WALDECK PROPERTIES LIMITED Company accounts

WALDECK PROPERTIES LTD - Company Information

false false false false false false false false false true false false false false false false false No description of principal activity 2017-03-01 Sage Accounts Production Advanced 2018 - FRS 10,064 6,657 608 609 1,217 152 266 418 799 456 xbrli:pure xbrli:shares iso4217:GBP 09999538 2017-03-01 2018-03-31 09999538 2018-03-31 09999538 2017-02-28 09999538 2016-02-11 2017-02-28 09999538 2017-02-28 09999538 bus:RegisteredOffice 2017-03-01 2018-03-31 09999538 bus:LeadAgentIfApplicable 2017-03-01 2018-03-31 09999538 bus:Director1 2017-03-01 2018-03-31 09999538 core:ShareCapital 2016-02-11 2017-02-28 09999538 core:RetainedEarningsAccumulatedLosses 2016-02-11 2017-02-28 09999538 core:RetainedEarningsAccumulatedLosses 2017-03-01 2018-03-31 09999538 core:WithinOneYear 2018-03-31 09999538 core:WithinOneYear 2017-02-28 09999538 core:ShareCapital 2018-03-31 09999538 core:ShareCapital 2017-02-28 09999538 core:RetainedEarningsAccumulatedLosses 2018-03-31 09999538 core:RetainedEarningsAccumulatedLosses 2017-02-28 09999538 core:RestatedAmount 2017-02-28 09999538 bus:SmallEntities 2017-03-01 2018-03-31 09999538 bus:AuditExemptWithAccountantsReport 2017-03-01 2018-03-31 09999538 bus:FullAccounts 2017-03-01 2018-03-31 09999538 bus:SmallCompaniesRegimeForAccounts 2017-03-01 2018-03-31 09999538 bus:PrivateLimitedCompanyLtd 2017-03-01 2018-03-31 09999538 core:ToolsEquipment 2017-03-01 2018-03-31 09999538 core:ToolsEquipment 2017-02-28 09999538 core:ToolsEquipment 2018-03-31

COMPANY REGISTRATION NUMBER: 09999538

WALDECK PROPERTIES LIMITED

Unaudited Financial Statements

31 March 2018

WALDECK PROPERTIES LIMITED

Financial Statements

Period from 1 March 2017 to 31 March 2018

Contents	Page

Officers and professional advisers	1

Director's report	2

Statement of comprehensive income	3

Statement of financial position	4

Statement of changes in equity	5

Notes to the financial statements	6

The following pages do not form part of the financial statements

Chartered accountants & statutory auditors report to the director on the preparation of the unaudited statutory financial statements	10

WALDECK PROPERTIES LIMITED

Officers and Professional Advisers

Director	Mr RG Mitchell

Registered office	47 Kimbolton Road
	Bedford
	United Kingdom
	MK40 2PG

Accountants	Johal & Company Accountants Ltd
	Chartered Accountants & Statutory Auditors
	167 Uxbridge Road
	Hanwell
	London
	W7 3TH

WALDECK PROPERTIES LIMITED

Director's Report

Period from 1 March 2017 to 31 March 2018

The director presents his report and the unaudited financial statements of the company for the period ended 31 March 2018 .

Director

The director who served the company during the period was as follows:

Mr RG Mitchell

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 27 June 2018 and signed on behalf of the board by:

Mr RG Mitchell
Director

WALDECK PROPERTIES LIMITED

Statement of Comprehensive Income

Period from 1 March 2017 to 31 March 2018

	Period from	Period from
	1 Mar 17 to	11 Feb 16 to
	31 Mar 18	28 Feb 17
Note	£	£

Administrative expenses	15,701	15,508
Other operating income	59,134	50,394
	--------	--------
Operating profit	43,433	34,886

Interest payable and similar expenses		31,076	26,666
		--------	--------
Profit before taxation	5	12,357	8,220

Tax on profit	2,293	1,563
	--------	-------
Profit for the financial period and total comprehensive income	10,064	6,657
	--------	-------

All the activities of the company are from continuing operations.

The company has no other recognised items of income and expenses other than the results for the period as set out above.

WALDECK PROPERTIES LIMITED

Statement of Financial Position

31 March 2018

	31 Mar 18		28 Feb 17
Note	£	£	£

Fixed assets

Tangible assets	6		799	456

Current assets

Debtors	7	–	5,456
Cash at bank and in hand		2,713	659
		-------	-------
		2,713	6,115

Creditors: amounts falling due within one year	8	3,493		2,763
		-------		-------
Net current (liabilities)/assets			( 780)	3,352
			----	-------
Total assets less current liabilities			19	3,808
			----	-------
Net assets			19	3,808
			----	-------

Capital and reserves

Called up share capital	1	1
Profit and loss account	18	3,807
	----	-------
Shareholders funds	19	3,808
	----	-------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the period ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 27 June 2018 , and are signed on behalf of the board by:

Mr RG Mitchell
Director

Company registration number: 09999538

WALDECK PROPERTIES LIMITED

Statement of Changes in Equity

Period from 1 March 2017 to 31 March 2018

	Called up share capital	Profit and loss account	Total
	£	£	£
At 11 February 2016	–	–	–

Profit for the period		6,657	6,657
	----	-------	-------
Total comprehensive income for the period	–	6,657	6,657

Issue of shares	1	–	1
Dividends paid and payable	–	( 2,850)	( 2,850)
	----	-------	-------
Total investments by and distributions to owners	1	( 2,850)	( 2,849)

At 28 February 2017	1	3,807	3,808

Profit for the period		10,064	10,064
	----	--------	--------
Total comprehensive income for the period	–	10,064	10,064

Dividends paid and payable	–	( 13,853)	( 13,853)
	----	--------	--------
Total investments by and distributions to owners	–	( 13,853)	( 13,853)

	----	--------	--------
At 31 March 2018	1	18	19
	----	--------	--------

WALDECK PROPERTIES LIMITED

Notes to the Financial Statements

Period from 1 March 2017 to 31 March 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 47 Kimbolton Road, Bedford, MK40 2PG, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements 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 profit or loss.

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

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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	-	25% reducing balance

Impairment of fixed assets

A 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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

4. Employee numbers

The average number of persons employed by the company during the period amounted to 1 (2017: 1 ).

5. Profit before taxation

Profit before taxation is stated after charging:

	Period from	Period from
	1 Mar 17 to	11 Feb 16 to
	31 Mar 18	28 Feb 17
	£	£
Depreciation of tangible assets	266	152
	----	----

6. Tangible assets

	Equipment	Total
	£	£
Cost
At 1 March 2017	608	608
Additions	609	609
	-------	-------
At 31 March 2018	1,217	1,217
	-------	-------
Depreciation
At 1 March 2017	152	152
Charge for the period	266	266
	-------	-------
At 31 March 2018	418	418
	-------	-------
Carrying amount
At 31 March 2018	799	799
	-------	-------
At 28 February 2017	456	456
	-------	-------

7. Debtors

	31 Mar 18	28 Feb 17
	£	£
Trade debtors	–	5,456
	----	-------

8. Creditors: amounts falling due within one year

	31 Mar 18	28 Feb 17
	£	£
Corporation tax	2,293	1,563
Other creditors	1,200	1,200
	-------	-------
	3,493	2,763
	-------	-------

WALDECK PROPERTIES LIMITED

Management Information

Period from 1 March 2017 to 31 March 2018

The following pages do not form part of the financial statements.

WALDECK PROPERTIES LIMITED

Chartered Accountants & Statutory Auditors Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of WALDECK PROPERTIES LIMITED

Period from 1 March 2017 to 31 March 2018

As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the period ended 31 March 2018, which comprise the statement of comprehensive income, statement of financial position, statement of changes in equity and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

Johal & Company Accountants Ltd Chartered Accountants & Statutory Auditors

167 Uxbridge Road Hanwell London W7 3TH

27 June 2018