REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
WINDSOR ESTATES FINANCE LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
WINDSOR ESTATES FINANCE LIMITED |
WINDSOR ESTATES FINANCE LIMITED (REGISTERED NUMBER: 01609497) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 DECEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
WINDSOR ESTATES FINANCE LIMITED |
COMPANY INFORMATION |
for the year ended 31 DECEMBER 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
1 High Street |
Thatcham |
Berks |
RG19 3JG |
WINDSOR ESTATES FINANCE LIMITED (REGISTERED NUMBER: 01609497) |
BALANCE SHEET |
31 DECEMBER 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors: amounts falling due within one year | 6 |
Debtors: amounts falling due after more than one year |
6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS/(LIABILITIES) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings | 10 | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
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. |
WINDSOR ESTATES FINANCE LIMITED (REGISTERED NUMBER: 01609497) |
BALANCE SHEET - continued |
31 DECEMBER 2023 |
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 |
WINDSOR ESTATES FINANCE LIMITED (REGISTERED NUMBER: 01609497) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
Windsor Estates Finance Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents interest on the provision of commercial trading loans and asset finance. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
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 taxation |
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). |
WINDSOR ESTATES FINANCE LIMITED (REGISTERED NUMBER: 01609497) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 DECEMBER 2023 |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 January 2023 |
and 31 December 2023 |
AMORTISATION |
At 1 January 2023 |
and 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
Intangible Fixed Assets are the capitalised costs incurred in the development of the company website. |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST OR VALUATION |
At 1 January 2023 |
Revaluations |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
Fixed asset investments contains both listed and unlisted shares. If listed investments had not been revalued to fair value they would have been included at historical cost of £100,000. The investments were valued at 31/12/2023 by BMO Nesbitt Burns Inc.The unlisted investments are held at historical cost of £176,911. |
6. | DEBTORS |
31.12.23 | 31.12.22 |
£ | £ |
Amounts falling due within one year: |
Finance deposits & interest |
Amounts owed by group undertakings |
Due from Associated Group | 373,785 | 363,075 |
Finance Agreements | 839,596 | 1,119,402 |
Deferred tax asset |
Prepayments |
WINDSOR ESTATES FINANCE LIMITED (REGISTERED NUMBER: 01609497) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 DECEMBER 2023 |
6. | DEBTORS - continued |
31.12.23 | 31.12.22 |
£ | £ |
Amounts falling due after more than one year: |
Finance Agreements | 1,736,688 | 1,445,108 |
Aggregate amounts |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Other loans |
Amounts owed to group undertakings |
VAT | 1,180 | 1,200 |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Other loans - 1-2 years |
Other loans - 2-5 years |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.23 | 31.12.22 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
10. | RESERVES |
Retained |
earnings |
£ |
At 1 January 2023 | ( |
) |
Profit for the year |
At 31 December 2023 |
The reserves above contain £47,665 unrealised losses. |
WINDSOR ESTATES FINANCE LIMITED (REGISTERED NUMBER: 01609497) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 DECEMBER 2023 |
11. | RELATED PARTY DISCLOSURES |
During the year ended 31st December 2023 the company paid administration charges in the sum of £Nil (2022 £12,946) to Wayseal Properties Limited, a fellow subsidiary within the group of companies to which this company belongs. |
During the year ended 31st December 2023 the company paid loan interest of £48,602 (2022 £48,213) to Thameside Property Company Limited, a fellow subsidiary within the group of companies to which this company belongs. |
During the year ended 31st December 2023 the company paid £55,350 (2022 £52,500) for management services and £2,124 (2022 £2,122) for motor and sundry expenses from Newlands Associates Limited, a company in which M E J Thomas has a beneficial interest. |
12. | ULTIMATE CONTROLLING PARTY |
The company is a wholly owned subsidiary of Wayseal Holdings Limited, registered in England, of which the ultimate controlling party is C M L Perring and M E J Thomas. |
Wayseal Holdings Ltd is also the immediate parent company, within the group, which will draw up consolidated financial statements. |