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WINCHCOMBE HOLDINGS LIMITED

Registered Number
11000810
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2023

WINCHCOMBE HOLDINGS LIMITED
Company Information
for the year from 1 November 2022 to 31 October 2023

Directors

Mr HWT Kay
Mr SJF Kay

Registered Address

Portland Place
12 Portland Street
Lincoln
LN5 7JX

Registered Number

11000810 (England and Wales)
WINCHCOMBE HOLDINGS LIMITED
Balance Sheet as at
31 October 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Investment property31,278,4771,278,477
1,278,4771,278,477
Current assets
Debtors43,42512,562
Cash at bank and on hand1,45512,447
4,88025,009
Creditors amounts falling due within one year5(564,831)(574,159)
Net current assets (liabilities)(559,951)(549,150)
Total assets less current liabilities718,526729,327
Creditors amounts falling due after one year6(537,203)(581,061)
Net assets181,323148,266
Capital and reserves
Called up share capital11
Profit and loss account181,322148,265
Shareholders' funds181,323148,266
The financial statements were approved and authorised for issue by the Board of Directors on 31 July 2024, and are signed on its behalf by:
Mr SJF Kay
Director
Registered Company No. 11000810
WINCHCOMBE HOLDINGS LIMITED
Notes to the Financial Statements
for the year ended 31 October 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Borrowing costs
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20232022
Average number of employees during the year11
3.Investment property
There has been no valuation of investment property by an independent valuer.

£
Fair value at 01 November 221,278,477
At 31 October 231,278,477
4.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables-8,912
Other debtors875875
Prepayments and accrued income2,5502,775
Total3,42512,562
5.Creditors: amounts due within one year

2023

2022

££
Bank borrowings and overdrafts37,00030,300
Taxation and social security10,98511,484
Other creditors510,483529,233
Accrued liabilities and deferred income6,3633,142
Total564,831574,159
6.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts537,203581,061
Total537,203581,061
Bank borrowings Bank loan is denominated in £ with a nominal interest rate of 7.67%, and the final instalment is due on 1 April 2035. The carrying amount at year end is £375,689 (2022 - £394,524). The bank loan is secured by fixed and floating charges over the assets of the company. Bounce Back Loan is denominated in £ with a nominal interest rate of 2.5%, and the final instalment is due on 5 October 2026. The carrying amount at year end is £11,932 (2022 - £16,000). Mortgage is denominated in £ with a nominal interest rate of 7.47%, and the final instalment is due on 1 October 2046. The carrying amount at year end is £186,582 (2022 - £200,837). The mortgage is secured by fixed and floating charges over the assets of the company.