A & P.A. Wilkinson Properties Limited - Period Ending 2016-09-30

A & P.A. Wilkinson Properties Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2016

Voice & Co Accountancy Services Limited
14 Jessops Riverside
800 Brightside Lane
Sheffield
SOUTH YORKSHIRE
S9 2RX

A & P.A. Wilkinson Properties Limited

Contents

Accountants' Report	1
Abbreviated Balance Sheet	2 to 3
Notes to the Abbreviated Accounts	4 to 6

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 6) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
A & P.A. Wilkinson Properties Limited
for the Year Ended 30 September 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of A & P.A. Wilkinson Properties Limited for the year ended 30 September 2016 set out on pages 4-13 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 icaew.com/membershandbook.

This report is made solely to the Board of Directors of A & P.A. Wilkinson Properties Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of A & P.A. Wilkinson Properties Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A & P.A. Wilkinson Properties Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that A & P.A. Wilkinson Properties Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of A & P.A. Wilkinson Properties Limited. You consider that A & P.A. Wilkinson Properties 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 accounts of A & P.A. Wilkinson Properties 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 accounts.

......................................

Voice & Co Accountancy Services Limited
14 Jessops Riverside
800 Brightside Lane
Sheffield
SOUTH YORKSHIRE
S9 2RX

26 May 2017

Page 1

A & P.A. Wilkinson Properties Limited

(Registration number: 02112049)
Abbreviated Balance Sheet as at 30 September 2016

	Note	2016 £	2015 £
Fixed assets
Tangible assets	2	4,622,177	4,587,893
Current assets
Stocks		10,102	13,507
Debtors		8,571	22,902
Cash at bank and in hand		153,763	125,970
		172,436	162,379
Prepayments and accrued income		1,166	1,915
Creditors: Amounts falling due within one year		(294,499)	(284,388)
Net current liabilities		(120,897)	(120,094)
Total assets less current liabilities		4,501,280	4,467,799
Creditors: Amounts falling due after more than one year		(387,870)	(438,809)
Provisions for liabilities		(153,164)	(175,635)
Accruals and deferred income		(9,946)	(3,915)
Net assets		3,950,300	3,849,440
Capital and reserves
Called up share capital	3	2	2
Revaluation reserve		2,028,812	2,028,812
Profit and loss account		1,921,486	1,820,626
Shareholders funds		3,950,300	3,849,440

For the year ending 30 September 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 26 May 2017 and signed on its behalf by:

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 2

A & P.A. Wilkinson Properties Limited

(Registration number: 02112049)
Abbreviated Balance Sheet as at 30 September 2016 (continued)

.........................................
Mr Alan Wilkinson
Company secretary and director

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 3

A & P.A. Wilkinson Properties Limited

Notes to the Abbreviated Accounts

Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Revenue recognition

Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Government grants

Any grant received against the purchase of a development property is deduced from the cost of the property

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Intangible assets

Intangible assets are stated in the balance sheet at cost less accumulated amortisation and impairment. They are amortised on a straight line basis over their estimated useful lives.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Improvement to property	4% on cost
Fixture and fittings	33% on reducing balance and 10% on cost
Motor vehicles	25% on cost
Computer equipment	33% on cost

Page 4

A & P.A. Wilkinson Properties Limited

Notes to the Abbreviated Accounts (continued)

Accounting policies (continued)

Investment properties

Development properties are valued at the lower of cost incurred and estimated net realisable value. Cost comprises the purchase consideration and other direct costs of work done less grants received against the purchase of the property

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Provisions

A provision is recognised when there is a legal or constructive obligation as a result of a past event and it is probable that an outflow of economic benefits will be required to settle the obligation.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Fixed assets

	Intangible assets £	Tangible assets £	Total £
Cost
At 1 October 2015	700,000	4,711,866	5,411,866
Additions	-	38,543	38,543
At 30 September 2016	700,000	4,750,409	5,450,409
Depreciation
At 1 October 2015	700,000	123,973	823,973
Charge for the year	-	4,259	4,259
At 30 September 2016	700,000	128,232	828,232
Net book value
At 30 September 2016	-	4,622,177	4,622,177
At 30 September 2015	-	4,587,893	4,587,893

Page 5

A & P.A. Wilkinson Properties Limited

Notes to the Abbreviated Accounts (continued)

Share capital

Allotted, called up and fully paid shares

	2016		2015
	No.	£	No.	£
Ordinary of £1 each	2	2	2	2

Related party transactions

Transactions with directors

2015

At 1 October 2014
£

Advances to directors
£

Repayments by director
£

Other payments made to company by director
£

At 30 September 2015
£

Dividends paid to directors

	2016 £	2015 £
Mr Alan Wilkinson
Dividends	22,600	32,000


Mrs Patricia Ann Wilkinson
Dividends	22,600	32,000

Page 6