REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 June 2023 |
for |
Wilmett Holdings Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 June 2023 |
for |
Wilmett Holdings Limited |
Wilmett Holdings Limited (Registered number: 12648816) |
Contents of the Financial Statements |
for the Year Ended 30 June 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Wilmett Holdings Limited |
Company Information |
for the Year Ended 30 June 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
St George's House |
George Street |
Huntingdon |
Cambridgeshire |
PE29 3GH |
Wilmett Holdings Limited (Registered number: 12648816) |
Balance Sheet |
30 June 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
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. |
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 |
Wilmett Holdings Limited (Registered number: 12648816) |
Notes to the Financial Statements |
for the Year Ended 30 June 2023 |
1. | STATUTORY INFORMATION |
Wilmett Holdings Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Revenue |
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. Revenue from the rental of investment properties is recognised evenly over the term of the lease. |
Tangible fixed assets |
Plant and machinery etc | - |
Investment property |
Investment property is carried at fair value determined annually by the Directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit and loss. |
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). |
Wilmett Holdings Limited (Registered number: 12648816) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 July 2022 |
and 30 June 2023 |
DEPRECIATION |
At 1 July 2022 |
Charge for year |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
5. | INVESTMENT PROPERTY |
The freehold, leasehold and buildings are revalued annually by the directors on an open market value basis. Every third year the properties are valued by an independent valuer where the directors consider there is a possibility that the valuation has materially changed since the last professional valuation. |
A valuation by the directors took place at the balance sheet date. |
Valuation models & techniques |
The director has considered their knowledge of the rental yields and local property market in arriving at their valuation. |
Significant assumptions |
That the valuation of the property has not materially altered since 2021. |
Effects on the profit and loss and fair value reserve |
Changes to the fair value of the properties has been made and therefore and adjustments have been reflected in the profit and loss account and the fair value of the property. |
Total |
£ |
FAIR VALUE |
At 1 July 2022 |
and 30 June 2023 | 169,423 |
NET BOOK VALUE |
At 30 June 2023 | 169,423 |
At 30 June 2022 | 169,423 |
Wilmett Holdings Limited (Registered number: 12648816) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Other creditors |
8. | GOING CONCERN |
At the balance sheet date the company had liabilities in excess of assets. The directors are aware of this position and business is being carried out with a long term aim of profitability. |
The directors are of the opinion that it is appropriate to prepare the accounts on a going concern basis as all debts are being paid as they fall due and the upturn in trade post year end. |