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COMPANY REGISTRATION NUMBER: 10846038
Wignall Property Investments Limited
Filleted Unaudited Financial Statements
31 December 2023
Wignall Property Investments Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Fixed assets
Investments
4
50
Current assets
Debtors
5
1
1
Creditors: amounts falling due within one year
6
7,526
6,338
-------
-------
Net current liabilities
7,525
6,337
-------
-------
Total assets less current liabilities
( 7,525)
( 6,287)
-------
-------
Net liabilities
( 7,525)
( 6,287)
-------
-------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 7,526)
( 6,288)
-------
-------
Shareholders deficit
( 7,525)
( 6,287)
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 10 April 2024 , and are signed on behalf of the board by:
Mr G Pelly
Director
Company registration number: 10846038
Wignall Property Investments Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is C/O Leaman Mattei, Suite 1, First Floor, 1 Duchess Street, London, W1W 6AN, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Investments
Shares in participating interests
£
Cost
At 1 January 2023
50
Disposals
( 50)
----
At 31 December 2023
----
Impairment
At 1 January 2023 and 31 December 2023
----
Carrying amount
At 31 December 2023
----
At 31 December 2022
50
----
5. Debtors
2023
2022
£
£
Other debtors
1
1
----
----
6. Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
7,526
6,338
-------
-------
7. Director's advances, credits and guarantees
Included in Other creditors is a loan provided by the director of £6,288 (2022: £5,268). The loan is interest free and repayable on demand.