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REGISTERED NUMBER: 09435895 (England and Wales)












ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

WAINWRIGHT PROPERTIES LIMITED

WAINWRIGHT PROPERTIES LIMITED (REGISTERED NUMBER: 09435895)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 May 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


WAINWRIGHT PROPERTIES LIMITED

COMPANY INFORMATION
for the year ended 31 May 2023







DIRECTORS: G Wainwright
Mrs S Wainwright





REGISTERED OFFICE: 178 Hinckley Road
Nuneaton
Warwickshire
CV11 6LP





REGISTERED NUMBER: 09435895 (England and Wales)






WAINWRIGHT PROPERTIES LIMITED (REGISTERED NUMBER: 09435895)

ABRIDGED BALANCE SHEET
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,179,898 1,954,898

CURRENT ASSETS
Cash at bank 10,579 9,135

CREDITORS
Amounts falling due within one year 494,017 395,128
NET CURRENT LIABILITIES (483,438 ) (385,993 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,696,460

1,568,905

CREDITORS
Amounts falling due after more than one
year

5

(595,795

)

(721,063

)

PROVISIONS FOR LIABILITIES (247,460 ) (145,320 )
NET ASSETS 853,205 702,522

CAPITAL AND RESERVES
Called up share capital 1 1
Fair value reserve 7 757,540 634,680
Retained earnings 95,664 67,841
SHAREHOLDERS' FUNDS 853,205 702,522

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

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

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.

WAINWRIGHT PROPERTIES LIMITED (REGISTERED NUMBER: 09435895)

ABRIDGED BALANCE SHEET - continued
31 May 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 May 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 8 January 2024 and were signed on its behalf by:





G Wainwright - Director


WAINWRIGHT PROPERTIES LIMITED (REGISTERED NUMBER: 09435895)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 May 2023

1. STATUTORY INFORMATION

Wainwright Properties 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The accounts have been prepared in accordance with applicable accounting standards. The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year.

Turnover
Turnover comprises the value of sales (net of value added tax) of goods and services provided in the normal course of business. Revenue is recognised in respect of rental contracts in the period to which it relates.

Investment property
Investment properties are included at valuation or, where in the opinion of the directors the open market value and original cost of the properties are not significantly different, at cost. No depreciation is provided on these properties as the estimated residual value of the properties approximates to the carrying value and any depreciation would be immaterial.

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
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.

3. EMPLOYEES AND DIRECTORS

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

WAINWRIGHT PROPERTIES LIMITED (REGISTERED NUMBER: 09435895)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022 1,954,898
Revaluations 225,000
At 31 May 2023 2,179,898
NET BOOK VALUE
At 31 May 2023 2,179,898
At 31 May 2022 1,954,898

Fair value at 31 May 2023 is represented by:
£   
Valuation in 2016 15,000
Valuation in 2017 15,000
Valuation in 2019 130,000
Valuation in 2022 620,000
Valuation in 2023 225,000
Cost 1,174,898
2,179,898

The director has revalued the Investment property and valuation is based on knowledge of similar local property values.

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2023 2022
£    £   
Repayable by instalments
Bank loans - more than 5 years 487,395 591,063

6. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 622,895 753,563

7. RESERVES
Fair
value
reserve
£   
At 1 June 2022 634,680
Revaluation of property 122,860

At 31 May 2023 757,540

WAINWRIGHT PROPERTIES LIMITED (REGISTERED NUMBER: 09435895)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2023

8. SECURED BORROWINGS

The borrowings of Wainwright Properties Ltd have been secured by way of a charge over the asset in favour of National Westminster Bank plc.

At 31 May 2023 the borrowings of Wainwright Properties Ltd amounted to £622,895 (2022 - £753,563).