REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE YEAR ENDED 31 DECEMBER 2014 |
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FOR |
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WEAVER SQUARE THREE LIMITED |
REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE YEAR ENDED 31 DECEMBER 2014 |
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FOR |
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WEAVER SQUARE THREE LIMITED |
WEAVER SQUARE THREE LIMITED (REGISTERED NUMBER: 05287426) |
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CONTENTS OF THE ABBREVIATED ACCOUNTS |
for the Year Ended 31 December 2014 |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 3 |
WEAVER SQUARE THREE LIMITED |
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COMPANY INFORMATION |
for the Year Ended 31 December 2014 |
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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 |
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WEAVER SQUARE THREE LIMITED (REGISTERED NUMBER: 05287426) |
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ABBREVIATED BALANCE SHEET |
31 December 2014 |
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2014 | 2013 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 2 |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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PROVISIONS FOR LIABILITIES |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital | 3 |
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Profit and loss account | ( |
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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 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. |
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The financial statements were approved by the Board of Directors on
by: |
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WEAVER SQUARE THREE LIMITED (REGISTERED NUMBER: 05287426) |
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NOTES TO THE ABBREVIATED ACCOUNTS |
for the Year Ended 31 December 2014 |
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1. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
During 2012 the immediate parent company's loan provider, Nationwide Building Society, considered the parent |
company to be in breach of its loan to value covenant. On 30 July 2012 Colliers International were appointed as |
Law of Property Act Receivers.This also covered the property owned by the company. This property had been |
without a tenant for the period prior to the appointment of the Receiver. The company has not been provided |
with an account of any rents paid since that date and they are therefore not included in these accounts. |
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The company awaits the outcome of the Receiver's actions. The investment properties have been revalued by the |
loan provider's valuers and this is reflected in the accounts. |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance with the |
Financial Reporting Standard for Smaller Entities (effective April 2008). |
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The company was dormant throughout the current year and previous year. |
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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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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in |
market value is transferred to a revaluation reserve. |
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In accordance with SSAP 19, the investment property is held on the balance sheet at open market value. It will be |
revalued whenever the directors deem appropriate, with the appropriate surplus or deficit being transferred to a |
revaluation reserve. No depreciation is provided in respect of the investment property. This departure from the |
requirements of the Companies Act 2006, which requires all properties to be depreciated is, in the opinion of the |
directors, necessary to show a true and fair view in accordance with Applicable Accounting Standards. |
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During 2012 the immediate parent company's loan provider valued the investment property and the value has |
been used for the purposes of these accounts. |
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Going concern |
The immediate parent company's loan facility is unlikely to be renewed in the light of the recent action taken by |
the lender, and the valuation placed on the properties. |
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2. | FIXED ASSET INVESTMENTS |
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Investments (neither listed nor unlisted) were as follows: |
2014 | 2013 |
£ | £ |
Investment property | 760,250 | 760,250 |
Investment property impairment | (710,250 | ) | (710,250 | ) |
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3. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2014 | 2013 |
value: | £ | £ |
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Ordinary | £1 |
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WEAVER SQUARE THREE LIMITED (REGISTERED NUMBER: 05287426) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
for the Year Ended 31 December 2014 |
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4. | ULTIMATE PARENT COMPANY |
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The parent company is Weaver Square Investments Limited. |