Waterfall Commercial Properties Ltd - Accounts to registrar (filleted) - small 18.2
Waterfall Commercial Properties Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| WATERFALL COMMERCIAL PROPERTIES LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 JANUARY 2021 TO 31 JULY 2021 |
| WATERFALL COMMERCIAL PROPERTIES LIMITED (REGISTERED NUMBER: 07861727) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 JANUARY 2021 TO 31 JULY 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 | to | 5 |
| WATERFALL COMMERCIAL PROPERTIES LIMITED |
| COMPANY INFORMATION |
| FOR THE PERIOD 1 JANUARY 2021 TO 31 JULY 2021 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| BUSINESS ADDRESS: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 81 Burton Road |
| Derby |
| Derbyshire |
| DE1 1TJ |
| WATERFALL COMMERCIAL PROPERTIES LIMITED (REGISTERED NUMBER: 07861727) |
| BALANCE SHEET |
| 31 JULY 2021 |
| 2021 | 2020 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 7 |
| Fair value reserve | 8 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| WATERFALL COMMERCIAL PROPERTIES LIMITED (REGISTERED NUMBER: 07861727) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 JANUARY 2021 TO 31 JULY 2021 |
| 1. | STATUTORY INFORMATION |
| Waterfall Commercial Properties Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| Taxation |
| Taxation for the period 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 period 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. |
| Financial instruments |
| Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was NIL (2020 - NIL). |
| WATERFALL COMMERCIAL PROPERTIES LIMITED (REGISTERED NUMBER: 07861727) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 JANUARY 2021 TO 31 JULY 2021 |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 January 2021 |
| Disposals | ( |
) |
| At 31 July 2021 |
| NET BOOK VALUE |
| At 31 July 2021 |
| At 31 December 2020 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Prepayments and accrued income |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Corporation tax |
| Directors' current accounts | 256,257 | 304,257 |
| Accruals and deferred income |
| 7. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2021 | 2020 |
| value: | £ | £ |
| Ordinary A | 1p | 38 | 38 |
| Ordinary B | 1p | 27 | 27 |
| Ordinary C | 1p | 25 | 25 |
| Ordinary D | 1p | 10 | 10 |
| 100 | 100 |
| 8. | RESERVES |
| Fair |
| value |
| reserve |
| £ |
| At 1 January 2021 |
| Transfer | (266,210 | ) |
| Deferred tax adjustment on |
| revalued assets | 23,254 |
| At 31 July 2021 |
| WATERFALL COMMERCIAL PROPERTIES LIMITED (REGISTERED NUMBER: 07861727) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 JANUARY 2021 TO 31 JULY 2021 |
| 9. | RELATED PARTY DISCLOSURES |
| The amount owing to the directors by the company at the period end date was £256,257 (2020: £304,257). This is a interest free loan with no fixed payment date. |