REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 |
FOR |
WHEATLEY PROPERTY HOLDINGS LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 |
FOR |
WHEATLEY PROPERTY HOLDINGS LTD |
WHEATLEY PROPERTY HOLDINGS LTD (REGISTERED NUMBER: 12696525) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
WHEATLEY PROPERTY HOLDINGS LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
trading as |
Peter Jarman & Company |
1 Harbour House |
Harbour Way |
Shoreham by Sea |
West Sussex |
BN43 5HZ |
WHEATLEY PROPERTY HOLDINGS LTD (REGISTERED NUMBER: 12696525) |
STATEMENT OF FINANCIAL POSITION |
30 JUNE 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
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. |
WHEATLEY PROPERTY HOLDINGS LTD (REGISTERED NUMBER: 12696525) |
STATEMENT OF FINANCIAL POSITION - continued |
30 JUNE 2023 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
WHEATLEY PROPERTY HOLDINGS LTD (REGISTERED NUMBER: 12696525) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2023 |
1. | STATUTORY INFORMATION |
Wheatley Property Holdings Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents rents receivable on investment properties for the accounting period |
Investment property |
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. |
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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 |
WHEATLEY PROPERTY HOLDINGS LTD (REGISTERED NUMBER: 12696525) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2023 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 July 2022 |
Additions |
Revaluations | 89,306 |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
Fair value at 30 June 2023 is represented by: |
£ |
Valuation in 2022 | 28,915 |
Valuation in 2023 | 89,305 |
Cost | 301,780 |
420,000 |
If investment property had not been revalued it would have been included at the following historical cost: |
2023 | 2022 |
£ | £ |
Cost | 301,780 | 185,862 |
Investment property was valued on an open market basis on 30 June 2023 by R Wheatley . |
The first property was valued at £98,311 in the financial accounts for 2021, the property has been valued at £109,437 on the 30th June 2022, the property has been valued at £140,000 on the 30th June 2023 |
The second property was valued at £87,550 in the financial accounts for 2021, the property has been valued at £105,339 on the 30th June 2022. the property has been valued at £140,000 on the 30th June 2023 |
The third property was valued at £140,000 in the financial accounts for 2023 |
The combined value of the properties at the financial year end is £420,000. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other creditors |
WHEATLEY PROPERTY HOLDINGS LTD (REGISTERED NUMBER: 12696525) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Mortgage - 38 ES | 64,982 | 64,995 |
Mortgage - 10FS | 86,191 | 72,870 |
Mortgage - 5 Witham | 81,663 | - |
232,836 | 137,865 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank loans |
The mortgages are secured charges over the assets in the company, including the investment properties. |
9. | PROVISIONS FOR LIABILITIES |
2023 | 2022 |
£ | £ |
Deferred tax | 22,462 | 345 |
Deferred |
tax |
£ |
Balance at 1 July 2022 |
Deferred tax on revaluation of |
investment property | 16,968 |
Deferred tax on losses | 5,149 |
Balance at 30 June 2023 |
10. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 July 2022 |
Non-distributable reserve | 72,338 |
At 30 June 2023 |