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COMPANY REGISTRATION NUMBER: SC196962
Willowski Properties (Bridge of Allan) Limited
Filleted Unaudited Financial Statements
31 August 2023
Willowski Properties (Bridge of Allan) Limited
Statement of Financial Position
31 August 2023
2023
2022
Note
£
£
Fixed assets
Investments
5
2,503,492
1,830,201
Current assets
Cash at bank and in hand
9,394
216,424
Creditors: amounts falling due within one year
6
( 533,526)
( 1,067,181)
------------
-------------
Net current liabilities
( 524,132)
( 850,757)
-------------
-------------
Total assets less current liabilities
1,979,360
979,444
-------------
------------
Net assets
1,979,360
979,444
-------------
------------
Willowski Properties (Bridge of Allan) Limited
Statement of Financial Position (continued)
31 August 2023
2023
2022
Note
£
£
Capital and reserves
Called up share capital
2
2
Profit and loss account
1,979,358
979,442
-------------
------------
Shareholders funds
1,979,360
979,444
-------------
------------
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 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their 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 14 February 2024 , and are signed on behalf of the board by:
Mr G Willoughby
Ms M Krzyzanowski
Director
Director
Company registration number: SC196962
Willowski Properties (Bridge of Allan) Limited
Notes to the Financial Statements
Year ended 31 August 2023
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 6 Conon Brae Close, Conon Bridge, Dingwall, Ross-shire, IV7 8BF, United Kingdom.
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.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Investments
Shares in group undertakings
Other investments other than loans
Total
£
£
£
Cost
At 1 September 2022
299,998
1,666,198
1,966,196
Additions
3,737,322
3,737,322
Disposals
( 2,878,995)
( 2,878,995)
------------
-------------
-------------
At 31 August 2023
299,998
2,524,525
2,824,523
------------
-------------
-------------
Impairment
At 1 September 2022
135,995
135,995
Revaluations
185,036
185,036
------------
-------------
-------------
At 31 August 2023
321,031
321,031
------------
-------------
-------------
Carrying amount
At 31 August 2023
299,998
2,203,494
2,503,492
------------
-------------
-------------
At 31 August 2022
299,998
1,530,203
1,830,201
------------
-------------
-------------
Under the provision of section 248 of the Companies Act 1985 the company is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the company as an individual entity.
6. Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
( 148,434)
567,205
Corporation tax
38,447
22,114
Other creditors
643,513
477,862
------------
-------------
533,526
1,067,181
------------
-------------
7. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr G Willoughby
( 238,394)
( 82,798)
( 321,192)
Ms M Krzyzanowski
( 238,394)
( 82,798)
( 321,192)
------------
------------
------------
( 476,788)
( 165,596)
( 642,384)
------------
------------
------------
2022
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr G Willoughby
( 174,235)
( 64,159)
( 238,394)
Ms M Krzyzanowski
( 174,235)
( 64,159)
( 238,394)
------------
------------
------------
( 348,470)
( 128,318)
( 476,788)
------------
------------
------------