Willenhall Regeneration Company Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05003088 (England and Wales)

Willenhall Regeneration Company Limited

Unaudited Financial Statements

for the Period 1st October 2017 to 30th June 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M Dransfield

A C Gallagher

G H Gosling

S J Stead

SECRETARY:

Mrs P M Gregory

REGISTERED OFFICE:

Dransfield House

2 Fox Valley Way

Fox Valley

Sheffield

South Yorkshire

S36 2AB

REGISTERED NUMBER:

05003088 (England and Wales)

ACCOUNTANTS:

Smailes Goldie

Chartered Accountants

Regent's Court

Princess Street

Hull

East Yorkshire HU2 8BA

CURRENT ASSETS

Stocks

3

-

1,513

Cash at bank

19,134

4,368

19,134

5,881

CREDITORS

Amounts falling due within one year

4

18,984

1,150

NET CURRENT ASSETS

150

4,731

TOTAL ASSETS LESS CURRENT LIABILITIES

150

4,731

CAPITAL AND RESERVES

Called up share capital

5

150

150

Retained earnings

-

4,581

SHAREHOLDERS' FUNDS

150

4,731

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30th June 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 30th June 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 9th July 2018 and were signed on its behalf by:

M Dransfield - Director

A C Gallagher - Director

1.	STATUTORY INFORMATION

Willenhall Regeneration Company Limited is a private company, limited by shares , registered in

England and Wales. The company's registered number and registered office address can be found on

the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared in accordance with applicable accounting standards

including Section 1A "Small Entities" of Financial Reporting Standard 102 the Financial Reporting

Standard Applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The

financial statements have been prepared on a going concern basis under the historical cost

convention.

The significant accounting policies applied in the preparation of these financial statements are set out

below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover

Turnover is the amount, excluding value added tax, receivable in the ordinary course of business for

goods supplied as a principal and for services provided.

Stock and work in progress

Stocks of development land and in work in progress are stated at the lower of cost and net realisable

value. Cost consists of that expenditure which has been incurred based on normal levels of activity and

net realisable value means estimated selling price less all further costs to completion.

Contract work in progress is stated at cost net of amounts transferred to cost of sales less any

foreseeable losses and progress payments received and receivable not matched with turnover. A

foreseeable loss is that which is currently estimated to arise over the duration of any contract,

irrespective of the amount of work carried out at the balance sheet date.

Profit on long term contracts is recognised when the outcome of contracts can be assessed with

reasonable certainty and is that amount which is estimated to fairly reflect the profit arising up to the

accounting date. Profit on long term contracts is recognised in the profit and loss account as the

difference between the reported turnover and the related costs.

Tax

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss)

for the current or past recording periods. It is measured at the amount expected to be paid or

recovered using the tax rates and laws that have been enacted or substantively enacted by the

balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the

financial statements of current and previous periods. It is recognised in respect of all timing

differences, with certain exceptions. Timing differences are differences between taxable profits and

total comprehensive income as stated in the financial statements that arise from the inclusion of

income and expense in tax assessments in periods different from those in which they are recognised

in the financial statements. 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 substantially enacted

by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax

on revalued non-depreciable tangible fixed assets and investment properties is measured using the

rates and allowances that apply to the sale of the asset.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are

recorded at transaction price. Any losses arising from impairment are recognised in the statement of

comprehensive income in other administrative expenses.

3.

STOCKS

2018

2017

£

£

Work in progress

-

1,513

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

2,370

-

Taxation and social security

3,558

-

Other creditors

13,056

1,150

18,984

1,150

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

50

'A' Ordinary

£1

50

50

50

'B' Ordinary

£1

50

50

50

'C' Ordinary

£1

50

50

150

150

6.	CONTROL RELATIONSHIPS

The company is not under the control of any one party.