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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2017 |
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A.H. WILLIS AND SONS DEVELOPMENTS |
LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2017 |
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FOR |
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A.H. WILLIS AND SONS DEVELOPMENTS |
LIMITED |
A.H. WILLIS AND SONS DEVELOPMENTS |
LIMITED (REGISTERED NUMBER: 09659797) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 March 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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A.H. WILLIS AND SONS DEVELOPMENTS |
LIMITED |
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COMPANY INFORMATION |
for the year ended 31 March 2017 |
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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 Accountants |
Griffins Court |
24-32 London Road |
NEWBURY |
Berkshire |
RG14 1JX |
A.H. WILLIS AND SONS DEVELOPMENTS |
LIMITED (REGISTERED NUMBER: 09659797) |
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BALANCE SHEET |
31 March 2017 |
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31/3/17 | 31/3/16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 3 |
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CREDITORS |
Amounts falling due within one year | 4 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 5 |
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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
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(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. |
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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
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A.H. WILLIS AND SONS DEVELOPMENTS |
LIMITED (REGISTERED NUMBER: 09659797) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 March 2017 |
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1. | STATUTORY INFORMATION |
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A.H. Willis And Sons Developments 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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The financial statements are prepared in sterling which is the functional currency of the company and rounded to the |
nearest £. |
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The significant accounting policies applied in the preparation of these financial statements are set out below. These policies |
have been consistently applied to all years presented unless otherwise stated. |
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Significant judgements and estimates |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that |
affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues |
and expenses during the period. However, the nature of estimation means that actual outcomes could differ from those |
estimates. The following judgements (apart from those involving estimates) have had the most significant effect on amounts |
recognised in the financial statements. |
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Revenue recognition |
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The key judgements made by management in respect of revenue is the point at which that revenue should be recognised. |
Management consider the underlying contract terms and conclude upon the most appropriate point of the cycle at which |
to recognise revenue based upon the these terms and in particular where the risks and rewards of ownership transfer. |
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Tangible fixed assets |
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Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The |
actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. Residual |
value assessment consider issues such as the remaining life of the asset and the projected disposal value. |
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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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A.H. WILLIS AND SONS DEVELOPMENTS |
LIMITED (REGISTERED NUMBER: 09659797) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2017 |
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2. | ACCOUNTING POLICIES - continued |
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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Debtors and creditors receivable/payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction |
price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
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Investment property |
Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair |
value is recognised in the profit or loss. |
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3. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2016 |
and 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 March 2016 |
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4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/17 | 31/3/16 |
£ | £ |
Amounts owed to group undertakings |
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5. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31/3/17 | 31/3/16 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
A.H. WILLIS AND SONS DEVELOPMENTS |
LIMITED (REGISTERED NUMBER: 09659797) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2017 |
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6. | RESERVES |
Retained |
earnings |
£ |
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Profit for the year |
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At 31 March 2017 |
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7. | RELATED PARTY DISCLOSURES |
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At the year end the company owed £131,172 (2016 - £131,172) to A.H. Willis and Sons Limited, a wholly owned subsidiary |
of the group. |
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At the year end the company was owed £100 (2016 - £100) by the parent company, A.H. Willis and Sons Holdings Limited. |
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8. | ULTIMATE CONTROLLING PARTY |
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The company is under the control of A.H. Willis and Sons Holdings Limited who owns 100% of the issued share capital. |
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9. | FIRST YEAR ADOPTION |
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This is the first year that the Company had presented its financial statements under Financial Reporting Standards 102 |
Section 1A (FRS 102) issued by Financial Reporting Council. The last financial statements prepared under the previous UK |
GAAP were for the period ended 31 March 2016 and the date of transition is therefore 26 June 2015. As a consequence of |
adopting FRS 102 one adjustment has been made. The previously stated freehold property has been reclassified as |
investment property. |