Worthrise Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00844629 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

WORTHRISE PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C Leathley

Mrs J Leathley

Miss R Leathley

SECRETARY:

Mrs J Leathley

REGISTERED OFFICE:

1 High Street

Thatcham

Berks

RG19 3JG

REGISTERED NUMBER:

00844629 (England and Wales)

ACCOUNTANTS:

C B Heslop & Company Limited

Chartered Accountants

1 High Street

Thatcham

Berks

RG19 3JG

FIXED ASSETS

Tangible assets

4

692,849

688,474

CURRENT ASSETS

Debtors

5

84,584

86,666

Cash at bank

67,243

52,152

151,827

138,818

CREDITORS

Amounts falling due within one year

6

8,868

10,145

NET CURRENT ASSETS

142,959

128,673

TOTAL ASSETS LESS CURRENT LIABILITIES

835,808

817,147

PROVISIONS FOR LIABILITIES

1,013

182

NET ASSETS

834,795

816,965

CAPITAL AND RESERVES

Called up share capital

101

101

Retained earnings

834,694

816,864

SHAREHOLDERS' FUNDS

834,795

816,965

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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 1 September 2018 and were signed on its behalf by:

C Leathley - Director

1.	STATUTORY INFORMATION

Worthrise Properties Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Turnover

Turnover represents rents received from land and property in the UK.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2016 - 2 ).

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

COST

At 1 January 2017

687,518

6,001

693,519

Additions

-

5,316

5,316

At 31 December 2017

687,518

11,317

698,835

DEPRECIATION

At 1 January 2017

-

5,045

5,045

Charge for year

-

941

941

At 31 December 2017

-

5,986

5,986

NET BOOK VALUE

At 31 December 2017

687,518

5,331

692,849

At 31 December 2016

687,518

956

688,474

The investment properties have been valued by the directors at their open market value as at 31 December 2012.

Their original cost was £266,976.

5.

DEBTORS

31.12.17

31.12.16

£

£

Amounts falling due within one year:

Trade debtors

4,485

5,401

Other debtors

64,121

65,287

68,606

70,688

Amounts falling due after more than one year:

Other debtors

15,978

15,978

Aggregate amounts

84,584

86,666

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Taxation and social security

5,082

6,359

Other creditors

3,786

3,786

8,868

10,145

7.	CONTINGENT LIABILITIES

There were no contingent liabilities at 31 December 2017 or at 31 December 2016.

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2017 and

31 December 2016:

31.12.17

31.12.16

£

£

C Leathley

Balance outstanding at start of year

63,913

63,913

Amounts repaid

(400

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

63,513

63,913

9.	ULTIMATE CONTROLLING PARTY