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Financial Statements for the Period 31 December 2017 to 27 June 2019 |
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Wolstenholme Square Developments Limited |
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Financial Statements for the Period 31 December 2017 to 27 June 2019 |
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for |
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Wolstenholme Square Developments Limited |
Wolstenholme Square Developments Limited (Registered number: 09346091) |
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Contents of the Financial Statements |
for the Period 31 December 2017 to 27 June 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Wolstenholme Square Developments Limited |
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Company Information |
for the Period 31 December 2017 to 27 June 2019 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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116 Duke Street |
Liverpool |
Merseyside |
L1 5JW |
Wolstenholme Square Developments Limited (Registered number: 09346091) |
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Balance Sheet |
27 June 2019 |
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27.6.19 | 30.12.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS/(LIABILITIES) |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS/(LIABILITIES) |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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The director acknowledges his responsibilities for: |
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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. |
Wolstenholme Square Developments Limited (Registered number: 09346091) |
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Balance Sheet - continued |
27 June 2019 |
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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
by: |
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Wolstenholme Square Developments Limited (Registered number: 09346091) |
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Notes to the Financial Statements |
for the Period 31 December 2017 to 27 June 2019 |
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1. | STATUTORY INFORMATION |
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Wolstenholme Square Developments Limited is a
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Wales. The company's registered number and registered office address can be found on the Company |
Information page. |
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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 these financial statements in accordance with FRS 102 requires the use of certain critical |
accounting estimates. Estimates and and judgements are continually evaluated and are based on historical |
experience, current knowledge and expectations of future events. |
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Key accounting estimates- provisions |
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Upon the sale of property to an investor the company guarantees a return of a specified amount for a specified |
period of time. The rental income received on the property may not always meet the liability due to running costs |
and vacant periods so a provision is made against this cost. The provision is reviewed and updated annually |
taking into account current economic factors. |
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Turnover |
Turnover, derived from ordinary activities is derived from property sales and rental income. Property sales are |
recognised as the sale completes and rental income is recognised as the rent falls due. Both are excluding VAT. |
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Tangible fixed assets |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
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Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in |
bringing stocks to their present location and condition. |
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Financial instruments |
Directors loans and intercompany loans (being repayable on demand), trade debtors and trade creditors are |
measured at the undiscounted amount of the cash or other consideration expected to be paid or received. |
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Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective |
evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit |
and loss. |
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Balances due from/to related parties are recorded at cost less impairment. All balances are repayable on demand |
and are interest free. Any impairment losses would be taken to the profit and loss account. There are no |
impairment losses in the year. |
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Wolstenholme Square Developments Limited (Registered number: 09346091) |
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Notes to the Financial Statements - continued |
for the Period 31 December 2017 to 27 June 2019 |
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2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period 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 period 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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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was NIL (2017 - NIL). |
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4. | TANGIBLE FIXED ASSETS |
Land and |
buildings |
£ |
COST |
Additions |
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At 27 June 2019 |
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NET BOOK VALUE |
At 27 June 2019 |
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5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 31 December 2017 |
and 27 June 2019 |
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NET BOOK VALUE |
At 27 June 2019 |
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At 30 December 2017 |
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Wolstenholme Square Developments Limited (Registered number: 09346091) |
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Notes to the Financial Statements - continued |
for the Period 31 December 2017 to 27 June 2019 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
27.6.19 | 30.12.17 |
£ | £ |
Amounts owed by group undertakings |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
27.6.19 | 30.12.17 |
£ | £ |
Payments on account |
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Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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8. | RELATED PARTY DISCLOSURES |
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The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
transactions with wholly owned subsidiaries within the group. |
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At the balance sheet date included in other debtors was £2,379,638 due from companies under common control |
and £439,000 included in other creditors due to companies under common control. The loans are interest free |
and repayable on demand. |