IRIS Accounts Production v23.3.1.45 11953881 Board of Directors 1.6.22 31.5.23 31.5.23 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure119538812022-05-31119538812023-05-31119538812022-06-012023-05-31119538812021-05-31119538812021-06-012022-05-31119538812022-05-3111953881ns16:EnglandWales2022-06-012023-05-3111953881ns15:PoundSterling2022-06-012023-05-3111953881ns11:Director12022-06-012023-05-3111953881ns11:PrivateLimitedCompanyLtd2022-06-012023-05-3111953881ns11:SmallEntities2022-06-012023-05-3111953881ns11:AuditExempt-NoAccountantsReport2022-06-012023-05-3111953881ns11:SmallCompaniesRegimeForDirectorsReport2022-06-012023-05-3111953881ns11:SmallCompaniesRegimeForAccounts2022-06-012023-05-3111953881ns11:FullAccounts2022-06-012023-05-3111953881ns11:Director22022-06-012023-05-3111953881ns11:RegisteredOffice2022-06-012023-05-3111953881ns6:CurrentFinancialInstruments2023-05-3111953881ns6:CurrentFinancialInstruments2022-05-3111953881ns6:Non-currentFinancialInstruments2023-05-3111953881ns6:Non-currentFinancialInstruments2022-05-3111953881ns6:ShareCapital2023-05-3111953881ns6:ShareCapital2022-05-3111953881ns6:RevaluationReserve2023-05-3111953881ns6:RevaluationReserve2022-05-3111953881ns6:RetainedEarningsAccumulatedLosses2023-05-3111953881ns6:RetainedEarningsAccumulatedLosses2022-05-3111953881ns6:WithinOneYearns6:CurrentFinancialInstruments2023-05-3111953881ns6:WithinOneYearns6:CurrentFinancialInstruments2022-05-3111953881ns6:RevaluationReserve2022-05-31
REGISTERED NUMBER: 11953881 (England and Wales)










W & S Property & Land Limited

Unaudited Financial Statements

for the Year Ended 31 May 2023






W & S Property & Land Limited (Registered number: 11953881)






Contents of the Financial Statements
for the year ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


W & S Property & Land Limited

Company Information
for the year ended 31 May 2023







DIRECTORS: Mr W L Thomas
Mrs S E Thomas





REGISTERED OFFICE: Penllwyn Farm
Llyn Helyg
Lloc
Holywell
Flintshire
CH8 8SB





REGISTERED NUMBER: 11953881 (England and Wales)





ACCOUNTANTS: Salisbury & Company
Chartered Accountants
Irish Square
Upper Denbigh Road
St Asaph
Denbighshire
LL17 0RN

W & S Property & Land Limited (Registered number: 11953881)

Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 7,900,800 6,267,500

CURRENT ASSETS
Debtors 5 17,482 565,073
Cash at bank 51,226 111,737
68,708 676,810
CREDITORS
Amounts falling due within one year 6 1,959,207 1,100,105
NET CURRENT LIABILITIES (1,890,499 ) (423,295 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,010,301

5,844,205

CREDITORS
Amounts falling due after more than one
year

7

2,902,959

3,406,505
NET ASSETS 3,107,342 2,437,700

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 8 1,677,671 1,677,671
Retained earnings 1,429,571 759,929
SHAREHOLDERS' FUNDS 3,107,342 2,437,700

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 11 July 2023 and were signed on its behalf by:





Mr W L Thomas - Director


W & S Property & Land Limited (Registered number: 11953881)

Notes to the Financial Statements
for the year ended 31 May 2023

1. STATUTORY INFORMATION

W & S Property & Land 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 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.

As at the balance sheet date, the company had net liabilities. This has arisen due to the costs of establishing the company and property portfolio. The company has a long term forecast, which together with the tenancies secured, will see the company operate profitably.

The financial statements have been prepared on a going concern basis.

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

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.

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 2 (2022 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022 6,267,500
Additions 1,633,300
At 31 May 2023 7,900,800
NET BOOK VALUE
At 31 May 2023 7,900,800
At 31 May 2022 6,267,500

W & S Property & Land Limited (Registered number: 11953881)

Notes to the Financial Statements - continued
for the year ended 31 May 2023

4. INVESTMENT PROPERTY - continued

Fair value at 31 May 2023 is represented by:
£   
Valuation in 2021 5,750,000
Valuation in 2022 517,500
Valuation in 2023 1,633,300
7,900,800

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 250,676
Amounts owed by participating interests - 314,397
Other debtors 17,482 -
17,482 565,073

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 368,290 357,089
Trade creditors 317,845 40,450
Amounts owed to participating interests 570,239 41,000
Taxation and social security 280,326 203,495
Other creditors 422,507 458,071
1,959,207 1,100,105

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 2,902,959 3,406,505

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,429,798 2,378,150

8. RESERVES
Fair
value
reserve
£   
At 1 June 2022
and 31 May 2023 1,677,671

Fair value reserve represents the undistributable reserves arising from the recognition of investment properties at fair value.