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REGISTERED NUMBER: 01213877 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

W.J. OLDS (HOUSING) LIMITED

W.J. OLDS (HOUSING) LIMITED (REGISTERED NUMBER: 01213877)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


W.J. OLDS (HOUSING) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: S J Wharrad
M J Olds





REGISTERED OFFICE: C/o Alvechurch Fisheries
Bittell Road
Barnt Green
Birmingham
B45 8BW





REGISTERED NUMBER: 01213877 (England and Wales)





ACCOUNTANTS: Prime
Chartered Accountants
161 Newhall Street
Birmingham
B3 1SW

W.J. OLDS (HOUSING) LIMITED (REGISTERED NUMBER: 01213877)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 293 356
Investment property 5 630,000 630,000
630,293 630,356

CURRENT ASSETS
Debtors 6 229 12,719
Cash at bank 102,881 158,867
103,110 171,586
CREDITORS
Amounts falling due within one year 7 6,786 40,736
NET CURRENT ASSETS 96,324 130,850
TOTAL ASSETS LESS CURRENT
LIABILITIES

726,617

761,206

PROVISIONS FOR LIABILITIES 2,562 1,801
NET ASSETS 724,055 759,405

CAPITAL AND RESERVES
Called up share capital 7,500 7,500
Non distributable reserve 8 273,506 276,068
Retained earnings 443,049 475,837
724,055 759,405

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

W.J. OLDS (HOUSING) LIMITED (REGISTERED NUMBER: 01213877)

BALANCE SHEET - continued
31 MARCH 2023


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

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

The financial statements were approved by the Board of Directors and authorised for issue on 2 November 2023 and were signed on its behalf by:





S J Wharrad - Director


W.J. OLDS (HOUSING) LIMITED (REGISTERED NUMBER: 01213877)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

W.J. Olds (Housing) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 the net value of rents receivable during the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on cost

Investment property
Investment property is included at fair value as estimated by the directors at the balance sheet date. Any gains or losses are recognised in the income statement. Deferred tax is provided on these gains at the rate expected to apply when the property is sold.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Fixed asset investments
Fixed asset investments are stated at cost unless in the opinion of the directors there has been a permanent diminution in value in which case provision is made for the loss.

W.J. OLDS (HOUSING) LIMITED (REGISTERED NUMBER: 01213877)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2022
and 31 March 2023 419
DEPRECIATION
At 1 April 2022 63
Charge for year 63
At 31 March 2023 126
NET BOOK VALUE
At 31 March 2023 293
At 31 March 2022 356

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 630,000
NET BOOK VALUE
At 31 March 2023 630,000
At 31 March 2022 630,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2017 276,068
Valuation in 2020 150,000
Valuation in 2021 (150,000 )
Cost 353,932
630,000

W.J. OLDS (HOUSING) LIMITED (REGISTERED NUMBER: 01213877)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. INVESTMENT PROPERTY - continued

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 353,932 353,932

Investment property was valued on an open market basis on 31 March 2019 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 408
Other debtors 229 12,311
229 12,719

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to related companies 2,136 2,136
Taxation and social security 428 32,857
Other creditors 4,222 5,743
6,786 40,736

8. RESERVES
Non
distributable
reserve
£   
At 1 April 2022 276,068
Reversal of provision for permanent
diminution in value of investment
property


(2,562


)



At 31 March 2023 273,506

W.J. OLDS (HOUSING) LIMITED (REGISTERED NUMBER: 01213877)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
S J Wharrad
Balance outstanding at start of year 12,142 12,142
Amounts advanced - 12,500
Amounts repaid (12,142 ) (12,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 12,142