Willow Properties Warrington Limited - Accounts to registrar (filleted) - small 18.2
Willow Properties Warrington Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
WILLOW PROPERTIES WARRINGTON LIMITED |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019 |
WILLOW PROPERTIES WARRINGTON LIMITED (REGISTERED NUMBER: 09749405) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2019 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
WILLOW PROPERTIES WARRINGTON LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2019 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
The Exchange |
5 Bank Street |
Bury |
BL9 0DN |
WILLOW PROPERTIES WARRINGTON LIMITED (REGISTERED NUMBER: 09749405) |
STATEMENT OF FINANCIAL POSITION |
31 MARCH 2019 |
2019 | 2018 |
Notes | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
NET ASSETS/(LIABILITIES) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Other reserves |
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. |
WILLOW PROPERTIES WARRINGTON LIMITED (REGISTERED NUMBER: 09749405) |
STATEMENT OF FINANCIAL POSITION - continued |
31 MARCH 2019 |
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: |
WILLOW PROPERTIES WARRINGTON LIMITED (REGISTERED NUMBER: 09749405) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2019 |
1. | STATUTORY INFORMATION |
Willow Properties Warrington Limited is a private company, limited by shares, registered in England and Wales. |
The company's registration number is 09749405. The registered office is The Exchange, 5 Bank Street, Bury, |
Lancashire, BL9 0DN. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The company is dependent upon the support of the directors who provide finance via their loan accounts. The |
directors have confirmed that they will leave sufficient funds within the company to serve its ongoing |
requirements for at least the next twelve months. As such, no adjustments have been made to the financial |
statements should this support be withdrawn. For these reasons they continue to adopt the going concern basis of |
accounting in preparing the annual financial statements. |
Significant judgements and estimates |
Estimates and judgements are continually evaluated and are based on historical experience and other factors, |
including expectations of future events that are believed to be reasonable under the circumstances. Although |
these estimates are based on management's best knowledge of the amount, events or actions, actual results |
ultimately may differ from those estimates. |
The estimates are continually evaluated. Revisions to accounting estimates are recognised in the period in which |
the estimate is revised. |
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying |
amount of assets and liabilities are outlined below. |
Determining the fair value of investment properties as at the year end date. |
Revenue |
Rental income is recognised on a straight line basis over the term of the lease. Lease incentives are recognised as |
a reduction to the income over the term of the lease. |
Property, plant and equipment |
Plant and machinery etc | - |
The residual values, estimated useful lives and depreciation method of property, plant and equipment are |
reviewed, and adjusted as appropriate, at each statement of financial position date. The effects of any revision |
are recognised in the income statement when the change arises. |
Investment properties |
Investment properties are recognised at purchase price which is deemed to be the fair value. Revaluation |
surpluses are recognised in the income statement. Deferred taxation is provided on these gains at the rate |
expected to apply when the property is sold. |
WILLOW PROPERTIES WARRINGTON LIMITED (REGISTERED NUMBER: 09749405) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
2. | ACCOUNTING POLICIES - continued |
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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position 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. |
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial |
assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third |
parties and loans to related parties. |
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 |
in the income statement. |
Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
WILLOW PROPERTIES WARRINGTON LIMITED (REGISTERED NUMBER: 09749405) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
4. | PROPERTY, PLANT AND EQUIPMENT |
Plant and |
machinery |
etc |
£ |
Cost |
At 1 April 2018 |
and 31 March 2019 |
Depreciation |
At 1 April 2018 |
Charge for year |
At 31 March 2019 |
Net book value |
At 31 March 2019 |
At 31 March 2018 |
5. | INVESTMENT PROPERTY |
Total |
£ |
Fair value |
At 1 April 2018 |
Revaluations | 7,959 |
At 31 March 2019 |
Net book value |
At 31 March 2019 |
At 31 March 2018 |
Fair value at 31 March 2019 is represented by: |
£ |
Valuation in 2018 | 7,959 |
Cost | 668,926 |
676,885 |
The Investment Properties have been valued by the Directors |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
Prepayments and accrued income |
WILLOW PROPERTIES WARRINGTON LIMITED (REGISTERED NUMBER: 09749405) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade creditors |
Other creditors |
Director's loan account | 72,219 |
Accruals and deferred income |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2019 | 2018 |
£ | £ |
Mortgages | 498,438 | 498,020 |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Mortgages |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2019 | 2018 |
£ | £ |
Mortgages |
Mortgages are secured on the related properties. |