Wardland Property Limited - Period Ending 2019-11-30

Wardland Property Limited

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 3

Wardland Property Limited

(Registration number: 10491661)
Balance Sheet as at 30 November 2019

	Note	2019 £	2018 £
Fixed assets
Investment property	3	476,546	476,546
Current assets
Debtors	4	2,162	-
Cash at bank and in hand		20,387	59,623
		22,549	59,623
Creditors: Amounts falling due within one year	5	(164,005)	(211,637)
Net current liabilities		(141,456)	(152,014)
Net assets		335,090	324,532
Capital and reserves
Called up share capital		100	100
Profit and loss account		334,990	324,432
Total equity		335,090	324,532

For the financial year ending 30 November 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 year 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and Directors' Report has been taken.

Approved and authorised by the Board on 26 August 2020 and signed on its behalf by:
 

.........................................

Mr M P Ward
Director

Wardland Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 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:
7-9 Macon Court
Crewe
Cheshire
CW1 6EA
UK

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 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' 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.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

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 sales/value added tax, returns, rebates and discounts.

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.

Tax

The tax expense for the period comprises current tax.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Wardland Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2019

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

3	Investment properties

	2019 £
At 1 December	476,546

The Director does not believe that it was commercially viable to revalue the property at the balance sheet date and so the property is currently held on the Balance Sheet at cost.

4

Debtors

	2019 £	2018 £
Other debtors	2,162	-
	2,162	-

5

Creditors

Creditors: amounts falling due within one year

	Note	2019 £	2018 £
Due within one year
Other creditors		164,005	211,637