Wilbur Developments Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 03324429 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 29 February 2016

for

Wilbur Developments Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

G Nock

M/s C Nock

Ms R Nock

SECRETARY:

M/s S Osborne

REGISTERED OFFICE:

6 Grosvenor Street

London

W1K 4PZ

REGISTERED NUMBER:

03324429 (England and Wales)

ACCOUNTANTS:

Williams & Co

Chartered Accountants

8/10 South Street

Epsom

Surrey

KT18 7PF

FIXED ASSETS

Tangible assets

2

1,911,685

5,551,632

Investments

3

5

1,911,690

5,551,637

CURRENT ASSETS

Stocks

145,550

45,754

Debtors

1,619,281

2,794,284

Cash at bank and in hand

23,105

5,722

1,787,936

2,845,760

CREDITORS

Amounts falling due within one year

4,736,088

7,526,296

NET CURRENT LIABILITIES

(2,948,152

)

(4,680,536

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,036,462

)

871,101

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

(1,036,562

)

871,001

SHAREHOLDERS' FUNDS

(1,036,462

)

871,101

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2016 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 24 November 2016 and were signed on
its behalf by:

G Nock - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The directors consider the going concern basis to be appropriate because in the opinion of the Board,

the company will continue to obtain sufficient funding to enable it to pay its debts as they arise.If the

company were unable to obtain this funding and this did affect the ability of the company to trade going

forward, then the directors recognise that adjustments to the accounts would have to be made to some

assets to reduce their value to a realisable amount and there may be further liabilities to provide

against.

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated

useful life.

Plant and machinery - 25% on cost

Investment properties are carried at cost and not depreciated.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at

the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at

the operating result.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 March 2015

5,574,558

Additions

889

Disposals

(3,632,975

)

At 29 February 2016

1,942,472

DEPRECIATION

At 1 March 2015

22,926

Charge for year

7,861

At 29 February 2016

30,787

NET BOOK VALUE

At 29 February 2016

1,911,685

At 28 February 2015

5,551,632

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 March 2015

and 29 February 2016

5

NET BOOK VALUE

At 29 February 2016

5

At 28 February 2015

5

The company's investments at the Balance Sheet date in the share capital of companies include the

following:

Wilbur Racing Limited

Nature of business: Horse owning, breeding and training

%

Class of shares:

holding

Ordinary

100.00

31.5.16

31.5.15

£

Aggregate capital and reserves

(877,854

)

(834,223

)

Loss for the year

(43,630

)

(168,814

)

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

£1

100