Willowfox Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 05261134 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 August 2016

for

Willowfox Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

A Mussarat

G E Lake

SECRETARY:

N G E Lake

REGISTERED OFFICE:

Universal Square

Building 2

3rd Floor

Devonshire Street North

Manchester

M12 6JH

REGISTERED NUMBER:

05261134 (England and Wales)

ACCOUNTANTS:

Uppal & Warr

Chartered Accountants

452 Manchester Road

Heaton Chapel

Stockport

SK4 5DL

CURRENT ASSETS

Debtors

17,761,497

18,311,965

Cash at bank and in hand

3,609

3,364

17,765,106

18,315,329

CREDITORS

Amounts falling due within one year

12,885,831

13,116,219

NET CURRENT ASSETS

4,879,275

5,199,110

TOTAL ASSETS LESS CURRENT
LIABILITIES

4,879,275

5,199,110

CAPITAL AND RESERVES

Called up share capital

2

Profit and loss account

4,879,273

5,199,108

SHAREHOLDERS' FUNDS

4,879,275

5,199,110

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 15 February 2017 and were signed on its behalf
by:

G E Lake - Director

1.	ACCOUNTING POLICIES

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 rental income from the property.

Tangible fixed assets

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

Deferred tax

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

sheet date.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

Investments properties

Investment properties are accounted for in accordance with Statement of Standard Accounting Practice No 19,

with the effect that:

The valuation of investment properties is reviewed annually and any resultant surplus or deficit arising is

transfered to a revaluation reserve unless a deficit, or its reversal on an individual investment property is

expected to be permanent, in which case it is recognised in the profit and loss account for the year.

No depreciation or amortisation is provided in respect of freehold or leasehold investment properties. The

directors consider that this accounting policy results in the financial statements giving a true and fair view.

Depreciation or amortisation is only one of many factors reflected in the annual revaluation and the amount

which might otherwise have been shown cannot be separately identified or quantified. In case where a deficit on

a revaluation occurs which is in excess of its revaluation reserve,the amount by which the deficit exceeds the

reserve is charged to profit and loss account.Taxation is not provided for on any revaluation surplus until a

property is sold and contracts thereon exchanged.

2.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.16

31.8.15

value:

£

2

Ordinary

£1

2