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Registered Number: 09617204
England and Wales

 

 

 

WOLLATON DEVELOPMENT LTD


Abridged Accounts
 


Period of accounts

Start date: 01 April 2022

End date: 31 March 2023
Accountants report
You consider that the company is exempt from an audit for the year ended 31 March 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.



....................................................
Akhters Limited
64 Castle Boulevard
Nottingham
Nottinghamshire
NG7 1FN
29 March 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 1,263,608    1,263,958 
1,263,608    1,263,958 
Current assets      
Debtors: amounts falling due after one year 431,174    333,853 
Cash at bank and in hand 1,057    1,057 
432,231    334,910 
Creditors: amount falling due within one year (87,214)   (77,529)
Net current assets 345,017    257,381 
 
Total assets less current liabilities 1,608,625    1,521,339 
Creditors: amount falling due after more than one year (1,042,613)   (1,042,613)
Net assets 566,012    478,726 
 

Capital and reserves
     
Called up share capital 4 100    100 
Profit and loss account 565,912    478,626 
Shareholder's funds 566,012    478,726 
 


For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006 the profit and loss account has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 29 March 2024 and were signed on its behalf by:


-------------------------------
Mr Sagheer Akhter
Director
2
General Information
Wollaton Development Ltd is a private company, limited by shares, registered in England and Wales, registration number 09617204, registration address 64 Castle Boulevard, Nottingham, Nottinghamshire, NG7 1FN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Rents Received
Rent received comprises the value of services supplied by the company, net of any trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 18% Reducing Balance
Investment properties
Investment properties are included in the balance sheet at their open market value at the balance sheet date. The resulting aggregate surplus or deficit is transferred to a revaluation reserve. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the balance sheet to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
2.

Average number of employees

Average number of employees during the year was 3 (2022 : 3).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Investment properties   Total
  £   £   £
At 01 April 2022 6,064    1,262,015    1,268,079 
Additions    
Disposals    
At 31 March 2023 6,064    1,262,015    1,268,079 
Depreciation
At 01 April 2022 4,121      4,121 
Charge for year 350      350 
On disposals    
At 31 March 2023 4,471      4,471 
Net book values
Closing balance as at 31 March 2023 1,593    1,262,015    1,263,608 
Opening balance as at 01 April 2022 1,943    1,262,015    1,263,958 


4.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
100 Ordinary shares of £1.00 each 100    100 
100    100 

5.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2023
£
 2022
£
 2023
£
 2022
£
Medina Ltd83,000 83,000 
Medina Nottingham Ltd213,151 213,151 
Clifton View Ltd(80,000)(80,000)
Wollaton View Limited(110,000)(110,000)135,023 37,702 
Mr Mohammed Yasin(38,624)(38,624)

The company has directors in common with Medina Ltd. At the balance sheet date, the company was owed an interest free loan from Medina Ltd, included within debtors due after more than one year.
The company has directors in common with Medina Nottingham Ltd. At the balance sheet date, the company was owed an interest free loan from Medina Nottingham Ltd, included within debtors due after more than one year.
The company has directors in common with Clifton View Ltd. At the balance sheet date, the company owed an interest free loan to Clifton View Ltd, included within creditors due after more than one year.
Wollaton View Limited is a 100% subsidiary of Wollaton Development Ltd. During the year, the company charged rent to Wollaton View Limited at market value and on normal commercial terms. The year end balance is included within creditors due after more than one year.
Mr Mohammed Yasin is the father of the director Mr Sajaid Mahmood. At the balance sheet date, the company owed an interest free loan to Mohammed Yasin, included within creditors due after more than one year.
3