REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2018 |
for |
Ashton Properties (Wolverhampton) |
Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2018 |
for |
Ashton Properties (Wolverhampton) |
Limited |
Ashton Properties (Wolverhampton) |
Limited (Registered number: 03497790) |
Contents of the Financial Statements |
for the Year Ended 31 March 2018 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Ashton Properties (Wolverhampton) |
Limited |
Company Information |
for the Year Ended 31 March 2018 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
794 High Street |
Kingswinford |
West Midlands |
DY6 8BQ |
Ashton Properties (Wolverhampton) |
Limited (Registered number: 03497790) |
Balance Sheet |
31 March 2018 |
31.3.18 | 31.3.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Revaluation reserve | 10 |
Retained earnings | 10 |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
Ashton Properties (Wolverhampton) |
Limited (Registered number: 03497790) |
Balance Sheet - continued |
31 March 2018 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors on by: |
Ashton Properties (Wolverhampton) |
Limited (Registered number: 03497790) |
Notes to the Financial Statements |
for the Year Ended 31 March 2018 |
1. | STATUTORY INFORMATION |
Ashton Properties (Wolverhampton) Limited is a |
Wales. The company's registered number and registered office address can be found on the Company |
Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
Tangible fixed assets |
Fixtures and fittings | - |
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. |
Current or deferred taxation assets and liabilities are not discounted. |
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. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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. |
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. |
Ashton Properties (Wolverhampton) |
Limited (Registered number: 03497790) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
2. | ACCOUNTING POLICIES - continued |
Investment properties |
In accordance with Statement of Standard Accounting Practice Number 19, Accounting for Investment |
Properties, the investment properties have been stated at open market values and the aggregate surpluses or |
deficits are transferred to revaluation reserve. No depreciation is provided in respect of the investment |
properties. |
The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the |
generally accepted accounting principle set out in SSAP19. |
The director considers that, because there properties are not held for the consumption but for its investment |
potential, to depreciate them would not give a true and fair view and that it is necessary to adopt SSAP19 in |
order to give a true and fair view. |
If this departure from the Act had not been made the profit for the year would have been reduced by |
depreciation. However, the amount of depreciation cannot reasonably be quantified because depreciation is only |
one of many factors reflected in the annual valuation and the amount by which might otherwise have been shown |
cannot be separately identified or quantified. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and |
property | fittings | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 April 2017 |
and 31 March 2018 |
DEPRECIATION |
At 1 April 2017 |
Charge for year |
At 31 March 2018 |
NET BOOK VALUE |
At 31 March 2018 |
At 31 March 2017 |
Cost or valuation at 31 March 2018 is represented by: |
Fixtures |
Freehold | and |
property | fittings | Totals |
£ | £ | £ |
Valuation in 2014 | 373,741 | - | 373,741 |
Cost | 281,259 | 13,098 | 294,357 |
655,000 | 13,098 | 668,098 |
Ashton Properties (Wolverhampton) |
Limited (Registered number: 03497790) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
4. | TANGIBLE FIXED ASSETS - continued |
If the investment properties had not been revalued they would have been included at the following historical cost: |
31.3.18 | 31.3.17 |
£ | £ |
Cost | 281,259 | 281,259 |
The investment properties were valued on an open market value basis on 23 June 2014 by Bulleys Chartered Surveyors |
. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Trade debtors |
Prepayments and accrued income |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Tax |
Social security and other taxes |
Accruals and deferred income |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
Bank loans more 5 yr by instal |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 63,391 | 81,842 |
Ashton Properties (Wolverhampton) |
Limited (Registered number: 03497790) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.3.18 | 31.3.17 |
£ | £ |
Bank loans |
The bank loans are secured by mortgages over all the properties owned by the company. |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.18 | 31.3.17 |
value: | £ | £ |
Ordinary | £1 | 50 | 50 |
B Ordinary | £1 | 50 | 50 |
100 | 100 |
10. | RESERVES |
Retained | Revaluation |
earnings | reserve | Totals |
£ | £ | £ |
At 1 April 2017 | 490,496 |
Profit for the year |
Dividends | ( |
) | ( |
) |
At 31 March 2018 | 511,788 |
11. | RELATED PARTY DISCLOSURES |
The company paid dividends totalling £5,000 in the year under review to its director Mrs D Dench. |
12. | ULTIMATE CONTROLLING PARTY |
The company was controlled throughout the year by Mrs D Dench who held 62% of the issued share capital at |
the balance sheet date. |