Winnall Down Farm Two Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03365599 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

WINNALL DOWN FARM TWO LTD

PREVIOUSLY KNOWN AS

BOXIT4BACKUP LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs P M Mccowen

J S B McCowen

SECRETARY:

Mrs P M Mccowen

REGISTERED OFFICE:

Manor Farm

Bighton

Alresford

Hampshire

SO24 9RD

REGISTERED NUMBER:

03365599 (England and Wales)

ACCOUNTANTS:

Martin and Company

25 St Thomas Street

Winchester

Hampshire

SO23 9HJ

CURRENT ASSETS

Debtors

3

-

16,991

Cash at bank

-

907

-

17,898

CREDITORS

Amounts falling due within one year

4

3,000

17,805

NET CURRENT (LIABILITIES)/ASSETS

(3,000

)

93

TOTAL ASSETS LESS CURRENT LIABILITIES

(3,000

)

93

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(3,002

)

91

(3,000

)

93

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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 15 August 2018 and were signed on its behalf by:

J S B McCowen - Director

1.	STATUTORY INFORMATION

Winnall Down Farm Two Ltd 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

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

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.

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade debtors

-

1,111

Amounts owed by group undertakings

-

15,880

-

16,991

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade creditors

-

3,905

Taxation and social security

-

10,287

Other creditors

3,000

3,613

3,000

17,805

5.	FINANCIAL COMMITMENTS, GUARANTEES AND CONTINGENT LIABILITIES

By way of a composite guarantee and debenture dated 5 December 2011, the company has provided an unlimited

guarantee in respect of amounts owed to Mr J S B McCowen by Box-It Data Management Limited, the ultimate

parent undertaking. As at 31 December 2017, borrowings amounted to £2,000,004 (2016: £2,600,000). In the

opinion of the directors, no liability is expected to arise as a result of this guarantee. This charge was satisfied in

full on 17 August 2018.

By way of a legal charge dated 6 November 2014, the company has provided an unlimited guarantee in respect

of amounts owed to Mr A Yew by Box-It Data Management Limited, the ultimate parent undertaking. As at 31

December 2016, borrowings amounted to £1,500,000 (2016: £1,500,000). In the opinion of the directors, no

liability is expected to arise as a result of this guarantee. This charge was satisfied in full on 17 August 2018.

By way of a composite guarantee and debenture dated 25 February 2010, the company has provided an unlimited

guarantee in respect of borrowing undertaken by Box-It Data Management Limited, the ultimate parent

undertaking. The borrowings as at 31 December 2017 amounted to £nil (2016: Nil). In the opinion of the

directors, no liability is expected to arise as a result of this guarantee. This charge was satisfied in full on

17 August 2018.

By way of composite guarantee dated 16 May 2012, the company has provided a guarantee in respect of the

borrowings of Box-It Document Solutions Limited, a fellow subsidiary company. Total net borrowings at 31

December 2017 amounted to £501,194 (2016: £228,218). In the opinion of the directors, no liability is expected

to arise as a result of this guarantee. This charge was satisfied in full on 17 August 2018.

6.	PARENT COMPANY

Box-It Data Management Limited, whose registered office is Winnall Down Farm, Alresford Road, Winchester,

Hampshire, England, SO21 1FP, is the smallest group for which consolidated financial statements, in which

Boxit4backup Limited are included, are prepared.

On 28 February 2018 Winnall Down Farm Three Limited ceased to be part of the Box-It Data Management

Limited group structure.