Company Registration No. 02467822 (England and Wales)
Watling Court (Sandiway) Limited
Unaudited accounts
for the year ended 30 June 2023
Watling Court (Sandiway) Limited
Unaudited accounts
Contents
Watling Court (Sandiway) Limited
Company Information
for the year ended 30 June 2023
Directors
Mr S R Purkis
Mr T Hurrell
Company Number
02467822 (England and Wales)
Registered Office
1 Hunters Lane
Hartford
Northwich
Cheshire
CW8 2ZL
Accountants
Ruth Elliott & Co
50 Park Lane
Hartford
Northwich
Cheshire
CW8 1PY
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Watling Court (Sandiway) Limited for the year ended 30 June 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Watling Court (Sandiway) Limited for the year ended
30 June 2023 as set out on pages
5 -
7 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 at icaew.com/membershandbook.
This report is made solely to the Board of Directors of Watling Court (Sandiway) Limited, as a body, in accordance with the terms of our engagement letter dated 27 May 2018. Our work has been undertaken solely to prepare for your approval the accounts of Watling Court (Sandiway) Limited and state those matters that we have agreed to state to the Board of Directors of Watling Court (Sandiway) Limited, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Watling Court (Sandiway) Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Watling Court (Sandiway) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Watling Court (Sandiway) Limited. You consider that Watling Court (Sandiway) 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 accounts of Watling Court (Sandiway) 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 accounts.
Ruth Elliott & Co
Chartered Accountants
50 Park Lane
Hartford
Northwich
Cheshire
CW8 1PY
14 February 2024
Watling Court (Sandiway) Limited
Statement of financial position
as at 30 June 2023
Investment property
36,979
36,979
Cash at bank and in hand
11
12
Creditors: amounts falling due within one year
(634)
(1,481)
Net current liabilities
(125)
(1,037)
Called up share capital
8
8
Capital contribution reserve
36,979
36,979
Profit and loss account
(133)
(1,045)
Shareholders' funds
36,854
35,942
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 February 2024 and were signed on its behalf by
Mr T Hurrell
Director
Company Registration No. 02467822
Watling Court (Sandiway) Limited
Notes to the Accounts
for the year ended 30 June 2023
Watling Court (Sandiway) Limited is a private company, limited by shares, registered in England and Wales, registration number 02467822. The registered office is 1 Hunters Lane, Hartford, Northwich, Cheshire, CW8 2ZL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover represents the value of service fees paid.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Service charge monies not used for expenditure on the property on behalf of the shareholders, are held in the bank on trust in accordance with section 42, Landlord and Tenant Act 1987.
The profit and loss account in the capital and reserves section includes any funds set aside, as agreed by the shareholders, to fund roof repairs.
The roof repair reserve has been established to meet the future costs of major repairs or scheduled works including the costs for the replacement of the roof of the property.
The level of the fund may not be sufficient for all the costs of any future repairs or scheduled work due to the uncertainty as to the timing of when the repairs or replacement roof will be required and the actual costs. Any shortfall in the reserve resulting from expenditure incurred will be charged to the profit and loss account in that year.
Watling Court (Sandiway) Limited
Notes to the Accounts
for the year ended 30 June 2023
Capital Contribution Reserve
The shareholders contributed to the purchase of the freehold of the property which is included as an investment property within fixed assets. The purchase cost is included the capital contribution reserve to reflect the fact the costs were borne by the shareholders.
Fair value at 1 July 2022
36,979
The investment property held is the value of the freehold of the building purchased by the shareholders and held by the company. The directors consider the fair value of the asset as at 30 June 2023 to be the same as the original purchase cost borne by the shareholders. The ownership of the freehold by the company is for the benefit of the shareholders who own flats in the property and is not held for consumption within the company or for sale.
Amounts falling due within one year
Accrued income and prepayments
498
432
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
213
1,081
Allotted, called up and fully paid:
8 Ordinary shares of £1 each
8
8
8
Average number of employees
During the year the average number of employees was 0 (2022: 0).