Westgate Bath Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 08697932 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE PERIOD 19 SEPTEMBER 2013 TO 30 SEPTEMBER 2014

FOR

WESTGATE BATH LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

K P Webb

E J Ware

REGISTERED OFFICE:

45 Oakfield Road

Clifton

Bristol

BS8 2AX

REGISTERED NUMBER:

08697932 (England and Wales)

ACCOUNTANTS:

Gordon Wood Scott & Partners Limited

Chartered Accountants

Dean House

94 Whiteladies Road

Clifton

Bristol

BS8 2QX

FIXED ASSETS

Tangible assets

2

498,668

CURRENT ASSETS

Debtors

6,977

Cash at bank

85,051

92,028

CREDITORS

Amounts falling due within one year

616,633

NET CURRENT LIABILITIES

(524,605

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(25,937

)

CAPITAL AND RESERVES

Called up share capital

3

4

Profit and loss account

(25,941

)

SHAREHOLDERS' FUNDS

(25,937

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2014.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 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 19 June 2015 and were signed on its behalf by:

E J Ware - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

At the year end the company was in an insolvent position. The company has obtained additional finance shortly

after the year end to allow it to complete its property under construction which is now occupied and yielding

rental income.

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Tangible fixed assets

Although the Companies Act would normally require the systematic annual depreciation of fixed assets, the

directors believe that the policy of not providing depreciation on Properties under Construction is necessary in

order for the accounts to give a true and fair view, since the current value of these items, and changes to that

current value, are of prime importance rather than a calculation of systematic annual depreciation. Depreciation

is only one of many factors reflected in the annual valuation and the amount which might otherwise have been

shown cannot be separately identified or quantified.

Properties under Construction

Properties under Construction which will become Investment Properties (when completed) are stated at the lower

of cost and net realisable value. Net realisable value is based on the estimated value at completion less the costs

expected to be incurred to completion less the costs of disposal.

Deferred tax

Deferred tax is provided on the liability method to take account of timing differences between the treatment of

certain items for accounts purposes and their treatment for tax purposes. Tax deferred is accounted for in respect

of all material timing differences that have originated but not reversed at the balance sheet date other than for

timing differences arising from the revaluation of tangible fixed assets. Deferred tax assets and liabilities are not

discounted.

Tax on losses available to carry forward against future profits is recognised as a deferred tax asset, where on the

basis of available evidence it is more likely than not that there will be taxable profits in the future against which

the deferred tax asset can be offset.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

498,668

At 30 September 2014

498,668

NET BOOK VALUE

At 30 September 2014

498,668

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

4

Ordinary

£1

4