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REGISTERED NUMBER: 12648816 (England and Wales)


















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: R C Wilson
Mrs L A Wilson





REGISTERED OFFICE: 23 Woburn Street
Ampthill
Bedfordshire
MK45 2HP





REGISTERED NUMBER: 12648816 (England and Wales)





ACCOUNTANTS: George Hay Partnership LLP
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 30,364 40,485
Investment property 5 679,459 679,459
709,823 719,944

CURRENT ASSETS
Debtors 6 1,039 4,686
Cash at bank 31,069 21,447
32,108 26,133
CREDITORS
Amounts falling due within one year 7 748,321 747,746
NET CURRENT LIABILITIES (716,213 ) (721,613 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(6,390

)

(1,669

)

CAPITAL AND RESERVES
Called up share capital 302 302
Retained earnings (6,692 ) (1,971 )
(6,390 ) (1,669 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 Board of Directors and authorised for issue on 8 December 2023 and were signed on its behalf by:





Mrs L A Wilson - Director


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 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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

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 48,636
DEPRECIATION
At 1 July 2022 8,151
Charge for year 10,121
At 30 June 2023 18,272
NET BOOK VALUE
At 30 June 2023 30,364
At 30 June 2022 40,485

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 - 4,557
Other debtors 1,039 129
1,039 4,686

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1,543 1,500
Other creditors 746,778 746,246
748,321 747,746

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.