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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 APRIL 2019 |
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FOR |
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WELFORD COURT LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 APRIL 2019 |
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FOR |
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WELFORD COURT LIMITED |
WELFORD COURT LIMITED (REGISTERED NUMBER: 03609611) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 30 April 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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WELFORD COURT LIMITED |
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COMPANY INFORMATION |
for the Year Ended 30 April 2019 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Unit 8 Oak Spinney Park |
Ratby Lane |
Leicester Forest East |
Leicester |
LE3 3AW |
WELFORD COURT LIMITED (REGISTERED NUMBER: 03609611) |
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BALANCE SHEET |
30 April 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Capital redemption reserve |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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
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(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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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WELFORD COURT LIMITED (REGISTERED NUMBER: 03609611) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 30 April 2019 |
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1. | STATUTORY INFORMATION |
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Welford Court Limited is a
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number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax. |
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Goodwill |
Intangible assets including goodwill are stated at cost less accumulated amortisation and accumulated impairment losses. |
Amortisation is calculated, using the straight line method, to allocate the depreciable amount of the assets to their residual |
values over their estimated useful life of 10 years. |
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Tangible fixed assets |
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Freehold property | - |
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Fixtures and fittings | - |
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It is the company's policy to continually maintain its property and hence, the directors are of the opinion that, based on the |
estimated life and residual value of the property, depreciation is immaterial, This is a departure from the general |
requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance |
with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only |
one of the many factors reflected in the annual valuation and the amount of this which might otherwise have been charged |
cannot be separately identified or quantified. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet |
date. |
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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. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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WELFORD COURT LIMITED (REGISTERED NUMBER: 03609611) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 April 2019 |
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 May 2018 |
and 30 April 2019 |
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AMORTISATION |
At 1 May 2018 |
and 30 April 2019 |
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NET BOOK VALUE |
At 30 April 2019 |
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At 30 April 2018 |
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5. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and |
property | fittings | Totals |
£ | £ | £ |
COST |
At 1 May 2018 |
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Additions |
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At 30 April 2019 |
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DEPRECIATION |
At 1 May 2018 |
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Charge for year |
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At 30 April 2019 |
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NET BOOK VALUE |
At 30 April 2019 |
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At 30 April 2018 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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WELFORD COURT LIMITED (REGISTERED NUMBER: 03609611) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 April 2019 |
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8. | RELATED PARTY DISCLOSURES |
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Included in other creditors is £278,231 (2018 - £263,045) due to Conifer Lodge Holdings Limited, a company of which C D |
Kemp and A R Kemp are directors. Interest amounting to £25,520 (2018 - £21,907) has been charged on the loan. The |
company has paid £32,500 (2018 - £32,500) management fees to Conifer Lodge Holdings Limited. |
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Conifer Lodge Holdings Limited has a bank loan secured by a debenture and fixed charge over the freehold property of this |
company. |
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Included in other debtors is £196,035 (2018 - £172,117) owing from Conifer Lodge Limited, a company of which C D Kemp |
and A R Kemp are both directors. |
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Management charges of £40,000 (2018 - £40,000) were received from Conifer Lodge Limited during the year. |
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Also during the year, the directors received dividends of, C D Kemp £52,500 (2018 - £16,500), A R Kemp £12,000 (2018 - |
£Nil) |