Company Registration No. 03407282 (England and Wales)
WAPPING LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
WAPPING LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
WAPPING LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,565,013
1,540,002
Current assets
Debtors
1,071
-
Cash at bank and in hand
2,348
614
3,419
614
Creditors: amounts falling due within one year
(168,955)
(135,383)
Net current liabilities
(165,536)
(134,769)
Total assets less current liabilities
1,399,477
1,405,233
Capital and reserves
Called up share capital
3
1,766,267
1,766,267
Profit and loss account
(366,790)
(361,034)
Shareholders'  funds
1,399,477
1,405,233
For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 31 October 2016
M Michalowska
Director
Company Registration No. 03407282
WAPPING LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 2 -
1
Accounting policies
1.1
Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The financial statements have been prepared on the going concern basis and the directors confirm their belief in the company's ability to continue as a going concern for the period of at least 12 months after approving the accounts.On that basis, the accounts have been prepared on the going concern basis.
1.2
Turnover
Turnover represents income from rents and service charges receivable and book shop sales net of VAT. Events income is recognised for the period of the rental within the respective accounting period.
1.3
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 less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Freehold
not depreciated
Fixtures, fittings & equipment
25% straight line

Freehold property is not depreciated as in the view of the directors, to do so, would not present a true and fair view of the company's financial position. The protected nature of the freehold property requires it to be maintained in its current condition indefinitely and hence in the view of the directors no impairment in value has occured.

 

This policy is however not in accordance with the Financial Reporting Standards for Smaller Entities (effective January 2015), it is a departure from the general requirement of the companies Act 2006 for all freehold building to be depreciated.        

WAPPING LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2015
1,551,581
Additions
28,024
At 31 March 2016
1,579,605
Depreciation
At 1 April 2015
11,579
Charge for the year
3,013
At 31 March 2016
14,592
Net book value
At 31 March 2016
1,565,013
At 31 March 2015
1,540,002
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
1,766,267 Ordinary shares of £1 each
1,766,267
1,766,267
4
Ultimate parent company
The ultimate parent undertaking is Womens Playhouse Trust, a charitable company limited by guarantee, incorporated in England and Wales.

There is no ultimate controlling party.
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