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Financial Statements for the Year Ended 30 December 2017 |
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Wolstenholme Square Developments Limited |
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REGISTERED NUMBER:
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Financial Statements for the Year Ended 30 December 2017 |
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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 Year Ended 30 December 2017 |
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Page |
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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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Wolstenholme Square Developments Limited |
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Company Information |
for the Year Ended 30 December 2017 |
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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 |
30 December 2017 |
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30.12.17 | 30.12.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 3 |
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CURRENT ASSETS |
Stocks |
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Debtors | 4 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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The director acknowledges his 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. |
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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 on
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Wolstenholme Square Developments Limited (Registered number: 09346091) |
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Notes to the Financial Statements |
for the Year Ended 30 December 2017 |
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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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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The director has prepared the accounts on a going concern basis despite the net liability position. Part of the |
development is sold after the year end the company is profitable. |
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Significant judgements and estimates |
There are no judgements (apart from those involving estimates) that have had a significant effect on amounts |
recognised in the financial statements. |
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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 |
Other loans are initially measured at the present value of future payments, discounted at a market rate of interest, |
and subsequently at amortised cost using the effective interest method. |
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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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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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Wolstenholme Square Developments Limited (Registered number: 09346091) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 December 2017 |
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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. |
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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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3. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
Additions |
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At 30 December 2017 |
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NET BOOK VALUE |
At 30 December 2017 |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.12.17 | 30.12.16 |
£ | £ |
Other debtors |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.12.17 | 30.12.16 |
£ | £ |
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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Wolstenholme Square Developments Limited (Registered number: 09346091) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 December 2017 |
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6. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 30 December 2017 and |
30 December 2016: |
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30.12.17 | 30.12.16 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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7. | RELATED PARTY DISCLOSURES |
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Included in debtors is £1,090,442 owing from related parties and included in creditors is £713,514 owing to |
related parties. Loans to related parties are interest free and repayable on demand. |
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8. | ULTIMATE CONTROLLING PARTY |
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The controlling party is E Lawless. |
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The immediate and ultimate parent company is Elliot Group International Limited, a company registered in |
England and Wales. |