Willows Centre Management Limited Filleted accounts for Companies House (small and micro)

WILLOWS CENTRE MANAGEMENT LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 08205910

Willows Centre Management Limited

Filleted Unaudited Financial Statements

For the year ended

31 March 2018

Willows Centre Management Limited

Statement of Financial Position

31 March 2018

	2018		2017
Note	£	£	£

Fixed assets

Tangible assets	4	5,000	5,000
Investments	5	10,000	10,000
		--------	--------
		15,000	15,000

Current assets

Debtors	6	14,863	7,420
Cash at bank and in hand		33,074	17,180
		--------	--------
		47,937	24,600

Creditors: amounts falling due within one year	7	49,749		33,507
		--------		--------
Net current liabilities			1,812	8,907
			--------	--------
Total assets less current liabilities			13,188	6,093
			--------	-------
Net assets			13,188	6,093
			--------	-------

Capital and reserves

Called up share capital	2	2
Profit and loss account	13,186	6,091
	--------	-------
Shareholders funds	13,188	6,093
	--------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Willows Centre Management Limited

Statement of Financial Position (continued)

31 March 2018

These financial statements were approved by the board of directors and authorised for issue on 17 December 2018 , and are signed on behalf of the board by:

A R Morgan

Director

Company registration number: 08205910

Willows Centre Management Limited

Notes to the Financial Statements

Year ended 31 March 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 11 Queens Road, Brentwood, Essex, CM14 4HE.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover represents the amount dervived from the provision of goods and services falling within the company's activities after deduction of trade discount and value added tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

4. Tangible assets

	Land and buildings
	£
Cost
At 1 April 2017 and 31 March 2018	5,000
	-------
Depreciation
At 1 April 2017 and 31 March 2018	–
	-------
Carrying amount
At 31 March 2018	5,000
	-------
At 31 March 2017	5,000
	-------

5. Investments

	Other investments other than loans
	£
Cost
At 1 April 2017 and 31 March 2018	10,000
	--------
Impairment
At 1 April 2017 and 31 March 2018	–
	--------

Carrying amount
At 31 March 2018	10,000
	--------
At 31 March 2017	10,000
	--------

The company purchased the entire issued share capital of Egmont Properties Limited. The profit for the year ended 31 March 2018 was £3,032. Aggregate capital and reserves for 2018 was £13,147.

6. Debtors

	2018	2017
	£	£
Trade debtors	14,863	7,420
	--------	-------

7. Creditors: amounts falling due within one year

	2018	2017
	£	£
Trade creditors	2,411	3,616
Corporation tax	4,479	4,467
Social security and other taxes	2,571	3,177
Other creditors	17,087	–
Other creditors	23,201	22,247
	--------	--------
	49,749	33,507
	--------	--------

8. Directors' advances, credits and guarantees

There are no directors advances, credits and guarantees to be disclosed