Willow Lawn Limited - Period Ending 2022-03-31

Willow Lawn Limited

Contents

Company Information	1
Statement of Directors' Responsibilities	2
Balance Sheet	3
Notes to the Unaudited Financial Statements	4 to 7

Willow Lawn Limited

Company Information

Directors

Sylvia Sowter Sarah Dymond Erica Margaret Lonergan Colin James Gurton John Derek Sallaway

Company secretary

Sylvia Sowter

Registered office

Progress House 396 Wilmslow Road Withington Manchester Greater Manchester M20 3BN

Accountants

The Moffatts Partnership LLP Progress House 396 Wilmslow Road Withington Manchester M20 3BN

Willow Lawn Limited

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

•	select suitable accounting policies and apply them consistently;

•	make judgements and accounting estimates that are reasonable and prudent;

•	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Willow Lawn Limited

(Registration number: 01370244)
Balance Sheet as at 31 March 2022

	Note	2022 £	2021 £
Fixed assets
Tangible assets	4	-	5,325
Investment property	5	5,265	-
Investments	6	60	-
		5,325	5,325
Current assets
Debtors	7	220	83
Cash at bank and in hand		313	377
		533	460
Creditors: Amounts falling due within one year	8	(390)	(384)
Net current assets		143	76
Net assets		5,468	5,401
Capital and reserves
Called up share capital	9	14	14
Profit and loss account		5,454	5,387
Shareholders' funds		5,468	5,401

For the financial year ending 31 March 2022 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 has been taken.

Approved and authorised by the Board on 20 June 2022 and signed on its behalf by:
 

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

Sylvia Sowter
Company secretary and director

Willow Lawn Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

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:
Progress House 396 Wilmslow Road
Withington
Manchester
Greater Manchester
M20 3BN
United Kingdom

These financial statements were authorised for issue by the Board on 20 June 2022.

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.

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.

Government grants

Government grants are recognised under the accrual model. Income is recognised in the same period that the related expenditure the grant is intended to compensate is incurred.

Willow Lawn Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Willow Lawn Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2021 - 1).

4	Tangible assets

	Land and buildings £	Total £
Cost or valuation
Depreciation
Carrying amount
At 31 March 2022	-	-
At 31 March 2021	5,325	5,325

Included within the net book value of land and buildings above is £Nil (2021 - £5,325) in respect of freehold land and buildings.
 

5	Investment properties

	2022 £
At 1 April	5,265
At 31 March	5,265

There has been no valuation of investment property by an independent valuer.

6	Investments

Subsidiaries	£
Cost or valuation
At 1 April 2021	60
Provision
Carrying amount
At 31 March 2022	60

Willow Lawn Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

7

Debtors

	2022 £	2021 £
Trade debtors	220	83
	220	83

8

Creditors

Creditors: amounts falling due within one year

	2022 £	2021 £
Due within one year
Accruals and deferred income	390	384

9	Share capital

Allotted, called up and fully paid shares

	2022		2021
	No.	£	No.	£
Ordinary Shares of £1 each	14	14	14	14