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Registration number: 11599400

Win Win Solutions In Property Ltd.

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2023

 

Win Win Solutions In Property Ltd.

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Win Win Solutions In Property Ltd.

Company Information

Director

Mark James Alexander Ezekiel

Registered office

1 Market Hill
Calne
Wiltshire
SN11 0BT

Accountants

RiverView Portfolio Limited
1 Market Hill
Calne
Wiltshire
SN11 0BT

 

Win Win Solutions In Property Ltd.

(Registration number: 11599400)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

19,918

178

Investment property

6

850,000

450,000

 

869,918

450,178

Current assets

 

Debtors

7

27,425

51,229

Cash at bank and in hand

 

619

5,741

 

28,044

56,970

Creditors: Amounts falling due within one year

8

(214,039)

(100,712)

Net current liabilities

 

(185,995)

(43,742)

Total assets less current liabilities

 

683,923

406,436

Creditors: Amounts falling due after more than one year

8

(861,909)

(530,851)

Provisions for liabilities

(20,237)

(7,087)

Net liabilities

 

(198,223)

(131,502)

Capital and reserves

 

Called up share capital

100

100

Revaluation reserve

86,272

30,213

Retained earnings

(284,595)

(161,815)

Shareholders' deficit

 

(198,223)

(131,502)

For the financial year ending 31 October 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 24 July 2024
 

 

Win Win Solutions In Property Ltd.

(Registration number: 11599400)
Balance Sheet as at 31 October 2023 (continued)

.........................................
Mark James Alexander Ezekiel
Director

 

Win Win Solutions In Property Ltd.

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Market Hill
Calne
Wiltshire
SN11 0BT

These financial statements were authorised for issue by the director on 24 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Win Win Solutions In Property Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023 (continued)

2

Accounting policies (continued)

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 0).

4

Loss before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

6,818

799

 

Win Win Solutions In Property Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023 (continued)

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 November 2022

3,194

3,194

Additions

26,558

26,558

At 31 October 2023

29,752

29,752

Depreciation

At 1 November 2022

3,016

3,016

Charge for the year

6,818

6,818

At 31 October 2023

9,834

9,834

Carrying amount

At 31 October 2023

19,918

19,918

At 31 October 2022

178

178

6

Investment properties

2023
£

At 1 November

450,000

Additions

330,792

Fair value adjustments

69,208

At 31 October

850,000

The fair value of the property at 31st October 2023 has been arrived at on the basis of a valuation carried out at that date by the director of the company, who is not a professionally qualified valuer. The valuation of £850,000 was arrived at by reference to the market evidence of transaction prices for similar properties in its location the property is situated.

There has been no valuation of investment property by an independent valuer.

7

Debtors

 

Win Win Solutions In Property Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023 (continued)

7

Debtors (continued)

Current

Note

2023
£

2022
£

Amounts owed by related parties

26,340

23,880

Prepayments

 

1,085

27,349

   

27,425

51,229

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

1,555

1,663

Amounts owed to group undertakings and undertakings in which the company has a participating interest

75,500

-

Accruals and deferred income

 

701

1,633

Other creditors

 

136,283

97,416

 

214,039

100,712

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

861,909

530,851

9

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

56,059

56,059

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

30,213

30,213

 

Win Win Solutions In Property Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023 (continued)

10

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

504,932

5,899

Other borrowings

356,977

524,952

861,909

530,851