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Registration number: 03098346

Wellwinch Property Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Wellwinch Property Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 4

 

Wellwinch Property Limited

Company Information

Directors

J R C Boucher

E C Bourne

C C Reeve

Registered office

150 Staplehurst Road
Sittingbourne
Kent
ME10 1XS

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Wellwinch Property Limited

Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

1

1

Current assets

 

Debtors

5

1,399,000

1,399,000

Cash at bank and in hand

 

1,020

1,020

 

1,400,020

1,400,020

Creditors: Amounts falling due within one year

6

(4)

(4)

Net current assets

 

1,400,016

1,400,016

Net assets

 

1,400,017

1,400,017

Capital and reserves

 

Called up share capital

1,402,200

1,402,200

Retained earnings

(2,183)

(2,183)

Shareholders' funds

 

1,400,017

1,400,017

For the financial year ending 31 March 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

Approved and authorised by the Board on 9 September 2024 and signed on its behalf by:
 

.........................................

J R C Boucher

Director

Company registration number: 03098346

 

Wellwinch Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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:
150 Staplehurst Road
Sittingbourne
Kent
ME10 1XS

The principal activity of the company is that of an investment holding company.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

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.

Going concern

The company had net assets at 31 March 2024 amounting to £1,400,017 and has no fixed overheads and no significant working capital requirement.

Having made enquiries the directors have a reasonable expectation that the company has adequate resources to remain in operational existence for the foreseeable future. Accordingly, the directors continue to prepare the financial statements on the going concern basis.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

 

Wellwinch Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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 during the year was 0 (2023 - 0).

4

Investments

2024
£

2023
£

Investments in subsidiaries

1

1

Subsidiaries

£

Cost or valuation

At 1 April 2023 and 31 March 2024

1

Carrying amount

At 31 March 2024

1

At 31 March 2023

1

5

Debtors

2024
£

2023
£

Amounts owed by group undertakings

1,399,000

1,399,000

1,399,000

1,399,000

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Taxation and social security

4

4