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REGISTERED NUMBER: 13268226 (England and Wales)















Financial Statements for the Year Ended 31 March 2023

for

Great Wight Properties Limited

Great Wight Properties Limited (Registered number: 13268226)

Contents of the Financial Statements
for the Year Ended 31 March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Great Wight Properties Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mrs R M H Griffiths
I Griffiths





REGISTERED OFFICE: 30 Summer Road
East Molesey
Surrey
KT8 9LS





REGISTERED NUMBER: 13268226 (England and Wales)





ACCOUNTANTS: CSL Partnership Limited
Chartered Certified Accountants
238 Station Road
Addlestone
Surrey
KT15 2PS

Great Wight Properties Limited (Registered number: 13268226)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £   
FIXED ASSETS
Investment property 4 230,000 245,000

CURRENT ASSETS
Cash at bank 4,490 1,979

CREDITORS
Amounts falling due within one year 5 (62,089 ) (62,311 )
NET CURRENT LIABILITIES (57,599 ) (60,332 )
TOTAL ASSETS LESS CURRENT LIABILITIES 172,401 184,668

CREDITORS
Amounts falling due after more than one
year

6

(130,826

)

(130,826

)

PROVISIONS FOR LIABILITIES (10,393 ) (10,229 )
NET ASSETS 31,182 43,613

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 31,178 43,609
31,182 43,613

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.

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 17 October 2023 and were signed on its behalf by:



I Griffiths - Director


Great Wight Properties Limited (Registered number: 13268226)

Notes to the Financial Statements
for the Year Ended 31 March 2023


1. STATUTORY INFORMATION

Great Wight Properties 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.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue represents amounts received from the rental of investment properties.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

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.

3. EMPLOYEES AND DIRECTORS

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

Great Wight Properties Limited (Registered number: 13268226)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 245,000
Impairments (15,000 )
At 31 March 2023 230,000
NET BOOK VALUE
At 31 March 2023 230,000
At 31 March 2022 245,000

The directors consider that fair value at 31 March 2023 is equivalent to £230,000.

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2022 57,239
Valuation in 2023 (15,000 )
Cost 187,761
230,000

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Directors' current accounts 61,664 61,406
Deferred income 425 425
Accrued expenses - 480
62,089 62,311

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Mortgage 130,826 130,826

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Mortgage 130,826 130,826

7. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Mortgage 130,826 130,826

The mortgage is secured by a fixed charge over the company's investment property.