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
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
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
Worrall & Worrall Property Limited
Statement of financial position
as at 31 March 2023
Tangible assets
5,695
9,216
Investment property
644,305
613,917
Cash at bank and in hand
24,599
71,806
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)
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
Worrall & Worrall Property Limited
Notes to the Accounts
for the year ended 31 March 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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 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.
Worrall & Worrall Property Limited
Notes to the Accounts
for the year ended 31 March 2023
4
Tangible fixed assets
Fixtures & fittings
Fair value at 1 April 2022
613,917
Net gain from fair value adjustments
30,388
Amounts falling due within one year
Other debtors
119,482
3,482
7
Creditors: amounts falling due within one year
2023
2022
Loans from directors
6,488
35,813
8
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
574,038
465,635
Other creditors
179,000
163,500
Aggregate of amounts that fall due for payment after five years
574,038
465,635
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).