Wimpole Land Limited - Period Ending 2017-03-31

Registration number: 05236898

Wimpole Land Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2017

Wimpole Land Limited

Contents

Balance Sheet	1 to 2
Notes to the Financial Statements	3 to 7

Wimpole Land Limited

(Registration number: 05236898)
Balance Sheet as at 31 March 2017

	Note	2017 £	2016 £
Fixed assets
Tangible assets	4	189	252
Investments		22,500	22,500
		22,689	22,752
Current assets
Debtors	6	33,825	33,612
Cash at bank and in hand		5,965	6,032
		39,790	39,644
Creditors: Amounts falling due within one year	7	(71,013)	(69,795)
Net current liabilities		(31,223)	(30,151)
Net liabilities		(8,534)	(7,399)
Capital and reserves
Called up share capital		110	110
Profit and loss account		(8,644)	(7,509)
Total equity		(8,534)	(7,399)

For the financial year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

The notes on pages 3 to 7 form an integral part of these financial statements.

Page 1

Wimpole Land Limited

(Registration number: 05236898)
Balance Sheet as at 31 March 2017

Approved and authorised by the Board on 15 December 2017 and signed on its behalf by:
 

.........................................

J S N J Horsey

Director

The notes on pages 3 to 7 form an integral part of these financial statements.

Page 2

Wimpole Land Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

1	General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
United Kingdom

The principal place of business is:
The Coach House
Cowcombe Hill
Chalford
Gloucestershire
GL6 8HP
England

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. The company is supported by related entities.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	25% reducing balance basis

Page 3

Wimpole Land Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2016 - 3).

Page 4

Wimpole Land Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

4	Tangible assets

	Office equipment  £	Total £
Cost or valuation
At 1 April 2016	1,416	1,416
At 31 March 2017	1,416	1,416
Depreciation
At 1 April 2016	1,164	1,164
Charge for the year	63	63
At 31 March 2017	1,227	1,227
Carrying amount
At 31 March 2017	189	189
At 31 March 2016	252	252

5	Investments

	2017 £	2016 £
Investments in associates	22,500	22,500

Associates	£
Cost
At 1 April 2016	22,500
Provision
Carrying amount
At 31 March 2017	22,500
At 31 March 2016	22,500

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Page 5

Wimpole Land Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

Associates
Dolphin Care (Southern) Limited	39 Charnham Street Hungerford Berkshire RG17 0EJ	Ordinary shares	22.5%	22.5%
	England

The principal activity of Dolphin Care (Southern) Limited is the provision of nursing and rehabilitation services. Its financial period end is 9 June. The financial statements for this associate entity have yet to be finalised and as such we have been unable to disclose its results in these financial statements.

6

Debtors

	Note	2017 £	2016 £
Amounts owed by related undertakings	8	24,965	24,965
Other debtors		8,860	8,647
Total current trade and other debtors		33,825	33,612

7

Creditors

	Note	2017 £	2016 £
Due within one year
Trade creditors		9,234	9,234
Amounts owed to related undertakings	8	29,379	28,543
Other creditors		32,400	32,018
		71,013	69,795

Page 6

Wimpole Land Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

8	Related party transactions

Other transactions with directors

During the year the company made the following related party transactions:

Camino Healthcare (West Bromwich) Limited (a company with common directors). Payments of £0 (2016: £1,300) were made by Camino Healthcare (West Bromwich) Limited. At the balance sheet date the amount due to Camino Healthcare (West Bromwich) Limited was £24,965 (2016: £24,965).

Wimpole Investments Limited (a company of which J S N J Horsey is a director and shareholder) provided a loan to the company on a prior year. During the year interest of £836 (2016: 798) had been accrued on the loan. At the balance sheet date the amount due to Wimpole Investments Limited was £17,547 (2016: £16,712).

O G S Horsey (director) had a loan account with the company. At the balance sheet date the amount due to O G S Horsey was £14,714 (2016: £14,610).

A J Mayhew (director) had a loan account to the company. Interest has been charged on the loan balance at the HMRC official rate. At the balance sheet date the amount due from A J Mayhew was £14,823 (2016: £14,392).

9	Transition to FRS 102

There were no changes required as a result of transition to FRS 102.

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