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WOODHAM HOUSE LIMITED |
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2018 |
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WOODHAM HOUSE LIMITED |
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2018 |
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WOODHAM HOUSE LIMITED (REGISTERED NUMBER: 03720217) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2018 |
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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 | 4 |
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WOODHAM HOUSE LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST MARCH 2018 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Certified Accountants |
Registered Auditors |
2 Villiers Court |
40 Upper Mulgrave Road |
Cheam |
Surrey |
SM2 7AJ |
WOODHAM HOUSE LIMITED (REGISTERED NUMBER: 03720217) |
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BALANCE SHEET |
31ST MARCH 2018 |
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31.3.18 | 31.3.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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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 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. |
WOODHAM HOUSE LIMITED (REGISTERED NUMBER: 03720217) |
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BALANCE SHEET - continued |
31ST MARCH 2018 |
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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 Board of Directors on
by: |
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WOODHAM HOUSE LIMITED (REGISTERED NUMBER: 03720217) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2018 |
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1. | STATUTORY INFORMATION |
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Woodham House Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Changes in accounting policies |
During the year, the company transitioned to FRS102. As a result, a significant change arose in the treatment of |
Deferred tax on investment property. |
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Where previously, UK GAAP only required deferred tax to be provided for where there is a binding agreement |
to sell the property at the balance sheet date, FRS102 requires deferred tax to be accounted for in respect of |
investment property that is measured at fair value. |
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Consequently, there is a material deferred tax charge in the year on previous revaluation gains. |
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Tangible fixed assets |
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Computer equipment | - |
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Investment property |
Investment properties are included in the balance sheet at their most recent valuation in accordance with the |
Financial Reporting Standard FRS102 and are not depreciated. The valuation was previously carried out by |
commercial property consultants and the fair value for 2018 was established and estimated by the directors. In |
the opinion of the directors, this provides a true and fair view of the financial position of the company. |
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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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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. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL. |
WOODHAM HOUSE LIMITED (REGISTERED NUMBER: 03720217) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2018 |
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4. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1st April 2017 |
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Disposals | ( |
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At 31st March 2018 |
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DEPRECIATION |
At 1st April 2017 |
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Charge for year |
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Charge written back | (1,485 | ) |
At 31st March 2018 |
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NET BOOK VALUE |
At 31st March 2018 |
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At 31st March 2017 |
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5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1st April 2017 |
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Additions |
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At 31st March 2018 |
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NET BOOK VALUE |
At 31st March 2018 |
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At 31st March 2017 |
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Fair value at 31st March 2018 is represented by: |
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£ |
Valuation in 2014 | 215,000 |
Valuation in 2015 | 463,616 |
Valuation in 2017 | 991,206 |
Valuation in 2018 | 819,056 |
Cost | 1,330,178 |
3,819,056 |
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The property known as "Woodham House" was revalued by the directors during the previous year and |
considered appropriately valued as a consequence, at the year end. |
WOODHAM HOUSE LIMITED (REGISTERED NUMBER: 03720217) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2018 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Amounts owed by associates |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Amounts owed to associates | 396,325 | 29,963 |
Taxation and social security |
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Other creditors |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Bank loans |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 1,129,765 | 1,135,809 |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.3.18 | 31.3.17 |
£ | £ |
Loan from Metro Bank | 1,336,020 | 1,425,000 |
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Metro Bank Plc holds a fixed and floating charge over all assets of the company including the Freehold of the |
property known as "Woodham House". The charges were created on 22nd July 2016. |
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10. | ULTIMATE CONTROLLING PARTY |
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The director, S Fenn is the ultimate controlling party by virtue of his holding the majority of the voting rights in |
the parent company, Albrin Capital Limited. |