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Registration number: 14425059

Willett Property Holdings Limited

Unaudited Filleted Financial Statements

for the Period from 17 October 2022 to 30 April 2023

 

Willett Property Holdings Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 5

 

Willett Property Holdings Limited

(Registration number: 14425059)
Statement of Financial Position as at 30 April 2023

Note

2023
£

Fixed assets

 

Investments

4

100

Current assets

 

Debtors

5

351,499

Creditors: Amounts falling due within one year

6

(3,887)

Net current assets

 

347,612

Net assets

 

347,712

Capital and reserves

 

Called up share capital

100

Profit and loss account

347,612

Shareholders' funds

 

347,712

For the financial period ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

The director acknowledges his 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the director on 28 October 2023
 

.........................................
Mr Nicholas Ian Willett
Director

 

Willett Property Holdings Limited

Notes to the Unaudited Financial Statements for the Period from 17 October 2022 to 30 April 2023

1

General information

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

The address of its registered office is:
Rosemount House
Musbury Road
Axminster
Devon
EX13 5AE

Principal activity

The principal activity of the company is Furnished Holiday Letting

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 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

 

Willett Property Holdings Limited

Notes to the Unaudited Financial Statements for the Period from 17 October 2022 to 30 April 2023 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 0.

4

Investments

2023
£

Investments in subsidiaries

100

 

Willett Property Holdings Limited

Notes to the Unaudited Financial Statements for the Period from 17 October 2022 to 30 April 2023 (continued)

4

Investments (continued)

Subsidiaries

£

Cost or valuation

Additions

100

Provision

Carrying amount

At 30 April 2023

100

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

Subsidiary undertakings

Willett Food Projects Ltd

Rosemount House, Musbury Road, Axminster, Devon, EX13 5AE

England and Wales

Ordinary A shares Ordinary B shares

100%

100%

Subsidiary undertakings

Willett Food Projects Ltd

The principal activity of Willett Food Projects Ltd is food factory design consultancy.

5

Debtors

Current

Note

2023
£

Amounts owed by related parties

8

351,499

   

351,499

 

Willett Property Holdings Limited

Notes to the Unaudited Financial Statements for the Period from 17 October 2022 to 30 April 2023 (continued)

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

8

2,987

Accruals and deferred income

 

900

 

3,887

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

8

Related party transactions

Summary of transactions with subsidiaries

Willett Food Projects Ltd (subsidiary company).
 As at the period end date Willett Property Holdings Limited was owed £348,512 from its subsidiary.
 The outstanding balance is repayable upon demand.