WILSON BROTHERS PROPERTIES LIMITED Company Accounts
WILSON BROTHERS PROPERTIES LIMITED Company Accounts
COMPANY REGISTRATION NUMBER:
02616488
|
|
|
|
Financial Statements |
Year ended 31 March 2017
Contents |
Page |
Statement of financial position |
1 |
Notes to the financial statements |
3 |
|
Statement of Financial Position |
2017 |
2016 |
||
Note |
£ |
£ |
£ |
Fixed assets
Tangible assets |
6 |
|
|
|
Current assets
Debtors |
7 |
|
|
|
Cash at bank and in hand |
|
|
||
ÄÄÄÄÄÄÄÄÄ |
ÄÄÄÄÄÄÄÄÄ |
|||
|
|
|||
Creditors: amounts falling due within one year |
8 |
|
|
|
ÄÄÄÄÄÄÄÄÄ |
ÄÄÄÄÄÄÄÄÄ |
|||
Net current assets |
|
|
||
ÄÄÄÄÄÄÄÄÄÄÄÄ |
ÄÄÄÄÄÄÄÄÄÄÄÄ |
|||
Total assets less current liabilities |
|
|
||
Provisions
Taxation including deferred tax |
|
|
|
ÄÄÄÄÄÄÄÄÄÄÄÄ |
ÄÄÄÄÄÄÄÄÄÄÄÄ |
||
Net assets |
|
|
|
ÍÍÍÍÍÍÍÍÍÍÍÍ |
ÍÍÍÍÍÍÍÍÍÍÍÍ |
||
Capital and reserves
Called up share capital |
|
|
|
Share premium account |
|
|
|
Profit and loss account |
|
|
|
ÄÄÄÄÄÄÄÄÄÄÄÄ |
ÄÄÄÄÄÄÄÄÄÄÄÄ |
||
Members funds |
|
|
|
ÍÍÍÍÍÍÍÍÍÍÍÍ |
ÍÍÍÍÍÍÍÍÍÍÍÍ |
||
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
-
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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
|
Statement of Financial Position (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
11 November 2017
, and are signed on behalf of the board by:
|
|
Director |
|
Company registration number:
02616488
|
Notes to the Financial Statements |
Year ended 31 March 2017
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 25 Pound Street, Newbury, Berkshire, RG14 6AE, England.
2.
Statement of compliance
3.
Description of activities
The principal activity of the company during the year was that of property letting. The company also made loans and receives interest as well as capital repayments.
4.
Accounting policies
Basis of preparation
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 13.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short term highly liquid investments.
Judgements and key sources of estimation uncertainty
Revenue recognition
Taxation
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment |
- |
|
|
Impairment of fixed assets
Provisions
Financial instruments
5.
Employee numbers
The average number of persons employed by the company during the year, including the directors, amounted to
4
(2016:
4
).
6.
Tangible assets
Land and buildings |
Equipment |
Total |
|
£ |
£ |
£ |
|
Cost |
|||
At 1 April 2016 |
|
|
|
Additions |
|
– |
|
ÄÄÄÄÄÄÄÄÄÄÄÄ |
ÄÄÄÄ |
ÄÄÄÄÄÄÄÄÄÄÄÄ |
|
At 31 March 2017 |
|
|
|
ÍÍÍÍÍÍÍÍÍÍÍÍ |
ÍÍÍÍ |
ÍÍÍÍÍÍÍÍÍÍÍÍ |
|
Depreciation |
|||
At 1 April 2016 |
– |
|
|
Charge for the year |
– |
|
|
ÄÄÄÄÄÄÄÄÄÄÄÄ |
ÄÄÄÄ |
ÄÄÄÄÄÄÄÄÄÄÄÄ |
|
At 31 March 2017 |
– |
|
|
ÍÍÍÍÍÍÍÍÍÍÍÍ |
ÍÍÍÍ |
ÍÍÍÍÍÍÍÍÍÍÍÍ |
|
Carrying amount |
|||
At 31 March 2017 |
|
– |
|
ÍÍÍÍÍÍÍÍÍÍÍÍ |
ÍÍÍÍ |
ÍÍÍÍÍÍÍÍÍÍÍÍ |
|
At 31 March 2016 |
|
|
|
ÍÍÍÍÍÍÍÍÍÍÍÍ |
ÍÍÍÍ |
ÍÍÍÍÍÍÍÍÍÍÍÍ |
|
Tangible assets held at valuation
7.
Debtors
2017 |
2016 |
|
£ |
£ |
|
Other debtors |
|
|
ÍÍÍÍÍÍÍÍ |
ÍÍÍÍÍÍÍÍ |
|
The debtors above include the following amounts falling due after more than one year:
2017 |
2016 |
|
£ |
£ |
|
Other debtors |
|
– |
ÍÍÍÍÍÍÍÍ |
ÍÍÍÍ |
|
8.
Creditors:
amounts falling due within one year
2017 |
2016 |
|
£ |
£ |
|
Corporation tax |
|
|
Social security and other taxes |
|
|
Other creditors |
|
|
ÄÄÄÄÄÄÄÄ |
ÄÄÄÄÄÄÄÄ |
|
|
|
|
ÍÍÍÍÍÍÍÍ |
ÍÍÍÍÍÍÍÍ |
|
9.
Deferred tax
The deferred tax included in the statement of financial position is as follows:
2017 |
2016 |
|
£ |
£ |
|
Included in provisions |
|
|
ÍÍÍÍÍÍÍÍÍ |
ÍÍÍÍÍÍÍÍÍ |
|
The deferred tax account consists of the tax effect of timing differences in respect of:
2017 |
2016 |
|
£ |
£ |
|
Accelerated capital allowances |
– |
|
Fair value adjustment of investment property |
|
|
ÄÄÄÄÄÄÄÄÄ |
ÄÄÄÄÄÄÄÄÄ |
|
131,877 |
141,819 |
|
ÍÍÍÍÍÍÍÍÍ |
ÍÍÍÍÍÍÍÍÍ |
|
10.
Reserves
Profit and loss account - This reserve records retained earnings and accumulated losses. Included in the Profit and loss account is an undistributable amount of £1,424,425 relating to revaluation of Investment properties £1,556,302, less deferred tax on the revaluation £131,877.
11.
Directors
' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2017 |
||||
Balance brought forward |
Advances/ (credits) to the directors |
Balance outstanding |
||
£ |
£ |
£ |
||
|
– |
|
|
|
ÍÍÍÍ |
ÍÍÍÍÍÍÍÍ |
ÍÍÍÍÍÍÍÍ |
||
2016 |
||||
Balance brought forward |
Advances/ (credits) to the directors |
Balance outstanding |
||
£ |
£ |
£ |
||
|
– |
– |
– |
|
ÍÍÍÍ |
ÍÍÍÍ |
ÍÍÍÍ |
||
12.
Related party transactions
13.
Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 April 2015.
Reconciliation of equity
1 April 2015 |
31 March 2016 |
|||||
As previously stated |
Effect of transition |
FRS 102 (as restated) |
As previously stated |
Effect of transition |
FRS 102 (as restated) |
|
£ |
£ |
£ |
£ |
£ |
£ |
|
Fixed assets |
|
– |
|
|
– |
|
Current assets |
|
– |
|
|
– |
|
Creditors: amounts falling due within one year |
(
|
– |
(
|
(
|
– |
(
|
ÄÄÄÄÄÄÄÄÄÄÄÄ |
ÄÄÄÄ |
ÄÄÄÄÄÄÄÄÄÄÄÄ |
ÄÄÄÄÄÄÄÄÄÄÄÄ |
ÄÄÄÄ |
ÄÄÄÄÄÄÄÄÄÄÄÄ |
|
Net current assets |
|
– |
|
|
– |
|
ÄÄÄÄÄÄÄÄÄÄÄÄ |
ÄÄÄÄ |
ÄÄÄÄÄÄÄÄÄÄÄÄ |
ÄÄÄÄÄÄÄÄÄÄÄÄ |
ÄÄÄÄ |
ÄÄÄÄÄÄÄÄÄÄÄÄ |
|
Total assets less current liabilities |
|
– |
|
|
– |
|
Provisions |
(
|
(
|
(
|
(
|
(
|
(
|
ÄÄÄÄÄÄÄÄÄÄÄÄ |
ÄÄÄÄÄÄÄÄÄ |
ÄÄÄÄÄÄÄÄÄÄÄÄ |
ÄÄÄÄÄÄÄÄÄÄÄÄ |
ÄÄÄÄÄÄÄÄÄ |
ÄÄÄÄÄÄÄÄÄÄÄÄ |
|
Net assets |
|
(
|
|
|
(
|
|
ÍÍÍÍÍÍÍÍÍÍÍÍ |
ÍÍÍÍÍÍÍÍÍ |
ÍÍÍÍÍÍÍÍÍÍÍÍ |
ÍÍÍÍÍÍÍÍÍÍÍÍ |
ÍÍÍÍÍÍÍÍÍ |
ÍÍÍÍÍÍÍÍÍÍÍÍ |
|
ÄÄÄÄÄÄÄÄÄÄÄÄ |
ÄÄÄÄÄÄÄÄÄ |
ÄÄÄÄÄÄÄÄÄÄÄÄ |
ÄÄÄÄÄÄÄÄÄÄÄÄ |
ÄÄÄÄÄÄÄÄÄ |
ÄÄÄÄÄÄÄÄÄÄÄÄ |
|
Capital and reserves |
|
(
|
|
|
(
|
|
ÍÍÍÍÍÍÍÍÍÍÍÍ |
ÍÍÍÍÍÍÍÍÍ |
ÍÍÍÍÍÍÍÍÍÍÍÍ |
ÍÍÍÍÍÍÍÍÍÍÍÍ |
ÍÍÍÍÍÍÍÍÍ |
ÍÍÍÍÍÍÍÍÍÍÍÍ |
|