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No description of principal activity
2016-01-01
Sage Accounts Production Advanced 2017 Update 1 - FRS
xbrli:pure
xbrli:shares
iso4217:GBP
06649536
2016-01-01
2016-12-31
06649536
2016-12-31
06649536
2015-12-31
06649536
2015-01-01
2015-12-31
06649536
2015-12-31
06649536
core:FurnitureFittings
2016-01-01
2016-12-31
06649536
core:MotorVehicles
2016-01-01
2016-12-31
06649536
bus:Director1
2016-01-01
2016-12-31
06649536
core:FurnitureFittings
2015-12-31
06649536
core:MotorVehicles
2015-12-31
06649536
core:FurnitureFittings
2016-12-31
06649536
core:MotorVehicles
2016-12-31
06649536
core:WithinOneYear
2016-12-31
06649536
core:WithinOneYear
2015-12-31
06649536
core:ShareCapital
2016-12-31
06649536
core:ShareCapital
2015-12-31
06649536
core:RetainedEarningsAccumulatedLosses
2016-12-31
06649536
core:RetainedEarningsAccumulatedLosses
2015-12-31
06649536
core:BetweenOneFiveYears
2015-12-31
06649536
core:FurnitureFittings
2015-12-31
06649536
core:MotorVehicles
2015-12-31
06649536
bus:FRS102
2016-01-01
2016-12-31
06649536
bus:AuditExempt-NoAccountantsReport
2016-01-01
2016-12-31
06649536
bus:AbridgedAccounts
2016-01-01
2016-12-31
06649536
bus:SmallCompaniesRegimeForAccounts
2016-01-01
2016-12-31
06649536
bus:PrivateLimitedCompanyLtd
2016-01-01
2016-12-31
06649536
core:OfficeEquipment
2016-01-01
2016-12-31
06649536
core:OfficeEquipment
2015-12-31
06649536
core:OfficeEquipment
2016-12-31
06649536
core:KeyManagementIndividualGroup1
2016-01-01
2016-12-31
06649536
core:AllAssociates
core:OtherTransactionType1
2016-12-31
Statement of Consent to Prepare Abridged Financial Statements
|
|
All of the members of WICKORA ESTATES LIMITED have consented to the preparation of the abridged statement of income and retained earnings for the year ending 31 December 2016 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER:
06649536
Filleted Unaudited Abridged Financial Statements
|
|
Abridged Financial Statements
|
|
Year ended 31 December 2016
Statement of financial position
|
1
|
|
|
Notes to the abridged financial statements
|
3
|
|
|
Statement of Financial Position
|
|
31 December 2016
Fixed assets
Tangible assets
|
5
|
|
7,571
|
6,418
|
|
|
|
|
|
Current assets
Debtors
|
6
|
21,502
|
|
12,043
|
Cash at bank and in hand
|
50,237
|
|
72,054
|
|
--------
|
|
--------
|
|
71,739
|
|
84,097
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
7
|
78,226
|
|
99,051
|
|
--------
|
|
--------
|
Net current liabilities
|
|
6,487
|
14,954
|
|
|
-------
|
--------
|
Total assets less current liabilities
|
|
1,084
|
(
8,536)
|
|
|
|
|
|
Provisions
Taxation including deferred tax
|
|
1,180
|
875
|
|
|
-------
|
-------
|
Net liabilities
|
|
(
96)
|
(
9,411)
|
|
|
-------
|
-------
|
|
|
|
|
Statement of Financial Position (continued)
|
|
31 December 2016
Capital and reserves
Called up share capital
|
|
100
|
100
|
Profit and loss account
|
|
(
196)
|
(
9,511)
|
|
|
----
|
-------
|
Members deficit
|
|
(
96)
|
(
9,411)
|
|
|
----
|
-------
|
|
|
|
|
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the year ending 31 December 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 members have not required the company to obtain an audit of its abridged 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 abridged financial statements
.
These abridged financial statements were approved by the
board of directors
and authorised for issue on
4 August 2017
, and are signed on behalf of the board by:
Company registration number:
06649536
Notes to the Abridged Financial Statements
|
|
Year ended 31 December 2016
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 205 Wells Road, Knowle, Bristol, BS4 2DF. The address of the company's place of business is 32 Long Street, Wotton-under-Edge, Gloucestershire, GL12 7BT.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 January 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 10.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Fixtures & fittings
|
-
|
15% straight line
|
|
Motor vehicles
|
-
|
25% straight line
|
|
Office equipment
|
-
|
20% straight line
|
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units
.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year, including the director, amounted to
4
(2015:
4
).
5.
Tangible assets
|
Fixtures and fittings
|
Motor vehicles
|
Equipment
|
Total
|
|
£
|
£
|
£
|
£
|
Cost
|
|
|
|
|
At 1 January 2016
|
23,894
|
2,500
|
11,769
|
38,163
|
Additions
|
512
|
–
|
2,936
|
3,448
|
|
--------
|
-------
|
--------
|
--------
|
At 31 December 2016
|
24,406
|
2,500
|
14,705
|
41,611
|
|
--------
|
-------
|
--------
|
--------
|
Depreciation
|
|
|
|
|
At 1 January 2016
|
21,472
|
2,499
|
7,774
|
31,745
|
Charge for the year
|
505
|
1
|
1,789
|
2,295
|
|
--------
|
-------
|
--------
|
--------
|
At 31 December 2016
|
21,977
|
2,500
|
9,563
|
34,040
|
|
--------
|
-------
|
--------
|
--------
|
Carrying amount
|
|
|
|
|
At 31 December 2016
|
2,429
|
–
|
5,142
|
7,571
|
|
--------
|
-------
|
--------
|
--------
|
At 31 December 2015
|
2,422
|
1
|
3,995
|
6,418
|
|
--------
|
-------
|
--------
|
--------
|
|
|
|
|
|
6.
Debtors
|
2016
|
2015
|
|
£
|
£
|
Trade debtors
|
12,546
|
9,231
|
Other debtors
|
8,956
|
2,812
|
|
--------
|
--------
|
|
21,502
|
12,043
|
|
--------
|
--------
|
|
|
|
7.
Creditors:
amounts falling due within one year
|
2016
|
2015
|
|
£
|
£
|
Trade creditors
|
3,341
|
4,090
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest
|
63,646
|
72,071
|
Corporation tax
|
2,335
|
11,550
|
Social security and other taxes
|
5,381
|
6,483
|
Pension control
|
75
|
–
|
Other creditors
|
3,448
|
4,857
|
|
--------
|
--------
|
|
78,226
|
99,051
|
|
--------
|
--------
|
|
|
|
8.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
2016
|
2015
|
|
£
|
£
|
Not later than 1 year
|
466
|
1,848
|
Later than 1 year and not later than 5 years
|
–
|
466
|
|
----
|
-------
|
|
466
|
2,314
|
|
----
|
-------
|
|
|
|
9.
Related party transactions
The company was under the indirect control of Mr M D Offer throughout the current period. Mr Offer is the majority shareholder in the parent company.
The company made loans during the year to a company controlled by close relative of Mr M D Offer.
These loans amounted to £ 6,500
of which £6,500 was outstanding at 31 December 2016 and the remainder is due to be repaid by 30 September 2017. These loans are interest free.
10.
Transition to FRS 102
These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 January 2015.
No transitional adjustments were required in equity or profit or loss for the year.