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REGISTERED NUMBER: 10413182 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2022

FOR

WINFORD HOLDING LTD

WINFORD HOLDING LTD (REGISTERED NUMBER: 10413182)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 OCTOBER 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


WINFORD HOLDING LTD

COMPANY INFORMATION
For The Year Ended 31 OCTOBER 2022







DIRECTOR: A S Kounnis





REGISTERED OFFICE: 1 Kings Avenue
London
N21 3NA





REGISTERED NUMBER: 10413182 (England and Wales)





ACCOUNTANTS: AGK Partners
Chartered Accountants
1 Kings Avenue
London
N21 3NA

WINFORD HOLDING LTD (REGISTERED NUMBER: 10413182)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,736 9,523
Investments 5 42,093 161,544
Investment property 6 2,203,000 2,200,000
2,251,829 2,371,067

CURRENT ASSETS
Debtors 7 3,144 2,538
Cash at bank and in hand 544 57,269
3,688 59,807
CREDITORS
Amounts falling due within one year 8 89,572 1,041,871
NET CURRENT LIABILITIES (85,884 ) (982,064 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,165,945

1,389,003

CREDITORS
Amounts falling due after more than one
year

9

(745,000

)

(299,579

)

PROVISIONS FOR LIABILITIES (177,577 ) (177,509 )
NET ASSETS 1,243,368 911,915

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 70,191 70,191
Retained earnings 1,173,077 841,624
1,243,368 911,915

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

WINFORD HOLDING LTD (REGISTERED NUMBER: 10413182)

STATEMENT OF FINANCIAL POSITION - continued
31 OCTOBER 2022


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 director and authorised for issue on 29 January 2024 and were signed by:





A S Kounnis - Director


WINFORD HOLDING LTD (REGISTERED NUMBER: 10413182)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 OCTOBER 2022

1. STATUTORY INFORMATION

Winford Holding Ltd 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 as modified by the revaluation of certain assets.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period. or in the period of the revision and future periods where the revision affects both current and future periods. There are no significant judgements or estimates involved in the preparation of the financial statements.

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

Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Plant and machinery - 25% on straight line

The company has adopted the policy of not depreciating the assets in the first year, however full depreciation is provided in the year of disposal.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property, which is property held to earn rentals, 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 date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Basic financial assets and liabilities, which include debtors, creditors, 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 financing 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.


WINFORD HOLDING LTD (REGISTERED NUMBER: 10413182)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 OCTOBER 2022

2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
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 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 1 (2021 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 November 2021 43,055
Additions 7,708
Disposals (5,162 )
At 31 October 2022 45,601
DEPRECIATION
At 1 November 2021 33,532
Charge for year 9,446
Eliminated on disposal (4,113 )
At 31 October 2022 38,865
NET BOOK VALUE
At 31 October 2022 6,736
At 31 October 2021 9,523

5. FIXED ASSET INVESTMENTS

2022 2021
£    £   
Shares in group undertakings 42,093 89,681
Other investments not loans - 71,863
42,093 161,544

WINFORD HOLDING LTD (REGISTERED NUMBER: 10413182)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 OCTOBER 2022

5. FIXED ASSET INVESTMENTS - continued

Additional information is as follows:
Shares in
group
undertakings
£   
COST
At 1 November 2021 89,681
Disposals (47,588 )
At 31 October 2022 42,093
NET BOOK VALUE
At 31 October 2022 42,093
At 31 October 2021 89,681

Investments (neither listed nor unlisted) were as follows:
2022 2021
£    £   
Investment in Shares - 49,829
Exchange Traded Products - 22,034
- 71,863

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2021 2,200,000
Additions 3,000
At 31 October 2022 2,203,000
NET BOOK VALUE
At 31 October 2022 2,203,000
At 31 October 2021 2,200,000

The Investment property was measured at fair value at the year end. The fair value was determined by the company's director. No valuation from an independent valuer who holds a recognised and relevant professional qualification has been obtained.

Fair value at 31 October 2022 is represented by:
£   
Valuation in 2020 926,795
Cost 1,276,205
2,203,000

Investment Property was valued on open market basis on 31 October 2022 by director .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Amounts owed by group undertakings - 331
Other debtors 3,144 2,207
3,144 2,538

WINFORD HOLDING LTD (REGISTERED NUMBER: 10413182)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 OCTOBER 2022

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Taxation and social security 86,273 13,799
Other creditors 3,299 1,028,072
89,572 1,041,871

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans - 299,579
Amounts owed to group undertakings 745,000 -
745,000 299,579

10. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loans - 299,579

Bank loan is secured by way of fixed charge on the property and other assets of the company and contains a negative pledge.

11. RELATED PARTY DISCLOSURES

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.

Included in other creditors, amount falling due with in one year, is an amount of £Nil (2021: £1,026,872) owed to the director of the company. The loan is interest free and repayable on demand.