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REGISTERED NUMBER: 07076289 (England and Wales)


















Willerby Property Limited

Unaudited Financial Statements for the Year Ended 31st December 2023






Willerby Property Limited (Registered number: 07076289)






Contents of the Financial Statements
for the year ended 31st December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Willerby Property Limited

Company Information
for the year ended 31st December 2023







DIRECTORS: V Fawke
N C Landau





REGISTERED OFFICE: Sontairs
12 St Barnabas Drive
Swanland
North Ferriby
HU14 3RL





REGISTERED NUMBER: 07076289 (England and Wales)





ACCOUNTANTS: Smailes Goldie
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA

Willerby Property Limited (Registered number: 07076289)

Balance Sheet
31st December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 14,542 13,906
Investment property 5 1,018,200 1,018,200
1,032,742 1,032,106

CURRENT ASSETS
Debtors 6 3,331 18,102
Cash at bank 112,170 253,826
115,501 271,928
CREDITORS
Amounts falling due within one year 7 985,219 1,115,146
NET CURRENT LIABILITIES (869,718 ) (843,218 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

163,024

188,888

PROVISIONS FOR LIABILITIES 23,615 15,231
NET ASSETS 139,409 173,657

CAPITAL AND RESERVES
Called up share capital 120 120
Revaluation reserve 8 144,749 151,782
Retained earnings (5,460 ) 21,755
139,409 173,657

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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.

Willerby Property Limited (Registered number: 07076289)

Balance Sheet - continued
31st 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 24th September 2024 and were signed on its behalf by:





N C Landau - Director


Willerby Property Limited (Registered number: 07076289)

Notes to the Financial Statements
for the year ended 31st December 2023

1. STATUTORY INFORMATION

Willerby Property 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 as modified by the revaluation of certain assets.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

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

Willerby Property Limited (Registered number: 07076289)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st January 2023 60,919
Additions 4,009
At 31st December 2023 64,928
DEPRECIATION
At 1st January 2023 47,013
Charge for year 3,373
At 31st December 2023 50,386
NET BOOK VALUE
At 31st December 2023 14,542
At 31st December 2022 13,906

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st January 2023
and 31st December 2023 1,018,200
NET BOOK VALUE
At 31st December 2023 1,018,200
At 31st December 2022 1,018,200

Fair value at 31st December 2023 is represented by:
£   
Valuation in 2015 174,054
Cost 844,146
1,018,200

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 844,146 844,146

Investment property was valued on an open market basis on 31st December 2015 by the directors .

Willerby Property Limited (Registered number: 07076289)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,896 16,477
Other debtors 1,435 1,625
3,331 18,102

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1,149 475
Taxation and social security 9,271 9,030
Other creditors 974,799 1,105,641
985,219 1,115,146

8. RESERVES
Revaluation
reserve
£   
At 1st January 2023 151,782
Deferred tax on revalued properties (7,033 )

At 31st December 2023 144,749