Wolfram Properties Limited 06604393 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is the rental of office properties Digita Accounts Production Advanced 6.30.9574.0 true true 06604393 2023-01-01 2023-12-31 06604393 2023-12-31 06604393 core:RetainedEarningsAccumulatedLosses 2023-12-31 06604393 core:ShareCapital 2023-12-31 06604393 core:CurrentFinancialInstruments 2023-12-31 06604393 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 06604393 core:Non-currentFinancialInstruments 2023-12-31 06604393 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 06604393 core:LandBuildings 2023-12-31 06604393 bus:SmallEntities 2023-01-01 2023-12-31 06604393 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 06604393 bus:FullAccounts 2023-01-01 2023-12-31 06604393 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 06604393 bus:RegisteredOffice 2023-01-01 2023-12-31 06604393 bus:Director1 2023-01-01 2023-12-31 06604393 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06604393 countries:EnglandWales 2023-01-01 2023-12-31 06604393 2022-12-31 06604393 core:LandBuildings 2022-12-31 06604393 2022-01-01 2022-12-31 06604393 2022-12-31 06604393 core:RetainedEarningsAccumulatedLosses 2022-12-31 06604393 core:ShareCapital 2022-12-31 06604393 core:CurrentFinancialInstruments 2022-12-31 06604393 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 06604393 core:Non-currentFinancialInstruments 2022-12-31 06604393 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 06604393 core:LandBuildings 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 06604393

Wolfram Properties Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Wolfram Properties Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 6

 

Wolfram Properties Limited

Company Information

Director

Mr Conrad Paul Wolfram

Registered office

The Wolfram Centre
Lower Road
Long Hanborough
Oxfordshire
OX29 8FP

Accountants

ReesRussell LLP
Chartered Accountants
37 Market Square
Witney
Oxfordshire
OX28 6RE

 

Wolfram Properties Limited

(Registration number: 06604393)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

2,043,360

2,043,360

Current assets

 

Debtors

5

1,178

2,027

Cash at bank and in hand

 

4,828

6,427

 

6,006

8,454

Creditors: Amounts falling due within one year

6

(153,896)

(137,341)

Net current liabilities

 

(147,890)

(128,887)

Total assets less current liabilities

 

1,895,470

1,914,473

Creditors: Amounts falling due after more than one year

6

(863,255)

(981,433)

Net assets

 

1,032,215

933,040

Capital and reserves

 

Called up share capital

1

1

Retained earnings

1,032,214

933,039

Shareholders' funds

 

1,032,215

933,040

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.

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.

Approved and authorised by the director on 3 April 2024
 

.........................................
Mr Conrad Paul Wolfram
Director

 

Wolfram Properties Limited

Notes to the 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 and Wales.

The address of its registered office is:
The Wolfram Centre
Lower Road
Long Hanborough
Oxfordshire
OX29 8FP

These financial statements were authorised for issue by the director on 3 April 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 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 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.

 

Wolfram Properties Limited

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

Going concern

As at 31 December 2022 the company has negative net current liabilities of £128,887 (2021: £130,595). The company rental income is received from a company with common control. Under the loan agreement with Wolfram Research Europe Ltd., loan draw-down will more than cover the net current liabilities but Wolfram Properties Ltd. is minimising interest by not drawing down more than immediately required.

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.

Investment property

Investment property is stated at historical cost.The Director considers this to be a fair value of the property due to the fact it was only built in 2012 and is a bespoke design. The value is reviewed periodically by the Director to ensure it remains appropriate.

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 debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Wolfram Properties Limited

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

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3

Staff numbers

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

4

Tangible assets

Investment property
£

Total
£

Cost or valuation

At 1 January 2023

2,043,360

2,043,360

At 31 December 2023

2,043,360

2,043,360

Carrying amount

At 31 December 2023

2,043,360

2,043,360

At 31 December 2022

2,043,360

2,043,360

 

Wolfram Properties Limited

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

5

Debtors

2023
£

2022
£

Prepayments

1,177

2,026

Other debtors

1

1

1,178

2,027

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

29

734

Amounts owed to group undertakings and undertakings in which the company has a participating interest

108,000

98,257

Taxation and social security

 

30,655

23,138

Accruals and deferred income

 

15,212

15,212

 

153,896

137,341

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

863,255

981,433

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Amounts owed to related undertakings

863,255

981,433