REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
WILLIAM OLIVER (TURF ACCOUNTANT) LIMITED |
|
UNAUDITED FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 31 MAY 2016 |
|
|
|
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
WILLIAM OLIVER (TURF ACCOUNTANT) LIMITED |
|
UNAUDITED FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 31 MAY 2016 |
|
|
|
|
|
WILLIAM OLIVER (TURF ACCOUNTANT) LIMITED (REGISTERED NUMBER: 00700185) |
|
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2016 |
|
|
|
|
|
|
|
|
|
|
Page |
|
Company Information | 1 |
|
Chartered Accountants' Report | 2 |
|
Statement of Financial Position | 3 |
|
Notes to the Financial Statements | 5 |
|
WILLIAM OLIVER (TURF ACCOUNTANT) LIMITED |
|
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MAY 2016 |
|
|
|
|
|
|
|
DIRECTOR: |
|
|
|
|
SECRETARY: |
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
ACCOUNTANTS: |
|
15-17 Church Street |
Stourbridge |
West Midlands |
DY8 1LU |
|
|
|
BANKERS: |
|
114 High Street |
Stourbridge |
West Midlands |
DY8 1DZ |
|
|
|
BANKERS: |
|
PO Box 17235 |
Edinburgh |
EH11 1YH |
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
WILLIAM OLIVER (TURF ACCOUNTANT) LIMITED |
|
|
The following reproduces the text of the report prepared for the director and members in respect of the company's |
annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to |
file a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and |
certain other primary statements and the Report of the Director are not required to be filed with the Registrar of |
Companies. |
|
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial |
statements of William Oliver (Turf Accountant) Limited for the year ended 31 May 2016 which comprise the Statement of |
Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and the related notes from the |
company's accounting records and from information and explanations you have given us. |
|
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
|
This report is made solely to the director of William Oliver (Turf Accountant) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of William Oliver (Turf Accountant) Limited and state those matters that we have agreed to state to the director of William Oliver (Turf Accountant) Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than William Oliver (Turf Accountant) Limited director for our work or for this report. |
|
It is your duty to ensure that William Oliver (Turf Accountant) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of William Oliver (Turf Accountant) Limited. You consider that William Oliver (Turf Accountant) Limited is exempt from the statutory audit requirement for the year. |
|
We have not been instructed to carry out an audit or a review of the financial statements of William Oliver (Turf Accountant) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
|
|
|
|
|
|
|
15-17 Church Street |
Stourbridge |
West Midlands |
DY8 1LU |
|
|
|
WILLIAM OLIVER (TURF ACCOUNTANT) LIMITED (REGISTERED NUMBER: 00700185) |
|
STATEMENT OF FINANCIAL POSITION |
31 MAY 2016 |
|
2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
|
|
Investments | 3 |
|
|
Investment property | 4 |
|
|
|
|
|
CURRENT ASSETS |
Cash at bank and in hand |
|
|
|
CREDITORS |
Amounts falling due within one year | 5 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
PROVISIONS FOR LIABILITIES | 6 |
|
|
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital | 7 |
|
|
Share premium | 8 |
|
|
Fair value reserve | 8 |
|
|
Retained earnings | 8 |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
|
|
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. |
WILLIAM OLIVER (TURF ACCOUNTANT) LIMITED (REGISTERED NUMBER: 00700185) |
|
STATEMENT OF FINANCIAL POSITION - continued |
31 MAY 2016 |
|
|
|
|
The financial statements were approved by the director on
|
|
|
|
|
|
|
|
WILLIAM OLIVER (TURF ACCOUNTANT) LIMITED (REGISTERED NUMBER: 00700185) |
|
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2016 |
|
|
1. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Financial reporting standard 102 - reduced disclosure exemptions |
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as |
permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": |
|
• | the requirements of Section 7 Statement of Cash Flows. |
|
Preparation of consolidated financial statements |
The financial statements contain information about William Oliver (Turf Accountant) Limited as an individual |
company and do not contain consolidated financial information as the parent of a group. The company has taken the |
option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements. |
|
Tangible fixed assets |
|
Fixtures and fittings | - |
|
Computer equipment | - |
|
|
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair |
value is recognised in profit or loss. |
|
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement |
of financial position date. |
|
2. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 June 2015 |
and 31 May 2016 |
|
|
|
DEPRECIATION |
At 1 June 2015 |
|
|
|
Charge for year |
|
|
|
At 31 May 2016 |
|
|
|
NET BOOK VALUE |
At 31 May 2016 |
|
|
|
At 31 May 2015 |
|
|
|
WILLIAM OLIVER (TURF ACCOUNTANT) LIMITED (REGISTERED NUMBER: 00700185) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2016 |
|
|
3. | FIXED ASSET INVESTMENTS |
Shares in |
group | Listed |
undertakings | investments | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 June 2015 |
|
|
1,163,701 |
Additions |
|
|
127,744 |
Disposals |
|
( |
) | (62,736 | ) |
Revaluations |
|
( |
) | (53,037 | ) |
At 31 May 2016 |
|
|
1,175,672 |
NET BOOK VALUE |
At 31 May 2016 |
|
|
1,175,672 |
At 31 May 2015 |
|
|
1,163,701 |
|
Cost or valuation at 31 May 2016 is represented by: |
|
Shares in |
group | Listed |
undertakings | investments | Totals |
£ | £ | £ |
Valuation in 2014 | - | 70,453 | 70,453 |
Valuation in 2015 | - | 8,506 | 8,506 |
Valuation in 2016 | - | (53,037 | ) | (53,037 | ) |
Cost | 188,797 | 960,953 | 1,149,750 |
188,797 | 986,875 | 1,175,672 |
|
**ERROR** |
£ |
|
|
|
Cost | 188,797 |
377,594 |
WILLIAM OLIVER (TURF ACCOUNTANT) LIMITED (REGISTERED NUMBER: 00700185) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2016 |
|
|
3. | FIXED ASSET INVESTMENTS - continued |
|
The company's investments at the Statement of Financial Position date in the share capital of companies include the |
following: |
|
|
Country of incorporation:
|
Nature of business:
|
% |
Class of shares: | holding |
|
|
2016 | 2015 |
£ | £ |
Aggregate capital and reserves |
|
|
Profit for the year |
|
|
|
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 June 2015 |
and 31 May 2016 |
|
NET BOOK VALUE |
At 31 May 2016 |
|
At 31 May 2015 |
|
|
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Taxation and social security |
|
|
Other creditors |
|
|
|
|
|
6. | PROVISIONS FOR LIABILITIES |
2016 | 2015 |
£ | £ |
Deferred tax |
Deferred tax | 179 | 204 |
Restatement to fair value | 15,248 | 24,496 |
15,427 | 24,700 |
WILLIAM OLIVER (TURF ACCOUNTANT) LIMITED (REGISTERED NUMBER: 00700185) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2016 |
|
|
6. | PROVISIONS FOR LIABILITIES - continued |
|
Deferred |
tax |
£ |
Balance at 1 June 2015 |
|
Credit to Statement of Comprehensive Income during year | ( |
) |
Balance at 31 May 2016 |
|
|
7. | CALLED UP SHARE CAPITAL |
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
|
Ordinary | £1 | 70,500 | 70,500 |
|
8. | RESERVES |
Fair |
Retained | Share | value |
earnings | premium | reserve | Totals |
£ | £ | £ | £ |
|
At 1 June 2015 |
|
|
|
2,511,662 |
Profit for the year |
|
|
Dividends | ( |
) | ( |
) |
Restatement to fair value | - | - | (43,789 | ) | (43,789 | ) |
At 31 May 2016 |
|
|
|
2,435,319 |
|
9. | RELATED PARTY DISCLOSURES |
|
During the year the company received management charges of £4,000 (2015: £1,500) from its subsidiary company, |
Bellmark Developments Limited. |
|
10. | CONTROL |
|
No individual is able to exercise sole control over the company or its activities. |
|
11. | STATUTORY INFORMATION |
|
William Oliver (Turf Accountant) Limited is a private company, limited by shares, registered in England and Wales. |
The company's registered number and registered office address can be found on the Company Information page. |
WILLIAM OLIVER (TURF ACCOUNTANT) LIMITED (REGISTERED NUMBER: 00700185) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2016 |
|
|
12. | FIRST YEAR ADOPTION |
|
On transition to Financial reporting Standard 102 "The Financial Reporting Standard applicable in the UK and |
Republic of Ireland" fixed asset investments have been restated to fair value. The effect of change took place on 31 |
May 2014 increased book value from £998,453 to £1,068,906. In addition deferred tax of £554 has been provided on |
the surplus. |
|
Investment properties have also been restated to fair value and increased book value from £266,135 to £430,584. |
Deferred taxation of £21,553 has also been provided on the surplus. |
|
Subsequent movements in fair value has been passed through statement of comprehensive income. |
|