REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2023 |
FOR |
WILLOW HOUSE ESTATES LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2023 |
FOR |
WILLOW HOUSE ESTATES LIMITED |
WILLOW HOUSE ESTATES LIMITED (REGISTERED NUMBER: 09075305) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
WILLOW HOUSE ESTATES LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2023 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
Chartered Accountants |
10 Stadium Business Court |
Millennium Way |
Pride Park |
Derby |
DE24 8HP |
WILLOW HOUSE ESTATES LIMITED (REGISTERED NUMBER: 09075305) |
BALANCE SHEET |
30 JUNE 2023 |
2023 | 2022 |
Notes | £ | £ |
Fixed assets |
Investment property | 4 |
Investments | 5 |
Current assets |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Provisions for liabilities | 8 | ( |
) |
Net assets |
Capital and reserves |
Called up share capital | 9 |
Fair value reserve | 10 | ( |
) |
Retained earnings |
Shareholders' funds |
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. |
WILLOW HOUSE ESTATES LIMITED (REGISTERED NUMBER: 09075305) |
BALANCE SHEET - continued |
30 JUNE 2023 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
WILLOW HOUSE ESTATES LIMITED (REGISTERED NUMBER: 09075305) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2023 |
1. | STATUTORY INFORMATION |
Willow House Estates Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
The turnover shown in the profit and loss account represents rents receivable from investment properties during the period. |
Investments |
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. |
The directors have considered the fair value of investment property at the reporting date to be £938,061. This fair value has been calculated based historic purchase price and review of trends in the property market. No professional valuation has been obtained, the methods and significant assumptions applied in determining the fair value of the investment property include consideration into; property market trends local to the investment property, recent property sales local to the investment property, rental yield of the property and the condition of the property. |
Listed investments are measured at fair value with changes in fair value being recognised in the statement of comprehensive income. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 NIL (2022 - NIL). |
WILLOW HOUSE ESTATES LIMITED (REGISTERED NUMBER: 09075305) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2023 |
4. | INVESTMENT PROPERTY |
Freehold |
land |
£ |
Cost |
At 1 July 2022 |
Disposals | ( |
) |
At 30 June 2023 |
Net book value |
At 30 June 2023 |
At 30 June 2022 |
The investment property values were revised at the balance sheet date at an open market value. |
5. | FIXED ASSET INVESTMENTS |
Listed |
investments |
£ |
Cost or valuation |
At 1 July 2022 |
Revaluations | ( |
) |
At 30 June 2023 |
Net book value |
At 30 June 2023 |
At 30 June 2022 |
Cost or valuation at 30 June 2023 is represented by: |
Listed |
investments |
£ |
Valuation in 2023 | 3,832,523 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Deferred tax asset | 4,348 | - |
Prepayments and accrued income |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Tax |
Accruals and deferred income |
Directors' loan accounts |
WILLOW HOUSE ESTATES LIMITED (REGISTERED NUMBER: 09075305) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2023 |
8. | PROVISIONS FOR LIABILITIES |
2022 |
£ |
Deferred tax | 10,155 |
Deferred tax |
£ |
Balance at 1 July 2022 |
Provided during year | ( |
) |
Charge during the year |
Balance at 30 June 2023 | ( |
) |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
A Ordinary | £1 | 2 | 2 |
B Ordinary | £1 | 6,000 | 6,000 |
6,002 | 6,002 |
10. | RESERVES |
Fair value |
reserve |
£ |
At 1 July 2022 |
Reserve transfers | (43,510 | ) |
At 30 June 2023 | ( |
) |
11. | RELATED PARTY TRANSACTIONS |
The company was under the control of the directors and shareholders. |
No transactions with related parties were undertaken such as are required to be disclosed under FRS 102. |
12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 30 June 2023 and 30 June 2022: |
2023 | 2022 |
£ | £ |
Balance outstanding at start of year | ( |
) | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) | ( |
) |