Wood Green Investments Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 05497555 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 30 September 2016

for

Wood Green Investments Limited

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Tangible assets

2

1,996

2,661

Investment property

3

6,750,000

6,500,000

6,751,996

6,502,661

CURRENT ASSETS

Debtors

253,941

237,580

Cash at bank

75,290

29,067

329,231

266,647

CREDITORS

Amounts falling due within one year

4

264,549

175,078

NET CURRENT ASSETS

64,682

91,569

TOTAL ASSETS LESS CURRENT
LIABILITIES

6,816,678

6,594,230

CREDITORS

Amounts falling due after more than one
year

4

3,391,528

3,527,690

NET ASSETS

3,425,150

3,066,540

CAPITAL AND RESERVES

Called up share capital

5

100

Revaluation reserve

3,147,515

2,911,165

Profit and loss account

277,535

155,275

SHAREHOLDERS' FUNDS

3,425,150

3,066,540

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 12 April 2017 and were signed on its behalf by:

L S Gilbert - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April

2008)

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

Turnover

Turnover represents the total invoice value of rent receivable during the year, excluding VAT where it is

charged.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Investment property

In accordance with the Financial Reporting Standard for Smaller Entities (effective April 2015) investment

properties are revalued annually and the aggregate surplus or deficit is transferred to the revaluation reserve. Any

surplus of deficit not expected to be temporary is written off in the Profit and Loss Account. No depreciation is

provided in respect of freehold properties held as investments.

This is a departure from the requirements of the Companies Act 2006 which requires all properties to be

depreciated. Such properties are held for investment and not for consumption and the director considers that to

depreciate them would not give a true and fair view. Depreciation is only one of the many elements reflected in

the annual valuation of properties and accordingly the amount of depreciation which might otherwise have been

charged cannot be separately identified or quantified. The director considers that this policy results in the

accounts giving a true and fair view.

Deferred tax

The charge for taxation takes into account taxation deferred as a result of timing differences between the

treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in

respect of all timing differences that have originated but not reversed at the balance sheet date. However,

deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that

they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred

taxation is measured on a non-discounted basis at the average tax rates that would apply when the timing

differences are expected to reverse, based on tax rates and laws that have been enacted by the balance sheet

date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2015

and 30 September 2016

5,973

DEPRECIATION

At 1 October 2015

3,312

Charge for year

665

At 30 September 2016

3,977

NET BOOK VALUE

At 30 September 2016

1,996

At 30 September 2015

2,661

3.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 October 2015

6,500,000

Additions

13,650

Revaluations

236,350

At 30 September 2016

6,750,000

NET BOOK VALUE

At 30 September 2016

6,750,000

At 30 September 2015

6,500,000

4.

CREDITORS

Creditors include an amount of £ 3,525,728 (2015 - £ 3,659,928 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

£1

100