WARFORD_PARK_LIMITED - Accounts

WARFORD PARK LIMITED - Company Information

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Company Registration number 02430935

WARFORD PARK LIMITED

Abbreviated Accounts

For the year ended 31 December 2014

WARFORD PARK LIMITED

Financial statements for the year ended 31 December 2014

Contents

Pages

Balance sheet

Notes to the financial statements

2-3

WARFORD PARK LIMITED

Abbreviated balance sheet as at 31 December 2014

2014

2013

Notes

Fixed assets

Tangible assets

891,988

325,475

Investments

891,990

325,477

Current assets

Stock

19,800

Debtors

42,290

40,517

Cash at bank and in hand

113,767

68,957

175,857

109,474

Creditors:

amounts falling due within one year

(71,350)

(174,903)

Net current assets/(2013 liabilities)

104,507

(65,429)

Total assets less current liabilities

996,497

260,048

Capital and reserves

Called up share capital

3,400,000

Revaluation reserve

547,090

Deficit on profit and loss account

(2,950,593)

(3,139,952)

Shareholders' funds

996,497

260,048

For the financial year ended 31 December 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 in accordance with the provisions applicable to companies subject to the small companies' regime and the Financial Reporting Standard for Smaller Entities (effective April 2008).

Approved by the board of directors on 10 September 2015 and signed on its behalf.

__________________________ Shahid Beg - Director

Company Registration No: 02430935

The notes on pages 2 to 3 form part of these financial statements.

WARFORD PARK LIMITED

Notes to the abbreviated accounts for the year ended 31 December 2014

Accounting policies

Basis of accounting

The financial statements are prepared on the historical cost basis of accounting and have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The company has taken advantage of the exemption, conferred by Financial Reporting Standard 1, from presenting a cash flow statement as it qualifies as a small company.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Depreciation of tangible fixed assets

Depreciation is provided on all tangible fixed assets at rates calculated to write off the full cost or valuation less estimated residual value of each asset over its estimated useful life. The principal rates in use are:

Reversionary Interests

0.45% on cost

Leasehold property

Over the period of the lease

Stocks

Stock and work in progress is valued at the lower of cost and estimated net realisable value. Cost of raw materials is determined on the first in first out basis. In the case of work in progress and finished goods, cost includes all direct expenditure and production overheads based on the normal level of activity. Net realisable value is the price at which the stock can be released in the normal course of business, less further costs to completion of sale.

Investments

The investments consist of 100% of the share capital of Retirement Management Limited, a company incorporated in England & Wales.

Extraordinary items

2014

2013

Extraordinary loss/profit

(2,200,000)

WARFORD PARK LIMITED

Notes to the abbreviated accounts for the year ended 31 December 2014 (continued)

Fixed assets

Tangible

fixed

Investments

assets

Total

Cost:

At 1 January 2014

533,234

533,236

Additions

30,000

Disposals

(8,228)

Revaluation

547,090

At 31 December 2014

1,102,096

1,102,098

Depreciation:

At 1 January 2014

207,759

Provision for the year

2,349

At 31 December 2014

210,108

Net book value:

At 31 December 2014

891,988

891,990

At 31 December 2013

325,475

325,477

Called-up share capital

2014

2013

2014

2013

Allotted, called up and fully paid

Equity shares:

Ordinary shares of £1 each

3,400,000