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Company Registration No. 10681408 (England and Wales)
Worrall & Worrall Property Limited Unaudited accounts for the year ended 31 March 2023
Worrall & Worrall Property Limited Unaudited accounts Contents
Page
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Worrall & Worrall Property Limited Company Information for the year ended 31 March 2023
Directors
Philip John Worrall Tracy Worrall
Company Number
10681408 (England and Wales)
Registered Office
21 The Copse Burley In Wharfedale Ilkley West Yorkshire LS29 7QY United Kingdom
Accountants
RAE Business Services (Yorkshire) Limited First Floor 85 Great Portland Street London W1W 7LT
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Worrall & Worrall Property Limited Accountants' report
Accountants' report to the board of directors of Worrall & Worrall Property Limited on the preparation of the unaudited statutory accounts for the year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Worrall & Worrall Property Limited for the year ended 31 March 2023 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Worrall & Worrall Property Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Worrall & Worrall Property Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Worrall & Worrall Property Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Worrall & Worrall Property Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Worrall & Worrall Property Limited. You consider that Worrall & Worrall Property Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Worrall & Worrall Property Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
RAE Business Services (Yorkshire) Limited First Floor 85 Great Portland Street London W1W 7LT 26 October 2023
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Worrall & Worrall Property Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
5,695 
9,216 
Investment property
644,305 
613,917 
650,000 
623,133 
Current assets
Debtors
119,482 
3,482 
Cash at bank and in hand
24,599 
71,806 
144,081 
75,288 
Creditors: amounts falling due within one year
(9,993)
(36,413)
Net current assets
134,088 
38,875 
Total assets less current liabilities
784,088 
662,008 
Creditors: amounts falling due after more than one year
(753,038)
(629,135)
Net assets
31,050 
32,873 
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
31,040 
32,863 
Shareholders' funds
31,050 
32,873 
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 5 November 2023 and were signed on its behalf by
Philip John Worrall Director Company Registration No. 10681408
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Worrall & Worrall Property Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Worrall & Worrall Property Limited is a private company, limited by shares, registered in England and Wales, registration number 10681408. The registered office is 21 The Copse, Burley In Wharfedale, Ilkley, West Yorkshire, LS29 7QY, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% on cost.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
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Worrall & Worrall Property Limited Notes to the Accounts for the year ended 31 March 2023
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 April 2022
14,234 
At 31 March 2023
14,234 
Depreciation
At 1 April 2022
5,018 
Charge for the year
3,521 
At 31 March 2023
8,539 
Net book value
At 31 March 2023
5,695 
At 31 March 2022
9,216 
5
Investment property
2023 
£ 
Fair value at 1 April 2022
613,917 
Net gain from fair value adjustments
30,388 
At 31 March 2023
644,305 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Other debtors
119,482 
3,482 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Other creditors
2,905 
- 
Loans from directors
6,488 
35,813 
Accruals
600 
600 
9,993 
36,413 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
574,038 
465,635 
Other creditors
179,000 
163,500 
753,038 
629,135 
Aggregate of amounts that fall due for payment after five years
574,038 
465,635 
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Worrall & Worrall Property Limited Notes to the Accounts for the year ended 31 March 2023
9
Transactions with related parties
Included in current assets is a loan of £117.632 (2022 - £2,132) to a related company. Included in long term creditors is a loan of £179,000 (2022 - £163,500) from a related company. The loans are interest-free and repayable on demand.
10
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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