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REGISTERED NUMBER: 13088370 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

WILLIS PROPERTIES (KENT) LIMITED

WILLIS PROPERTIES (KENT) LIMITED (REGISTERED NUMBER: 13088370)






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


WILLIS PROPERTIES (KENT) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: J A Ferrett





REGISTERED OFFICE: 12 Conqueror Court
Sittingbourne
Kent
ME10 5BH





REGISTERED NUMBER: 13088370 (England and Wales)





ACCOUNTANTS: Xeinadin South East Limited
12 Conqueror Court
Sittingbourne
Kent
ME10 5BH

WILLIS PROPERTIES (KENT) LIMITED (REGISTERED NUMBER: 13088370)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 445,000 487,622

CURRENT ASSETS
Debtors 5 149 -
Cash at bank 4,725 6,372
4,874 6,372
CREDITORS
Amounts falling due within one year 6 252,924 258,344
NET CURRENT LIABILITIES (248,050 ) (251,972 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

196,950

235,650

CREDITORS
Amounts falling due after more than one
year

7

(166,078

)

(170,868

)

PROVISIONS FOR LIABILITIES (2,253 ) (12,908 )
NET ASSETS 28,619 51,874

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings - non distributable 6,758 38,724
Retained earnings 21,860 13,149
28,619 51,874

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

WILLIS PROPERTIES (KENT) LIMITED (REGISTERED NUMBER: 13088370)

BALANCE SHEET - continued
31 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 director and authorised for issue on 13 September 2024 and were signed by:





J A Ferrett - Director


WILLIS PROPERTIES (KENT) LIMITED (REGISTERED NUMBER: 13088370)

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

1. STATUTORY INFORMATION

Willis Properties (Kent) Limited 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or from the rendering of services.

Turnover from the rendering of property investment services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Investment property
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.

Financial instruments
Financial assets - trade and other debtors are basic financial instruments and debt instruments measured at fair value through the Income Statement and are measured subsequently at amortised cost. Prepayments are not financial instruments.

Cash comprises cash at bank, in hand and short term deposits with an original maturity date of three months or less. Cash at bank is measured at face value.

Financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Finance costs are charged to the Income Statement over the term of the debt using the effective interest rate method so that the amount charged is at a constant rate on the carrying amount. Borrowing costs are not capitalised.

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.


WILLIS PROPERTIES (KENT) LIMITED (REGISTERED NUMBER: 13088370)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 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.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 487,622
Revaluations (42,622 )
At 31 December 2023 445,000
NET BOOK VALUE
At 31 December 2023 445,000
At 31 December 2022 487,622

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2021 61,632
Valuation in 2022 (10,000 )
Valuation in 2023 (42,622 )
Cost 435,990
445,000

If the investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 409,898 161,410

The investment property was valued on an open market basis on 31 December 2023 by the director .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 149 -

WILLIS PROPERTIES (KENT) LIMITED (REGISTERED NUMBER: 13088370)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 4,791 4,627
Taxation and social security 2,043 1,355
Other creditors 246,090 252,362
252,924 258,344

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 166,078 170,868

Amounts falling due in more than five years:

Repayable by instalments
Bank loans due over more than 5 yrs by
instalments

145,166

150,668

8. SECURED DEBTS

The Mortgage Works (UK) PLC hold a fixed and floating charge, dated 08 August 2022, over 109 Charlotte Street, Sittingbourne, Kent, ME10 2JX.