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true
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No description of principal activity
2016-03-30
Sage Accounts Production Advanced 2017 Update 4 - FRS
xbrli:pure
xbrli:shares
iso4217:GBP
04343342
2016-03-30
2017-03-29
04343342
2017-03-29
04343342
2016-03-29
04343342
2016-03-29
04343342
bus:LeadAgentIfApplicable
2016-03-30
2017-03-29
04343342
bus:Director1
2016-03-30
2017-03-29
04343342
core:LandBuildings
2016-03-29
04343342
core:LandBuildings
2017-03-29
04343342
core:LandBuildings
2016-03-30
2017-03-29
04343342
core:WithinOneYear
2017-03-29
04343342
core:WithinOneYear
2016-03-29
04343342
core:ShareCapital
2017-03-29
04343342
core:ShareCapital
2016-03-29
04343342
core:RevaluationReserve
2017-03-29
04343342
core:RevaluationReserve
2016-03-29
04343342
core:RetainedEarningsAccumulatedLosses
2017-03-29
04343342
core:RetainedEarningsAccumulatedLosses
2016-03-29
04343342
core:LandBuildings
2016-03-29
04343342
bus:FRS102
2016-03-30
2017-03-29
04343342
bus:AuditExemptWithAccountantsReport
2016-03-30
2017-03-29
04343342
bus:FullAccounts
2016-03-30
2017-03-29
04343342
bus:SmallCompaniesRegimeForAccounts
2016-03-30
2017-03-29
04343342
bus:PrivateLimitedCompanyLtd
2016-03-30
2017-03-29
04343342
core:OfficeEquipment
2016-03-30
2017-03-29
04343342
core:OfficeEquipment
2016-03-29
04343342
core:OfficeEquipment
2017-03-29
COMPANY REGISTRATION NUMBER:
04343342
Wildmoor (Cirencester) Limited
|
|
Filleted Unaudited Financial Statements
|
|
Wildmoor (Cirencester) Limited
|
|
Year ended 29 March 2017
Statement of financial position
|
1
|
|
|
Notes to the financial statements
|
3
|
|
|
The following pages do not form part of the financial statements
Chartered accountants report to the director on the preparation of the unaudited statutory financial statements
|
7
|
|
|
Wildmoor (Cirencester) Limited
|
|
Statement of Financial Position
|
|
29 March 2017
Fixed assets
Tangible assets
|
5
|
|
5,476,517
|
5,399,132
|
|
|
|
|
|
Current assets
Debtors
|
6
|
36,521
|
|
58,721
|
Cash at bank and in hand
|
9
|
|
3,578
|
|
--------
|
|
--------
|
|
36,530
|
|
62,299
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
7
|
3,575,189
|
|
3,343,145
|
|
------------
|
|
------------
|
Net current liabilities
|
|
3,538,659
|
3,280,846
|
|
|
------------
|
------------
|
Total assets less current liabilities
|
|
1,937,858
|
2,118,286
|
|
|
------------
|
------------
|
Net assets
|
|
1,937,858
|
2,118,286
|
|
|
------------
|
------------
|
|
|
|
|
|
Capital and reserves
Called up share capital
|
|
2
|
2
|
Revaluation reserve
|
|
1,294,975
|
1,294,975
|
Profit and loss account
|
|
642,881
|
823,309
|
|
|
------------
|
------------
|
Shareholders funds
|
|
1,937,858
|
2,118,286
|
|
|
------------
|
------------
|
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 29 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Wildmoor (Cirencester) Limited
|
|
Statement of Financial Position (continued)
|
|
29 March 2017
These financial statements were approved by the
board of directors
and authorised for issue on
13 December 2017
, and are signed on behalf of the board by:
Company registration number:
04343342
Wildmoor (Cirencester) Limited
|
|
Notes to the Financial Statements
|
|
Year ended 29 March 2017
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Warnford Court, 29 Throgmorton Street, London, EC2N 2AT.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The company's assets comprise commercial investment property in Cirencester which generates rental income. The director notes the following in his deliberations on whether the going concern is appropriate for the financial statements. Results The company made an operating loss before other income of £180,428 (2016: £111,063) and has interest charges of £110,727 (2016: £113,485). Loan facility The company's bank loans are secured on its investment properties and serviced by rental income from the tenants. The Bank loans are renewed annually and the director is of the opinion that the company will receive the continuing support of the bank. However should the bank withdraw the loan facilities the company's ability to continue to meet its obligations as they fall due would depend on it obtaining replacement finance. Financial support The working capital requirement of the company does result in it relying on the continued support of group companies, related companies and the director. Forecasts The director has been actively working up a development scheme for the properties which is expected to unlock valuation gains at its commencement. The scheme was granted planning approval in November 2014. The director has a reasonable expectation that the company has adequate resources and support to manage its business risks and to continue in operational existence for the foreseeable future. Accordingly the financial statements have been prepared on a going concern basis as it is the view of the director that this is the most appropriate basis of preparation.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Equipment
|
-
|
20% reducing balance
|
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
4
(2016: Nil).
5.
Tangible assets
|
Land and buildings
|
Equipment
|
Total
|
|
£
|
£
|
£
|
Cost
|
|
|
|
At 30 March 2016
|
5,398,849
|
354
|
5,399,203
|
Additions
|
77,442
|
–
|
77,442
|
|
------------
|
----
|
------------
|
At 29 March 2017
|
5,476,291
|
354
|
5,476,645
|
|
------------
|
----
|
------------
|
Depreciation
|
|
|
|
At 30 March 2016
|
–
|
71
|
71
|
Charge for the year
|
–
|
57
|
57
|
|
------------
|
----
|
------------
|
At 29 March 2017
|
–
|
128
|
128
|
|
------------
|
----
|
------------
|
Carrying amount
|
|
|
|
At 29 March 2017
|
5,476,291
|
226
|
5,476,517
|
|
------------
|
----
|
------------
|
At 29 March 2016
|
5,398,849
|
283
|
5,399,132
|
|
------------
|
----
|
------------
|
|
|
|
|
6.
Debtors
|
2017
|
2016
|
|
£
|
£
|
Trade debtors
|
–
|
8,648
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest
|
31,771
|
647
|
Other debtors
|
4,750
|
49,426
|
|
--------
|
--------
|
|
36,521
|
58,721
|
|
--------
|
--------
|
|
|
|
7.
Creditors:
amounts falling due within one year
|
2017
|
2016
|
|
£
|
£
|
Bank loans and overdrafts
|
2,687,395
|
2,688,883
|
Trade creditors
|
242,743
|
222,698
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest
|
611,719
|
379,669
|
Social security and other taxes
|
9,179
|
15,750
|
Other creditors
|
24,153
|
36,145
|
|
------------
|
------------
|
|
3,575,189
|
3,343,145
|
|
------------
|
------------
|
|
|
|
8.
Related party transactions
The ultimate controlling party is the parent company WMProp Group No 1 Limited, a company registered in England. WMProp Group No 1 Limited is controlled by
Mr M D Booth
, the director of the company.
Wildmoor (Cirencester) Limited
|
|
Year ended 29 March 2017
The following pages do not form part of the financial statements.
Wildmoor (Cirencester) Limited
|
|
Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of
Wildmoor (Cirencester) Limited
|
|
Year ended 29 March 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Wildmoor (Cirencester) Limited for the year ended 29 March 2017, which comprise the statement of financial position and the related notes 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 www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Wildmoor (Cirencester) Limited in accordance with the terms of our engagement letter dated 22 March 2017. Our work has been undertaken solely to prepare for your approval the financial statements of Wildmoor (Cirencester) Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Wildmoor (Cirencester) Limited and its director for our work or for this report.
It is your duty to ensure that Wildmoor (Cirencester) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Wildmoor (Cirencester) Limited. You consider that Wildmoor (Cirencester) 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 financial statements of Wildmoor (Cirencester) 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 financial statements.
McGILLS
Chartered Accountants
Oakley House
Tetbury Road
Cirencester
Gloucestershire
GL7 1US
21 December 2017