Company Registration No. 05861369 (England and Wales)
WENDY HOUSE PROPERTIES LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2016
WENDY HOUSE PROPERTIES LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
WENDY HOUSE PROPERTIES LTD
ABBREVIATED BALANCE SHEET
AS AT
30 JUNE 2016
30 June 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
278,644
412,340
Current assets
Stocks
200
200
Debtors
2,166
1,863
Cash at bank and in hand
4,355
4,410
6,721
6,473
Creditors: amounts falling due within one year
(103,410)
(133,980)
Net current liabilities
(96,689)
(127,507)
Total assets less current liabilities
181,955
284,833
Creditors: amounts falling due after more than one year
(185,320)
(275,595)
(3,365)
9,238
Capital and reserves
Called up share capital
3
1
1
Profit and loss account
(3,366)
9,237
Shareholder's funds
(3,365)
9,238
For the financial year ended 30 June 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 12 December 2016
Mr C H Bird
Director
Company Registration No. 05861369
WENDY HOUSE PROPERTIES LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents bed and breakfast and rental income receivable .
bed and breakfast and rental income receivable
.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Freehold property improvements
- 2% straight line
Computer equipment
- 33% straight line
Fixtures, fittings & equipment
- 25% straight line
Investment property
Investment property is included in the balance sheet at open market value. The surplus or deficit of such value is transferred to the revaluation fund. In accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), no depreciation is provided in respect of the leasehold property. The property is held as an investment and the director considers that to depreciate it would not give a true and fair view. Depreciation is only one of many factors reflected in the annual valuation of properties and accordingly the amount of depreciation that might otherwise have been charged cannot be separately identified or quantified. The director considers that this policy results in the accounts giving a true and fair view.
In accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), no depreciation is provided in respect of the leasehold property. The property is held as an investment and the director considers that to depreciate it would not give a true and fair view. Depreciation is only one of many factors reflected in the annual valuation of properties and accordingly the amount of depreciation that might otherwise have been charged cannot be separately identified or quantified. The director considers that this policy results in the accounts giving a true and fair view.
WENDY HOUSE PROPERTIES LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2016
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 July 2015
418,268
Additions
4,705
Disposals
(132,627)
At 30 June 2016
290,346
Depreciation
At 1 July 2015
5,928
On disposals
2,882
Charge for the year
2,892
At 30 June 2016
11,702
Net book value
At 30 June 2016
278,644
At 30 June 2015
412,340
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
1 Ordinary share of £1 each
1
1