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Registration number: 02075811

Wimbledon Investments Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 December 2023

 

Wimbledon Investments Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

Wimbledon Investments Limited

Company Information

Director

Mr GN Clifford

Registered office

36 St Thomas Street
Lymington
Hampshire
SO41 9NE

Accountants

Pyatt & Pyatt
Chartered Certified Accountants
36 St Thomas Street
Lymington
Hampshire
SO41 9NE

 

Wimbledon Investments Limited

(Registration number: 02075811)
Abridged Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

1,000,000

1,000,000

Current assets

 

Cash at bank and in hand

 

9,932

95,676

Creditors: Amounts falling due within one year

(12,107)

(9,758)

Net current (liabilities)/assets

 

(2,175)

85,918

Total assets less current liabilities

 

997,825

1,085,918

Provisions for liabilities

(123,100)

(123,100)

Accruals and deferred income

 

(18,220)

(18,220)

Net assets

 

856,505

944,598

Capital and reserves

 

Called up share capital

5

600

600

Revaluation reserve

753,279

753,279

Retained earnings

102,626

190,719

Shareholders' funds

 

856,505

944,598

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Wimbledon Investments Limited

(Registration number: 02075811)
Abridged Balance Sheet as at 31 December 2023

Approved and authorised by the director on 31 August 2024
 

.........................................
Mr GN Clifford
Director

 

Wimbledon Investments Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
36 St Thomas Street
Lymington
Hampshire
SO41 9NE
United Kingdom

These financial statements were authorised for issue by the director on 31 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Wimbledon Investments Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Wimbledon Investments Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Investment properties

2023
£

At 1 January

1,000,000

At 31 December

1,000,000

Investment property is stated at fair value as determined by the Directors. This was on the basis of open market value for current use. The fair value represent the amount at which the assets could be exchanged between a knowledgeable, willing buyer and a knowledgeable, willing seller in an arms-length transaction at the date of valuation, in accordance with FRS102. In determining the fair value of investment property, the directors make use of historical and current market data as well as existing lease agreements.

As a result of the level of judgement used in arriving at the market valuations, the amount which may ultimately be realised in respect of any given property may differ from the valuations shown in the statement of financial position.

On a historical cost basis these would have been included at an original cost of £152,535 ( 2019 - £152,535).

5

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary A share of £1 each

150

150

180

180

Ordinary B share of £1 each

300

300

300

300

Ordinary C share of £1 each

150

150

120

120

 

600

600

600

600

 

Wimbledon Investments Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

6

Dividends

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of £Nil (2022 - £283.019) per each Ordinary C share

 

-

 

33,962

Interim dividend of £843.5426 (2022 - £Nil) per each Ordinary A share

 

126,529

 

-

Interim dividend of £33.3333 (2022 - £Nil) per each Ordinary B share

 

10,000

 

-

   

136,529

 

33,962

7

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

9,000

18,000