENT ASSETS

131,701

-

131,701

TOTAL ASSETS LESS CURRENT LIABILITIES

1,002,186

(362,703

)

639,483

PROVISIONS FOR LIABILITIES

(97

)

-

(97

)

NET ASSETS

1,002,089

(362,703

)

639,386

CAPITAL AND RESERVES

Called up share capital

109

-

109

Revaluation reserve

653,296

(653,296

)

-

Retained earnings

348,684

290,593

639,277

SHAREHOLDERS' FUNDS

1,002,089

(362,703

)

639,386

FIXED ASSETS

Tangible assets

870,618

(362,703

)

507,915

CURRENT ASSETS

Cash at bank

204,947

-

204,947

CREDITORS

Amounts falling due within one year

(52,294

)

-

(52,294

)

NET CURRENT ASSETS

152,653

-

152,653

TOTAL ASSETS LESS CURRENT LIABILITIES

1,023,271

(362,703

)

660,568

PROVISIONS FOR LIABILITIES

(123

)

-

(123

)

NET ASSETS

1,023,148

(362,703

)

660,445

CAPITAL AND RESERVES

Called up share capital

109

-

109

Revaluation reserve

653,296

(653,296

)

-

Retained earnings

369,743

290,593

660,336

SHAREHOLDERS' FUNDS

1,023,148

(362,703

)

660,445

Notes to the reconciliation of equity

The effect of the transition to FRS102 relates to the reclassification of the investment properties as tangible fixed assets.

Under FRS102 investment properties have to be valued at fair value. In the directors opinion, fair value could not be

measured reliably without undue cost and as such, the previously held investment properties have been reclassified as

tangible fixed assets in accordance with FRS102.

TURNOVER

74,709

-

74,709

Administrative expenses

(14,788

)

-

(14,788

)

OPERATING PROFIT

59,921

-

59,921

Interest receivable and similar income

91

-

91

PROFIT BEFORE TAXATION

60,012

-

60,012

Tax on profit

(12,002

)

-

(12,002

)

PROFIT FOR THE FINANCIAL YEAR

48,010

-

48,010