UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2023 |
FOR |
M WARWICK HOLDINGS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2023 |
FOR |
M WARWICK HOLDINGS LIMITED |
M WARWICK HOLDINGS LIMITED (REGISTERED NUMBER: 05771575) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 31 May 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
M WARWICK HOLDINGS LIMITED |
COMPANY INFORMATION |
For The Year Ended 31 May 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
M WARWICK HOLDINGS LIMITED (REGISTERED NUMBER: 05771575) |
BALANCE SHEET |
31 May 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Revaluation reserve | 11 |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
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 |
M WARWICK HOLDINGS LIMITED (REGISTERED NUMBER: 05771575) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 31 May 2023 |
1. | STATUTORY INFORMATION |
M Warwick Holdings Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about M Warwick Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Turnover |
Turnover represents rents and management charges receivable. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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 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. |
Investment properties |
Investment properties are revalued annually. Surpluses or deficits on individual properties are transferred to the investment revaluation reserve. Deficits in excess of prior revaluation surpluses on the same property are charged to the profit and loss account. Depreciation is not provided. |
Listed investments |
Listed investments comprise investments listed on the London Stock Exchange and are revalued annually at market value. Surpluses or deficits are transferred to the revaluation reserve. Deficits in excess of prior revaluation surpluses are charged to the profit and loss account. Depreciation is not provided |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
M WARWICK HOLDINGS LIMITED (REGISTERED NUMBER: 05771575) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 May 2023 |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group | Other |
undertakings | investments | Totals |
£ | £ | £ |
COST |
At 1 June 2022 |
and 31 May 2023 | 453,792 |
PROVISIONS |
At 1 June 2022 | - | 379,518 | 379,518 |
Provision for year | - | 24,105 | 24,105 |
At 31 May 2023 | - | 403,623 | 403,623 |
NET BOOK VALUE |
At 31 May 2023 | 50,169 |
At 31 May 2022 | 74,274 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 June 2022 |
and 31 May 2023 |
NET BOOK VALUE |
At 31 May 2023 |
At 31 May 2022 |
Fair value at 31 May 2023 is represented by: |
£ |
Valuation in 2023 | 3,350,000 |
Investment properties are valued by the director on an open market current use basis annually. The historic cost of the properties shown at valuation of £3,350,000 is £2,316,641. |
The valuation by the director has been undertaken through property market research to include evidence on comparable sales and rental investment yields. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed by associates |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
M WARWICK HOLDINGS LIMITED (REGISTERED NUMBER: 05771575) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 May 2023 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans due in more than 5 years | 545,839 | 970,000 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank loan | 780,839 | 1,178,792 |
Bank loans are secured by way of a debenture over all property and undertaking of the company. |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary A | £1 | 100 | 100 |
Ordinary B | £1 | 100 | 100 |
200 | 200 |
11. | RESERVES |
Revaluation |
reserve |
£ |
At 1 June 2022 |
Revaluation | (39,801 | ) |
At 31 May 2023 |
12. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31 May 2023 and 31 May 2022: |
2023 | 2022 |
£ | £ |
Balance outstanding at start of year |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Interest is charged at a rate of 2% per annum. |