Registered Number 07012449
WELLBROOK VENTURES LIMITED
Abbreviated Accounts
31 July 2015
Notes | 31/07/2015 | 30/09/2014 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Investments | 3 |
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Current assets | |||
Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
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( |
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Net current assets (liabilities) |
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( |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
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( |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 4 |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Consolidation
In the opinion of the directors, the company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts.
Turnover policy
Tangible assets depreciation policy
Fixtures and fittings - 15% reducing balance
Other accounting policies
All fixed assets are initially recorded at cost.
Stock
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.
Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
£ | |
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Cost | |
At 1 October 2014 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 July 2015 |
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Depreciation | |
At 1 October 2014 |
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Charge for the year |
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On disposals |
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At 31 July 2015 |
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Net book values | |
At 31 July 2015 | 3,131 |
At 30 September 2014 | 3,578 |
Aggregate capital and reserves:
Oakfield Enterprises Limited - at 31 July 2015: £636,194; at 30 September 2014: £510,401.
Profit and (loss) for the year:
Oakfield Enterprises Limited - at 31 July 2015: £125,793; at 30 September 2014: £301,756
3
Fixed assets Investments
At 1 October 2014 and 3 July 2015: £964,066
DEPRECIATION:
At 1 October 2014: £NIL
Charge for period: £NIL
At 31 July 2015: £NIL
NET BOOK VALUE:
At 31 July 2015: £964,066
At 30 September 2014: £964,066