| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 August 2017 |
| for |
| Willowfox Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 August 2017 |
| for |
| Willowfox Limited |
| Willowfox Limited (Registered number: 05261134) |
| Contents of the Financial Statements |
| for the Year Ended 31 August 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Willowfox Limited |
| Company Information |
| for the Year Ended 31 August 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 452 Manchester Road |
| Heaton Chapel |
| Stockport |
| SK4 5DL |
| Willowfox Limited (Registered number: 05261134) |
| Balance Sheet |
| 31 August 2017 |
| 31.8.17 | 31.8.16 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Debtors | 4 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 6 |
| Retained earnings | 7 |
| SHAREHOLDERS' FUNDS |
| 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. |
| 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 |
| Willowfox Limited (Registered number: 05261134) |
| Notes to the Financial Statements |
| for the Year Ended 31 August 2017 |
| 1. | STATUTORY INFORMATION |
| Willowfox Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents rental income from the property. |
| 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. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to profit or loss in the period to which they relate. |
| Investments properties |
| Investment properties are accounted for in accordance with Statement of Standard Accounting Practice No 19, |
| with the effect that: |
| The valuation of investment properties is reviewed annually and any resultant surplus or deficit arising is |
| transfered to a revaluation reserve unless a deficit, or its reversal on an individual investment property is |
| expected to be permanent, in which case it is recognised in the profit and loss account for the year. |
| No depreciation or amortisation is provided in respect of freehold or leasehold investment properties. The |
| directors consider that this accounting policy results in the financial statements giving a true and fair view. |
| Depreciation or amortisation is only one of many factors reflected in the annual revaluation and the amount |
| which might otherwise have been shown cannot be separately identified or quantified. In case where a deficit on |
| a revaluation occurs which is in excess of its revaluation reserve,the amount by which the deficit exceeds the |
| reserve is charged to profit and loss account.Taxation is not provided for on any revaluation surplus until a |
| property is sold and contracts thereon exchanged. |
| Willowfox Limited (Registered number: 05261134) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2017 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.17 | 31.8.16 |
| £ | £ |
| Trade debtors |
| Associated company loan | 16,396,014 | 17,684,981 |
| VAT |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.17 | 31.8.16 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Tenants deposits | - | 21,417 |
| Associated company loan | 12,984,911 | 12,863,539 |
| Accrued expenses |
| 6. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.8.17 | 31.8.16 |
| value: | £ | £ |
| Ordinary | £1 | 2 | 2 |
| 7. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 September 2016 |
| Deficit for the year | ( |
) |
| At 31 August 2017 |