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Registration number: 11770550

Winslade Property Company Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 January 2023

 

Winslade Property Company Limited

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 4

 

Winslade Property Company Limited

(Registration number: 11770550)
Abridged Balance Sheet as at 31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

13,313

17,818

Investment property

405,438

405,438

 

418,751

423,256

Current assets

 

Debtors

120,324

70,264

Cash at bank and in hand

 

20,165

32,053

 

140,489

102,317

Creditors: Amounts falling due within one year

(510,374)

(506,218)

Net current liabilities

 

(369,885)

(403,901)

Total assets less current liabilities

 

48,866

19,355

Provisions for liabilities

(2,529)

(3,386)

Net assets

 

46,337

15,969

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

46,237

15,869

Total equity

 

46,337

15,969

 

Winslade Property Company Limited

(Registration number: 11770550)
Abridged Balance Sheet as at 31 January 2023

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

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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the Company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 23 August 2023 and signed on its behalf by:
 

Mr C Winslade

Director

Mrs E G Winslade

Director

 

Winslade Property Company Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2023

1

General information

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

The address of its registered office is:
Calyx House
South Road
Taunton
Somerset
TA1 3DU

These financial statements were authorised for issue by the Board on 23 August 2023.

2

Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged 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.

Going concern

The financial statements have been prepared on a going concern basis. The company's current liabilities amount is owed to the directors, who have agreed to continue to support the company, and not to demand repayment of this amount to the extent that any such repayment would jeopardise the future of the company

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable the future economic benefits will flow into the entity, and specific criteria have been met for each of the company activities.

Tax

The tax expense for the period comprises current and deferred 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 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.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. 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 statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

 

Winslade Property Company Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

25%

Office Equipment

33%

Investment property

Investment property is carried at fair value, Gains are recognised in the profit and loss account. Deferred
taxation is provided on these gains at the rate expected to apply when the property is sold.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Tangible assets

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2022

940

30,557

31,497

At 31 January 2023

940

30,557

31,497

Depreciation

At 1 February 2022

310

13,369

13,679

Charge for the year

208

4,297

4,505

At 31 January 2023

518

17,666

18,184

Carrying amount

At 31 January 2023

422

12,891

13,313

At 31 January 2022

630

17,188

17,818

Investment properties

2023
£

At 1 February

405,438

The directors consider the valuation to be a fair reflection of the open market value of the properties.

There has been no valuation of investment property by an independent valuer.