pinacle - Company Accounts (iXBRL 6.0.16)

WELLINGTON ST ASSETS LIMITED

FILLETED FINANCIAL STATEMENTS

YEAR ENDED 31 MAY 2017

COMPANY REGISTRATION NUMBER - 08813198

	1.
WELLINGTON ST ASSETS LIMITED
COMPANY NUMBER - 08813198
BALANCE SHEET AS AT 31 May 2017

			2017		2016
			----		----
	Notes	£	£	£	£

CURRENT ASSETS
Stocks		3,503,781		948,221
Debtors	4	151,495		155,795
Cash at bank and in hand		-		654
		3,655,276		1,104,670
CURRENT LIABILITIES
CREDITORS - Amounts
falling due within one year	5	2,121,784		1,023,739
NET CURRENT ASSETS			1,533,492		80,931
TOTAL ASSETS LESS CURRENT LIABILITIES			1,533,492		80,931
CREDITORS - Amounts falling
due after more than one year	5		(1,536,435)		(83,001)
NET LIABILITIES			(2,943)		(2,070)
CAPITAL AND RESERVES
Called up share capital	6		1		1
Profit and Loss account			(2,944)		(2,071)
SHAREHOLDERS' FUNDS			(2,943)		(2,070)

These financial statements have been prepared in accordance with the provisions of FRS102 Section 1A of the Companies Act 2006 relating to small companies. In accordance with section 444 of the Companies Act 2006, the directors' report and the profit and loss account have not been delivered.

For the financial year ended 31 May 2017, the company was entitled to exemption from audit under section 477 of the Companies Act 2006; and no notice has been deposited under section 476.

The members have not required the company to obtain an audit.

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.

Approved by the board of directors on14 February 2018
and signed on their behalf by:
G FRANK
The notes on pages 2 to 3 form an integral part of these accounts.

	2.
WELLINGTON ST ASSETS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MAY 2017
1. COMPANY INFORMATION

Wellington St Assets Limited is a Private Company, limited by shares, domiciled in England and Wales, registration number 08813198.

The company's registered office is New Maxdov House, 130 Bury New Road, Prestwich, Manchester M25 0AA.

2. ACCOUNTING POLICIES

BASIS OF ACCOUNTING

The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS102, section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

This is the first year in which the financial statements have been prepared under FRS102. Details of the transition to FRS 102 are disclosed in note 7.

The financial statements are presented in pounds sterling, which is the functional currency of the entity.

GOING CONCERN

The accounts have been prepared on a going concern basis due to the ongoing support of the major creditors.

FINANCIAL INSTRUMENTS

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

3. EMPLOYEES

The average number of persons employed by the company (including directors) during the year was 1 (2016 - 1).

	2017		2016
	----		----
	£		£
4. DEBTORS
Due within one year:
Trade debtors	151,095		154,345
Other debtors	400		1,450
	151,495		155,795

	3.
WELLINGTON ST ASSETS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MAY 2017

	2017		2016
	----		----
	£		£
5. CREDITORS
Amounts falling due within one year:
Trade creditors	141,191		13,200
Other creditors	1,980,593		1,010,539
	2,121,784		1,023,739
Amounts falling due after one year:
Other creditors:
Bank loan	1,536,435		83,001
6. CALLED UP SHARE CAPITAL

There was no change in share capital during the year.

Allotted, called up and fully paid
shares of £1 eachOrdinary	1		1
7. IMPACT OF FIRST YEAR ADOPTION OF FRS102

The accounting policies applied under the company's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or the profit or loss.