|
WILLOW MANAGEMENT LIMITED
REGISTERED NUMBER: 02164936
ABBREVIATED BALANCE SHEET
AS AT 30 MARCH 2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CREDITORS: amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL ASSETS LESS CURRENT LIABILITIES
|
|
|
|
CREDITORS: amounts falling due after more than one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment property reserve
|
|
|
|
|
|
|
|
|
|
|
|
|
The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 30 March 2016 and of its profit for the year in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
Page 1
|
|
WILLOW MANAGEMENT LIMITED
ABBREVIATED BALANCE SHEET (continued)
AS AT 30 MARCH 2016
The abbreviated accounts, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 3 to 5 form part of these financial statements.
Page 2
|
|
WILLOW MANAGEMENT LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 MARCH 2016
1.ACCOUNTING POLICIES
|
|
|
Basis of preparation of financial statements
|
|
|
|
The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention as modified by the revaluation of Investment properties and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
|
|
|
|
|
|
|
|
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.
|
|
|
|
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 of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
|
|
|
|
|
|
|
|
|
|
|
|
Investment properties are included in the Balance sheet at their open market value in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) and are not depreciated. This treatment is contrary to the Companies Act 2006 which states that fixed assets should be depreciated but is, in the opinion of the directors, necessary in order to give a true and fair view of the financial position of the company.
|
2.TANGIBLE FIXED ASSETS
|
|
|
|
|
|
|
At 1 April 2015 and 30 March 2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Page 3
|
|
WILLOW MANAGEMENT LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 MARCH 2016
3.INVESTMENT PROPERTY
|
|
|
|
|
|
|
At 1 April 2015 and 30 March 2016
|
|
|
|
|
|
|
|
|
Annual revaluation surplus/(deficit):
|
|
|
|
|
|
|
|
The 2016 valuations were made by Mr. N.G. Cowley, a director, on an open market value for existing use basis.
|
|
|
|
|
|
At 1 April 2015 and 30 March 2016
|
|
4.CREDITORS:
Amounts falling due within one year
Bank loans amounting to £18,000 (2015: £18,000) are secured by fixed and floating charge on the assets of the Company..
5.CREDITORS:
Amounts falling due after more than one year
Bank loans and overdrafts included at £193,507 (2015: £212,119) are secured by a fixed and floating charge on the company's assets.
6.SHARE CAPITAL
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allotted, called up and fully paid
|
|
|
|
|
|
|
|
|
|
|
|
25,000 Ordinary shares of £1 each
|
|
|
Page 4
|
|
WILLOW MANAGEMENT LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 MARCH 2016
7.RESERVES
|
|
|
Investment property revaluation reserve
|
|
|
|
|
|
|
|
|
|
|
At 1 April 2015 and 30 March 2016
|
|
8.RELATED PARTY TRANSACTIONS
Included in other debtors and other creditors are the following amounts do to/(from) Willow Management Limited.
The loans were unsecured and no interest was charged on the outstanding balances.
9.CONTROLLING PARTY
The company is controlled by N.G. Cowley.
Page 5
|
