Wavensmere Homes Limited - Accounts

Wavensmere Homes Limited - Accounts

WAVENSMERE HOMES LIMITED - Company Information

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Registered number
09770187
Wavensmere Homes Limited
Report and Unaudited Accounts
30 September 2017
Wavensmere Homes Limited
Registered number: 09770187
Directors' Report
The directors present their report and accounts for the year ended 30 September 2017.
Principal activities
The company's principal activity during the year continued to be the new build development of six executive homes and associated planning activities.
Directors
The following persons served as directors during the year:
Laraine Dickens
Roger James Dickens
John Sebastian Whateley (appointed 25 April 2017)
John Grahame Whateley (appointed 25 April 2017)
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 27 June 2018 and signed on its behalf.
R J Dickens
Director
Wavensmere Homes Limited
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Wavensmere Homes Limited for the year ended 30 September 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Wavensmere Homes Limited for the year ended 30 September 2017 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
www.icaew.com/en/members/regulations-standards-and-guidance
Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF.
Blenheim Partners
Chartered Accountants
Cedar Court
221 Hagley Road
Hayley Green
West Midlands
B63 1ED
27 June 2018
Wavensmere Homes Limited
Profit and Loss Account
for the year ended 30 September 2017
2017 2016
£ £
Administrative expenses (1,583) -
Operating loss (1,583) -
Interest payable (12,667) (849)
Loss before taxation (14,250) (849)
Tax on loss - -
Loss for the financial year (14,250) (849)
Wavensmere Homes Limited
Registered number: 09770187
Balance Sheet
as at 30 September 2017
Notes 2017 2016
£ £
Current assets
Stocks 2,831,415 2,513,536
Debtors 2 1,028 9,227
Cash at bank and in hand 23,588 -
2,856,031 2,522,763
Creditors: amounts falling due within one year 3 (2,870,930) (2,523,512)
Net current liabilities (14,899) (749)
Net liabilities (14,899) (749)
Capital and reserves
Called up share capital 200 100
Profit and loss account (15,099) (849)
Shareholders' funds (14,899) (749)
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 members have 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 and delivered 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.
R J Dickens
Director
Approved by the board on 27 June 2018
Wavensmere Homes Limited
Statement of Changes in Equity
for the year ended 30 September 2017
Share Profit Total
capital and loss
account
£ £ £
At 9 September 2015 - - -
Loss for the period (849) (849)
Shares issued 100 100
At 30 September 2016 100 (849) (749)
At 1 October 2016 100 (849) (749)
Loss for the financial year (14,250) (14,250)
Shares issued 100 100
At 30 September 2017 200 (15,099) (14,899)
Wavensmere Homes Limited
Notes to the Accounts
for the year ended 30 September 2017
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the purchaser. Turnover from the sale of residential properties is recognised at the fair value of the consideration received or receivable on legal completion.
Stocks
Stocks comprises a freehold interest in property. Stock is valued at the lower of cost and net realisable value. cost is detemined on an actual basis and net realisable value is based on estimated selling price less further anticipated costs excluding interest costs,
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.
2 Debtors 2017 2016
£ £
Other debtors 1,028 9,227
3 Creditors: amounts falling due within one year 2017 2016
£ £
Trade creditors 88,584 43,667
Other creditors 2,782,346 2,479,845
2,870,930 2,523,512
4 Related party transactions 2017 2016
£ £
Laraine Dickens
Director and shareholder
Formal loan (2,478,996) (2,749,845)
Deeble Ventures One Limited
Shareholder
Formal loan (125,000) -
Operational loan (81,667) -
BJD (GB) Limited
Controlled by director
Operational loan 81,667 -
The formal loan balances were secured by fixed and floating charges over the company's assets.
5 Controlling party
There is no ultimate controlling party..
6 Other information
Wavensmere Homes Limited is a private company limited by shares and incorporated in England. Its registered office is:
Lower Wavensmere Farm
off Wawensmere Road
Wooton Wawen
Henley-in-Arden
B95 6BP
Wavensmere Homes Limited
Detailed profit and loss account
for the year ended 30 September 2017
This schedule does not form part of the statutory accounts
2017 2016
£ £
Administrative expenses (1,583) -
Operating loss (1,583) -
Interest payable (12,667) (849)
Loss before tax (14,250) (849)
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