Registered number
00634082
Wrintis Investments Limited
Filleted Accounts
31 March 2023
Wrintis Investments Limited
Registered number: 00634082
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Investments 3 5,845,000 5,700,000
Current assets
Debtors 4 2,523 8,074
Cash at bank and in hand 196,981 372,480
199,504 380,554
Creditors: amounts falling due within one year 5 (61,497) (158,964)
Net current assets 138,007 221,590
Total assets less current liabilities 5,983,007 5,921,590
Provisions for liabilities (693,615) (693,582)
Net assets 5,289,392 5,228,008
Capital and reserves
Called up share capital 1,499 1,499
Capital redemption reserve 106,758 106,758
Fair value reserve 6 2,890,784 2,935,957
Profit and loss account 2,290,351 2,183,794
Shareholder's funds 5,289,392 5,228,008
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D W Chun
Director
Approved by the board on 20 November 2023
Wrintis Investments Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Other Operating Income
Rental income from operating leases is recognised evenly over the term of the relevant lease.
Investment Properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Investments
Investment
property
£
Cost
At 1 April 2022 5,700,000
Additions 190,139
Revaluation (45,139)
At 31 March 2023 5,845,000
Historical cost
At 1 April 2022 2,070,754
At 31 March 2023 2,260,893
The valuations of the investment properties were made as at 31 March 2023 by Carter Jonas LLP on an open market basis.
4 Debtors 2023 2022
£ £
Trade debtors 1,253 330
Other debtors 1,270 7,744
2,523 8,074
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 24,995 24,310
Other creditors 36,502 134,654
61,497 158,964
6 Fair value reserve 2023 2022
£ £
At 1 April 2022 2,935,957 2,930,959
(Loss)/gain on revaluation of land and buildings (45,140) 205,000
Deferred taxation arising on the revaluation of land and buildings (33) (200,002)
At 31 March 2023 2,890,784 2,935,957
7 Other information
Wrintis Investments Limited is a private company limited by shares and incorporated in England. Its registered office is:
Ground Floor Mariners House
2 Copse Lane
Hamble
Southampton
SO31 4QH
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