Vengrove (Wharf Road) Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 09579392 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

VENGROVE (WHARF ROAD) LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

2

CURRENT ASSETS

Stocks

6,673,340

-

Debtors

3

124,456

890,007

Cash at bank

2,790,220

258,493

9,588,016

1,148,500

CREDITORS

Amounts falling due within one year

4

10,438,084

1,147,634

NET CURRENT (LIABILITIES)/ASSETS

(850,068

)

866

TOTAL ASSETS LESS CURRENT LIABILITIES

(850,068

)

866

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

(851,068

)

(134

)

SHAREHOLDERS' FUNDS

(850,068

)

866

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 31 May 2017 and were signed on its behalf by:

R Taylor - Director

1.	STATUTORY INFORMATION

VEN6 (Wharf Road) Limited is a private company, limited by shares, registered in England and Wales. The

company's registered number is 09579392 and the registered office is 1st floor, 9-10 Market Place, London,

W1W 8AQ.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

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

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

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.

Going concern

At the balance sheet date, the company was in a net liability position having made a loss. The company

directors' have indicated that support will continue from the loan commitments in its parent company VEN6

(Wharf Road) Limited to the date the company sells its asset and repays those loan commitments. This is

anticipated to be within 12 months, but the lender has confirmed they will support the company to the date of

sale.

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Other debtors

124,456

890,007

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade creditors

28,079

98,400

Amounts owed to group undertakings

10,372,456

-

Other creditors

37,549

1,049,234

10,438,084

1,147,634

5.	RELATED PARTY DISCLOSURES

At the 31 December the company owed VEN6 (Wharf Road) Limited £10,372,089 a company which owns

100% of Vengrove (Wharf Road) Limited. During the year the company paid VEN6 (Wharf Road) Limited

interest of £804,933 (2015: £Nil). This interest was charged at an arms length basis.

At the 31 December the company owed Vengrove Real Estate Management Limited £367, a company of which

Mr R Taylor and Mr J C Burgess are directors.

6.	ULTIMATE CONTROLLING PARTY

In the opinion of the members there is no one controlling party.

7.	PARENT COMPANY

The company is an 100% subsidiary of VEN6 (Wharf Road) Limited, a company registered in England and

Wales. Copies of the parent company's accounts can be obtained from Companies House.