Waunceirch Estates Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10240271 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

WAUNCEIRCH ESTATES LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

S R Lopez

Ms K Challacombe

REGISTERED OFFICE:

Glynfelin

Longford Road

Dyffryn

Neath

SA10 7AX

REGISTERED NUMBER:

10240271 (England and Wales)

ACCOUNTANTS:

WBV Limited

The Third Floor,

Langdon House, Langdon Road

SA1 Swansea Waterfront

Swansea

West Glamorgan

SA1 8QY

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only

required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Directors are not required to be filed with the Registrar of

Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of Waunceirch Estates Limited for the year ended 31 December 2017

which comprise the Income Statement, Balance Sheet, 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Waunceirch Estates Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Waunceirch Estates Limited and state those matters that we have agreed to state to the Board of Directors of Waunceirch Estates Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Waunceirch Estates Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Waunceirch Estates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Waunceirch Estates Limited. You consider that Waunceirch Estates Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Waunceirch Estates Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

WBV Limited

The Third Floor,

Langdon House, Langdon Road

SA1 Swansea Waterfront

Swansea

West Glamorgan

SA1 8QY

26 September 2018

FIXED ASSETS

Investment property

4

705,865

705,865

CURRENT ASSETS

Debtors

5

6,051

3,960

Cash at bank

32,782

10,199

38,833

14,159

CREDITORS

Amounts falling due within one year

6

306,227

291,539

NET CURRENT LIABILITIES

(267,394

)

(277,380

)

TOTAL ASSETS LESS CURRENT LIABILITIES

438,471

428,485

CREDITORS

Amounts falling due after more than one year

7

400,759

430,759

NET ASSETS/(LIABILITIES)

37,712

(2,274

)

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

37,612

(2,374

)

SHAREHOLDERS' FUNDS

37,712

(2,274

)

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 26 September 2018 and were signed on its behalf by:

Ms K Challacombe - Director

1.	STATUTORY INFORMATION

Waunceirch Estates 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 represents the fair value of rents received from the tenants of the company's properties,

excluding value added tax.

Investment property

Investment properties are shown at cost. The directors are aware that such properties should be

shown at fair value. However, given that at the balance sheet date there has been relatively little

time from the acquisition date, the directors are satisfied that the original cost and fair value would

not be significantly different. They have therefore adopted original cost as the fair value.

Any aggregate surplus or deficit arising from changes in fair value is recognised in profit and loss.

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.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2016 - 2 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2017

and 31 December 2017

705,865

NET BOOK VALUE

At 31 December 2017

705,865

At 31 December 2016

705,865

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

6,051

3,960

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

30,000

22,365

Taxation and social security

6,593

1,410

Other creditors

269,634

267,764

306,227

291,539

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

400,759

430,759

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

303,463

331,190

8.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

430,759

453,124

The bank loan is secured by a fixed charge over the freehold property owned by the company.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary shares

1

100

100