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REGISTERED NUMBER: 01341903 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

WEMYSS SERVICES LIMITED

WEMYSS SERVICES LIMITED (REGISTERED NUMBER: 01341903)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WEMYSS SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr S Burt
Mr E W Burt





REGISTERED OFFICE: Hinkley House
Ashford Road
Badlesmere Lees
Faversham
Kent
ME13 0NX





REGISTERED NUMBER: 01341903 (England and Wales)





ACCOUNTANTS: Stephen Hill Partnership Limited
139-141 Watling Street
Gillingham
Kent
ME7 2YY

WEMYSS SERVICES LIMITED (REGISTERED NUMBER: 01341903)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investments 5 65,551 65,551
Investment property 6 1,440,000 1,440,000
1,505,551 1,505,551

CURRENT ASSETS
Debtors 7 111 664
Cash at bank 113,112 148,296
113,223 148,960
CREDITORS
Amounts falling due within one year 8 20,509 23,795
NET CURRENT ASSETS 92,714 125,165
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,598,265

1,630,716

CREDITORS
Amounts falling due after more than one
year

9

-

(23,943

)

PROVISIONS FOR LIABILITIES (85,860 ) (85,860 )
NET ASSETS 1,512,405 1,520,913

CAPITAL AND RESERVES
Called up share capital 60 62
Capital redemption reserve 41 39
Fair value reserve 10 807,924 807,924
Retained earnings 704,380 712,888
1,512,405 1,520,913

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

WEMYSS SERVICES LIMITED (REGISTERED NUMBER: 01341903)

BALANCE SHEET - continued
31 MARCH 2024


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 24 June 2024 and were signed on its behalf by:





Mr S Burt - Director


WEMYSS SERVICES LIMITED (REGISTERED NUMBER: 01341903)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Wemyss Services 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on cost

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The assets' residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying value amount and are recognised in the income statement.

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
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

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 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.

WEMYSS SERVICES LIMITED (REGISTERED NUMBER: 01341903)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions.

Creditors
Short term creditors are measured at the transaction price.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 April 2023
and 31 March 2024 1,410
DEPRECIATION
At 1 April 2023
and 31 March 2024 1,410
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 April 2023
and 31 March 2024 65,551
NET BOOK VALUE
At 31 March 2024 65,551
At 31 March 2023 65,551

Cost or valuation at 31 March 2024 is represented by:

Other
investments
£   
Valuation in 2023 7,261
Cost 58,290
65,551

WEMYSS SERVICES LIMITED (REGISTERED NUMBER: 01341903)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 1,440,000
NET BOOK VALUE
At 31 March 2024 1,440,000
At 31 March 2023 1,440,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2012 759,294
Valuation in 2022 17,500
Cost 663,206
1,440,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 111 -
Other debtors - 664
111 664

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 11,680
Trade creditors - 5,850
Taxation and social security 4,434 39
Other creditors 16,075 6,226
20,509 23,795

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 23,943

10. RESERVES
Fair
value
reserve
£   
At 1 April 2023
and 31 March 2024 807,924