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Registered number: 09587923
WOODSTOCK30 LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2017
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WOODSTOCK30 LIMITED
REGISTERED NUMBER: 09587923
BALANCE SHEET
AS AT 31 MAY 2017
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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The director considers 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 director acknowledges his 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.
Page 1
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WOODSTOCK30 LIMITED
REGISTERED NUMBER: 09587923
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2017
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 February 2018.
The notes on pages 3 to 6 form part of these financial statements.
Page 2
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WOODSTOCK30 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2017
Woodstock30 Limited (the "Company") is a private company limited by shares, incorporated in England and Wales. Its registered number is 09587923. The registered office is 30 Reynards Road, Welwyn, Hertfordshire, United Kingdom, AL6 9TP.
The principal activity is that of a holding company.
2.Accounting policies
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Basis of preparation of financial statements
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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 following principal accounting policies have been applied:
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:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the statement of income and retained earnings.
Investments in subsidiaries are measured at cost less accumulated impairment.
Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
Page 3
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WOODSTOCK30 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2017
2.Accounting policies (continued)
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.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
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.
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The average monthly number of employees, including directors, during the year was 1 (2016 - 1).
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Page 4
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WOODSTOCK30 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2017
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Freehold investment property
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The 2017 valuations were made on an open market value for existing use basis.
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Page 5
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WOODSTOCK30 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2017
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Allotted, called up and fully paid
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100 Ordinary shares of £1 each
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2,550 Ordinary A shares of £1 each
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2,550 Ordinary B shares of £1 each
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During the period the 100 Ordinary shares of £1 were reclassified into 50 Ordinary A shares of £1 each and 50 Ordinary B shares of £1 each.
There has been 2,500 Ordinary A shares of £1 each and 2,500 Ordinary B shares issued during the period for £3,377,500 and £3,377,500 respectively. Ordinary A shares were purchased at a premium of £3,375,000 and Ordinary B shares at a premium of £3,375,000.
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Related party transactions
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During the period the company acquired investment properties from George and Gina Properties LLP in consideration for shares in Woodstock30 Limited.
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First time adoption of FRS 102
This is the first year that the company has presented its results under FRS 102. The last financial statements prepared under the previous UK GAAP were for the period ended 31 May 2016. The date of transition to FRS 102 was 1 June 2015.
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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