Weymouth Ferrybridge Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11442343 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 July 2020

for

WEYMOUTH FERRYBRIDGE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTOR:

R F I Lund

REGISTERED OFFICE:

3rd Floor Middlesborough House

16 Mibblesborough

Colchester

CO1 1QT

BUSINESS ADDRESS:

1 St Loo Court

St Loo Avenue

London

SW3 5TJ

REGISTERED NUMBER:

11442343 (England and Wales)

ACCOUNTANTS:

Menzies LLP

Centrum House

36 Station Road

Egham

Surrey

TW20 9LF

CURRENT ASSETS

Stocks

2,632,764

2,318,732

Debtors

5

2,000

-

Cash at bank

33,895

5,589

2,668,659

2,324,321

CREDITORS

Amounts falling due within one year

6

3,057,718

2,497,200

NET CURRENT LIABILITIES

(389,059

)

(172,879

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(389,059

)

(172,879

)

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

(389,159

)

(172,979

)

SHAREHOLDERS' FUNDS

(389,059

)

(172,879

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 28 May 2021 and were signed by:

R F I Lund - Director

1.	STATUTORY INFORMATION

Weymouth Ferrybridge Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

Management make estimates and assumptions concerning the future. The resulting accounting estimates and judgements by definition, seldom equal the related actual results. There are no estimates and assumptions that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial period.

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.

Financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities.

Short term debtors are measured at transaction price, less any impairment. Long term debtors and loan receivable are measured initially at transaction price, net of transaction costs and are subsequently measured at fair value using the effective interest method, less any impairment.

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of withdrawal. Cash equivalents are readily convertible to known amounts of cash with insignificant risk of change in value.

Short term creditors are measured at transaction price. Long term creditors and loans are measured initially at transaction price, net of transaction costs and are subsequently measured at fair value using the effective interest method.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method.

Taxation

Taxation for the year 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 year 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.20

31.7.19

£

£

Other debtors

2,000

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.20

31.7.19

£

£

Bank loans and overdrafts

2,016,254

1,493,101

Other creditors

1,041,464

1,004,099

3,057,718

2,497,200

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.7.20

31.7.19

£

£

Debentures

1,000,000

1,000,000

Bank loans

2,016,254

1,493,101

3,016,254

2,493,101

Debentures represent loan notes issued that are repayable upon property development completion and sale. Loan notes are secured by way of legal charge over the work in progress of the company.

Loans are secured by way of first legal charge over the work in progress of the company.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.20

31.7.19

value:

£

£

100

Ordinary

£1

100

100

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Weymouth Ferrybridge Limited for the year ended 31 July 2020 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Weymouth Ferrybridge Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Weymouth Ferrybridge Limited and state those matters that we have agreed to state to the director of Weymouth Ferrybridge Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Weymouth Ferrybridge Limited and its director for our work or for this report.

It is your duty to ensure that Weymouth Ferrybridge Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Weymouth Ferrybridge Limited. You consider that Weymouth Ferrybridge Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Weymouth Ferrybridge Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Menzies LLP

Centrum House

36 Station Road

Egham

Surrey

TW20 9LF

28 May 2021