WRSD Properties Limited NI645022 false 2022-05-01 2023-04-30 2023-04-30 The principal activity of the company is rental of investment property Digita Accounts Production Advanced 6.30.9574.0 true true NI645022 2022-05-01 2023-04-30 NI645022 2023-04-30 NI645022 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 NI645022 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 NI645022 bus:SmallEntities 2022-05-01 2023-04-30 NI645022 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 NI645022 bus:FullAccounts 2022-05-01 2023-04-30 NI645022 bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-30 NI645022 bus:RegisteredOffice 2022-05-01 2023-04-30 NI645022 bus:Director1 2022-05-01 2023-04-30 NI645022 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 NI645022 countries:NorthernIreland 2022-05-01 2023-04-30 NI645022 2022-04-30 NI645022 2021-05-01 2022-04-30 NI645022 2022-04-30 NI645022 core:CurrentFinancialInstruments core:WithinOneYear 2022-04-30 NI645022 core:Non-currentFinancialInstruments core:AfterOneYear 2022-04-30 iso4217:GBP xbrli:pure

Registration number: NI645022

WRSD Properties Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2023

 

WRSD Properties Limited

(Registration number: NI645022)
Balance Sheet as at 30 April 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

123,464

123,464

Current assets

 

Cash at bank and in hand

 

63,596

51,350

Creditors: Amounts falling due within one year

5

(21,162)

(20,022)

Net current assets

 

42,434

31,328

Total assets less current liabilities

 

165,898

154,792

Creditors: Amounts falling due after more than one year

5

(123,902)

(123,775)

Net assets

 

41,996

31,017

Capital and reserves

 

Called up share capital

100

100

Retained earnings

41,896

30,917

Shareholders' funds

 

41,996

31,017

For the financial year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

WRSD Properties Limited

(Registration number: NI645022)
Balance Sheet as at 30 April 2023

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 January 2024 and signed on its behalf by:
 

.........................................
William Richard Moore
Director

 

WRSD Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: 11 Main Street, Cloughmills, Co Antrim, BT44 9LF.

These financial statements were authorised for issue by the Board on 18 January 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

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

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

 

WRSD Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Investment properties

2023
£

At 1 May

123,464

At 30 April

123,464

The directors consider that the market value of the investment property approximates to the cost.

 

WRSD Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Other creditors

21,162

20,022

Due after one year

Directors' loan account

123,902

123,775