WAPPING_LIMITED - Accounts

WAPPING LIMITED - Company Information

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Company Registration No. 03407282 (England and Wales)

WAPPING LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2015

WAPPING LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

WAPPING LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

1,540,002

1,154,643

Current assets

Debtors

326,860

Cash at bank and in hand

614

315,531

614

642,391

Creditors: amounts falling due within one year

(135,383)

(43,139)

Net current (liabilities)/assets

(134,769)

599,252

Total assets less current liabilities

1,405,233

1,753,895

Capital and reserves

Called up share capital

1,766,267

Profit and loss account

(361,034)

(12,372)

Shareholders' funds

1,405,233

1,753,895

For the financial year ended 31 March 2015 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 financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 12 December 2015

M Michalowska

Director

Company Registration No. 03407282

WAPPING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements have been prepared on the going concern basis and the directors confirm their belief in the company's ability to continue as a going concern for the period of at least 12 months after approving the accounts.On that basis, the accounts have been prepared on the going concern basis.

1.2

Turnover

Turnover represents income from rents and service charges receivable and book shop sales net of VAT. Events income is recognised for the period of the rental within the respective accounting period.

1.3

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Freehold

not depreciated

Fixtures, fittings & equipment

25% straight line

Freehold property is not depreciated as in the view of the directors, to do so, would not present a true and fair view of the company's financial position. The protected nature of the freehold property requires it to be maintained in its current condition indefinitely and hence in the view of the directors no impairment in value has occured.

This policy is however not in accordance with the Financial Reporting Standards for Smaller Entities (effective 2008), it is a departure from the general requirement of the companies Act 2006 for all freehold building to be depreciated.

WAPPING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2015

- 3 -

Fixed assets

Tangible assets

Cost

At 1 April 2014

1,163,209

Additions

388,372

At 31 March 2015

1,551,581

Depreciation

At 1 April 2014

8,566

Charge for the year

3,013

At 31 March 2015

11,579

Net book value

At 31 March 2015

1,540,002

At 31 March 2014

1,154,643

Debtors

Debtors include an amount of £0 (2014 - £280,571) which is due after more than one year.

Share capital

2015

2014

Allotted, called up and fully paid

1,766,267 Ordinary shares of £1 each

1,766,267

Ultimate parent company

The ultimate parent undertaking is Womens Playhouse Trust, a charitable company limited by guarantee, incorporated in England and Wales.

There is no ultimate controlling party.