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REGISTERED NUMBER: 09917958 (England and Wales)















ABRIDGED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022

FOR

WISE FINANCIAL PROPERTY LIMITED

WISE FINANCIAL PROPERTY LIMITED (REGISTERED NUMBER: 09917958)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


WISE FINANCIAL PROPERTY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2022







DIRECTOR: Mr G M Wise





REGISTERED OFFICE: The Innovation Centre
Venture Court
Queens Meadow Business Park
Hartlepool
TS25 5TG





REGISTERED NUMBER: 09917958 (England and Wales)

WISE FINANCIAL PROPERTY LIMITED (REGISTERED NUMBER: 09917958)

ABRIDGED BALANCE SHEET
31 MAY 2022

2022 2021
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 210 -
Investments 5 419,699 501,116
Investment property 6 6,020,000 4,476,265
6,439,909 4,977,381

CURRENT ASSETS
Debtors 18,763 13,167
Cash at bank 27,510 506,532
46,273 519,699
CREDITORS
Amounts falling due within one year 3,189 12,166
NET CURRENT ASSETS 43,084 507,533
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,482,993

5,484,914

CREDITORS
Amounts falling due after more than one
year

7

(3,883,313

)

(3,082,263

)

PROVISIONS FOR LIABILITIES (101,321 ) (51,808 )
NET ASSETS 2,498,359 2,350,843

CAPITAL AND RESERVES
Called up share capital 100 100
Investments fair value reserve 8,156 16,132
Investment property fair value reserve 423,775 186,533
Retained earnings 2,066,328 2,148,078
2,498,359 2,350,843

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(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.

WISE FINANCIAL PROPERTY LIMITED (REGISTERED NUMBER: 09917958)

ABRIDGED BALANCE SHEET - continued
31 MAY 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 May 2022 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 September 2022 and were signed by:





Mr G M Wise - Director


WISE FINANCIAL PROPERTY LIMITED (REGISTERED NUMBER: 09917958)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022


1. STATUTORY INFORMATION

Wise Financial Property Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents rental income from the letting of residential properties.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Fixed asset investments
Fixed asset investments, which comprise listed investments are reflected at their fair value. Any surplus or deficit arising from changes in fair value is recognised in the profit or loss for the year and included in the investments fair value reserve on the balance sheet. In the event that unrealised deficits exceed the accumulated unrealised gains, the deficit arising is transferred to the profit and loss account reserve.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 3 ) .

WISE FINANCIAL PROPERTY LIMITED (REGISTERED NUMBER: 09917958)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2022


4. TANGIBLE FIXED ASSETS
Totals
£
COST
Additions 280
At 31 May 2022 280
DEPRECIATION
Charge for year 70
At 31 May 2022 70
NET BOOK VALUE
At 31 May 2022 210

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£
COST OR VALUATION
At 1 June 2021 501,116
Additions 19,866
Disposals (3,062 )
Revaluations (98,221 )
At 31 May 2022 419,699
NET BOOK VALUE
At 31 May 2022 419,699
At 31 May 2021 501,116

Cost or valuation at 31 May 2022 is represented by:
Totals
£
Valuation in 2021 419,699

If investments had not been revalued they would have been included at the following historical cost:

2022 2021
£ £
Cost 497,282 480,478

The investment portfolio were valued on an open market basis on 31 May 2022 by Investec Wealth & Investment Ltd .

WISE FINANCIAL PROPERTY LIMITED (REGISTERED NUMBER: 09917958)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2022


6. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 June 2021 4,476,265
Additions 1,254,387
Revaluations 289,348
At 31 May 2022 6,020,000
NET BOOK VALUE
At 31 May 2022 6,020,000
At 31 May 2021 4,476,265

Fair value at 31 May 2022 is represented by:
£
Valuation in 2021 6,020,000

If investment properties had not been revalued they would have been included at the following historical cost:

2022 2021
£ £
Cost 5,496,817 4,242,430

Investment properties were valued on an open market basis on 31 May 2022 by the director .

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2022 2021
£ £
Repayable by instalments
Mortgages 3,883,313 3,082,263

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2022 2021
£ £
Within one year 9,116 -
Between one and five years 33,427 -
42,543 -

WISE FINANCIAL PROPERTY LIMITED (REGISTERED NUMBER: 09917958)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2022


9. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£ £
Mortgages 3,883,313 3,082,263

Mortgages are secured on the properties to which they relate.