Wheatcroft Land Limited - Limited company - abbreviated - 11.6

Wheatcroft Land Limited - Limited company - abbreviated - 11.6

WHEATCROFT LAND LIMITED - Company Information

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REGISTERED NUMBER: 02451400 (England and Wales)



















Abbreviated Unaudited Accounts

for the Year Ended 30 September 2014

for

Wheatcroft Land Limited

Wheatcroft Land Limited (Registered number: 02451400)






Contents of the Abbreviated Accounts
for the Year Ended 30 September 2014




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

Wheatcroft Land Limited

Company Information
for the Year Ended 30 September 2014







DIRECTOR: Mrs C L Haward





SECRETARY: Mrs C L Haward





REGISTERED OFFICE: The Old School
120 Queens Road
Leicester
LE2 3FL





REGISTERED NUMBER: 02451400 (England and Wales)





ACCOUNTANTS: Bates Weston LLP
Chartered Accountants
The Mills
Canal Street
Derby
DE1 2RJ
Page 1
Wheatcroft Land Limited (Registered number: 02451400)

Abbreviated Balance Sheet
30 September 2014

2014 2013
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 2,005 2,013
Investment property 3 5,705,000 5,705,000
5,707,005 5,707,013

CURRENT ASSETS
Stocks 1,221,300 1,221,270
Debtors 7,189 6,911
Cash at bank 2,573,570 1,554,398
3,802,059 2,782,579
CREDITORS
Amounts falling due within one year 773,227 198,771
NET CURRENT ASSETS 3,028,832 2,583,808
TOTAL ASSETS LESS CURRENT
LIABILITIES
8,735,837
8,290,821

CAPITAL AND RESERVES
Called up share capital 4 233,644 233,644
Revaluation reserve 4,328,798 4,328,798
Capital redemption reserve 116,356 116,356
Profit and loss account 4,057,039 3,612,023
SHAREHOLDERS' FUNDS 8,735,837 8,290,821

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the director on 16 December 2014 and were signed by:




Mrs C L Haward - Director


The notes form part of these abbreviated accounts

Page 2
Wheatcroft Land Limited (Registered number: 02451400)

Notes to the Abbreviated Accounts
for the Year Ended 30 September 2014

1. ACCOUNTING POLICIES

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 sales of property and rental income received, excluding value added tax. Rentals
from operating leases are credited to revenue over the period to which they relate.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

Investment property
Investment property is not depreciated but is revalued annually at its market value, which is contrary to
the requirement of the Companies Act 2006 for all fixed assets to be depreciated. This is necessary
the financial statements to show a true and fair view. Any aggregate surplus or deficit arising from
changes in market value is transferred to a revaluation reserve. The effect of this departure is given in
the investment property notes.

Stocks and work in progress
Work in progress is valued at the lower of cost and net realisable value. The cost of work in progress
includes all construction overheads, depreciation and the attributable proportion of indirect overheads
based on normal activity levels. Net realisable value is based on expected selling value less further
costs expected to be incurred in completion and disposal.

Deferred tax
Provision is made at current rates for taxation deferred in respect of all material timing differences. No
provision is made for potential tax arising on assets which have been revalued, unless there is a
commitment to sell such property at the balance sheet date.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the
company's pension scheme are charged to the profit and loss account in the period to which they
relate.

Options to purchase land
Options are recognised within stock at the lower of cost and net realisable value.

Page 3 continued...
Wheatcroft Land Limited (Registered number: 02451400)

Notes to the Abbreviated Accounts - continued
for the Year Ended 30 September 2014

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 October 2013 40,880
Additions 818
At 30 September 2014 41,698
DEPRECIATION
At 1 October 2013 38,867
Charge for year 826
At 30 September 2014 39,693
NET BOOK VALUE
At 30 September 2014 2,005
At 30 September 2013 2,013

3. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 October 2013
and 30 September 2014 5,705,000
NET BOOK VALUE
At 30 September 2014 5,705,000
At 30 September 2013 5,705,000

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2014 2013
value: £    £   
117,288 A Ordinary £1 117,288 117,288
116,356 B Ordinary £1 116,356 116,356
233,644 233,644

Page 4