Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31false2022-03-01Property investment and property dealing3true4trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 00861185 2022-03-01 2023-03-31 00861185 2021-03-01 2022-02-28 00861185 2023-03-31 00861185 2022-02-28 00861185 2021-03-01 00861185 1 2022-03-01 2023-03-31 00861185 1 2021-03-01 2022-02-28 00861185 2 2022-03-01 2023-03-31 00861185 2 2021-03-01 2022-02-28 00861185 3 2022-03-01 2023-03-31 00861185 3 2021-03-01 2022-02-28 00861185 d:Director1 2022-03-01 2023-03-31 00861185 e:FurnitureFittings 2022-03-01 2023-03-31 00861185 e:FurnitureFittings 2023-03-31 00861185 e:FurnitureFittings 2022-02-28 00861185 e:FurnitureFittings e:OwnedOrFreeholdAssets 2022-03-01 2023-03-31 00861185 e:ComputerEquipment 2022-03-01 2023-03-31 00861185 e:ComputerEquipment 2023-03-31 00861185 e:ComputerEquipment 2022-02-28 00861185 e:ComputerEquipment e:OwnedOrFreeholdAssets 2022-03-01 2023-03-31 00861185 e:OwnedOrFreeholdAssets 2022-03-01 2023-03-31 00861185 e:FreeholdInvestmentProperty 2022-03-01 2023-03-31 00861185 e:FreeholdInvestmentProperty 2023-03-31 00861185 e:FreeholdInvestmentProperty 2022-02-28 00861185 e:FreeholdInvestmentProperty 2 2022-03-01 2023-03-31 00861185 e:CurrentFinancialInstruments 2023-03-31 00861185 e:CurrentFinancialInstruments 2022-02-28 00861185 e:CurrentFinancialInstruments e:WithinOneYear 2023-03-31 00861185 e:CurrentFinancialInstruments e:WithinOneYear 2022-02-28 00861185 e:ShareCapital 2022-03-01 2023-03-31 00861185 e:ShareCapital 2023-03-31 00861185 e:ShareCapital 2021-03-01 2022-02-28 00861185 e:ShareCapital 2022-02-28 00861185 e:ShareCapital 2021-03-01 00861185 e:OtherMiscellaneousReserve 2022-03-01 2023-03-31 00861185 e:OtherMiscellaneousReserve 2023-03-31 00861185 e:OtherMiscellaneousReserve 1 2022-03-01 2023-03-31 00861185 e:OtherMiscellaneousReserve 2 2022-03-01 2023-03-31 00861185 e:OtherMiscellaneousReserve 3 2022-03-01 2023-03-31 00861185 e:OtherMiscellaneousReserve 2021-03-01 2022-02-28 00861185 e:OtherMiscellaneousReserve 2022-02-28 00861185 e:OtherMiscellaneousReserve 2021-03-01 00861185 e:OtherMiscellaneousReserve 1 2021-03-01 2022-02-28 00861185 e:OtherMiscellaneousReserve 2 2021-03-01 2022-02-28 00861185 e:OtherMiscellaneousReserve 3 2021-03-01 2022-02-28 00861185 e:RetainedEarningsAccumulatedLosses 2022-03-01 2023-03-31 00861185 e:RetainedEarningsAccumulatedLosses 2023-03-31 00861185 e:RetainedEarningsAccumulatedLosses 1 2022-03-01 2023-03-31 00861185 e:RetainedEarningsAccumulatedLosses 2 2022-03-01 2023-03-31 00861185 e:RetainedEarningsAccumulatedLosses 3 2022-03-01 2023-03-31 00861185 e:RetainedEarningsAccumulatedLosses 2021-03-01 2022-02-28 00861185 e:RetainedEarningsAccumulatedLosses 2022-02-28 00861185 e:RetainedEarningsAccumulatedLosses 2021-03-01 00861185 e:RetainedEarningsAccumulatedLosses 1 2021-03-01 2022-02-28 00861185 e:RetainedEarningsAccumulatedLosses 2 2021-03-01 2022-02-28 00861185 e:RetainedEarningsAccumulatedLosses 3 2021-03-01 2022-02-28 00861185 d:FRS102 2022-03-01 2023-03-31 00861185 d:AuditExempt-NoAccountantsReport 2022-03-01 2023-03-31 00861185 d:FullAccounts 2022-03-01 2023-03-31 00861185 d:PrivateLimitedCompanyLtd 2022-03-01 2023-03-31 00861185 e:OtherDeferredTax 2023-03-31 00861185 e:OtherDeferredTax 2022-02-28 00861185 2 2022-03-01 2023-03-31 00861185 f:PoundSterling 2022-03-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 00861185










WINDTOR LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2023

 
WINDTOR LIMITED
REGISTERED NUMBER:00861185

BALANCE SHEET
AS AT 31 MARCH 2023

31 March
28 February
2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,288
3,415

Investment property
 5 
3,989,350
5,355,150

  
3,992,638
5,358,565

Current assets
  

Debtors: amounts falling due within one year
 6 
2,000,124
74,492

Cash at bank and in hand
 7 
286,454
1,338,589

  
2,286,578
1,413,081

Creditors: amounts falling due within one year
 8 
(146,602)
(302,502)

Net current assets
  
 
 
2,139,976
 
 
1,110,579

Total assets less current liabilities
  
6,132,614
6,469,144

Provisions for liabilities
  

Deferred tax
 9 
(189,589)
(390,712)

  
 
 
(189,589)
 
 
(390,712)

Net assets
  
5,943,025
6,078,432


Capital and reserves
  

Called up share capital 
  
245
245

Other reserves
  
1,369,527
2,223,912

Profit and loss account
  
4,573,253
3,854,275

  
5,943,025
6,078,432


Page 1

 
WINDTOR LIMITED
REGISTERED NUMBER:00861185
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 February 2024.




Mr D N Spero
Director

The notes on pages 4 to 11 form part of these financial statements.

Page 2

 
WINDTOR LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 MARCH 2023


Called up share capital
Other reserves
Profit and loss account
Total equity

£
£
£
£


At 1 March 2021
245
2,561,857
3,425,302
5,987,404


Comprehensive income for the year

Profit for the year
-
-
206,367
206,367

Fair value loss on investment property
-
25,000
(25,000)
-

Transfer on sale of investment property
-
(269,174)
269,174
-

Transfer of deferred tax movement due to change in tax rate
-
(93,771)
93,771
-
Total comprehensive income for the year
-
(337,945)
544,312
206,367


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(115,339)
(115,339)



At 1 March 2022
245
2,223,912
3,854,275
6,078,432


Comprehensive income for the period

Loss for the period
-
-
(135,407)
(135,407)

Fair value movement on investment property
-
(240,800)
240,800
-

Transfer on sale of investment property
-
(814,708)
814,708
-

Transfer of deferred tax movement due to change in tax rate
-
201,123
(201,123)
-
Total comprehensive income for the period
-
(854,385)
718,978
(135,407)


At 31 March 2023
245
1,369,527
4,573,253
5,943,025


The notes on pages 4 to 11 form part of these financial statements.

Page 3

 
WINDTOR LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

1.


General information

Windtor Limited is a private company limited by share capital, incorporated in England and Wales, registration number 00861185. The address of the registrated office is 14th Floor, 33 Cavendish Square, London, W1G 0PW.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have considered the ability of the company to pay its liabilities as they fall due and have concluded that it is appropriate to prepare the accounts on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
WINDTOR LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
10%
reducing balance
Computer equipment
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Investment properties

Investment properties are carried at fair value determined annually by directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Page 5

 
WINDTOR LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.8
Financial instruments (continued)

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary
Page 6

 
WINDTOR LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.8
Financial instruments (continued)

course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 7

 
WINDTOR LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.12

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.14

Current and deferred taxation

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the period was 3 (2022 - 4).

Page 8

 
WINDTOR LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

4.


Tangible fixed assets







Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 March 2022
900
13,179
14,079


Additions
-
831
831



At 31 March 2023

900
14,010
14,910



Depreciation


At 1 March 2022
743
9,921
10,664


Charge for the period on owned assets
16
942
958



At 31 March 2023

759
10,863
11,622



Net book value



At 31 March 2023
141
3,147
3,288



At 28 February 2022
157
3,258
3,415

Page 9

 
WINDTOR LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

5.


Investment property





Freehold investment property

£



Valuation


At 1 March 2022
5,355,150


Disposals
(1,125,000)


Surplus on revaluation
(240,800)



At 31 March 2023
3,989,350

The 2023 valuations were made by the directors, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

31 March
28 February
2023
2022
£
£


Historic cost
2,464,589
2,774,881


6.


Debtors

31 March
28 February
2023
2022
£
£


Trade debtors
22,804
67,914

Amounts owed by group undertakings
1,977,255
-

Other debtors
2,026
4,469

Prepayments and accrued income
(1,961)
2,109

2,000,124
74,492



7.


Cash and cash equivalents

31 March
28 February
2023
2022
£
£

Cash at bank and in hand
286,454
1,338,589


Page 10

 
WINDTOR LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

8.


Creditors: Amounts falling due within one year

31 March
28 February
2023
2022
£
£

Corporation tax
93,941
16,579

Other taxation and social security
-
14,259

Other creditors
37,576
255,200

Accruals and deferred income
15,085
16,464

146,602
302,502



9.


Deferred taxation






2023


£






At beginning of year
(390,712)


Charged to profit or loss
201,123



At end of year
(189,589)

The provision for deferred taxation is made up as follows:

31 March
28 February
2023
2022
£
£


Deferred tax on fair movement on investment property
(189,589)
(390,712)


10.


Related party transactions

Included in other creditors is £17,695 (2022: £174,473) owed to the directors.

 
Page 11