Willowfox Limited - Limited company - abbreviated - 11.0.0

Willowfox Limited - Limited company - abbreviated - 11.0.0


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REGISTERED NUMBER: 05261134(England and Wales)















Abbreviated Unaudited Accounts for the Year Ended 31 August 2014

for

Willowfox Limited

Willowfox Limited (Registered number: 05261134)






Contents of the Abbreviated Accounts
for the Year Ended 31 August 2014




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

Willowfox Limited

Company Information
for the Year Ended 31 August 2014







DIRECTORS: A Mussarat
G E Lake





SECRETARY: N G E Lake





REGISTERED OFFICE: MCR House
341 Great Western Street
Rusholme
Manchester
M14 4HB





REGISTERED NUMBER: 05261134(England and Wales)





ACCOUNTANTS: Uppal & Warr
Chartered Accountants
452 Manchester Road
Heaton Chapel
Stockport
SK4 5DL

Willowfox Limited (Registered number: 05261134)

Abbreviated Balance Sheet
31 August 2014

31.8.14 31.8.13
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 38,000,000 44,625,000

CURRENT ASSETS
Debtors 15,653,526 18,276,332
Cash at bank and in hand 905,982 895,848
16,559,508 19,172,180
CREDITORS
Amounts falling due within one year 51,991,227 50,984,765
NET CURRENT LIABILITIES (35,431,719 ) (31,812,585 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,568,281

12,812,415

CAPITAL AND RESERVES
Called up share capital 3 2 2
Revaluation reserve 13,301,301 19,926,301
Profit and loss account (10,733,022 ) (7,113,888 )
SHAREHOLDERS' FUNDS 2,568,281 12,812,415

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the Board of Directors on 26 February 2015and were signed on its behalf
by:





G E Lake- Director


Willowfox Limited (Registered number: 05261134)

Notes to the Abbreviated Accounts
for the Year Ended 31 August 2014

1. ACCOUNTING POLICIES

Accounting convention
The financial statements have been prepared under the historical cost convention as modified by the revaluation
of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April
2008).

Turnover
Turnover represents rental income from the property.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - not provided
Security equipment - at varying rates
Fixtures and fittings - at varying rates
Office equipment - at varying rates

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

Investments properties
Investment properties are accounted for in accordance with Statement of Standard Accounting Practice No 19,
with the effect that:

The valuation of investment properties is reviewed annually and any resultant surplus or deficit arising is
transfered to a revaluation reserve unless a deficit, or its reversal on an individual investment property is
expected to be permanent, in which case it is recognised in the profit and loss account for the year.

No depreciation or amortisation is provided in respect of freehold or leasehold investment properties. The
directors consider that this accounting policy results in the financial statements giving a true and fair view.
Depreciation or amortisation is only one of many factors reflected in the annual revaluation and the amount
which might otherwise have been shown cannot be separately identified or quantified. In case where a deficit on
a revaluation occurs which is in excess of its revaluation reserve,the amount by which the deficit exceeds the
reserve is charged to profit and loss account.Taxation is not provided for on any revaluation surplus until a
property is sold and contracts thereon exchanged.

2. TANGIBLE FIXED ASSETS
Total
£   
COST OR VALUATION
At 1 September 2013 45,182,639
Revaluations (6,625,000 )
At 31 August 2014 38,557,639
DEPRECIATION
At 1 September 2013
and 31 August 2014 557,639
NET BOOK VALUE
At 31 August 2014 38,000,000
At 31 August 2013 44,625,000

Willowfox Limited (Registered number: 05261134)

Notes to the Abbreviated Accounts - continued
for the Year Ended 31 August 2014

3. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.14 31.8.13
value: £    £   
2 Ordinary £1 2 2