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Registered Number: 12980722
England and Wales

 

 

 

WILLOW PROPERTIES (U.K.) LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 October 2022

End date: 30 September 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 540,000    484,744 
540,000    484,744 
Current assets      
Debtors 4 8,446    1 
Cash at bank and in hand 2,470    11,718 
10,916    11,719 
Creditors: amount falling due within one year 5 (477,011)   (375,351)
Net current liabilities (466,095)   (363,632)
 
Total assets less current liabilities 73,905    121,112 
Creditors: amount falling due after more than one year 6   (111,255)
Provisions for liabilities 7 (10,500)  
Net assets 63,405    9,857 
 

Capital and reserves
     
Called up share capital 1    1 
Reserves 8 55,256   
Profit and loss account 8,148    9,856 
Shareholder's funds 63,405    9,857 
 


For the year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 24 November 2023 and were signed by:


-------------------------------
JNB Bovill
Director
1
General Information
Willow Properties (U.K.) Ltd is a private company, limited by shares, registered in England and Wales, registration number 12980722, registration address 8 Beech Court, Wokingham Road, Reading, Berkshire, RG10 0RQ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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)
Going concern
The accounts are prepared on a going concern basis. The use of the going concern basis of accounting is appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.
Turnover
Turnover is recognised as the amounts, net of Value Added Tax, derived from the rental of a property.
Rental income qualifying as applicable to operating leases, where substantially all of the benefits and risks of ownership remain with the company, is recognised on a straight-line basis over the period of the lease.
.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of income, 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 statement of financial position date.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 and 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.
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.

Investment properties are recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Debtors
Short term debtors are measured at transaction price less any impairment. Loans receivable are measured at initially at fair value, net of transaction costs, and are measured subsequently at amortised costs using the effective interest method.
Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans are measured initially at fair value, net of transaction costs, and are subsequently measured at amortised costs using the effective interest method.
Financial instruments
The company has elected to apply the provisions 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 balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with 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.
2.

Average number of employees


Average number of employees during the year was 1 (2022 : 1).
3.

Tangible fixed assets

Cost or valuation Investment properties   Total
  £   £
At 01 October 2022 484,744    484,744 
Additions  
Disposals  
Revaluations 55,256    55,256 
At 30 September 2023 540,000    540,000 
Depreciation
At 01 October 2022  
Charge for year  
On disposals  
At 30 September 2023  
Net book values
Closing balance as at 30 September 2023 540,000    540,000 
Opening balance as at 01 October 2022 484,744    484,744 

Investment property comprises a commercial unit rented to a company under common control.  The fair value of the investment property has been arrived at on an open market basis by reference to market evidence of transaction prices for similar properties.

4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 8,445   
Amount Owed by Group Undertakings 1    1 
8,446    1 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors   1,213 
Bank Loans & Overdrafts (Secured)   9,873 
Amounts Owed to Group Undertakings 474,666    355,410 
Corporation Tax 2,344    410 
Accrued Expenses   8,445 
Other Creditors 1   
477,011    375,351 

6.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts (secured)   111,255 
  111,255 
Bank loans included in notes 5 and 6 are secured by way of a fixed charge over the assets of the company.

7.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 10,500   
10,500   

8.

Reserves

2023
£
  2022
£
Transfers to/from Other Reserves 55,256   
55,256   

9.

Ultimate controlling party

The director J N B Bovill is the ultimate controlling party by virtue of his 100% shareholding in Dawcul Holdings Limited, the parent company.
2