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Registration number: 11517871

Wayne James Properties Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Wayne James Properties Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Wayne James Properties Ltd

Company Information

Directors

Mr J A Southern

Mr W E Dugdale

Company secretary

Mrs P L Holland

Registered office

Halls House Farm
Chain Lane
Staining
Blackpool
Lancashire
FY3 0DP

Accountants

Red Dot Accountants Ltd
15 Olympic Court
Whitehills Business Park
Blackpool
Lancashire
FY4 5GU

 

Wayne James Properties Ltd

(Registration number: 11517871)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

372,379

375,270

Investment property

4

704,500

694,000

 

1,076,879

1,069,270

Current assets

 

Debtors

5

3,786

904

Cash at bank and in hand

 

965

4,599

 

4,751

5,503

Creditors: Amounts falling due within one year

6

(512,512)

(508,669)

Net current liabilities

 

(507,761)

(503,166)

Total assets less current liabilities

 

569,118

566,104

Creditors: Amounts falling due after more than one year

6

(514,062)

(514,062)

Provisions for liabilities

(8,629)

(8,057)

Net assets

 

46,427

43,985

Capital and reserves

 

Called up share capital

7

2

2

Revaluation reserve

173,714

159,485

Retained earnings

(127,289)

(115,502)

Shareholders' funds

 

46,427

43,985

For the financial year ending 31 January 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 24 October 2024 and signed on its behalf by:
 

 

Wayne James Properties Ltd

(Registration number: 11517871)
Balance Sheet as at 31 January 2024

.........................................
Mr J A Southern
Director

.........................................
Mr W E Dugdale
Director

 

Wayne James Properties Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Halls House Farm
Chain Lane
Staining
Blackpool
Lancashire
FY3 0DP

These financial statements were authorised for issue by the Board on 24 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis, assuming the continuing financial support of the Directors.

Revenue recognition

Turnover comprises the fair value of the income received or receivable for the rent of the properties in the ordinary course of the company’s activities.

The company recognises revenue when: The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Wayne James Properties Ltd

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

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the Directors. The Directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Trade debtors

Trade debtors are amounts due from tenants for rental income due in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Investment properties

2024
£

At 1 February

694,000

Fair value adjustments

10,500

At 31 January

704,500

The properties have been valued by the Directors.

5

Debtors

Current

2024
£

2023
£

Prepayments

924

904

Other debtors

2,862

-

 

3,786

904

 

Wayne James Properties Ltd

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

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

25,651

25,651

Taxation and social security

160

202

Accruals and deferred income

3,615

3,615

Other creditors

483,086

479,201

512,512

508,669

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

514,062

514,062

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

       

8

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

14,229

14,229

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

43,727

43,727

 

Wayne James Properties Ltd

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

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

514,062

514,062