Worple Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03378716 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2018

for

Worple Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R J Bond

C L D Smith

SECRETARY:

Mrs G Bond

REGISTERED OFFICE:

Bristow Burrell

4 Riverview

Walnut Tree Close

Guildford

Surrey

GU1 4UX

REGISTERED NUMBER:

03378716 (England and Wales)

ACCOUNTANTS:

Bristow Burrell

4 Riverview

Walnut Tree Close

Guildford

Surrey

GU1 4UX

FIXED ASSETS

Tangible assets

4

7,317

9,263

CURRENT ASSETS

Stocks

5

69,394

-

Debtors

6

43,771

3,225

Cash at bank

254,833

358,526

367,998

361,751

CREDITORS

Amounts falling due within one year

7

13,308

(1,436

)

NET CURRENT ASSETS

354,690

363,187

TOTAL ASSETS LESS CURRENT LIABILITIES

362,007

372,450

PROVISIONS FOR LIABILITIES

1,330

1,686

NET ASSETS

360,677

370,764

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

360,577

370,664

SHAREHOLDERS' FUNDS

360,677

370,764

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors on 20 November 2018 and were signed on its behalf by:

R J Bond - Director

1.	STATUTORY INFORMATION

Worple Properties 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable,

excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due

allowance for obsolete and slow moving items.

Taxation

Taxation for the year 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 year 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight

line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 June 2017

1,883

26,855

4,598

33,336

Additions

451

-

50

501

At 31 May 2018

2,334

26,855

4,648

33,837

DEPRECIATION

At 1 June 2017

339

21,142

2,592

24,073

Charge for year

270

1,429

748

2,447

At 31 May 2018

609

22,571

3,340

26,520

NET BOOK VALUE

At 31 May 2018

1,725

4,284

1,308

7,317

At 31 May 2017

1,544

5,713

2,006

9,263

5.

STOCKS

2018

2017

£

£

Stocks

69,394

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

43,771

3,225

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Taxation and social security

807

(13,901

)

Other creditors

12,501

12,465

13,308

(1,436

)

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary

£1

100

100

9.	RELATED PARTY DISCLOSURES

At the year end included in other debtors is an inter-company loan to Mentow

Enterprises Limited of £4,991 (2017: £4,991) and an inter-company loan to Altyne

Limited of £46,061 (2017: £7,061). Included in sales is a figure of £27,613 (2017:

£39,920) to Mentow Enterprises Limited and £38715 (2017: £10,855) to Altyne

Limited. Rent of £20,000 (2017: £20,000) was payable to Mentow Enterprises in the

year. Mr R Bond is a director and shareholder of Mentow Enterprises Limited and of

Altyne Limited. The companies are incorporated in England and Wales.

10.	ULTIMATE CONTROLLING PARTY

Mr C Smith and Mr R J Bond are the ultimate controlling parties by virtue of their

ownership of the ordinary share capital of the company.