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REGISTERED NUMBER: 11638144 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

WILLOWFIELD PROPERTY HOLDINGS LTD

WILLOWFIELD PROPERTY HOLDINGS LTD (REGISTERED NUMBER: 11638144)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WILLOWFIELD PROPERTY HOLDINGS LTD

Company Information
for the Year Ended 31 October 2023







DIRECTORS: E J Piggott
A L Timms





REGISTERED OFFICE: 67a Willowfield Road
Eastbourne
United Kingdom
BN22 8AP





REGISTERED NUMBER: 11638144 (England and Wales)





ACCOUNTANTS: MDJ Services Limited
Unit A6
Chaucer Business Park
Dittons Road
Polegate
East Sussex
BN26 6QH

WILLOWFIELD PROPERTY HOLDINGS LTD (REGISTERED NUMBER: 11638144)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 654,602 654,602

CURRENT ASSETS
Debtors 5 5 5
Cash at bank and in hand 4,261 381
4,266 386
CREDITORS
Amounts falling due within one year 6 257,751 233,489
NET CURRENT LIABILITIES (253,485 ) (233,103 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

401,117

421,499

CREDITORS
Amounts falling due after more than one
year

7

323,154

406,444
NET ASSETS 77,963 15,055

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 8 77,961 15,053
77,963 15,055

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

WILLOWFIELD PROPERTY HOLDINGS LTD (REGISTERED NUMBER: 11638144)

Balance Sheet - continued
31 October 2023


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 30 July 2024 and were signed on its behalf by:




A L Timms - Director



E J Piggott - Director


WILLOWFIELD PROPERTY HOLDINGS LTD (REGISTERED NUMBER: 11638144)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Willowfield Property Holdings Ltd 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.

Turnover
Turnover represents rent receivable and property management fees, excluding value added tax.

Investment property
Investment properties are those properties that are held either to earn rental income or for capital appreciation or both.

Investment properties are measured initially at cost including transaction costs and thereafter are stated at fair value, which reflects market conditions at the balance sheet date. Surpluses and deficits arising from changes in the fair value of investment properties are recognised in the Statement of Comprehensive Income in the year in which they arise.

Investment properties are stated at fair value as determined by the directors. The fair value of the company's property portfolio is based upon valuations and is inherently subjective. The fair value represents the amount at which the assets could be exchanged between a knowledgeable, willing buyer and a knowledgeable, willing seller in an arms-length transaction at the date of valuation. The fair value of each of the properties has been assessed by the directors. In determining the fair value of investment properties, the directors make use of historical and current market data as well as existing lease agreements.

Additions and disposals of investment properties are recognised in the accounts when contracts are completed.

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).

WILLOWFIELD PROPERTY HOLDINGS LTD (REGISTERED NUMBER: 11638144)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022
and 31 October 2023 654,602
NET BOOK VALUE
At 31 October 2023 654,602
At 31 October 2022 654,602

Freehold investment property is valued at the end of each financial year by the directors. Independent valuations by valuers with a recognised qualification are sought where, in the opinion of the directors, there is market evidence to suggest that changes in fair value for properties of a similar type and location have occurred requiring specialist market knowledge in order to ascertain the fair value.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Other debtors 5 5

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade creditors (1 ) (1 )
Amounts owed to associates 154,947 154,242
Taxation and social security 19,883 3,531
Other creditors 82,922 75,717
257,751 233,489

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Other creditors 323,154 406,444

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal - 63,297

8. RESERVES
Retained
earnings
£   

At 1 November 2022 15,053
Profit for the year 62,908
At 31 October 2023 77,961