ACCOUNTS - Final Accounts preparation

WENN SHED HOLDINGS LTD - Company Information

Caseware UK (AP4) 2016.0.208 2016.0.208 2017-12-312017-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueNo description of principal activityfalse2017-01-01 09247819 2017-01-01 2017-12-31 09247819 2015-11-01 2016-12-31 09247819 2017-12-31 09247819 2016-12-31 09247819 c:Director1 2017-01-01 2017-12-31 09247819 d:CurrentFinancialInstruments 2017-12-31 09247819 d:CurrentFinancialInstruments 2016-12-31 09247819 d:Non-currentFinancialInstruments 2017-12-31 09247819 d:CurrentFinancialInstruments d:WithinOneYear 2017-12-31 09247819 d:CurrentFinancialInstruments d:WithinOneYear 2016-12-31 09247819 d:ShareCapital 2017-12-31 09247819 d:ShareCapital 2016-12-31 09247819 d:RetainedEarningsAccumulatedLosses 2017-12-31 09247819 d:RetainedEarningsAccumulatedLosses 2016-12-31 09247819 c:FRS102 2017-01-01 2017-12-31 09247819 c:AuditExempt-NoAccountantsReport 2017-01-01 2017-12-31 09247819 c:FullAccounts 2017-01-01 2017-12-31 09247819 c:PrivateLimitedCompanyLtd 2017-01-01 2017-12-31 09247819 d:KeyManagementIndividualGroup1 2017-01-01 2017-12-31 09247819 d:KeyManagementIndividualGroup1 2017-12-31 iso4217:GBP xbrli:pure

Registered number: 09247819

WENN SHED HOLDINGS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2017

WENN SHED HOLDINGS LIMITED

REGISTERED NUMBER:09247819

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2017

		2017		2016
Note		£		£

FIXED ASSETS
Fixed asset investments	4		135,100		135,100
			135,100		135,100
CURRENT ASSETS
Bank and cash balances		34		738
		34		738
Creditors: amounts falling due within one year	5	(61,726)		(114,515)
NET CURRENT LIABILITIES			(61,692)		(113,777)
TOTAL ASSETS LESS CURRENT LIABILITIES			73,408		21,323

NET ASSETS			73,408		21,323

CAPITAL AND RESERVES
Called up share capital	6	20,000	20,000
Profit and loss account		53,408	1,323
		73,408	21,323

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WENN SHED HOLDINGS LIMITED

REGISTERED NUMBER:09247819

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2017

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

David Wenn

Director

Date: 28 September 2018

The notes on pages 3 to 6 form part of these financial statements.

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WENN SHED HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

1.	GENERAL INFORMATION

Wenn Shed Holdings Limited is a private limited company, limited by shares, incorporated and registered in England within the United Kingdom. The registered office is St Georges Court, St Georges Road, Bristol, BS1 5UG and the registered number is 09247819.

2.ACCOUNTING POLICIES

2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

FINANCE COSTS

Finance costs are charged to the Statement of income and retained earnings over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.4

BORROWING COSTS

All borrowing costs are recognised in the Statement of income and retained earnings in the year in which they are incurred.

2.5

TAXATION

Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

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WENN SHED HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

2.ACCOUNTING POLICIES (continued)

2.6

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

2.7

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.8

CREDITORS

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.9

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

EMPLOYEES

The average monthly number of employees, including directors, during the year was 2 (2016: 2).

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WENN SHED HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

4.	FIXED ASSET INVESTMENTS

		Investments in subsidiary companies
		£
	COST OR VALUATION
	At 1 January 2017	135,100
	At 31 December 2017	135,100

	NET BOOK VALUE
	At 31 December 2017	135,100

5.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2017	2016
		£	£

Bank loans and overdrafts	23,333	43,333
Trade creditors	1,224	21
Amounts owed to group undertakings	33,862	59,791
Corporation tax	-	991
Other taxation and social security	-	181
Other creditors	2,557	9,448
Accruals and deferred income	750	750
	61,726	114,515

The following liabilities were secured:
	2017	2016
	£	£


Bank loans and overdrafts	23,333	43,333
	23,333	43,333

Details of security provided:

The bank loans and overdrafts are secured by way of a fixed and floating charge on the assets of the company.

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WENN SHED HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

6.	SHARE CAPITAL
		2017	2016
		£	£

ALLOTTED, CALLED UP AND FULLY PAID

20,000 (2016: 20,000) Ordinary shares of £1.00 each	20,000	20,000

7.	RELATED PARTY TRANSACTIONS
	At the year end the company owed the directors £2,557 (2016: £9,448).

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