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REGISTERED NUMBER: 02731687 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

WIDEHEATH LIMITED

WIDEHEATH LIMITED (REGISTERED NUMBER: 02731687)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WIDEHEATH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: A M Coe





SECRETARY: D G Coe





REGISTERED OFFICE: Bryant House
Bryant Road
Strood
Rochester
Kent
ME2 3EW





REGISTERED NUMBER: 02731687 (England and Wales)





ACCOUNTANTS: Friend & Grant Ltd
Bryant House
Bryant Road
Strood
Rochester
Kent
ME2 3EW

WIDEHEATH LIMITED (REGISTERED NUMBER: 02731687)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 5 1,163,913 692,745

CURRENT ASSETS
Debtors 6 34,348 10,842
Cash at bank 54,723 99,966
89,071 110,808
CREDITORS
Amounts falling due within one year 7 15,209 15,718
NET CURRENT ASSETS 73,862 95,090
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,237,775

787,835

PROVISIONS FOR LIABILITIES (92,391 ) (2,869 )

ACCRUALS AND DEFERRED INCOME (7,362 ) (7,121 )
NET ASSETS 1,138,022 777,845

CAPITAL AND RESERVES
Called up share capital 15,002 15,002
Share premium 288,913 288,913
Fair value reserve 688,719 307,073
Retained earnings 145,388 166,857
SHAREHOLDERS' FUNDS 1,138,022 777,845

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

WIDEHEATH LIMITED (REGISTERED NUMBER: 02731687)

BALANCE SHEET - continued
31 DECEMBER 2023


The 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 April 2024 and were signed by:





A M Coe - Director


WIDEHEATH LIMITED (REGISTERED NUMBER: 02731687)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Wideheath Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland, including the presentation and disclosure requirements of Section 1A applicable to small companies, and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going concern
No material uncertainties that may cast doubt about the ability of the company to continue as a going concern have been identified by the director.

Turnover
Turnover is measured as the fair value of the consideration received or receivable from the exchange of services, excluding discounts, rebates, value added tax and other sales taxes.

Rendering of services

The percentage of completion method is used to calculate the turnover recognised at the period end.

Turnover from the rendering of services is recognised when all of the following conditions are satisfied:

- the amount of turnover can be measured reliably;
- it is probable that the economic benefits associated with the transaction will flow to the entity;
- the stage of completion of the transaction at the end of the reporting period can be measured reliably; and
- the costs incurred for the transaction and the costs to complete the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tangible fixed assets other than investment property are stated at cost less depreciation.

WIDEHEATH LIMITED (REGISTERED NUMBER: 02731687)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


3. ACCOUNTING POLICIES - continued

Investment property
Investment property is included at fair value. Valuations are carried out annually by the directors based on:
- how the market could be expected to price the asset
- measuring the risk return factors inherent in the asset

Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided in respect of investment properties.

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 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.

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.

Hire purchase and leasing commitments
Assets held under finance lease and hire purchase contracts are capitalised in the balance sheet and depreciated over their expected useful lives. The interest element of the leasing payments represents a constant proportion of the capital balance outstanding and is charged to the profit and loss account over the period of the lease.

All other leases are regarded as operating leases and the payments made under them are charged to the profit and loss account on a straight line basis over the lease term.

Employee benefits
The company recognises a provision for annual leave accrued by employees as a result of services rendered in current period, and which employees are entitled to carry forward and use within the next 12 months. The provision is measured at the salary cost payable for the period of absence.

WIDEHEATH LIMITED (REGISTERED NUMBER: 02731687)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 2 ) .

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 692,745
Revaluations 471,168
At 31 December 2023 1,163,913
NET BOOK VALUE
At 31 December 2023 1,163,913
At 31 December 2022 692,745

The investment properties at 51A, 51B and 51C Upper Wickham Road are valued in the accounts as £1,100,000. This figure has been based on the sales price in February 2024 when the properties were sold.The director believes that this valuation is accurate. The remaining property has been valued using the sales price in February 2024 of €73,500 and this valuation has been reflected in the accounts at a sterling value of £63,913, using the HMRC approved monthly exchange rate for December 2023.The historic cost of the properties are £382,804.

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2023 1,163,913

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,583 -
Other debtors 32,765 10,842
34,348 10,842

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 4,855 5,364
Other creditors 10,354 10,354
15,209 15,718

WIDEHEATH LIMITED (REGISTERED NUMBER: 02731687)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
A M Coe
Balance outstanding at start of year 10,222 (23,074 )
Amounts advanced 54,814 45,387
Amounts repaid (32,548 ) (12,091 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 32,488 10,222

The loan from the company to the director is unsecured and repayable on demand. Interest has been charged at the official rate per HMRC.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A M Coe.