WIIAIR LIMITED - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11070868 (England and Wales)

Unaudited Financial Statements

for the period

20th November 2017 to 31st March 2018

for

WIIAIR LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G J Higgins

R M E Stanborough

REGISTERED OFFICE:

Arbor House

Broadway North

Walsall

West Midlands

WS1 2AN

BUSINESS ADDRESS:

Unit 1

Swinbourne Drive

Braintree

Essex

CM7 2GB

REGISTERED NUMBER:

11070868 (England and Wales)

ACCOUNTANTS:

Bakers

(The practising name of

Baker (Midlands) Limited)

Arbor House

Broadway North

Walsall

WS1 2AN

FIXED ASSETS

Investment property

4

1,762,181

CURRENT ASSETS

Debtors

5

78,685

Cash at bank

1,460

80,145

CREDITORS

Amounts falling due within one year

6

710,992

NET CURRENT LIABILITIES

(630,847

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,131,334

CREDITORS

Amounts falling due after more than one year

7

1,130,322

NET ASSETS

1,012

CAPITAL AND RESERVES

Called up share capital

9

200

Retained earnings

812

SHAREHOLDERS' FUNDS

1,012

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st March 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 31st March 2018 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 27th September 2018 and were signed on its behalf by:

G J Higgins - Director

1.	STATUTORY INFORMATION

WIIAIR 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.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and

assumptions that affect the amounts reported for assets and liabilities at the balance sheet date and the

amounts reported for revenues and expenses during the year. However the nature of estimation means that

actual outcomes could differ from those estimates.

Turnover

Turnover represents United Kingdom rents receivable.

Investment property

The investment property is shown at cost as the property was purchased in January 2018.G Higgins, director of

the company considers that there has been no change in value at 31st March 2018.

Taxation

Taxation for the period 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 period 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.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price.Any losses arising from impairment are recognised in the profit and loss account in other

administrative expenses.

Provisions

Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past

event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be

reliably estimated.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each

balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating

unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable

amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount

where the impairment loss is a revaluation decrease.

Cash and cash equivalents

Cash comprises cash in hand and demand deposits. Cash equivalents are short-term, 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 an insignificant risk of change in value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

4.	INVESTMENT PROPERTY

Total

£

COST

Additions

1,762,181

At 31st March 2018

1,762,181

NET BOOK VALUE

At 31st March 2018

1,762,181

The investment property is subject to a fixed and floating charge.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

78,685

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Bank loans and overdrafts

59,963

Trade creditors

244

Taxation and social security

12,191

Other creditors

638,594

710,992

Included in Other Creditors are accruals of £34,034.

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Bank loans

1,130,322

8.	SECURED DEBTS

The following secured debts are included within creditors:

£

Bank loans

1,190,285

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

A Ordinary

£1

100

100

B Ordinary

£1

100

200

The following shares were issued during the period for cash at par :

100 A Ordinary shares of £1

100 B Ordinary shares of £1