Registered Number 01964872
WARDBRIGHT PROPERTIES LIMITED
Abbreviated Accounts
30 September 2015
Notes | 2015 | 2014 | |
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Fixed assets | |||
Tangible assets | 2 |
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Investments | 3 |
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Current assets | |||
Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year | 4 |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year | 4 |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 5 |
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Revaluation reserve |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
The company is not registered for value added tax.
Tangible assets depreciation policy
Plant and machinery etc. - 25% on reducing balance
Valuation information and policy
Investment properties are included in the Balance Sheet at their open market value in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) 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.
Other accounting policies
Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.
A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be a suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse.
Deferred tax assets and liabilities are not discounted.
Pension Costs
The company operate a defined contribution pension scheme. Contributions to the company's pension scheme are charged to the profit and loss account in the period to which they relate.
£ | |
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Cost | |
At 1 October 2014 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 30 September 2015 |
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Depreciation | |
At 1 October 2014 |
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Charge for the year |
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On disposals |
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At 30 September 2015 |
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Net book values | |
At 30 September 2015 | 2,572 |
At 30 September 2014 | 3,429 |
3
Fixed assets Investments
33.34% interest in The Grovehill Trust - £278.334 (2014 - £278,334)
50% interest in Croft Ward Holdings - £234,147 (2014 - £234,147)
50% interest in Ward Right Holdings - £184,485 (2014 - £184,485)
The balance of investments consist of investment property valued at £7,490,869 as at 30 September 2015 (2014 - £7,312,612).
There are no listed investments - (2014 - £NIL).
2015
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2014
£ |
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Secured Debts |
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