Western Road Warehouse Limited - Period Ending 2019-03-31

Western Road Warehouse Limited - Period Ending 2019-03-31


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Western Road Warehouse Limited

Annual Report and Unaudited Financial Statements
Period from 28 March 2018 to 31 March 2019

Registration number: 11279517

 

Western Road Warehouse Limited

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 6

 

Western Road Warehouse Limited

Balance Sheet

31 March 2019

Note

2019
£

Fixed assets

 

Tangible assets

3

1,380,000

Current assets

 

Debtors

4

7,200

Cash at bank and in hand

 

14,366

 

21,566

Creditors: Amounts falling due within one year

5

(467,084)

Net current liabilities

 

(445,518)

Total assets less current liabilities

 

934,482

Creditors: Amounts falling due after more than one year

5

(934,442)

Net assets

 

40

Capital and reserves

 

Called up share capital

40

Total equity

 

40

 

Western Road Warehouse Limited

Balance Sheet

31 March 2019

For the financial period ending 31 March 2019 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 accounts for the period in question in accordance with section 476; and

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

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 31 October 2019 and signed on its behalf by:
 

.........................................
Mr R B D Galton
Director

   
     

Company Registration Number: 11279517

 

Western Road Warehouse Limited

Notes to the Financial Statements

Period from 28 March 2018 to 31 March 2019

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Towngate House
2-8 Parkstone Road
Poole
Dorset
BH15 2PW

The principal place of business is:
South Sway Orchard
South Sway Lane
Lymington
Hants
SO41 6DP

These financial statements were authorised for issue by the Board on 31 October 2019.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' including Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Western Road Warehouse Limited

Notes to the Financial Statements

Period from 28 March 2018 to 31 March 2019

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Long leasehold property

Not depreciated

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.


Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.



 

 

Western Road Warehouse Limited

Notes to the Financial Statements

Period from 28 March 2018 to 31 March 2019

3

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

Additions

1,380,000

1,380,000

At 31 March 2019

1,380,000

1,380,000

Depreciation

Carrying amount

At 31 March 2019

1,380,000

1,380,000

Included within the net book value of land and buildings above is £1,380,000 in respect of long leasehold land and buildings.
 

4

Debtors

2019
£

Other debtors

7,200

7,200

5

Creditors

Creditors: amounts falling due within one year

Note

2019
£

Due within one year

 

Loans and borrowings

6

2,244

Other creditors

 

464,840

 

467,084

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £2,244.

 

Western Road Warehouse Limited

Notes to the Financial Statements

Period from 28 March 2018 to 31 March 2019

Creditors: amounts falling due after more than one year

Note

2019
£

Due after one year

 

Loans and borrowings

6

934,442

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £934,442.

6

Loans and borrowings

2019
£

Loans and borrowings due after one year

Bank borrowings

934,442

2019
£

Current loans and borrowings

Bank borrowings

2,244

7

Share capital

Allotted, called up and fully paid shares

 

2019

 

No.

£

Ordinary shares of £1 each

40

40