ACCOUNTS - Final Accounts

The net book value of land and buildings may be further analysed as follows:

WAYHILL INVESTMENTS LIMITED - Company Information

Caseware UK (AP4) 2016.0.208 2016.0.208 2017-09-292017-09-2902909793The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.trueNo description of principal activityfalsefalse2016-04-01Debt 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. Investments in non-convertible preference shares and in non-puttable ordinary and preference shares are measured: at fair value with changes recognised in the Statement of comprehensive income if the shares are publicly traded or their fair value can otherwise be measured reliably; at cost less impairment for all other investments. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date. Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or income as appropriate. The company does not currently apply hedge accounting for interest rate and foreign exchange derivatives. 02909793 2016-04-01 2017-09-29 02909793 2015-04-01 2016-03-31 02909793 2017-09-29 02909793 2016-03-31 02909793 2015-04-01 02909793 5 2016-04-01 2017-09-29 02909793 5 2015-04-01 2016-03-31 02909793 d:Director1 2016-04-01 2017-09-29 02909793 e:Buildings 2016-04-01 2017-09-29 02909793 e:Buildings 2016-03-31 02909793 e:LandBuildings 2016-03-31 02909793 e:CurrentFinancialInstruments 2017-09-29 02909793 e:CurrentFinancialInstruments 2016-03-31 02909793 e:Non-currentFinancialInstruments 2017-09-29 02909793 e:Non-currentFinancialInstruments 2016-03-31 02909793 e:CurrentFinancialInstruments e:WithinOneYear 2017-09-29 02909793 e:CurrentFinancialInstruments e:WithinOneYear 2016-03-31 02909793 e:Non-currentFinancialInstruments e:AfterOneYear 2016-03-31 02909793 e:Non-currentFinancialInstruments e:MoreThanFiveYears 2016-03-31 02909793 e:ShareCapital 2016-04-01 2017-09-29 02909793 e:ShareCapital 2017-09-29 02909793 e:ShareCapital 2016-03-31 02909793 e:ShareCapital 2015-04-01 02909793 e:RevaluationReserve 2016-04-01 2017-09-29 02909793 e:RevaluationReserve 2015-04-01 2016-03-31 02909793 e:RevaluationReserve 2016-03-31 02909793 e:RevaluationReserve 5 2015-04-01 2016-03-31 02909793 e:RetainedEarningsAccumulatedLosses 2016-04-01 2017-09-29 02909793 e:RetainedEarningsAccumulatedLosses 2017-09-29 02909793 e:RetainedEarningsAccumulatedLosses 2015-04-01 2016-03-31 02909793 e:RetainedEarningsAccumulatedLosses 2016-03-31 02909793 e:RetainedEarningsAccumulatedLosses 2015-04-01 02909793 e:AcceleratedTaxDepreciationDeferredTax 2017-09-29 02909793 e:TaxLossesCarry-forwardsDeferredTax 2017-09-29 02909793 e:AcceleratedTaxDepreciationDeferredTax 2016-03-31 02909793 d:FRS102 2016-04-01 2017-09-29 02909793 d:AuditExempt-NoAccountantsReport 2016-04-01 2017-09-29 02909793 d:FullAccounts 2016-04-01 2017-09-29 02909793 d:PrivateLimitedCompanyLtd 2016-04-01 2017-09-29 iso4217:GBP

Wayhill Investments Limited

Registered number: 02909793

Unaudited financial statements

For the period ended 29 September 2017

02909793

29 September 2017

WAYHILL INVESTMENTS LIMITED

REGISTERED NUMBER: 02909793

BALANCE SHEET

AS AT 29 SEPTEMBER 2017

	29 September	31 March
	2017	2016
Note	£	£

Fixed assets
Tangible assets	4		-		1,390,000
Investments			1,000		-
			1,000		1,390,000
Current assets
Debtors: amounts falling due within one year	6	1,035,699		1,078,291
Cash at bank and in hand	7	-		44,790
		1,035,699		1,123,081
Creditors: amounts falling due within one year	8	(454,728)		(1,122,518)
Net current assets			580,971		563
Total assets less current liabilities			581,971		1,390,563
Creditors: amounts falling due after more than one year	9		-		(717,375)
Provisions for liabilities
Deferred tax	11	-		(24,684)
			-		(24,684)
Net assets			581,971		648,504

Capital and reserves
Called up share capital	2,000	1,000
Revaluation reserve	-	620,899
Profit and loss account	579,971	26,605
	581,971	648,504

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 period 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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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02909793

29 September 2017

WAYHILL INVESTMENTS LIMITED

REGISTERED NUMBER: 02909793

BALANCE SHEET (CONTINUED)

AS AT 29 SEPTEMBER 2017

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 comprehensive income 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 on 19 October 2018.

S S Dusanj

Director

The notes on pages 5 to 14 form part of these financial statements.

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02909793

29 September 2017

WAYHILL INVESTMENTS LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE PERIOD ENDED 29 SEPTEMBER 2017

	Called up share capital	Revaluation reserve	Profit and loss account	Total equity
	£	£	£	£
At 1 April 2016	1,000	620,899	26,605	648,504
Comprehensive income for the period
Loss for the period	-	-	(67,533)	(67,533)
Surplus on revaluation of freehold property	-	-	620,899	620,899
Other comprehensive income for the period	-	-	620,899	620,899
Total comprehensive income for the period	-	-	553,366	553,366
Shares issued during the period	1,000	-	-	1,000
Transfer to/from profit and loss account	-	(620,899)	-	(620,899)
Total transactions with owners	1,000	(620,899)	-	(619,899)
At 29 September 2017	2,000	-	579,971	581,971

The notes on pages 5 to 14 form part of these financial statements.

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02909793

29 September 2017

WAYHILL INVESTMENTS LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE PERIOD ENDED 31 MARCH 2016

	Called up share capital	Revaluation reserve	Profit and loss account	Total equity
	£	£	£	£
At 1 April 2015	1,000	-	274,678	275,678
Comprehensive income for the year
Loss for the year	-	-	(88,073)	(88,073)
Surplus on revaluation of freehold property	-	620,899	-	620,899
Other comprehensive income for the year	-	620,899	-	620,899
Total comprehensive income for the year	-	620,899	(88,073)	532,826
Dividends: Equity capital	-	-	(160,000)	(160,000)
Total transactions with owners	-	-	(160,000)	(160,000)
At 31 March 2016	1,000	620,899	26,605	648,504

The notes on pages 5 to 14 form part of these financial statements.

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02909793

29 September 2017

WAYHILL INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 29 SEPTEMBER 2017

1.Accounting policies

1.1

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

Information on the impact of first-time adoption of FRS 102 is given in note 13.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

1.2

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

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

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

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02909793

29 September 2017

WAYHILL INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 29 SEPTEMBER 2017

1.Accounting policies (continued)

1.3

Finance costs

Finance costs are charged to the Statement of comprehensive income 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.

1.4

Borrowing costs

All borrowing costs are recognised in the Statement of comprehensive income in the period in which they are incurred.

1.5

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income, 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 balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

1.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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02909793

29 September 2017

WAYHILL INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 29 SEPTEMBER 2017

1.Accounting policies (continued)

1.6

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property

not depreciated

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.

1.7

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the Balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in the Statement of comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

1.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each Balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

1.9

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

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02909793

29 September 2017

WAYHILL INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 29 SEPTEMBER 2017

1.Accounting policies (continued)

1.10

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.

1.11

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.

1.12

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of comprehensive income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

1.13

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.

Investments in non-convertible preference shares and in non-puttable ordinary and preference shares are measured:

∙at fair value with changes recognised in the Statement of comprehensive income if the shares are publicly traded or their fair value can otherwise be measured reliably;

∙at cost less impairment for all other investments.

Financial assets that are measured at cost and amortised cost are assessed at the end of each

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02909793

29 September 2017

WAYHILL INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 29 SEPTEMBER 2017

1.Accounting policies (continued)

1.13

Financial instruments (continued)

reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or income as appropriate. The company does not currently apply hedge accounting for interest rate and foreign exchange derivatives.

1.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2.	Going concern

As a result of the demerger, the Directors confirm the business will no longer continue to trade.

Employees

The Company has no employees other than the directors, who did not receive any remuneration (2016 - £NIL).

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02909793

29 September 2017

WAYHILL INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 29 SEPTEMBER 2017

4.	Tangible fixed assets

		Freehold property
		£

	At 1 April 2016	1,390,000
	Disposals	(1,390,000)
	At 29 September 2017	-

	Net book value
	At 29 September 2017	-
	At 31 March 2016	1,390,000

Freehold	-	1,390,000
	-	1,390,000

- 10 -

02909793

29 September 2017

WAYHILL INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 29 SEPTEMBER 2017

5.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	Additions	1,000
	At 29 September 2017	1,000

	Net book value
	At 29 September 2017	1,000
	At 31 March 2016	-

- 11 -

02909793

29 September 2017

WAYHILL INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 29 SEPTEMBER 2017

Debtors

					29 September	31 March
					2017	2016
					£	£


Trade debtors	-	3,638
Amounts owed by group undertakings	516,813	-
Amounts owed by related parties	518,886	406,520
Other debtors	-	668,133
	1,035,699	1,078,291

Cash at bank and in hand	-	44,790
	-	44,790

Bank loans	-	27,547
Trade creditors	-	19,360
Amounts owed to group undertakings	454,728	-
Amounts owed to other participating interests	-	976,070
Corporation tax	-	5,187
Other taxation and social security	-	41,265
Other creditors	-	25,075
Accruals and deferred income	-	28,014
	454,728	1,122,518

- 12 -

02909793

29 September 2017

WAYHILL INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 29 SEPTEMBER 2017

Bank loans	-	717,375
	-	717,375

Amounts falling due within one year
Bank loans	-	27,547
	-	27,547


Amounts falling due after more than 5 years
Bank loans	-	717,375
	-	717,375
	-	744,922

- 13 -

02909793

29 September 2017

WAYHILL INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 29 SEPTEMBER 2017

11.	Deferred taxation

		2017
		£

	At beginning of year	(24,684)
	Charged to profit or loss	24,684
	At end of year	-

Accelerated capital allowances	(24,684)	(24,684)
Amounts transferred on demerger	24,684	-
	-	(24,684)

12.	Related party transactions
	On the 19th July 2017 the trade and assets were subject to a demerger agreement. £516,813 was transferred to Dusanj Real Estate Ltd which is the new parent company. £518,886 was transferred to Terracotta Management Ltd, a company which has common directors.

13.	First time adoption of FRS 102 The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or profit or loss.

- 14 -