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REGISTERED NUMBER:
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WIGMORE ESTATE AGENTS LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2016 |
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REGISTERED NUMBER:
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WIGMORE ESTATE AGENTS LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2016 |
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WIGMORE ESTATE AGENTS LIMITED (REGISTERED NUMBER: 03729616) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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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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WIGMORE ESTATE AGENTS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
69-71 East Street |
Epsom |
Surrey, England |
KT17 1BP |
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BANKERS: |
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North East London Business Centre |
PO Box 16294 |
1-2 Trinity Way |
London |
E4 8US |
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SOLICITORS: |
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18/22 Wigmore Street |
London |
W1U 2RG |
WIGMORE ESTATE AGENTS LIMITED (REGISTERED NUMBER: 03729616) |
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BALANCE SHEET |
31 DECEMBER 2016 |
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31.12.16 | 31.12.15 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT 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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NET LIABILITIES | ( |
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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. |
WIGMORE ESTATE AGENTS LIMITED (REGISTERED NUMBER: 03729616) |
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BALANCE SHEET - continued |
31 DECEMBER 2016 |
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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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WIGMORE ESTATE AGENTS LIMITED (REGISTERED NUMBER: 03729616) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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1. | STATUTORY INFORMATION |
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Wigmore Estate Agents 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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Turnover |
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work |
carried out in respect of services provided to customers. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Hire purchase and leasing commitments |
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and |
rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and |
depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance |
sheet as a liability. |
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The interest element of the rental obligations is charged to the profit and loss account over the period of the lease |
and represents a constant proportion of the balance of capital repayments outstanding. |
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Rentals paid under operating leases are charged to income on a straight line basis over the lease term. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
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Going concern |
The financial statements have been prepared on the assumption that the directors will continue to provide |
sufficient funds for at least another 12 months from the date of signing the report, which have been indicated. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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WIGMORE ESTATE AGENTS LIMITED (REGISTERED NUMBER: 03729616) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 January 2016 |
and 31 December 2016 |
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DEPRECIATION |
At 1 January 2016 |
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Charge for year |
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At 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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5. | FIXED ASSET INVESTMENTS |
Other |
investments |
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COST |
At 1 January 2016 |
and 31 December 2016 |
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PROVISIONS |
At 1 January 2016 |
and 31 December 2016 | 13,599 |
NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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WIGMORE ESTATE AGENTS LIMITED (REGISTERED NUMBER: 03729616) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Bank loans |
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Other creditors |
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9. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.12.16 | 31.12.15 |
£ | £ |
Within one year |
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Between one and five years |
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In more than five years |
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10. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.12.16 | 31.12.15 |
£ | £ |
Bank loans |
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The company has a fixed & floating legal charge over its property and undertaking in respect of Winkworth |
Franchising Ltd. |
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11. | CONTINGENT LIABILITIES |
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There is a charge under the rent deposit deed for the security deposit and any amounts added to it from time to |
time including any accrued interest thereon in favour of Mr A Nicholas and Mrs T Kendall. |
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12. | RELATED PARTY DISCLOSURES |
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The director, Mr J Borrows, has provided Barclays Bank a personal guarantee for £60,000 in respect of the bank |
overdraft and loan facilities provided by them. |
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The company is controlled by the directors, Mr J Borrows and Mr C Peerless. |
The director, Mr C Peerless, is also a director of Beamray Limited. |
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During the year Beamray Limited incurred expenses on behalf of the company of £95,561 (2015: £69,789) and |
received reimbursements on an interest free basis. At the balance sheet date the amount outstanding totalled |
£137,100 (2015: £88,309). |
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During the year the company incurred management fees amounting to £77,351 (2015: £56,602) from Wood |
West Management Limited. Mr C Peerless is a director of Wood West Management Limited. At the balance |
sheet date the amount outstanding totalled £12,192 (2015: £22,577). |
WIGMORE ESTATE AGENTS LIMITED (REGISTERED NUMBER: 03729616) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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13. | GOING CONCERN |
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The company financial statements have been prepared on a going concern on the basis that the company's |
director would like to provide financial support in the foreseeable future. |