Company registration number 04245070 (England and Wales)
K G WILCE LIMITED
Unaudited Financial Statements
for the Year Ended 31 January 2024
K G WILCE LIMITED
CONTENTS
Page
Company Information
1
Balance sheet
2
Notes to the financial statements
3 - 5
K G WILCE LIMITED
Company Information
- 1 -
Director
Mrs C Wilce
Secretary
Mrs C Wilce
Company number
04245070
Registered office
St Davids House
48 Free Street
Brecon
Powys
UK
LD3 7BN
Accountants
Mitchell Associates Ltd
The Business Park
Triangle Business Centre
Merthyr Tydfil
CF48 4TQ
K G WILCE LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
310,842
366,969
Current assets
Cash at bank and in hand
15,934
6,807
Creditors: amounts falling due within one year
4
(3,345)
(3,268)
Net current assets
12,589
3,539
Net assets
323,431
370,508
Capital and reserves
Called up share capital
2
2
Revaluation reserve
5
164,555
170,681
Profit and loss reserves
158,874
199,825
Total equity
323,431
370,508

For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 25 October 2024
Mrs C Wilce
Director
Company registration number 04245070 (England and Wales)
K G WILCE LIMITED
Notes to the Financial Statements
For the Year Ended 31 January 2024
- 3 -
1
Accounting policies
Company information

K G Wilce Limited is a private company limited by shares incorporated in England and Wales. The registered office is St Davids House, 48 Free Street, Brecon, Powys, UK, LD3 7BN.

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 the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price.

K G WILCE LIMITED
Notes to the Financial Statements
For the Year Ended 31 January 2024
1
Accounting policies
- 4 -
Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are recognised at transaction price.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised at transaction price.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
3
Fixed asset investments
2024
2023
£
£
Other investments other than loans
310,842
366,969
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 February 2023
366,969
Valuation changes
(6,127)
Disposals
(50,000)
At 31 January 2024
310,842
Carrying amount
At 31 January 2024
310,842
At 31 January 2023
366,969
4
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
3,345
3,268
K G WILCE LIMITED
Notes to the Financial Statements
For the Year Ended 31 January 2024
- 5 -
5
Revaluation reserve
2024
2023
£
£
At the beginning of the year
170,681
165,075
Other movements
(6,126)
5,606
At the end of the year
164,555
170,681
2024-01-312023-02-01false25 October 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityMrs C WilceMrs C Wilcefalsefalse042450702023-02-012024-01-3104245070bus:CompanySecretaryDirector12023-02-012024-01-3104245070bus:CompanySecretary12023-02-012024-01-3104245070bus:Director12023-02-012024-01-3104245070bus:RegisteredOffice2023-02-012024-01-31042450702024-01-31042450702023-01-3104245070core:CurrentFinancialInstrumentscore:WithinOneYear2024-01-3104245070core:CurrentFinancialInstrumentscore:WithinOneYear2023-01-3104245070core:ShareCapital2024-01-3104245070core:ShareCapital2023-01-3104245070core:RevaluationReserve2024-01-3104245070core:RevaluationReserve2023-01-3104245070core:RetainedEarningsAccumulatedLosses2024-01-3104245070core:RetainedEarningsAccumulatedLosses2023-01-3104245070core:RevaluationReserve2023-01-3104245070core:RevaluationReserve2022-01-31042450702022-02-012023-01-3104245070core:CurrentFinancialInstruments2024-01-3104245070core:CurrentFinancialInstruments2023-01-3104245070bus:PrivateLimitedCompanyLtd2023-02-012024-01-3104245070bus:SmallCompaniesRegimeForAccounts2023-02-012024-01-3104245070bus:FRS1022023-02-012024-01-3104245070bus:AuditExemptWithAccountantsReport2023-02-012024-01-3104245070bus:FullAccounts2023-02-012024-01-31xbrli:purexbrli:sharesiso4217:GBP