Wheatleys (SPV) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11244813 (England and Wales)

Unaudited Financial Statements

for the Period 1 August 2018 to 30 June 2019

for

Wheatleys (SPV) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J Saunders

C J O'Connell

REGISTERED OFFICE:

22-24 High Street

Swindon

Wiltshire

SN1 3EP

REGISTERED NUMBER:

11244813 (England and Wales)

ACCOUNTANTS:

Morley & Co (UK) Ltd

Chartered Certified Accountants,

2 Cricklade Court

Old Town

Swindon

Wiltshire

SN1 3EY

CURRENT ASSETS

Stocks

2,905,749

Debtors

4

27,597

Cash at bank and in hand

466,386

3,399,732

CREDITORS

Amounts falling due within one year

5

2,512,523

NET CURRENT ASSETS

887,209

TOTAL ASSETS LESS CURRENT LIABILITIES

887,209

CREDITORS

Amounts falling due after more than one year

6

900,000

NET LIABILITIES

(12,791

)

CAPITAL AND RESERVES

Called up share capital

200

Retained earnings

(12,991

)

(12,791

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 2019 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 applicable to companies subject to the small companies regime.

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 28 January 2020 and were signed on its behalf by:

C J O'Connell - Director

1.	STATUTORY INFORMATION

Wheatleys (SPV) Ltd 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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 the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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.

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.

Financial instruments

Basic financial instruments, including trade and other receivables and payables, cash and bank balances, bank

loans and loans to or from other group companies are initially recognised at transaction price, unless the

arrangement constitutes a financing transaction, where the transaction is measured at the present value of the

future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost

using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

4.

DEBTORS

£

Amounts falling due within one year:

Other debtors

24,550

£

Amounts falling due after more than one year:

Other debtors

3,047

Aggregate amounts

27,597

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

30,828

Other creditors

2,481,695

2,512,523

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Other creditors

900,000

7.	GOING CONCERN

The directors have considered the cash flow and profitability of the business and, since the directors are willing

to continue to provide their support and expect trading profits to be made in future periods, the company is

considered to be a going concern. The directors are also of the opinion that the company has sufficient working

capital to continue to trade and produce a positive balance sheet.