Waverley Square Estates Limited
|
Registered number: |
02702324
|
Abbreviated Balance Sheet |
as at 31 May 2015
|
|
Notes |
|
|
2015 |
|
|
2014 |
£ |
£ |
Fixed assets |
Tangible assets |
2 |
|
|
1,833 |
|
|
2,750 |
|
Current assets |
Stocks |
|
|
10,000 |
|
|
10,000 |
|
Creditors: amounts falling due within one year |
|
|
(228,646) |
|
|
(222,277) |
|
Net current liabilities |
|
|
|
(218,646) |
|
|
(212,277) |
|
Net liabilities |
|
|
|
(216,813) |
|
|
(209,527) |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
3 |
|
|
2 |
|
|
2 |
Profit and loss account |
|
|
|
(216,815) |
|
|
(209,529) |
|
Shareholder's funds |
|
|
|
(216,813) |
|
|
(209,527) |
|
|
|
|
|
|
|
|
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
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The member has not required the company to obtain an audit in accordance with section 476 of the Act.
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The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
|
|
|
|
Mr R Fearnley |
Director |
Approved by the board on 21 February 2016
|
|
Waverley Square Estates Limited
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Notes to the Abbreviated Accounts |
for the year ended 31 May 2015
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
|
|
|
Turnover |
|
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
|
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
Plant and machinery |
20% straight line
|
|
Motor vehicles |
25% straight line
|
|
|
Stocks |
|
Stock is valued at the lower of cost and net realisable value. |
|
2 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 June 2014 |
14,194 |
|
At 31 May 2015 |
14,194 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 June 2014 |
11,444 |
|
Charge for the year |
917 |
|
At 31 May 2015 |
12,361 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 May 2015 |
1,833 |
|
At 31 May 2014 |
2,750 |
|
|
|
|
|
|
|
3 |
Share capital |
Nominal |
|
2015 |
|
2015 |
|
2014 |
value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares
|
£1 each |
|
2 |
|
2 |
|
2 |
|
|
|
|
|
|
|
|
|
4 |
Going concern |
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The company is supported by its director who is owed an amount of £132,031 from the company |
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and has guaranteed the outstanding bank loan. |
|
5 |
Related party transactions |
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The company is controlled by Mr R Fearnley who owns 100% of the issued share capital of the |
|
company. |
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At 31st May 2015 Mr Fearnley was owed £138,400 (2014 £132,031) by the company. |