REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements for the Year Ended 30 March 2020 |
|
for |
|
Wolterton Park Ltd. |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements for the Year Ended 30 March 2020 |
|
for |
|
Wolterton Park Ltd. |
Wolterton Park Ltd. (Registered number: 06190652) |
|
|
|
|
|
|
Contents of the Financial Statements |
for the year ended 30 March 2020 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 3 |
|
Wolterton Park Ltd. |
|
Company Information |
for the year ended 30 March 2020 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
15 Palace Street |
NORWICH |
Norfolk |
NR3 1RT |
Wolterton Park Ltd. (Registered number: 06190652) |
|
Balance Sheet |
30 March 2020 |
|
2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
|
CURRENT ASSETS |
Debtors | 5 |
|
|
Cash at bank |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 6 |
|
|
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
) |
( |
) |
|
CREDITORS |
Amounts falling due after more than
one year |
7 |
|
|
NET LIABILITIES | ( |
) | ( |
) |
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
|
|
|
|
|
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. |
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
|
The financial statements were approved by the Board of Directors and authorised for issue on
|
|
|
|
|
|
|
|
Wolterton Park Ltd. (Registered number: 06190652) |
|
Notes to the Financial Statements |
for the year ended 30 March 2020 |
|
1. | STATUTORY INFORMATION |
|
Wolterton Park Ltd. is a
|
|
The presentation currency of the financial statements is the Pound Sterling (£). |
|
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Going concern |
Although the Company has net liabilities, the Directors' are willing to continue to support the Company and not withdraw their loans in such a way as would mean the Company could not meet it's liabilities as they fall due.The Directors' therefore consider it appropriate to prepare the accounts on the going concern basis. |
|
Turnover |
Revenue is recognised in respect of rental and related income receivable for the period exclusive of VAT. |
|
Where the period for which the rent received relates to a period after the year end the appropriate proportion is carried forward as deferred income. |
|
Tangible fixed assets |
|
Plant and machinery | - |
|
Fixtures and fittings | - |
|
Computer equipment | - |
|
|
The assets held under fixtures and fittings which relate to the leasehold properties are being depreciated at a rate which is shorter than the economic life of the asset and the term of the lease. |
|
Government grants |
Government grants are recognised when it is reasonable to expect that the grants will be received and that all related conditions will be met. |
Grants of a revenue nature are credited to the Income Statement so as to match them with the expenditure to which they relate. |
|
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. |
|
Current or deferred taxation assets and liabilities are not discounted. |
|
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. |
|
Wolterton Park Ltd. (Registered number: 06190652) |
|
Notes to the Financial Statements - continued |
for the year ended 30 March 2020 |
|
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
|
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. |
|
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. |
|
Hp / leasing |
Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the term of the lease. |
|
Assets held under finance leases and HP agreements, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and are depreciated over their useful economic lives. The capital element of future obligations under the lease is included as a liability in the balance sheet. The interest element of the payment obligations is charged to the profit and loss account over the period of the agreement and represents a constant proportion of the balance of capital repayments outstanding. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Leasehold | Plant and | and | Computer |
improvements | machinery | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 31 March 2019 |
|
|
|
|
|
Additions |
|
|
|
|
|
Disposals |
|
|
|
( |
) | ( |
) |
At 30 March 2020 |
|
|
|
|
|
DEPRECIATION |
At 31 March 2019 |
|
|
|
|
|
Charge for year |
|
|
|
|
|
Eliminated on disposal |
|
|
|
( |
) | ( |
) |
At 30 March 2020 |
|
|
|
|
|
NET BOOK VALUE |
At 30 March 2020 |
|
|
|
|
|
At 30 March 2019 |
|
|
|
|
|
|
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
|
|
VAT |
|
|
Accrued income |
|
|
Prepayments |
|
|
|
|
Wolterton Park Ltd. (Registered number: 06190652) |
|
Notes to the Financial Statements - continued |
for the year ended 30 March 2020 |
|
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Bank loans and overdrafts |
|
|
Hire purchase contracts |
|
|
Trade creditors |
|
|
VAT | 25,756 | - |
Directors' loan accounts | 2,812,250 | 2,480,324 |
Deferred income |
|
|
Accruals |
|
|
|
|
|
7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2020 | 2019 |
£ | £ |
Hire purchase contracts |
|
|
|
8. | SECURED DEBTS |
|
The following secured debts are included within creditors: |
|
2020 | 2019 |
£ | £ |
Hire purchase contracts | 12,652 | - |
|
Security is held over the assets being acquired on HP. |
|
9. | RELATED PARTY DISCLOSURES |
|
The land and buildings are leased by the company from a director for a nominal value of £1 per year. |
The Directors' have given personal guarantees for the bank loan. |