Widley Limited - Accounts to registrar (filleted) - small 18.2
Widley Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| WIDLEY LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD |
| 1 JULY 2017 TO 31 DECEMBER 2018 |
| WIDLEY LIMITED (REGISTERED NUMBER: 10235016) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 JULY 2017 TO 31 DECEMBER 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| WIDLEY LIMITED |
| COMPANY INFORMATION |
| FOR THE PERIOD 1 JULY 2017 TO 31 DECEMBER 2018 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 201 Haverstock Hill |
| London |
| NW3 4QG |
| WIDLEY LIMITED (REGISTERED NUMBER: 10235016) |
| BALANCE SHEET |
| 31 DECEMBER 2018 |
| 2018 | 2017 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Stocks |
| Debtors | 4 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| ( |
) | ( |
) |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on by: |
| WIDLEY LIMITED (REGISTERED NUMBER: 10235016) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 JULY 2017 TO 31 DECEMBER 2018 |
| 1. | STATUTORY INFORMATION |
| Widley Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going concern |
| At the balance sheet date, the company's balance sheet was in negative equity. As such, its ability to remain |
| operational rests on continued financial support from its parent companies. |
| The directors have formed the judgement that at the time of approving the financial statements, there is a |
| reasonable expectation the Company has adequate resources to continue in operational existence for the |
| foreseeable future. For this reason, the directors continue to adopt the going concern basis in preparing the |
| financial statements. |
| Stocks |
| Stock is valued at the lower of cost and net realisable value, excluding value added tax. |
| Cost includes all professional fees directly attributable to the acquisition and development of the property. |
| 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 accounts receivable and payable and loans to related parties. |
| Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are |
| measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to |
| be paid or received. |
| 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 though profit or loss. |
| For financial assets measured at cost less impairment, the impairment loss is measured as the difference between |
| an asset's carrying amount and the 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 reporting date. |
| Taxation |
| Taxation for the period 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. |
| WIDLEY LIMITED (REGISTERED NUMBER: 10235016) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 JULY 2017 TO 31 DECEMBER 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 period 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was NIL (2017 - NIL). |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Other debtors |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade creditors |
| Other creditors |
| 6. | RELATED PARTY DISCLOSURES |
| At the balance sheet date, the Company owed £98,901 to Wainbridge Limited; a company of which Mr A J M |
| Pugh was, at that time, a director. |
| At the balance sheet date, the Company owed £206,148 to Ant Yapi (UK) Limited; a company of which Mr C |
| Karaduman is a director. |
| At the balance sheet date, the Company owed £3,620,210 to Ant Property Investment Ltd; a company which |
| holds a 50% shareholding in Widley Limited and of which Mr C Karaduman is a director. |
| At the balance sheet date, the Company owed £3,620,210 to Skepin Property Limited; a company which holds a |
| 50% shareholding in Widley Limited. |