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Registration number: 11989284

Winslade Future Investment Company Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 May 2023

 

Winslade Future Investment Company Limited

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 5

 

Winslade Future Investment Company Limited

(Registration number: 11989284)
Abridged Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Other financial assets

4

1,881,691

2,200,939

Current assets

 

Cash at bank and in hand

 

105,266

15,169

Creditors: Amounts falling due within one year

(1,862,618)

(1,977,865)

Net current liabilities

 

(1,757,352)

(1,962,696)

Total assets less current liabilities

 

124,339

238,243

Provisions for liabilities

(40,648)

(47,769)

Net assets

 

83,691

190,474

Capital and reserves

 

Called up share capital

2

2

Other reserves

156,504

372,112

Profit and loss account

(72,815)

(181,640)

Total equity

 

83,691

190,474

 

Winslade Future Investment Company Limited

(Registration number: 11989284)
Abridged Balance Sheet as at 31 May 2023

For the financial year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the Company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 25 January 2024 and signed on its behalf by:
 


Mr C Winslade

Director


Mrs E G Winslade

Director

 

Winslade Future Investment Company Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2023

1

General information

The company is a private company limited by share capital, incorporated in England..

The address of its registered office is:
Calyx House
South Road
Taunton
Somerset
TA1 3DU

These financial statements were authorised for issue by the Board on 25 January 2024.

2

Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The directors have considered the financial position of the company in view of the results in the year ended 31 May 2023.

The company's ability to continue trading is reliant on C Winslade and E Winslade, all directors, continuing to support the company through their directors' loan account. The directors have agreed not to seek repayment of the amounts owed to them within 12 months of the date of the accounts where this would affect the company's ability to trade.

The directors have considered a period of 12 months from the date of approval of the financial statements and consider it appropriate to prepare the financial statements on the going concern basis.

 

Winslade Future Investment Company Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2023

Prior period errors

Incorrect Fair value reserves included in the accounts.
The comaparative period 2022 has been restated to post £131,470 from Fair value reserves to Profit and loss reserves.
The comparative period has been restated and in current year reserves have been updated with an adjustment of £148,963 to decrease the brought forward reserves,

 

Relating to the current period disclosed in these financial statements
£

Relating to the prior period disclosed in these financial statements
£

Relating to periods before the prior period disclosed in these financial statements
£

Revaluation Gain/Loss

-

162,309

Deferred Tax on revaluation

-

(30,839)

Fair Value reserves adjustment

(148,963)

-

    

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable the future economic benefits will flow into the entity, and specific criteria have been met for each of the company activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Investments

Investments in equity shares where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in other comprehensive income. Investments in equity shares where fair value cannot be measured reliably are measured at cost less impairment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Winslade Future Investment Company Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2023

4

Other financial assets (current and non-current)

Total
£

Non-current financial assets

Cost or valuation

At 1 June 2022

2,200,939

Fair value adjustments

(87,436)

Additions

95,491

Disposals

(327,303)

At 31 May 2023

1,881,691

Carrying amount

At 31 May 2023

1,881,691