Waterside Developments (Ely) Limited 31/03/2020 iXBRL

Waterside Developments (Ely) Limited 31/03/2020 iXBRL

WATERSIDE DEVELOPMENTS (ELY) LIMITED - Company Information

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Company registration number: 5066146
Waterside Developments (Ely) Limited
Unaudited filleted financial statements
31 March 2020
Waterside Developments (Ely) Limited
Statement of financial position
31st March 2020
2020 2019
Note £ £ £ £
Fixed assets
Tangible assets 4 1,305 1,766
_______ _______
1,305 1,766
Current assets
Debtors 167 47
Cash at bank and in hand 11,417 16,152
_______ _______
11,584 16,199
Creditors: amounts falling due
within one year ( 4,759) ( 5,852)
_______ _______
Net current assets 6,825 10,347
_______ _______
Total assets less current liabilities 8,130 12,113
Provisions for liabilities ( 248) ( 299)
_______ _______
Net assets 7,882 11,814
_______ _______
Capital and reserves
Called up share capital 5 2 2
Profit and loss account 7,880 11,812
_______ _______
Shareholders funds 7,882 11,814
_______ _______
For the year ending 31 March 2020 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 18 November 2020 , and are signed on behalf of the board by:
Mr Anthony John Walton
Director
Company registration number: 5066146
Waterside Developments (Ely) Limited
Notes to the financial statements
Year ended 31st March 2020
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Belvoir House, 1 Rous Road, Newmarket, Suffolk, CB8 8DH.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
4. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1st April 2019 11,948 11,948
Additions 983 983
Disposals ( 8,991) ( 8,991)
_______ _______
At 31st March 2020 3,940 3,940
_______ _______
Depreciation
At 1st April 2019 10,182 10,182
Charge for the year 217 217
Disposals ( 7,764) ( 7,764)
_______ _______
At 31st March 2020 2,635 2,635
_______ _______
Carrying amount
At 31st March 2020 1,305 1,305
_______ _______
At 31st March 2019 1,766 1,766
_______ _______
5. Called up share capital
Issued, called up and fully paid
2020 2019
No £ No £
Ordinary shares of £ 1.00 each 2 2 2 2
_______ _______ _______ _______
6. Related party transactions
Creditors includes a Directors loan account (in credit) balance of £2,362 for the director Mr Anthony John Walton .