Registered number
11711246
Wicks Property Limited
Filleted Accounts
29 November 2023
Wicks Property Limited
Registered number: 11711246
Balance Sheet
as at 29 November 2023
Notes 2023 2022
£ £
Fixed assets
Investments 3 328,169 -
Current assets
Debtors 4 138 300
Cash at bank and in hand 20,000 -
20,138 300
Creditors: amounts falling due within one year 5 (348,665) -
Net current (liabilities)/assets (328,527) 300
Net (liabilities)/assets (358) 300
Capital and reserves
Called up share capital 300 300
Profit and loss account (658) -
Shareholders' funds (358) 300
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr D Wickenden
Director
Approved by the board on 12 September 2024
Wicks Property Limited
Notes to the Accounts
for the period from 1 December 2022 to 29 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Investments
Other
investments
£
Cost
Additions 328,169
At 29 November 2023 328,169
At 29 November 2023 the valuation of the investment property was reviewed by Mr D Wickenden a director of the company. Following the review he is satisfied that the current valuation represents the fair value of the investment property.
4 Debtors 2023 2022
£ £
Other debtors 138 300
5 Creditors: amounts falling due within one year 2023 2022
£ £
Directors' loan account 19,700 -
Other creditors 328,965 -
348,665 -
6 Related party transactions
During the period the company was loaned £328,470 by Wicson Limited, a company in which Mr D Wickenden and Mr R Wickenden (dec'd) the directors of the company are both directors and shareholders. At 29 November 2023 the company owed £328,470 to Wicson Limited.
7 Controlling party
In the opinion of the directors the company has no controlling party by virtue of the shareholdings in the company.
8 Other information
Wicks Property Limited is a private company limited by shares and incorporated in England. Its registered office is:
Bury Lodge
Bury Road
Stowmarket
Suffolk
IP14 1JA
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