REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
FOR |
WILDINGS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
FOR |
WILDINGS LIMITED |
WILDINGS LIMITED (REGISTERED NUMBER: 00119916) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
WILDINGS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JANUARY 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
18 Gold Tops |
Newport |
NP20 5WJ |
WILDINGS LIMITED (REGISTERED NUMBER: 00119916) |
BALANCE SHEET |
31 JANUARY 2024 |
31.1.24 | 31.1.23 |
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 |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
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. |
WILDINGS LIMITED (REGISTERED NUMBER: 00119916) |
BALANCE SHEET - continued |
31 JANUARY 2024 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
WILDINGS LIMITED (REGISTERED NUMBER: 00119916) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
1. | STATUTORY INFORMATION |
Wildings Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Pension costs and other post-retirement benefits |
The company operates a defined benefit pension scheme for some of it's employees. The regular pension cost is charged to the profit and loss account and is based on the expected pension costs over the service life of the employees. Any pension deficit is rectified by the payment of increased employer contributions, as recommended by an actuary.The surplus or deficit is calculated every 3 years by an actuary.The directors do not recognise the current surplus within the company accounts. |
The company also operates a defined contribution scheme for other employees. Contributions payable to this scheme are charged to the profit and loss account as incurred. |
Although the trustees are able to reduce contributions to recover any surplus, for small schemes such as this one any deviation from actuarial assumptions can lead to significant changes in both the funding position of the scheme and the contributions within fairly short periods. An actuarial valuation has taken place in 2023. |
Deferred taxation |
Full provision is made for deferred tax assets and liabilities arising from timing differences between the recognition of gains and losses in the financial statements and their recognition in tax liabilities. Deferred tax is recognised as a liability or asset if the transactions or events give rise to an obligation to pay more tax in future periods have occurred by the balance sheet date. |
Investment property |
The directors have now adopted a policy to revalue investment property . The valuations have been based on a combination of bank valuations, investment yields and discussions with a qualified surveyor . |
Income from investment properties is included on a receivable basis. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
WILDINGS LIMITED (REGISTERED NUMBER: 00119916) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2024 |
4. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 February 2023 |
and 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 February 2023 |
Revaluations | (100,000 | ) |
At 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
Fair value at 31 January 2024 is represented by: |
£ |
Valuation in 2016 | 1,125,594 |
Valuation in 2017 | 180,000 |
Valuation in 2018 | 89,060 |
Valuation in 2019 | 585,340 |
Valuation in 2020 | (513,742 | ) |
Valuation in 2021 | (290,446 | ) |
Valuation in 2022 | 100,697 |
Valuation in 2023 | (105,218 | ) |
Valuation in 2024 | (100,000 | ) |
Cost | 1,358,715 |
2,430,000 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.24 | 31.1.23 |
£ | £ |
Other debtors |
WILDINGS LIMITED (REGISTERED NUMBER: 00119916) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.24 | 31.1.23 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | RELATED PARTY DISCLOSURES |
Wildings Limited own a property in bath from which Rossiters Of Bath operates, no rent has been charged. |
There is an unlimited cross guarantee given between the company and Rossiters Limited. |
9. | PENSION COMMITMENTS |
The company operates a defined benefit pension scheme on behalf of its employees. The assets of the scheme are held separately from those of the company in an independently administered fund. As at the 31st January 2024, the company had annual commitments of £NIL (2023 £21,000) per annum. A full actuarial valuation was carried out at 1st February 2023 by a qualified independent actuary. At this date the actuarial value of the assets, as directly compared to past service liabilities, gave rise to a funding level of , 109% a valuation surplus of £145,000. |
£ |
Actuarial Value of the Assets | 1,765,000 |
Past service liabilities of members | 1,620,000 |
Surplus | 145,000 |
The with profits fund in which the policy is held is invested in a broad range of assets. |
The valuation surplus of £145,000 has not been included in the balance sheet. |
For small schemes such as this one any deviation from actuarial assumptions can lead to significant changes in both the funding position of the scheme and the contributions within fairly short periods.A contribution plan has been put in place to reduce the deficit. |