Wedge London Ltd

WEDGE LONDON LIMITED - Company Information

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Registered number: 00480365

Wedge London Ltd

Abbreviated accounts

For The Year Ended 31 March 2014

CP Finance

Unit 11, Worton Court

Worton Hall Ind Estate, Worton Road

Isleworth

Middlesex

TW7 6ER

Wedge London Ltd

Company No. 00480365

Abbreviated Balance Sheet 31 March 2014

Abbreviated Balance Sheet

		31 March 2014		Period to 31 March 2013
	Notes	£	£	£	£
FIXED ASSETS
Tangible assets	2		156,149		163,021
Investments	3		780,464		780,464

			936,613		943,485
CURRENT ASSETS
Debtors		2,709,375		3,847,271
Cash at bank and in hand		390,515		1,882

		3,099,890		3,849,153
Creditors: Amounts Falling Due Within One Year		(2,890,047)		(3,527,929)

NET CURRENT ASSETS (LIABILITIES)			209,843		321,224

TOTAL ASSETS LESS CURRENT LIABILITIES			1,146,456		1,264,709

Creditors: Amounts Falling After More Than One Year	4		(3,150)		-

NET ASSETS			1,143,306		1,264,709

CAPITAL AND RESERVES
Called up share capital	5		100,000		100,000
Profit and Loss account			1,043,306		1,164,709

SHAREHOLDERS' FUNDS			1,143,306		1,264,709

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Wedge London Ltd

Company No. 00480365

Abbreviated Balance Sheet (continued) 31 March 2014

For the year ending 31 March 2014 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

On behalf of the board

Mr David Turner

15/12/2014

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Wedge London Ltd

Notes to the Abbreviated Accounts

For The Year Ended 31 March 2014

Notes to the Abbreviated Accounts

Accounting Policies

Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Statement of Cash Flow

The company has taken advantage of the exemption in Financial Reporting Standard No.1 from the requirement to produce a cash flow statement on the grounds that it is a subsidiary undertaking where 90% or more of the votings rights are controlled within the group whose consolidated financial statements are publicly available.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	0%
Motor Vehicles	25%
Fixtures & Fittings	20%

Investment properties

Investment properties are included in the Balance Sheet at their open market value in accordance with Statement of Standard Accounting Practice No.19 and are not depreciated. This treatment is contrary to the Companies Act 2006 which states that fixed assets should be depreciated but is, in the opinion of the directors, necessary in order to give a true and fair view of the financial position of the company.

Leasing and Hire Purchase Contracts

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

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Wedge London Ltd

Notes to the Abbreviated Accounts (continued)

For The Year Ended 31 March 2014

Tangible Assets


	Total
Cost	£
As at 1 April 2013	298,424
Additions	2,579

As at 31 March 2014	301,003

Depreciation
As at 1 April 2013	135,403
Provided during the period	9,451

As at 31 March 2014	144,854

Net Book Value
As at 31 March 2014	156,149

As at 1 April 2013	163,021

Investments

	Unlisted
	£
Cost
As at 1 April 2013	780,464

As at 31 March 2014	780,464

Provision
As at 1 April 2013	-

As at 31 March 2014	-

Net Book Value
As at 31 March 2014	780,464

As at 1 April 2013	780,464

Creditors: Amounts Falling After More Than One Year

	31 March 2014	Period to 31 March 2013
	£	£
Net obligations under finance lease and hire purchase contracts	3,150	-

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Wedge London Ltd

Notes to the Abbreviated Accounts (continued)

For The Year Ended 31 March 2014

Share Capital

	Value	Number	31 March 2014	Period to 31 March 2013
Allotted, called up and fully paid:	£		£	£
Ordinary shares	1.000	100000	100,000	100,000

Transactions With and Loans to Directors

Included within Debtor / (Creditors) are the following loans to directors:

	As at 1 April 2013	Amounts advanced	Amounts repaid	As at 31 March 2014
	£	£	£	£
Mr James Wedge	9,044	-	9,044	-
Mr David Turner	(53,943)	5,877	-	(48,066)

The above loan is unsecured, interest free and repayable on demand.

Ultimate Parent Undertaking and Controlling Party

The company's immediate and ultimate parent undertaking is Boyssy Holdings Ltd. Boyssy Holdings Ltd was incorporated in England. Copies of the group accounts may be obtained from the secretary, 11 Worton Court, Worton Hall Industrial Estate, Worton Roiad, Isleworth, TW7 6ER. The ultimate controlling party is A Discretionary Will Trust who controls 100% of the shares of Boyssy Holdings Ltd.

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