REGISTERED NUMBER:
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WARDSEND FIDENTIA LIMITED |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2019 |
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REGISTERED NUMBER:
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WARDSEND FIDENTIA LIMITED |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2019 |
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WARDSEND FIDENTIA LIMITED (REGISTERED NUMBER: 07213914) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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WARDSEND FIDENTIA LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Chartered Accountants and Registered Auditors |
41 Cornmarket Street |
Oxford |
OX1 3HA |
WARDSEND FIDENTIA LIMITED (REGISTERED NUMBER: 07213914) |
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BALANCE SHEET |
31 DECEMBER 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Revaluation reserve | 7 |
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Retained earnings |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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WARDSEND FIDENTIA LIMITED (REGISTERED NUMBER: 07213914) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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1. | STATUTORY INFORMATION |
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Wardsend Fidentia Limited is a
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2. | ACCOUNTING POLICIES |
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BASIS OF PREPARING THE FINANCIAL STATEMENTS |
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SIGNIFICANT JUDGEMENTS AND ESTIMATES |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
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There are no judgements that are deemed to have had a significant effect on amounts recognised in the financial statements. |
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TURNOVER |
Turnover represents the amount derived from the provision of services falling within the company's ordinary activities of, dividends receivable on investments and the share of profit or loss of unlisted partnership investments. |
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Dividends are recognised at date of receipt.The share of profit or loss of unlisted partnership investments is accounted for on an accruals basis. |
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INVESTMENTS IN SUBSIDIARIES |
Investments in subsidiary undertakings are recognised at cost less any provision for impairment. |
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Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. |
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Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition. |
WARDSEND FIDENTIA LIMITED (REGISTERED NUMBER: 07213914) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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2. | ACCOUNTING POLICIES - continued |
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FINANCIAL INSTRUMENTS |
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. |
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Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. |
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Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship (see hedge accounting policy). |
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Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. |
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Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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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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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. |
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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. |
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CONSOLIDATION |
The company has taken advantage of the option not to prepare consolidated financial statements |
contained in Section 398 of the Companies Act 2006 on the basis that the company and its |
subsidiary undertakings comprise a small group. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2018 - NIL). |
WARDSEND FIDENTIA LIMITED (REGISTERED NUMBER: 07213914) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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4. | FIXED ASSET INVESTMENTS |
Investments |
Shares in | other |
group | than |
undertakings | loans | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 January 2019 |
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1,916,911 |
Revaluations |
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134,188 |
At 31 December 2019 |
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2,051,099 |
PROVISIONS |
At 1 January 2019 | 154,840 | - | 154,840 |
Provision for year | 124,713 | - | 124,713 |
At 31 December 2019 | 279,553 | - | 279,553 |
NET BOOK VALUE |
At 31 December 2019 |
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1,771,546 |
At 31 December 2018 |
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1,762,071 |
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Cost or valuation at 31 December 2019 is represented by: |
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Investments |
Shares in | other |
group | than |
undertakings | loans | Totals |
£ | £ | £ |
Valuation in 2018 | - | 50,437 | 50,437 |
Valuation in 2019 | - | 134,188 | 134,188 |
Cost | 667,262 | 1,199,212 | 1,866,474 |
667,262 | 1,383,837 | 2,051,099 |
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If other fixed asset investments had not been revalued they would have been included at the following historical cost: |
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2019 | 2018 |
£ | £ |
Cost | 1,199,212 | 1,199,212 |
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Other fixed asset investments were valued on an open market basis on 31 December 2019 by their quoted market value . |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Other debtors |
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WARDSEND FIDENTIA LIMITED (REGISTERED NUMBER: 07213914) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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7. | RESERVES |
Revaluation |
reserve |
£ |
At 1 January 2019 |
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Reclassification | 108,692 |
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At 31 December 2019 |
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8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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9. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is
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