WASHBROOK LIMITED

WASHBROOK LIMITED

WASHBROOK LIMITED - Company Information

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WASHBROOK LIMITED

Company Registration Number:
03274925 (England and Wales)

Unaudited abridged accounts for the year ended 30 June 2017

Period of accounts

Start date: 01 July 2016

End date: 30 June 2017

WASHBROOK LIMITED

Contents of the Financial Statements

for the Period Ended 30 June 2017

Balance sheet
Notes

WASHBROOK LIMITED

Balance sheet

As at 30 June 2017


Notes
2017
2016


£
£
Fixed assets
Tangible assets: 3 2,096,077 2,201,267
Total fixed assets: 2,096,077 2,201,267
Current assets
Cash at bank and in hand: 48,762 11,213
Total current assets: 48,762 11,213
Creditors: amounts falling due within one year:   (115,067) (100,889)
Net current assets (liabilities): (66,305) (89,676)
Total assets less current liabilities: 2,029,772 2,111,591
Creditors: amounts falling due after more than one year: 4 (1,229,054) (1,233,937)
Provision for liabilities: (60,912) (80,862)
Total net assets (liabilities): 739,806 796,792
Capital and reserves
Called up share capital: 930 930
Revaluation reserve:5259,677344,727
Other reserves: 70 70
Profit and loss account: 479,129 451,065
Shareholders funds: 739,806 796,792

The notes form part of these financial statements

WASHBROOK LIMITED

Balance sheet statements

For the year ending 30 June 2017 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 25 March 2018
and signed on behalf of the board by:

Name: MR A R M BRETON
Status: Director

The notes form part of these financial statements

WASHBROOK LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2017

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for the provision of rental accommodation, net of discounts and Value Added Tax.

Tangible fixed assets and depreciation policy

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.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:Fittings, fixtures and equipment - 15% reducing balance.If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Other accounting policies

Basis of preparationThe financial statments have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through the profit or loss account.The financial statements are prepared in sterling, which is the functional currency of the entity.Transition to FRS 102The entity transitioned from previous UK GAAP to FRS 102 as at 1 July 2015. Details of how FRS 102 has affected the reported financial position and financial performance are contained within the accounts.ImpairmentA review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.Defined contribution plansContributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

WASHBROOK LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2017

2. Employees

2017 2016
Average number of employees during the period 1 1

WASHBROOK LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2017

3. Tangible Assets

Total
Cost £
At 01 July 2016 2,241,433
Revaluations (105,000)
At 30 June 2017 2,136,433
Depreciation
At 01 July 2016 40,166
Charge for year 190
At 30 June 2017 40,356
Net book value
At 30 June 2017 2,096,077
At 30 June 2016 2,201,267

WASHBROOK LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2017

4. Creditors: amounts falling due after more than one year note

The company's bankers have fixed charges over all of the company's properties.The director, Mr A R M Breton, has an outstanding loan due from the company of £316,559 (2016 £321,442) which is repayable on demand. However, he has indicated his willingness to continue to provide financial support to the company for the forseeable future.

WASHBROOK LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2017

5. Revaluation reserve

2017
£
Balance at 01 July 2016 344,727
Surplus or deficit after revaluation (85,050)
Balance at 30 June 2017 259,677