196 WILLESDEN LANE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2019
PAGES FOR FILING WITH REGISTRAR
Company Registration Number 09427354 (England and Wales)
Alan Coopers Saunders Angel
Chartered Accountants
Kenton House
666 Kenton Road
Harrow, Middlesex
HA3 9QN
196 WILLESDEN LANE LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2019
31 December 2019
- 1 -
31 December 2019
28 February 2019
£
£
£
£
Current assets
2,409,977
2,386,494
Prepayments and accrued income
4,786
3,458
Creditors: amounts falling due within one year
(2,563,874)
(2,511,292)
Net current liabilities
(149,111)
(121,340)
Net liabilities
(149,111)
(121,340)
Capital and reserves
(149,111)
(121,340)
Notes to the financial statements
1
Employees
The average number of persons
,
including directors
,
employed by the company during the period wa
s as follows:
31 December 2019
28 February 2019
Number
Number
Employees
-
-
2
Contingent Liabilities
The company has acquired a non-residential property with a view to building and selling residential dwellings. Subject to planning permission being successfully obtained the company would be liable to make a further payment to the vendor, and once flats are subsequently sold by the company an additional further payment will be due to the vendor. It is not practicable to make a reliable estimate of the sums payable, which are secured on the company's property.
3
Going Concern
At the balance sheet date the company had negative shareholders funds of £149,396 (February 2019: £121,340). Consequently, the company is dependent upon certain related company creditors, who have indicated that they intend to continue supporting the company so that it meet its ongoing obligations as they fall due. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustment that would result from a withdrawal of assurances given by the aforementioned creditors. At the balance sheet date the company owed these creditors £1,380,843 (February 2019: £1,358,843). Consequently, if these creditors are ignored, the negative shareholders funds are eliminated.
4
Director's Loans
There are year end balances owed by two directors of £15,184 and £10,050 (previous period - nil). These loans are unsecured and interest is charged upon them by the company at 2.75% per annum.
196 WILLESDEN LANE LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2019
31 December 2019
- 2 -
196 Willesden Lane Limited is a private company limited by shares incorporated in England and Wales. The registered office is Kenton House, 666 Kenton Road, Harrow, Middlesex, HA3 9QN.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
For the period ended 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared in accordance with the micro-entity provisions and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime' and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 5 March 2020 and are signed on its behalf by:
Mr G Essex
Ms S Fabre
Director
Director
Company Registration Number 09427354