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Company registration number:
00401911
(England and Wales)
WINCH & BLATCH LIMITED
Unaudited filleted financial statements
for the year ended
31 January 2024
WINCH & BLATCH LIMITED
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
WINCH & BLATCH LIMITED
Directors and other information
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Directors |
Mr R J Blatch |
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Mrs J R Blatch |
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Secretary |
Mrs J R Blatch |
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Company number |
00401911 |
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Registered office |
4 & 5 The Cedars |
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Apex 12, Old Ipswich Road |
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Colchester |
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Essex |
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CO7 7QR |
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Accountants |
Griffin Chapman |
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4 & 5 The Cedars |
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Apex 12, Old Ipswich Road |
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Colchester |
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Essex |
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CO7 7QR |
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WINCH & BLATCH LIMITED
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of WINCH & BLATCH LIMITED
Year ended 31 January 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of WINCH & BLATCH LIMITED for the year ended 31 January 2024 which comprise the statement of financial position, statement of changes in equity and 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 WINCH & BLATCH LIMITED, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of WINCH & BLATCH LIMITED and state those matters that we have agreed to state to the board of directors of WINCH & BLATCH 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 WINCH & BLATCH LIMITED and its board of directors as a body for our work or for this report.
It is your duty to ensure that WINCH & BLATCH 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 WINCH & BLATCH LIMITED. You consider that WINCH & BLATCH LIMITED is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of WINCH & BLATCH 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.
Griffin Chapman
Chartered Accountants
4 & 5 The Cedars
Apex 12, Old Ipswich Road
Colchester
Essex
CO7 7QR
20 February 2024
WINCH & BLATCH LIMITED
Statement of financial position
31 January 2024
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2024 |
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2023 |
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Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
|
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Tangible assets |
|
5 |
3,182,001 |
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3,182,001 |
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Investments |
|
6 |
12,300 |
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|
12,300 |
|
|
|
|
|
_______ |
|
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|
_______ |
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|
|
|
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3,194,301 |
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3,194,301 |
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Current assets |
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Debtors |
|
7 |
45,453 |
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38,247 |
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Cash at bank and in hand |
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|
243,919 |
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257,704 |
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|
_______ |
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_______ |
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289,372 |
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295,951 |
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Creditors: amounts falling due |
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within one year |
|
8 |
(
10,466) |
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|
(
13,612) |
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|
_______ |
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|
_______ |
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Net current assets |
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278,906 |
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282,339 |
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_______ |
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_______ |
Total assets less current liabilities |
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3,473,207 |
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3,476,640 |
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Provisions for liabilities |
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(
170,852) |
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(
170,852) |
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_______ |
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_______ |
Net assets |
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3,302,355 |
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3,305,788 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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9,000 |
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9,000 |
Revaluation reserve |
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2,538,099 |
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2,538,099 |
Profit and loss account |
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755,256 |
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758,689 |
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_______ |
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_______ |
Shareholders funds |
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3,302,355 |
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3,305,788 |
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_______ |
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_______ |
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For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
20 February 2024
, and are signed on behalf of the board by:
Mr R J Blatch
Director
Company registration number:
00401911
WINCH & BLATCH LIMITED
Notes to the financial statements
Year ended 31 January 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4 & 5 The Cedars, Apex 12, Old Ipswich Road, Colchester, Essex, CO7 7QR.
The principal activity of the company continues to be that of a property investment company.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
Due to the change in business the directors have a reasonable expectation that the company had adequate resources to continue in operational existence for the foreseeable future. For those reasons, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Investment property
Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2023:
2
).
5.
Tangible assets
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Long leasehold property |
Total |
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£ |
£ |
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Cost |
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At 1 February 2023 and 31 January 2024 |
3,182,001 |
3,182,001 |
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_______ |
_______ |
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Depreciation |
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At 1 February 2023 and 31 January 2024 |
- |
- |
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_______ |
_______ |
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Carrying amount |
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At 31 January 2024 |
3,182,001 |
3,182,001 |
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|
|
|
|
|
|
_______ |
_______ |
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|
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At 31 January 2023 |
3,182,001 |
3,182,001 |
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_______ |
_______ |
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Investment property
Included within the above is investment property measured at fair value as follows:
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£ |
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At 1 February 2023 and 31 January 2024 |
3,182,001 |
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_______ |
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The freehold investment properties have been valued at their estimate of open market value by the directors at 31 January 2022. The historical cost of the properties is £629,917
6.
Investments
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Shares in group undertakings and participating interests |
Total |
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£ |
£ |
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|
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Cost |
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|
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|
At 1 February 2023 and 31 January 2024 |
12,300 |
12,300 |
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|
|
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|
_______ |
_______ |
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Impairment |
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At 1 February 2023 and 31 January 2024 |
- |
- |
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_______ |
_______ |
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|
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Carrying amount |
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|
|
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|
At 31 January 2024 |
12,300 |
12,300 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31 January 2023 |
12,300 |
12,300 |
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|
|
|
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|
_______ |
_______ |
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7.
Debtors
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Other debtors |
|
45,453 |
38,247 |
|
|
|
_______ |
_______ |
|
|
|
|
|
8.
Creditors: amounts falling due within one year
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|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Trade creditors |
|
- |
1,243 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
6,150 |
6,150 |
|
Social security and other taxes |
|
423 |
324 |
|
Other creditors |
|
3,893 |
5,895 |
|
|
|
_______ |
_______ |
|
|
|
10,466 |
13,612 |
|
|
|
_______ |
_______ |
|
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|
9.
Exemption of group accounts
Winch & Blatch Ltd is the parent of a small group and is exempt from preparing group accounts.