WICKORA ESTATES LIMITED Small abridged accounts

WICKORA ESTATES LIMITED - Company Information

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Statement of Consent to Prepare Abridged Financial Statements

All of the members of WICKORA ESTATES LIMITED have consented to the preparation of the abridged statement of income and retained earnings for the year ending 31 December 2017 in accordance with Section 444(2A) of the Companies Act 2006.

COMPANY REGISTRATION NUMBER: 06649536

WICKORA ESTATES LIMITED

Filleted Unaudited Abridged Financial Statements

31 December 2017

WICKORA ESTATES LIMITED

Abridged Financial Statements

Year ended 31 December 2017

Contents	Page

Statement of financial position	1

Notes to the abridged financial statements	3

WICKORA ESTATES LIMITED

Statement of Financial Position

31 December 2017

	2017		2016
Note	£	£	£

Fixed assets

Tangible assets	5		5,283	7,571

Current assets

Debtors	6	21,035	22,567
Cash at bank and in hand		71,596	50,237
		--------	--------
		92,631	72,804

Creditors: amounts falling due within one year	7	71,657		79,291
		--------		--------
Net current assets/(liabilities)			20,974	( 6,487)
			--------	-------
Total assets less current liabilities			26,257	1,084

Provisions

Taxation including deferred tax	750	1,180
	--------	-------
Net assets/(liabilities)	25,507	( 96)
	--------	-------

WICKORA ESTATES LIMITED

Statement of Financial Position (continued)

31 December 2017

	2017		2016
Note	£	£	£

Capital and reserves

Called up share capital	100	100
Profit and loss account	25,407	( 196)
	--------	----
Members funds/(deficit)	25,507	( 96)
	--------	----

These abridged financial statements have been prepared and delivered 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'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.

For the year ending 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

These abridged financial statements were approved by the board of directors and authorised for issue on 10 August 2018 , and are signed on behalf of the board by:

M D OFFER

Director

Company registration number: 06649536

WICKORA ESTATES LIMITED

Notes to the Abridged Financial Statements

Year ended 31 December 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 205 Wells Road, Knowle, Bristol, BS4 2DF. The address of the company's place of business is 32 Long Street, Wotton-under-Edge, Gloucestershire, GL12 7BT.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, '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 and rounded to the nearest £.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: No cash flow statement has been presented for the company. Disclosures in respect of financial instruments have not been presented.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

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:

Fixtures & fittings	-	15% straight line
Motor vehicles	-	25% straight line
Office equipment	-	20% straight line

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 .

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

Contributions 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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year, including the directors, amounted to 6 (2016: 5 ).

5. Tangible assets

	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 Jan 2017 and 31 Dec 2017	24,406	2,500	14,705	41,611
	--------	-------	--------	--------
Depreciation
At 1 January 2017	21,977	2,500	9,563	34,040
Charge for the year	505	–	1,783	2,288
	--------	-------	--------	--------
At 31 December 2017	22,482	2,500	11,346	36,328
	--------	-------	--------	--------
Carrying amount
At 31 December 2017	1,924	–	3,359	5,283
	--------	-------	--------	--------
At 31 December 2016	2,429	–	5,142	7,571
	--------	-------	--------	--------

6. Debtors

	2017	2016
	£	£
Trade debtors	17,484	12,546
Amounts owed by group undertakings and undertakings in which the company has a participating interest	1,065	1,065
Other debtors	2,486	8,956
	--------	--------
	21,035	22,567
	--------	--------

7. Creditors: amounts falling due within one year

	2017	2016
	£	£
Trade creditors	5,301	3,341
Amounts owed to group undertakings and undertakings in which the company has a participating interest	46,342	64,711
Corporation tax	6,859	2,335
Social security and other taxes	11,028	5,381
Pension control	105	75
Other creditors	2,022	3,448
	--------	--------
	71,657	79,291
	--------	--------

8. Related party transactions

The company was under the indirect control of Mr M D Offer and members of his immediate family throughout the current and previous year. Mr Offer is the majority shareholder in the parent company . The company made loans during the year to a company controlled by close relative of Mr M D Offer. These loans amounted to £2,500 of which £Nil was outstanding at 31 December 2017. These loans are interest free.