REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
W.G. WIGGINTON PROPERTIES LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
W.G. WIGGINTON PROPERTIES LIMITED |
W.G. WIGGINTON PROPERTIES LIMITED (REGISTERED NUMBER: 04199748) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
W.G. WIGGINTON PROPERTIES LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditor |
3 Doolittle Yard |
Froghall Road |
Ampthill |
Bedfordshire |
MK45 2NW |
W.G. WIGGINTON PROPERTIES LIMITED (REGISTERED NUMBER: 04199748) |
BALANCE SHEET |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
W.G. WIGGINTON PROPERTIES LIMITED (REGISTERED NUMBER: 04199748) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
W.G. Wigginton Properties Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
The parent company that has prepared consolidated accounts is W G Wigginton Group Limited. Its registered office is at Wigginton House, 1-4 Rockware Avenue, Greenford, Middlesex, UB6 0AA. |
Critical accounting judgements and key sources of estimation uncertainty |
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
The directors do not consider there to be any critical accounting judgements. |
Key sources of estimation uncertainty |
The market value of investment properties are determined annually based on information provided by independent professional valuers and publicly available market rate movements. There is an inevitable degree of judgement involved in that each property is unique and value can only ultimately be reliably tested in the market itself. |
Turnover |
Turnover represents net invoiced rent charges, excluding value added tax. |
Tangible fixed assets |
Fixtures and fittings | - |
Investment property |
Investment property is included at fair value. Gains are recognised in the income statement. |
W.G. WIGGINTON PROPERTIES LIMITED (REGISTERED NUMBER: 04199748) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. |
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in the income statement. |
Operating leases |
Rentals payable under operating leases are charged to the income statement on a straight line basis over the period of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1 April 2023 |
and 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
W.G. WIGGINTON PROPERTIES LIMITED (REGISTERED NUMBER: 04199748) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
5. | INVESTMENT PROPERTY - continued |
The directors valued the investment property at 31 March 2024 based on their knowledge and understanding of the property market. They do not have any recognised professional qualifications in this field. |
Fair value at 31 March 2024 is represented by: |
£ |
Valuation in 2024 | 2,261,961 |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
VAT |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Corporation tax |
VAT | 38 | - |
Other creditors |
Accrued expenses |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
W.G. WIGGINTON PROPERTIES LIMITED (REGISTERED NUMBER: 04199748) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
10. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |
11. | OPERATING LEASE INCOME |
Minimum lease income due to the company is as follows: |
2024 | 2023 |
£ | £ |
Within one year | 6,600 | 37,985 |
Between one and five years | - | 4,140 |
In more than five years | - | - |
6,600 | 42,125 |