| Willowbank Developments Ltd |
| Registered number: |
03880164 |
| Statement of Financial Position |
| as at 30 November 2017 |
|
| Notes |
|
|
2017 |
|
|
2016 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
25 |
|
|
28 |
| Financial assets |
|
|
|
41,459 |
|
|
41,459 |
|
|
|
|
41,484 |
|
|
41,487 |
|
| Current assets |
| Debtors |
4 |
|
45,950 |
|
|
51,190 |
| Cash at bank and in hand |
|
|
5,330 |
|
|
2,366 |
|
|
|
51,280 |
|
|
53,556 |
|
| Creditors: amounts falling due within one year |
5 |
|
- |
|
|
(34,945) |
|
| Net current assets |
|
|
|
51,280 |
|
|
18,611 |
|
| Net assets |
|
|
|
92,764 |
|
|
60,098 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
2 |
|
|
2 |
| Profit and loss account |
|
|
|
92,762 |
|
|
60,096 |
|
| Shareholder's funds |
|
|
|
92,764 |
|
|
60,098 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| G Amerikanos for Keystone Investments Ltd |
| Director |
| Approved by the board on 14 March 2018 |
|
| Willowbank Developments Ltd |
| Notes to the Accounts |
| for the year ended 30 November 2017 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
|
|
|
Transition to FRS 102 |
|
The entity transitioned from previous UK GAAP to FRS 102 as at 1 December 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in the notes below. |
|
|
Group accounts |
|
The company is the parent undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts. These financials statements therefore present information about the company as an individual undertaking and not about its group. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
25% reducing balance |
|
|
Investments |
|
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses.
Unlisted investments (other than investments in subsidiaries, associates and joint ventures) are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses.
Changes in fair value/Impairment losses are included in the profit and loss account. |
|
|
Debtors |
|
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
|
| 2 |
Employees |
2017 |
|
2016 |
| Number |
Number |
|
|
Average number of persons employed by the company |
- |
|
- |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
| £ |
|
Cost |
|
At 1 December 2016 |
2,134 |
|
At 30 November 2017 |
2,134 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 December 2016 |
2,106 |
|
Charge for the year |
3 |
|
At 30 November 2017 |
2,109 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 November 2017 |
25 |
|
At 30 November 2016 |
28 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Debtors |
2017 |
|
2016 |
| £ |
£ |
|
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
45,950 |
|
51,190 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2017 |
|
2016 |
| £ |
£ |
|
|
Other creditors |
- |
|
34,945 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Related party transactions |
2017 |
|
2016 |
| £ |
£ |
|
SIS OY (incorporated in Finland) |
|
100% subisdiary company |
|
Dividends received |
|
|
|
|
49,778 |
|
16,177 |
|
|
KOY Masonmutka (incorporated in Finland) |
|
100% subisdiary company |
|
Amount due from (to) the related party |
45,950 |
|
51,190 |
|
|
Malini Toppinen |
|
Beneficial owner |
|
Amount due from (to) the related party |
- |
|
(34,945) |
|
Dividends paid |
|
|
|
|
14,833 |
|
- |
|
| 7 |
Other information |
|
|
Willowbank Developments Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
Studio G3, Grove Park Studios |
|
188-199 Sutton Court Road |
|
London |
|
W4 3HR |
|
| 8 |
Transition to FRS 102 |
|
|
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 December 2015.
No transitional adjustments were required in equity or profit or loss for the year. |
