WIMBUSH REAL ESTATE LIMITED
REGISTERED NUMBER:
05181554
ABBREVIATED BALANCE SHEET
AS AT
31 JULY 2016
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CREDITORS:
amounts falling due within one year
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NET CURRENT ASSETS/(LIABILITIES)
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TOTAL ASSETS LESS CURRENT LIABILITIES
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SHAREHOLDERS' FUNDS/(DEFICIT)
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The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act")
and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 31 July 2016 and of its profit for the year in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
The abbreviated accounts, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf on
14 December 2016
.
The notes on pages 2 to 4 form part of these financial statements.
Page 1
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WIMBUSH REAL ESTATE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2016
1.
ACCOUNTING POLICIES
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Basis of preparation of financial statements
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The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015)
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Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax.
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Tangible fixed assets and depreciation
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Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
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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.
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A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be 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.
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Page 2
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WIMBUSH REAL ESTATE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2016
2.
TANGIBLE FIXED ASSETS
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At 1 August 2015 and 31 July 2016
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Page 3
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WIMBUSH REAL ESTATE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2016
3.
SHARE CAPITAL
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Allotted, called up and fully paid
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100
(2015 -
1
)
Ordinary
shares of £
1
each
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During the year 99 £1 ordinary shares were issued at par by a bonus issue.
4.
CONTROLLING PARTY
The company was under the control of the director R Wimbush throughout the previous year and the current year until 24 March 2016, when in the opinion of the directors, there was no longer an ultimate controlling party.
Page 4
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