Registered number: 00295152 | ||||||||
FOR THE YEAR ENDED 31 MARCH 2024 | ||||||||
Prepared By: | ||||||||
Lever Bros & Co | ||||||||
Chartered Accountants | ||||||||
First Floor, 690 Great West Road | ||||||||
Osterley Village | ||||||||
Isleworth | ||||||||
TW7 4PU |
Wychwood Properties Limited | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31 MARCH 2024 | ||||||||
DIRECTORS | ||||||||
SECRETARY | ||||||||
REGISTERED OFFICE | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 00295152 | ||||||||
ACCOUNTANTS | ||||||||
Lever Bros & Co | ||||||||
Chartered Accountants | ||||||||
First Floor, 690 Great West Road | ||||||||
Osterley Village | ||||||||
Isleworth | ||||||||
TW7 4PU |
Wychwood Properties Limited | ||||||||
ACCOUNTS | ||||||||
FOR THEYEARENDED31 MARCH 2024 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
Wychwood Properties Limited | ||||||||
BALANCE SHEET AT | ||||||||||
2024 | 2023 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 3 | |||||||||
CURRENT ASSETS | ||||||||||
Debtors | 5 | |||||||||
Current Asset Investments | 6 | |||||||||
Cash at bank and in hand | ||||||||||
27,101 | 62,270 | |||||||||
CREDITORS: Amounts falling due within one year | 7 | |||||||||
NET CURRENT (LIABILITIES) / ASSETS | ( | 35,964 | ||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
CREDITORS: Amounts falling due after more than one year | 8 | 8,922 | 11,600 | |||||||
PROVISIONS FOR LIABILITIES AND CHARGES | 9 | |||||||||
NET ASSETS | ||||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 10 | |||||||||
Other reserves | 11 | 100,000 | 100,000 | |||||||
Profit and loss account | 2,149,394 | 2,220,301 | ||||||||
SHAREHOLDERS' FUNDS | ||||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
Director | ||||||||||
Wychwood Properties Limited | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31 MARCH 2024 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Going Concern | ||||||||
The financial statements have been prepared on a going concern basis. The Management has evaluated whether there are conditions and events that prevent the entity from meeting its obligations within one year after the date the financial statements are issued and concluded that there are no going concern financial reporting implications. |
1c. Depreciation | ||||||||
Equipment | reducing balance 33.33% |
1d. Investment Properties | ||||||||
Investment properties are included in the financial statements at fair value. Gains and losses on remeasurement of fair value are recognised in the Statement of comprehensive income, within Other operating income. |
1e. Taxation | ||||||||
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. |
1f. Pension Costs | ||||||||
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year. |
Wychwood Properties Limited | ||||||||
1g. Turnover | ||||||||
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of rent receivable, excluding discounts, rebates, value added tax and other sales taxes. |
1h. Statutory Information | ||||||||
Wychwood Properties Limited is a private company, limited by shares, incorporated in England and Wales. The company's registered number is 00295152 and registered office address South Bank Legal, 138-140 Southwark Street, London, England, SE1 0SW. |
1i. Financial Instruments | ||||||||
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments. |
1j. Interest Income | ||||||||
Interest income is recognised in profit or loss using the effective interest method. |
1k. Finance Costs | ||||||||
Finance costs are charged to profit or loss over the term of the debt using the effective interest |
1l. Borrowing Costs | ||||||||
All borrowing costs are recognised in profit or loss in the year in which they are incurred. |
1m. Current Asset Investments | ||||||||
Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period. |
2. EMPLOYEES | ||||||
2024 | 2023 | |||||
No. | No. | |||||
Average number of employees | 2 | |||||
Wychwood Properties Limited | ||||||||
3. TANGIBLE FIXED ASSETS | ||||
Equipment | Total | |||
£ | £ | |||
Cost | ||||
At 1 April 2023 | 8,366 | 8,366 | ||
Additions | 899 | 899 | ||
At 31 March 2024 | 9,265 | 9,265 | ||
Depreciation | ||||
At 1 April 2023 | 5,764 | 5,764 | ||
For the year | 1,214 | 1,214 | ||
At 31 March 2024 | 6,978 | 6,978 | ||
Net Book Amounts | ||||
At 31 March 2024 | 2,287 | |||
At 31 March 2023 | 2,602 | |||
4. INVESTMENT PROPERTIES | ||||||||
Investment | ||||||||
Properties | Total | |||||||
£ | £ | |||||||
Fair value | ||||||||
At 1 April 2023 | 2,925,000 | 2,925,000 | ||||||
Revaluation | (35,000) | (35,000) | ||||||
At 31 March 2024 | 2,890,000 | 2,890,000 | ||||||
The investment properties are stated at fair value at the balance sheet date. | ||||||||
5. DEBTORS | 2024 | 2023 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | 1,807 | 382 | ||||||
Other debtors | 1,972 | 1,972 | ||||||
Prepayments | 504 | 8,842 | ||||||
4,283 | 11,196 | |||||||
Wychwood Properties Limited | ||||||||
6. CURRENT ASSET INVESTMENTS | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
Listed investments | 9,178 | 42,871 | ||||||
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
Taxation and social security | 968 | 739 | ||||||
Bank Loan | 3,678 | 5,400 | ||||||
Trade creditors | 18,870 | 9,171 | ||||||
Other creditors | 546 | 1,693 | ||||||
Accruals | 5,570 | 9,303 | ||||||
29,632 | 26,306 | |||||||
8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
Bank loans (unsecured) >1yr | 8,922 | 11,600 | ||||||
8,922 | 11,600 | |||||||
The bank loan is unsecured and incurs interest at 2% per annum. | ||||||||
9. PROVISIONS FOR LIABILITIES | 2024 | 2023 | ||||||
£ | £ | |||||||
Deferred taxation | 624,771 | 624,996 | ||||||
624,771 | 624,996 | |||||||
Wychwood Properties Limited | ||||||||
10. SHARE CAPITAL | 2024 | 2023 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
6,669 | 6,669 | |||||||
6,669 | 6,669 | |||||||
11. OTHER RESERVES | 2024 | 2023 | ||||
£ | £ | |||||
Other reserves | 100,000 | 100,000 | ||||
100,000 | 100,000 | |||||
12. PROFT AND LOSS RESERVE ACCOUNT | ||||||||
Profit and loss reserve account includes gains less related deferred tax on the remeasurement of fair value of the investment property of £2,185,128, (Last year £2,219,903). This amount is non-distributable. | ||||||||