Wilsco 237 Limited 03363599 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is leasing land for oil exploration within the United Kingdom. Digita Accounts Production Advanced 6.30.9574.0 true 03363599 2022-04-01 2023-03-31 03363599 2023-03-31 03363599 core:RetainedEarningsAccumulatedLosses 2023-03-31 03363599 core:ShareCapital 2023-03-31 03363599 core:CurrentFinancialInstruments 2023-03-31 03363599 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 03363599 core:LandBuildings 2023-03-31 03363599 bus:SmallEntities 2022-04-01 2023-03-31 03363599 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 03363599 bus:FullAccounts 2022-04-01 2023-03-31 03363599 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 03363599 bus:RegisteredOffice 2022-04-01 2023-03-31 03363599 bus:CompanySecretaryDirector2 2022-04-01 2023-03-31 03363599 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 03363599 core:Land 2022-04-01 2023-03-31 03363599 countries:EnglandWales 2022-04-01 2023-03-31 03363599 2022-03-31 03363599 core:LandBuildings 2022-03-31 03363599 2021-04-01 2022-03-31 03363599 2022-03-31 03363599 core:RetainedEarningsAccumulatedLosses 2022-03-31 03363599 core:ShareCapital 2022-03-31 03363599 core:CurrentFinancialInstruments 2022-03-31 03363599 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 03363599 core:LandBuildings 2022-03-31 iso4217:GBP xbrli:pure

Wilsco 237 Limited

Annual Report and Unaudited Financial Statements
Year Ended 31 March 2023

Registration number: 03363599

 

Wilsco 237 Limited

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 5

 

Wilsco 237 Limited

Balance Sheet

31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

340,000

340,000

Current assets

 

Debtors

13,390

18,644

Cash at bank and in hand

 

102,073

51,069

 

115,463

69,713

Creditors: Amounts falling due within one year

5

(17,085)

(16,958)

Net current assets

 

98,378

52,755

Total assets less current liabilities

 

438,378

392,755

Provisions for liabilities

(83,396)

(83,396)

Net assets

 

354,982

309,359

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

354,980

309,357

Shareholders' funds

 

354,982

309,359

Included in the profit and loss reserves are non-distributable reserves of £252,422 (2022 = £252,422).

 

Wilsco 237 Limited

Balance Sheet

31 March 2023

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 9 October 2023 and signed on its behalf by:
 

.........................................
Mr T E C Liddell
Company secretary and director

   
     

Company Registration Number: 03363599

 

Wilsco 237 Limited

Notes to the Financial Statements

Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Cottonworth House
Andover
Hampshire
SP11 7JX

These financial statements were authorised for issue by the Board on 9 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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 Section 1A, and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable from the ordinary course of the company’s activities. Turnover is shown net of value added tax.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for the company's activities.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Wilsco 237 Limited

Notes to the Financial Statements

Year Ended 31 March 2023

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Asset class

Depreciation method and rate

Land and buildings

nil

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.


 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

 

Wilsco 237 Limited

Notes to the Financial Statements

Year Ended 31 March 2023

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 April 2022

340,000

340,000

At 31 March 2023

340,000

340,000

Depreciation

Carrying amount

At 31 March 2023

340,000

340,000

At 31 March 2022

340,000

340,000

Included within the net book value of land and buildings above is £340,000 (2022 - £340,000) in respect of freehold land and buildings.
 

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Corporation tax

10,702

10,639

Other creditors

6,383

6,319

17,085

16,958