| W.S.Building & Development Limited |
| Registered number: |
00518479 |
| Balance Sheet |
| as at 31 December 2016 |
|
| Notes |
|
|
2016 |
|
|
2015 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
48,220 |
|
|
48,293 |
|
| Current assets |
| Debtors |
3 |
|
3,015 |
|
|
3,684 |
| Cash at bank and in hand |
|
|
71,047 |
|
|
19,267 |
|
|
|
74,062 |
|
|
22,951 |
|
| Creditors: amounts falling due within one year |
4 |
|
(42,728) |
|
|
(29,454) |
|
| Net current assets/(liabilities) |
|
|
|
31,334 |
|
|
(6,503) |
|
| Total assets less current liabilities |
|
|
|
79,554 |
|
|
41,790 |
|
|
| Provisions for liabilities |
|
|
|
(1,558) |
|
|
(1,558) |
|
|
| Net assets |
|
|
|
77,996 |
|
|
40,232 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
|
|
100 |
| Revaluation reserve |
5 |
|
|
40,757 |
|
|
40,757 |
| Profit and loss account |
|
|
|
37,139 |
|
|
(625) |
|
| Shareholders' funds |
|
|
|
77,996 |
|
|
40,232 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit 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 the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Mrs B Mather |
| Director |
| Approved by the board on 15 August 2017 |
|
| W.S.Building & Development Limited |
| Notes to the Accounts |
| for the year ended 31 December 2016 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover represents rental and lease extention income. |
|
|
Intangible fixed assets |
|
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
|
|
Tangible fixed assets |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
estimated useful lives. |
|
Plant and machinery |
25% reducing balance basis |
|
Freehold Land and Buildings |
Nil |
|
|
|
The freehold land and buildings are investment properties. No depreciation is provided. In the |
|
opinion of the directors the market value of the properties is substantially in excess of the |
|
of the historic cost.The market value has been incorporated in these financial statements. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
| 2 |
Tangible fixed assets |
|
|
|
|
Land and buildings |
|
Plant and machinery etc |
|
Total |
| £ |
£ |
£ |
|
Cost or valuation |
|
At 1 January 2016 |
48,000 |
|
9,106 |
|
57,106 |
|
At 31 December 2016 |
48,000 |
|
9,106 |
|
57,106 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 January 2016 |
- |
|
8,813 |
|
8,813 |
|
Charge for the year |
- |
|
73 |
|
73 |
|
At 31 December 2016 |
- |
|
8,886 |
|
8,886 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2016 |
48,000 |
|
220 |
|
48,220 |
|
At 31 December 2015 |
48,000 |
|
293 |
|
48,293 |
|
|
|
|
|
|
|
|
|
|
|
Freehold land and buildings: |
2016 |
|
2015 |
| £ |
£ |
|
Historical cost |
7,243 |
|
7,243 |
|
Cumulative depreciation based on historical cost |
- |
|
- |
|
|
|
|
|
|
7,243 |
|
7,243 |
|
|
The investment properties held on a long term basis are stated at their open market values. The |
|
values in December 2016 are based on the opinion of the directors. |
|
|
Deferred Taxation |
|
|
Potential liability to taxation based on the revalued amount would be £8,500 (2015 - £8,500) |
|
This would only arise if the company were to sell the properties at the value in the accounts. |
|
At present, there is no intention to sell these investment properties and apart from £1,558 |
|
(see note 6) no further provision has been made in these accounts. |
|
| 3 |
Debtors |
2016 |
|
2015 |
| £ |
£ |
|
|
Other debtors |
3,015 |
|
3,684 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Creditors: amounts falling due within one year |
2016 |
|
2015 |
| £ |
£ |
|
|
Amounts owed to related undertakings |
|
31,148 |
|
19,647 |
|
Corporation tax |
8,697 |
|
497 |
|
Other taxes and social security costs |
402 |
|
530 |
|
Other creditors |
2,481 |
|
8,780 |
|
|
|
|
|
|
42,728 |
|
29,454 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Revaluation reserve |
2016 |
|
2015 |
| £ |
£ |
|
|
At 1 January 2016 |
40,757 |
|
40,757 |
|
|
At 31 December 2016 |
40,757 |
|
40,757 |
|
|
|
|
|
|
|
|
|
|
|
| 6 |
Provisions for liabilities |
|
Deferred taxation: |
2016 |
|
2015 |
| £ |
£ |
|
|
Provision related to the revaluation reserve at 31 December 1992 |
1,558 |
|
1,558 |
|
|
|
|
|
|
|
1,558 |
|
1,558 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2016 |
|
2015 |
| £ |
£ |
|
|
At 1 January |
1,558 |
|
1,558 |
|
|
|
|
|
|
|
|
|
|
At 31 December |
1,558 |
|
1,558 |
|
|
|
|
|
|
|
|
|
| 7 |
Other information |
|
|
W.S.Building & Development Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
925 Finchley Road |
|
London |
|
NW11 7PE |
