Westgate Bath Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 08697932 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2016

FOR

WESTGATE BATH LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

K P Webb

E J Ware

REGISTERED OFFICE:

45 Oakfield Road

Clifton

Bristol

BS8 2AX

REGISTERED NUMBER:

08697932 (England and Wales)

ACCOUNTANTS:

Gordon Wood Scott & Partners Limited

Chartered Accountants

Dean House

94 Whiteladies Road

Clifton

Bristol

BS8 2QX

FIXED ASSETS

Investment property

2

1,968,600

1,760,000

CURRENT ASSETS

Debtors

17,452

3,646

Cash at bank

24,661

20,976

42,113

24,622

CREDITORS

Amounts falling due within one year

385,932

445,871

NET CURRENT LIABILITIES

(343,819

)

(421,249

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,624,781

1,338,751

CAPITAL AND RESERVES

Called up share capital

3

8

Share premium

219,996

Revaluation reserve

1,278,495

1,069,895

Profit and loss account

126,282

48,852

SHAREHOLDERS' FUNDS

1,624,781

1,338,751

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 29 June 2017 and were signed on its behalf by:

K P Webb - 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 January

2015).

Turnover

Turnover, stated net of value added tax, represents rental income due to the company for the accounting period.

Investment property

Investment properties are shown at the most recent valuation. Any aggregate surplus or deficit arising from

changes in market value is transferred to a revaluation reserve.

Although the Companies Act would normally require the systematic annual depreciation of fixed assets, the

directors believe that the policy of not providing depreciation is necessary in order for the accounts to give a true

and fair view, since the current value of investments properties, and changes to that current value, are of prime

importance rather than a calculation of systematic annual depreciation. Depreciation is only one of many factors

reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately

identified or quantified.

Deferred tax

Deferred tax is provided on the liability method to take account of timing differences between the treatment of

certain items for accounts purposes and their treatment for tax purposes. Tax deferred is accounted for in respect

of all material timing differences that have originated but not reversed at the balance sheet date other than for

timing differences arising from the revaluation of tangible fixed assets. Deferred tax assets and liabilities are not

discounted.

Tax on losses available to carry forward against future profits is recognised as a deferred tax asset, where on the

basis of available evidence it is more likely than not that there will be taxable profits in the future against which

the deferred tax asset can be offset.

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.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 October 2015

1,760,000

Revaluations

208,600

At 30 September 2016

1,968,600

NET BOOK VALUE

At 30 September 2016

1,968,600

At 30 September 2015

1,760,000

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.16

30.9.15

value:

£

8

Ordinary

£1

8