Wilka Investments Limited
|
Registered number: |
03741139
|
Abbreviated Balance Sheet |
as at 31 March 2015
|
|
Notes |
|
|
2015 |
|
|
2014 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
2,130,000 |
|
|
2,130,000 |
|
Current assets |
Stocks |
|
|
240,231 |
|
|
240,231 |
Debtors |
|
|
90,288 |
|
|
102,167 |
Cash at bank and in hand |
|
|
11,549 |
|
|
17,183 |
|
|
|
342,068 |
|
|
359,581 |
|
Creditors: amounts falling due within one year |
|
|
(527,775) |
|
|
(576,760) |
|
Net current liabilities |
|
|
|
(185,707) |
|
|
(217,179) |
|
Total assets less current liabilities |
|
|
|
1,944,293 |
|
|
1,912,821 |
|
Creditors: amounts falling due after more than one year |
|
|
|
(647,952) |
|
|
(649,829) |
|
|
|
Net assets |
|
|
|
1,296,341 |
|
|
1,262,992 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
5 |
|
|
100 |
|
|
100 |
Revaluation reserve |
|
|
|
884,457 |
|
|
884,457 |
Profit and loss account |
|
|
|
411,784 |
|
|
378,435 |
|
Shareholders' funds |
|
|
|
1,296,341 |
|
|
1,262,992 |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
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Members have not required the company to obtain an audit in accordance with section 476 of the Act.
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The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
|
|
|
|
Mr BJ Doherty |
Director |
Approved by the board on 31 December 2015
|
|
Wilka Investments Limited
|
Notes to the Abbreviated Accounts |
for the year ended 31 March 2015
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
|
|
|
Turnover |
|
Turnover represents rental income, and fees receiveable for services provided.
|
|
|
Depreciation |
|
Depreciation is provided where relevant, at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Equipment, fixtures and fittings |
25% per annum on cost
|
|
Motor vehicles |
20% per annum on cost
|
|
|
Stocks |
|
Stock is valued at the lower of cost and net realisable value. |
|
|
Deferred taxation |
|
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
|
2 |
Investment properties |
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In accordance with SSAP 19, investment properties are revalued annually and the aggregate surplus or deficits is transferred to revaluation reserve. No depreciation is provided in respect of 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 directors consider, that because investment properties are not held for consumption, but for their 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. The amount of depreciation cannot reasonably be quantified because depreciation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified. |
|
3 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 April 2014 |
2,130,000 |
|
At 31 March 2015 |
2,130,000 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 31 March 2015 |
- |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2015 |
2,130,000 |
|
At 31 March 2014 |
2,130,000 |
|
|
|
|
|
|
|
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The land and buildings have been valued by Mr BJ Doherty, director of the company, on an |
|
open market basis as at 31 March 2015. |
|
4 |
Loans |
2015 |
|
2014 |
£ |
£ |
|
Creditors include: |
|
Secured bank loans |
1,058,452 |
|
1,078,329 |
|
|
|
|
|
|
|
|
|
|
5 |
Share capital |
Nominal |
|
2015 |
|
2015 |
|
2014 |
value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares
|
£1 each |
|
100 |
|
100 |
|
100 |
|
|
|
|
|
|
|
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