North Wales Investments (UK) Limited - Period Ending 2017-12-31
North Wales Investments (UK) Limited - Period Ending 2017-12-31
Registration number:
North Wales Investments (UK) Limited
for the Year Ended 31 December 2017
North Wales Investments (UK) Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
North Wales Investments (UK) Limited
Company Information
Director |
S J Ryan |
Company secretary |
D D Ryan |
Registered office |
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Accountants |
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Page 1 |
North Wales Investments (UK) Limited
(Registration number: 04832617)
Balance Sheet as at 31 December 2017
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2017 |
2016 |
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Fixed assets |
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Investment property |
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net current liabilities |
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( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net liabilities |
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( |
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Capital and reserves |
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Called up share capital |
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Share premium reserve |
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Profit and loss account |
( |
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Total equity |
( |
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For the financial 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.
Director's responsibilities:
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The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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S J Ryan
Director
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North Wales Investments (UK) Limited
Notes to the Financial Statements for the Year Ended 31 December 2017
General information |
The company is a private company limited by share capital incorporated in England and Wales.
The address of its registered office is:
England
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis. The director considers that the company will generate income to meet it liabilities as they fall due.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office equipment |
33.3% straight line |
Investment property
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North Wales Investments (UK) Limited
Notes to the Financial Statements for the Year Ended 31 December 2017
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
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North Wales Investments (UK) Limited
Notes to the Financial Statements for the Year Ended 31 December 2017
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 January 2017 |
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At 31 December 2017 |
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Depreciation |
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At 1 January 2017 |
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At 31 December 2017 |
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Carrying amount |
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At 31 December 2017 |
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Investment properties |
2017 |
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At 1 January |
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Investment properties are shown are their fair value as estimated by the director.
There has been no valuation of investment property by an independent valuer.
Creditors |
Note |
2017 |
2016 |
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Due within one year |
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Taxation and social security |
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Other creditors |
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Due after one year |
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Loans and borrowings |
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2017 |
2016 |
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After more than five years not by instalments |
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Page 5 |
North Wales Investments (UK) Limited
Notes to the Financial Statements for the Year Ended 31 December 2017
Loans and borrowings |
2017 |
2016 |
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Non-current loans and borrowings |
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Bank borrowings |
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Secured debentures |
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Included in the loans and borrowings are the following amounts due after more than five years:
Bank borrowings and debenture loans after five years
Bank loans are secured upon the investment properties with repayment due in 2027.
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