Company Registration No. 12838104 (England and Wales)
GCL WILDE INVESTMENT PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023
PAGES FOR FILING WITH REGISTRAR
GCL WILDE INVESTMENT PROPERTIES LIMITED
COMPANY INFORMATION
Directors
Mr G P Wilde
Miss L M Wilde
(Appointed 30 August 2023)
Company number
12838104
Registered office
19 Providence Road
Sidemoor
Bromsgrove
Worcestershire
B61 8EL
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
GCL WILDE INVESTMENT PROPERTIES LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
GCL WILDE INVESTMENT PROPERTIES LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF GCL WILDE INVESTMENT PROPERTIES LIMITED FOR THE PERIOD ENDED 28 FEBRUARY 2023
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of GCL Wilde Investment Properties Limited for the period ended 28 February 2023 which comprise, the 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 at http://www.icaew.com/en/members/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of GCL Wilde Investment Properties 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 GCL Wilde Investment Properties Limited and state those matters that we have agreed to state to the Board of Directors of GCL Wilde Investment Properties Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than GCL Wilde Investment Properties Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that GCL Wilde Investment Properties 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 profit of GCL Wilde Investment Properties Limited. You consider that GCL Wilde Investment Properties Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of GCL Wilde Investment Properties 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.

Ormerod Rutter Limited
2 November 2023
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
GCL WILDE INVESTMENT PROPERTIES LIMITED
BALANCE SHEET
AS AT 28 FEBRUARY 2023
28 February 2023
- 2 -
2023
2021
Notes
£
£
£
£
Fixed assets
Investment properties
3
715,000
705,000
Current assets
Debtors
4
944
-
0
Creditors: amounts falling due within one year
5
(395,561)
(405,984)
Net current liabilities
(394,617)
(405,984)
Total assets less current liabilities
320,383
299,016
Provisions for liabilities
6
(54,296)
(54,296)
Net assets
266,087
244,720
Capital and reserves
Called up share capital
7
10
10
Profit and loss reserves
266,077
244,710
Total equity
266,087
244,720

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 2 November 2023 and are signed on its behalf by:
Mr G P Wilde
Director
Company Registration No. 12838104
GCL WILDE INVESTMENT PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023
- 3 -
1
Accounting policies
Company information

GCL Wilde Investment Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is 19 Providence Road, Sidemoor, Bromsgrove, Worcestershire, B61 8EL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard 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 have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for rents provided in the normal course of business. The fair value of consideration takes into account any lease premiums or rent free periods, which are recognised on a straight line basis over the lease term.

Revenue from the provision of property rental is recognised by reference to the period of its occupancy and where the amount of rent can be measured reliably.

1.3
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 profit or loss.

 

Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

GCL WILDE INVESTMENT PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 FEBRUARY 2023
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was 1 (2021 - 1).

3
Investment property
2023
£
Fair value
At 1 September 2021
705,000
Additions
10,000
At 28 February 2023
715,000

The directors have assessed the fair value of investment property and consider that there has been no significant change in value at the period end.

4
Debtors
2023
2021
Amounts falling due within one year:
£
£
Other debtors
944
-
0
5
Creditors: amounts falling due within one year
2023
2021
£
£
Amounts owed to group undertakings
379,512
401,828
Taxation and social security
5,013
3,156
Other creditors
11,036
1,000
395,561
405,984
GCL WILDE INVESTMENT PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 FEBRUARY 2023
- 5 -
6
Provisions for liabilities
2023
2021
£
£
Deferred tax liabilities
54,296
54,296
7
Called up share capital
2023
2021
£
£
Ordinary share capital
Issued and fully paid
10 Ordinary A of £1 each
10
10
10
10
8
Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

9
Control

Ultimate parent company

The ultimate parent company is GCL Wilde Holdings Limited, a company registered in England and Wales.

Ultimate controlling party

The ultimate controlling party is Mr G P Wilde and Mrs C J Wilde by virtue of their controlling interest in the ultimate parent company.

2023-02-282021-09-01false02 November 2023CCH SoftwareCCH Accounts Production 2023.300No description of principal activityMr G P WildeMiss L M Wildefalse128381042021-09-012023-02-2812838104bus:Director12021-09-012023-02-2812838104bus:Director22021-09-012023-02-2812838104bus:RegisteredOffice2021-09-012023-02-28128381042023-02-28128381042021-08-3112838104core:CurrentFinancialInstruments2023-02-2812838104core:CurrentFinancialInstruments2021-08-3112838104core:ShareCapital2023-02-2812838104core:ShareCapital2021-08-3112838104core:RetainedEarningsAccumulatedLosses2023-02-2812838104core:RetainedEarningsAccumulatedLosses2021-08-3112838104core:ShareCapitalOrdinaryShares2023-02-2812838104core:ShareCapitalOrdinaryShares2021-08-31128381042020-08-262021-08-31128381042021-08-3112838104bus:OrdinaryShareClass12021-09-012023-02-2812838104bus:OrdinaryShareClass12023-02-2812838104bus:PrivateLimitedCompanyLtd2021-09-012023-02-2812838104bus:SmallCompaniesRegimeForAccounts2021-09-012023-02-2812838104bus:FRS1022021-09-012023-02-2812838104bus:AuditExemptWithAccountantsReport2021-09-012023-02-2812838104bus:FullAccounts2021-09-012023-02-28xbrli:purexbrli:sharesiso4217:GBP