Whetley Investments Limited - Limited company - abbreviated - 11.6
Whetley Investments Limited - Limited company - abbreviated - 11.6
| REGISTERED NUMBER: |
| ABBREVIATED UNAUDITED ACCOUNTS |
| FOR THE YEAR ENDED 31 MARCH 2014 |
| FOR |
| WHETLEY INVESTMENTS LIMITED |
| WHETLEY INVESTMENTS LIMITED (REGISTERED NUMBER: 06131831) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 MARCH 2014 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| WHETLEY INVESTMENTS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2014 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| WHETLEY INVESTMENTS LIMITED (REGISTERED NUMBER: 06131831) |
| ABBREVIATED BALANCE SHEET |
| 31 MARCH 2014 |
| 2014 | 2013 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 2 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 3 |
| Profit and loss account | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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 were approved by the Board of Directors on by: |
| WHETLEY INVESTMENTS LIMITED (REGISTERED NUMBER: 06131831) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 MARCH 2014 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The company's accounts have been prepared on a going concern basis. The company is reliant for finance upon |
| loans provided by its bankers. During the year the company's bankers appointed Receivers under the Law of |
| Property Act 1925. The directors are currently in negotiation with the company's bankers to secure refinancing of |
| the company's bank borrowings and are optimistic of a successful outcome in the near future. |
| Notwithstanding the above, related parties, upon which the company is reliant for its day to day funding, |
| continue to indicate their willingness to support the company by not requiring repayment of amounts due to them |
| until such time as the company is in a position to repay them and subordinating debts due to themselves to those |
| due to third parties. |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention as modified by the revaluation |
| of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April |
| 2008). |
| Turnover |
| Turnover represents invoiced sales of properties. |
| Stocks |
| Stocks of properties held for resale are valued at the lower of cost and net realisable value, after making due |
| allowance for slow moving items. |
| 2. | CREDITORS |
| Creditors include an amount of £ |
| 3. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2014 | 2013 |
| value: | £ | £ |
| Ordinary | £1 |
| 4. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31 March 2014 and |
| 31 March 2013: |
| 2014 | 2013 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts repaid |
| Balance outstanding at end of year |
| Balance outstanding at start of year |
| Amounts repaid |
| Balance outstanding at end of year |
| WHETLEY INVESTMENTS LIMITED (REGISTERED NUMBER: 06131831) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2014 |
| 4. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued |
| Balance outstanding at start of year |
| Amounts repaid |
| Balance outstanding at end of year |
| The advances are interest free with no set terms of repayment and are disclosed within 'Other debtors' at note 5 |
| above. |
| 5. | ULTIMATE CONTROLLING PARTY |
| The company is under the control of its directors subject to the requirements of P. M. Lyon and R. J. Weston of |
| Mazars LLP, Cartwright House, Tottle Road, Nottingham, NG12 1RT in their capacity as Receivers appointed |
| by the company's bankers under the Law of Property Act 1925. |