IRIS Accounts Production v24.2.0.383 03184903 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh031849032022-12-31031849032023-12-31031849032023-01-012023-12-31031849032021-12-31031849032022-01-012022-12-31031849032022-12-3103184903ns15:EnglandWales2023-01-012023-12-3103184903ns14:PoundSterling2023-01-012023-12-3103184903ns10:Director12023-01-012023-12-3103184903ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3103184903ns10:SmallEntities2023-01-012023-12-3103184903ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3103184903ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3103184903ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3103184903ns10:FullAccounts2023-01-012023-12-3103184903ns10:Director22023-01-012023-12-3103184903ns10:CompanySecretary12023-01-012023-12-3103184903ns10:RegisteredOffice2023-01-012023-12-3103184903ns5:CurrentFinancialInstruments2023-12-3103184903ns5:CurrentFinancialInstruments2022-12-3103184903ns5:Non-currentFinancialInstruments2023-12-3103184903ns5:Non-currentFinancialInstruments2022-12-3103184903ns5:ShareCapital2023-12-3103184903ns5:ShareCapital2022-12-3103184903ns5:RetainedEarningsAccumulatedLosses2023-12-3103184903ns5:RetainedEarningsAccumulatedLosses2022-12-3103184903ns5:FurnitureFittings2023-01-012023-12-3103184903ns5:ComputerEquipment2023-01-012023-12-3103184903ns5:LandBuildings2022-12-3103184903ns5:LongLeaseholdAssetsns5:LandBuildings2022-12-3103184903ns5:FurnitureFittings2022-12-3103184903ns5:ComputerEquipment2022-12-3103184903ns5:LandBuildings2023-01-012023-12-3103184903ns5:LongLeaseholdAssetsns5:LandBuildings2023-01-012023-12-3103184903ns5:LandBuildings2023-12-3103184903ns5:LongLeaseholdAssetsns5:LandBuildings2023-12-3103184903ns5:FurnitureFittings2023-12-3103184903ns5:ComputerEquipment2023-12-3103184903ns5:LandBuildings2022-12-3103184903ns5:LongLeaseholdAssetsns5:LandBuildings2022-12-3103184903ns5:FurnitureFittings2022-12-3103184903ns5:ComputerEquipment2022-12-3103184903ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3103184903ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3103184903ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-12-3103184903ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2022-12-3103184903ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-12-3103184903ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-12-3103184903ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-12-3103184903ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2022-12-3103184903ns5:Secured2023-12-3103184903ns5:Secured2022-12-3103184903ns5:DeferredTaxation2022-12-3103184903ns5:DeferredTaxation2023-01-012023-12-3103184903ns5:DeferredTaxation2023-12-31
REGISTERED NUMBER: 03184903 (England and Wales)






















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

WICKLESHAM COMMERCIAL PROPERTIES LTD

WICKLESHAM COMMERCIAL PROPERTIES LTD (REGISTERED NUMBER: 03184903)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WICKLESHAM COMMERCIAL PROPERTIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: Ms S Allen-Stevens
Mr T Allen-Stevens





SECRETARY: Ms S Allen-Stevens





REGISTERED OFFICE: Wicklesham Lodge
Faringdon
Oxfordshire
SN7 7PN





REGISTERED NUMBER: 03184903 (England and Wales)





ACCOUNTANTS: George Hay & Company
Chartered Accountants
83 Cambridge Street
London
SW1V 4PS

WICKLESHAM COMMERCIAL PROPERTIES LTD (REGISTERED NUMBER: 03184903)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,206,134 2,201,999

CURRENT ASSETS
Debtors 5 12,396 22,637
Cash at bank 144,590 159,930
156,986 182,567
CREDITORS
Amounts falling due within one year 6 105,253 100,440
NET CURRENT ASSETS 51,733 82,127
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,257,867

2,284,126

CREDITORS
Amounts falling due after more than one
year

7

(1,015,342

)

(1,075,647

)

PROVISIONS FOR LIABILITIES 9 (124,128 ) (124,611 )
NET ASSETS 1,118,397 1,083,868

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 1,117,397 1,082,868
SHAREHOLDERS' FUNDS 1,118,397 1,083,868

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

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

WICKLESHAM COMMERCIAL PROPERTIES LTD (REGISTERED NUMBER: 03184903)

BALANCE SHEET - continued
31ST DECEMBER 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 22nd August 2024 and were signed on its behalf by:





Ms S Allen-Stevens - Director


WICKLESHAM COMMERCIAL PROPERTIES LTD (REGISTERED NUMBER: 03184903)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023

1. STATUTORY INFORMATION

Wicklesham Commercial Properties 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 as modified by the revaluation of certain assets.

The financial statements have been prepared on a Going Concern basis. The company continues to be dependent upon the ongoing support of the directors, its shareholders and its bankers for it to continue trading. The directors and shareholders have provided the necessary assurances of continued support whilst the bank borrowings are secured on the freehold premises and are payable by instalments.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% straight line
Computer equipment - 25% straight line

No depreciation is provided on freehold properties. It is the company's practice to maintain these assets in a continual state of sound repair and to make improvements thereto from time to time. Accordingly the directors consider that the lives of these assets are so long and residual value so high that the depreciation is insignificant. The properties were revalued in May 2021 and the valuation has been incorporated into the financial statements.

Financial instruments
The Company only enters into basic financial statements 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 and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.


WICKLESHAM COMMERCIAL PROPERTIES LTD (REGISTERED NUMBER: 03184903)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Cost - Fixtures
Freehold improv to and Computer
property property fittings equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1st January 2023 642,985 1,557,015 227,245 43,815 2,471,060
Additions - 6,095 - - 6,095
At 31st December 2023 642,985 1,563,110 227,245 43,815 2,477,155
DEPRECIATION
At 1st January 2023 - - 225,497 43,564 269,061
Charge for year - - 1,748 212 1,960
At 31st December 2023 - - 227,245 43,776 271,021
NET BOOK VALUE
At 31st December 2023 642,985 1,563,110 - 39 2,206,134
At 31st December 2022 642,985 1,557,015 1,748 251 2,201,999

Cost or valuation at 31st December 2023 is represented by:

Cost - Fixtures
Freehold improv to and Computer
property property fittings equipment Totals
£    £    £    £    £   
Valuation in 2004 386,725 - - - 386,725
Valuation in 2006 148,688 - - - 148,688
Valuation in 2011 (322,178 ) - - - (322,178 )
Valuation in 2015 110,131 - - - 110,131
Valuation in 2021 174,619 - - - 174,619
Cost 145,000 1,563,110 227,245 43,815 1,979,170
642,985 1,563,110 227,245 43,815 2,477,155

WICKLESHAM COMMERCIAL PROPERTIES LTD (REGISTERED NUMBER: 03184903)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

4. TANGIBLE FIXED ASSETS - continued

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 1,708,110 1,702,015

Freehold land and buildings were valued on an open market basis on 31st May 2021 by Savills, Chartered Surveyors.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 6,454 14,776
Accrued income 2,233 4,118
Prepayments 3,709 3,743
12,396 22,637

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 83,933 73,451
Trade creditors - 2,224
Tax 8,368 9,840
Social security and other taxes 690 666
VAT 2,741 2,988
Other creditors 4,597 4,408
Accrued expenses 4,924 6,863
105,253 100,440

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 83,333 73,451
Bank loans - 2-5 years 249,999 220,353
Bank loans over 5 years 274,095 354,428
Other loans more 5yrs non-inst 174,500 229,000
Directors' loan accounts 233,415 198,415
1,015,342 1,075,647

WICKLESHAM COMMERCIAL PROPERTIES LTD (REGISTERED NUMBER: 03184903)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 174,500 229,000
Directors' loan accounts 233,415 198,415
407,915 427,415

Repayable by instalments
Bank loans over 5 years 274,095 354,428

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 691,360 721,683

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 124,128 124,611

Deferred
tax
£   
Balance at 1st January 2023 124,611
Provided during year (483 )
Balance at 31st December 2023 124,128

10. RELATED PARTY DISCLOSURES

At 31 December 2023 the company owed £174,500 (2022: £129,000) to two shareholders of the company. These loans are not secured on company assets In addition a close family member held a loan account balance with the company in the sum of £Nil (2022: £100,000). This loan is not secured on company assets and no interest was paid during the year.