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REGISTERED NUMBER: 01163263 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

WISTOW DEVELOPMENTS LIMITED

WISTOW DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01163263)

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


WISTOW DEVELOPMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: R Wistow
C Wistow





REGISTERED OFFICE: 55 Loudoun Road
London
NW8 0DL





REGISTERED NUMBER: 01163263 (England and Wales)





ACCOUNTANTS: MGR SD Limited
55 Loudoun Road
London
NW8 0DL

WISTOW DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01163263)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,320,454 520,000
Investments 5 100 -
1,320,554 520,000

CURRENT ASSETS
Stocks 1,744,183 1,485,306
Debtors 6 721,224 27,204
Cash at bank 234,961 16,832
2,700,368 1,529,342
CREDITORS
Amounts falling due within one year 7 (3,058,171 ) (954,646 )
NET CURRENT (LIABILITIES)/ASSETS (357,803 ) 574,696
TOTAL ASSETS LESS CURRENT LIABILITIES 962,751 1,094,696

CREDITORS
Amounts falling due after more than one
year

8

(884,830

)

(898,129

)
NET ASSETS 77,921 196,567

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 77,821 196,467
SHAREHOLDERS' FUNDS 77,921 196,567

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 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.

WISTOW DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01163263)

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 Board of Directors and authorised for issue on 18 September 2024 and were signed on its behalf by:




R Wistow - Director



C Wistow - Director


WISTOW DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01163263)

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


1. STATUTORY INFORMATION

Wistow Developments 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.

Preparation of consolidated financial statements
The financial statements contain information about Wistow Developments Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks represents freehold land and construction works for development and resale which is valued at the lower of cost and net realisable value.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

WISTOW DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01163263)

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


4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1 January 2023 520,000
Additions 800,454
At 31 December 2023 1,320,454
NET BOOK VALUE
At 31 December 2023 1,320,454
At 31 December 2022 520,000

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 100
At 31 December 2023 100
NET BOOK VALUE
At 31 December 2023 100

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 5,000 26,800
Amounts owed by group undertakings 710,000 -
Other debtors 6,224 404
721,224 27,204

The director's loan account will be repaid by 1 October 2024.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts (see note 9) 70,630 70,630
Trade creditors 101 890
Amounts owed to group undertakings 2,981,710 100,000
Other creditors 5,730 783,126
3,058,171 954,646

WISTOW DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01163263)

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


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans (see note 9) 884,830 898,129

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 602,310 615,609

9. LOANS

An analysis of the maturity of loans is given below:

31.12.23 31.12.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 70,630 70,630

Amounts falling due between one and two years:
Bank loans - 1-2 years 70,630 70,630

Amounts falling due between two and five years:
Bank loans - 2-5 years 211,890 211,890

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 602,310 615,609

10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 955,460 968,759

The bank loan is secured by a fixed charge over the freehold property held by the company.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £1 100 100

WISTOW DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01163263)

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


12. RELATED PARTY DISCLOSURES

Wistow Residential Developments Ltd

A group undertaking.


31.12.23 31.12.22
£    £   
Amount due to related party at the balance sheet date 2,981,710 -

The balance due is in advance of the financing of the sale of the property which was finalised in the following year.

Stowson Ltd

A company in which R Wistow & C Wistow are directors.


During the year. Wistow Developments Ltd made a loan of £710,000 to Stowson Ltd.

31.12.23 31.12.22
£    £   
Amount due from/(to) related party at the balance sheet date 710,000 (100,000 )