Company registration number 09920257 (England and Wales)
WINSTON'S EAGLES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
WINSTON'S EAGLES LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
WINSTON'S EAGLES LTD
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
4
6,960,906
6,018,197
Current assets
Debtors
5
6,629
Cash at bank and in hand
139,379
139,587
139,379
146,216
Creditors: amounts falling due within one year
6
(146,932)
(4,500)
Net current (liabilities)/assets
(7,553)
141,716
Total assets less current liabilities
6,953,353
6,159,913
Creditors: amounts falling due after more than one year
7
(3,309,549)
(2,703,550)
Net assets
3,643,804
3,456,363
Capital and reserves
Called up share capital
8
2,024,508
2,024,508
Profit and loss reserves
9
1,619,296
1,431,855
Total equity
3,643,804
3,456,363
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 25 September 2024
Mr M Long
Director
Company registration number 09920257 (England and Wales)
WINSTON'S EAGLES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information
Winston's Eagles Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 18 Melbourne Grove, London, SE22 8RA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.3
Derivatives
Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to fair value at each reporting end date. The resulting gain or loss is recognised in profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship.
A derivative with a positive fair value is recognised as a financial asset, whereas a derivative with a negative fair value is recognised as a financial liability.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
WINSTON'S EAGLES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
4
Fixed asset investments
2023
2022
£
£
Investments
6,960,906
6,018,197
Fixed asset investments revalued
Investments are included at revalued amounts, based on the market value of the Product Investments as at 31 December 2023. The historic cost of investments at the year end was £6,522,170 (2022:£5,519,060)
Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 January 2023
6,018,197
Additions
1,003,111
Valuation changes
(60,402)
At 31 December 2023
6,960,906
Carrying amount
At 31 December 2023
6,960,906
At 31 December 2022
6,018,197
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Corporation tax recoverable
6,629
WINSTON'S EAGLES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
140,000
Accruals and deferred income
6,932
4,500
146,932
4,500
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
3,309,549
2,703,550
8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share - Class A of £1 each
1
1
1
1
Ordinary shares - Class B of £1 each
400,001
400,001
400,001
400,001
Ordinary shares - Class C of £1 each
217,001
217,001
217,001
217,001
Ordinary shares - Class D of £1 each
123,749
123,749
207,500
207,500
Ordinary shares - Class E of £1 each
400,001
400,001
400,001
400,001
Ordinary shares - Class F of £1 each
400,001
400,001
400,001
400,001
Ordinary shares - Class G of £1 each
400,001
400,001
400,001
400,001
Ordinary share - Class H of £1 each
1
1
1
1
Ordinary share - Class I of £1 each
1
1
1
1
1,940,757
1,940,757
2,024,508
2,024,508
9
Profit and loss reserves
2023
2022
£
£
At the beginning of the year
1,431,855
2,056,908
Profit/(loss) for the year
187,441
(617,053)
Dividends declared and paid in the year
-
(8,000)
At the end of the year
1,619,296
1,431,855
Included in the above reserves are non-distributable reserves of £984,969 (2022 £827,516)
10
Directors' transactions
At the beginning of the year the director was owed £2,703,549 by the company and at the end of the year was owed £3,309,549