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REGISTERED NUMBER: 11816836 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

WK & IKS Limited

WK & IKS Limited (Registered number: 11816836)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 8

WK & IKS Limited

Company Information
for the Year Ended 28 February 2023







DIRECTORS: W J Killick
Mrs I L Killick-Steele





REGISTERED OFFICE: 3 Park Square East
Leeds
West Yorkshire
LS1 2NE





REGISTERED NUMBER: 11816836 (England and Wales)





ACCOUNTANTS: Charles Stewart & Co Limited
Chartered Accountants
3 Park Square
Leeds
LS1 2NE

WK & IKS Limited (Registered number: 11816836)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Investments 4 679,647 589,174

CREDITORS
Amounts falling due within one year 5 4,274 3,374
NET CURRENT LIABILITIES (4,274 ) (3,374 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

675,373

585,800

CREDITORS
Amounts falling due after more than one
year

6

646,614

586,163
NET ASSETS/(LIABILITIES) 28,759 (363 )

CAPITAL AND RESERVES
Called up share capital 7 200 200
Fair value reserve 8 30,022 -
Retained earnings 8 (1,463 ) (563 )
SHAREHOLDERS' FUNDS 28,759 (363 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 20 November 2023 and were signed on its behalf by:




W J Killick - Director


WK & IKS Limited (Registered number: 11816836)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

WK & IKS 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.

WK & IKS Limited (Registered number: 11816836)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provision of Section 11 `Basic Financial Instruments' and Section 12 `Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets
Other financial assets, including investments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets
Financial assets, other that those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed whet the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is ant contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference share that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financial transaction, where the debt instrument is measured at the present value of the future payments discounted at market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

WK & IKS Limited (Registered number: 11816836)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's obligations expire or are discharged or cancelled.

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).

WK & IKS Limited (Registered number: 11816836)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 March 2022 589,174
Additions 60,451
Share of profit/(loss) 30,022
At 28 February 2023 679,647
NET BOOK VALUE
At 28 February 2023 679,647
At 28 February 2022 589,174

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Directors' current accounts 3,374 2,378
Accruals and deferred income 900 996
4,274 3,374

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Unsecured loan notes 646,614 586,163

7. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
200 Ordinary £1 200 200

8. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 March 2022 (563 ) - (563 )
Deficit for the year (900 ) (900 )
Fair value reserve - 30,022 30,022
At 28 February 2023 (1,463 ) 30,022 28,559

WK & IKS Limited (Registered number: 11816836)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

9. RELATED PARTY DISCLOSURES

During the year the company made an investment of £8,108 (2022 £7,810) in Lumley Properties (SHIV) LLP. The director W J Killick is also a designated member of Lumley Properties (SHIV) LLP.

During the year the company made an investment of £52,343 (2022 £170,044) in Lumley Properties (KHV) Investors LLP of which £Nil (2022 £19,909) was repaid during the year. The director W J Killick is also a designated member of Lumley Properties (KHV) Investors LLP.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is W J Killick.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
WK & IKS Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of WK & IKS Limited for the year ended 28 February 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of WK & IKS Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of WK & IKS Limited and state those matters that we have agreed to state to the Board of Directors of WK & IKS Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than WK & IKS Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that WK & IKS Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of WK & IKS Limited. You consider that WK & IKS 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 financial statements of WK & IKS 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 financial statements.






Charles Stewart & Co Limited
Chartered Accountants
3 Park Square
Leeds
LS1 2NE


20 November 2023