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COMPANY REGISTRATION NUMBER: 05798263
Worlingham Property Investments Limited
Unaudited financial statements
29 February 2024
Worlingham Property Investments Limited
Statement of financial position
29 February 2024
2024
2023
Note
£
£
£
£
Fixed assets
Investments
5
719,063
719,063
Current assets
Cash at bank and in hand
25
89
Creditors: Amounts falling due within one year
6
( 30,068)
( 28,053)
-------
-------
Net current liabilities
( 30,043)
( 27,964)
---------
---------
Total assets less current liabilities
689,020
691,099
---------
---------
Net assets
689,020
691,099
---------
---------
Capital and reserves
Called up share capital
6,666
6,666
Profit and loss account
682,354
684,433
---------
---------
Shareholders funds
689,020
691,099
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 21 June 2024 , and are signed on behalf of the board by:
Mrs N Wright
Director
Company registration number: 05798263
Worlingham Property Investments Limited
Notes to the financial statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4 Akethorpe Way, Lowestoft, Suffolk, NR32 4TR, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date .
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
4. Employee numbers
The average number of employees during the year was 4 (2023: 4 ).
5. Investments
Shares in group undertakings
£
Cost
At 1 March 2023 and 29 February 2024
719,063
---------
Impairment
At 1 March 2023 and 29 February 2024
---------
Carrying amount
At 29 February 2024
719,063
---------
At 28 February 2023
719,063
---------
The company owns 100% of the issued share capital of the companies listed below.
2024
2023
£
£
Aggregate capital and reserves
The Worlingham Property Co. Limited
3,078,512
3,354,473
Profit and (loss) for the year
The Worlingham Property Co. Limited
(239,765)
(119,427)
Under the provision of section 402 of the Companies Act 2006 the company is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the company as an individual entity.
6. Creditors: Amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
28,663
24,482
Other creditors
1,405
3,571
-------
-------
30,068
28,053
-------
-------