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REGISTERED NUMBER: 03272056 (England and Wales)












WYATT LUXURY HOMES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






WYATT LUXURY HOMES LIMITED (REGISTERED NUMBER: 03272056)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 5


WYATT LUXURY HOMES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: P R Wyatt
Mrs J M Wyatt



REGISTERED OFFICE: Osbourne House
Monkey Jump, Wellow Common
West Wellow
Romsey
Hampshire
SO51 6BX



REGISTERED NUMBER: 03272056 (England and Wales)



BANKERS: National Westminster Bank plc
50 Cheap Street
Sherbourne
Dorset
DT9 3BH

WYATT LUXURY HOMES LIMITED (REGISTERED NUMBER: 03272056)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 2,080 2,448
Investment property 5 881,680 1,243,829
883,760 1,246,277

CURRENT ASSETS
Work in progress 84,000 84,000
Debtors 6 2,990 1,393
Cash at bank 1,000 1,000
87,990 86,393
CREDITORS
Amounts falling due within one year 7 (542,479 ) (1,029,681 )
NET CURRENT LIABILITIES (454,489 ) (943,288 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

429,271

302,989

PROVISIONS FOR LIABILITIES 8 (30,250 ) -
NET ASSETS 399,021 302,989

CAPITAL AND RESERVES
Called up share capital 100 100
Non distributable P&L reserve 129,182 -
Retained earnings 269,739 302,889
SHAREHOLDERS' FUNDS 399,021 302,989

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.

WYATT LUXURY HOMES LIMITED (REGISTERED NUMBER: 03272056)

BALANCE SHEET - continued
31 MARCH 2023


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.

WYATT LUXURY HOMES LIMITED (REGISTERED NUMBER: 03272056)

BALANCE SHEET - continued
31 MARCH 2023



The financial statements were approved by the Board of Directors and authorised for issue on 2 November 2023 and were signed on its behalf by:





P R Wyatt - Director


WYATT LUXURY HOMES LIMITED (REGISTERED NUMBER: 03272056)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Wyatt Luxury Homes 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies' regime.

The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 15% Reducing balance

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.

Gains on revaluation of investment properties are shown in non-distributable reserve, net of deferred tax.

Work in progress
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

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

Basic financial assets, which include trade and other receivables 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.

WYATT LUXURY HOMES LIMITED (REGISTERED NUMBER: 03272056)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

Financial liabilities
Basic financial liabilities which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 April 2022
and 31 March 2023 3,124
DEPRECIATION
At 1 April 2022 676
Charge for year 368
At 31 March 2023 1,044
NET BOOK VALUE
At 31 March 2023 2,080
At 31 March 2022 2,448

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 1,243,829
Disposals (521,581 )
Revaluations 159,432
At 31 March 2023 881,680
NET BOOK VALUE
At 31 March 2023 881,680
At 31 March 2022 1,243,829

WYATT LUXURY HOMES LIMITED (REGISTERED NUMBER: 03272056)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. INVESTMENT PROPERTY - continued

Investment property was valued on an open market basis on 31 March 2023 by the board of Directors. The fair value carried forward was considered to be the open market value.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,021 -
Other debtors 1,969 1,393
2,990 1,393

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1,021 -
Taxation and social security 3,635 4,291
Other creditors 537,823 1,025,390
542,479 1,029,681

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 30,250 -

Deferred
tax
£   
Revaluation of properties 30,250
Balance at 31 March 2023 30,250