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REGISTERED NUMBER: 04063629 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

WILLIAM KAYLEY (PRESTON) LIMITED

WILLIAM KAYLEY (PRESTON) LIMITED (REGISTERED NUMBER: 04063629)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


WILLIAM KAYLEY (PRESTON) LIMITED (REGISTERED NUMBER: 04063629)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible fixed assets 4 2,776 1,989
Investment property 5 3,185,428 2,940,428
3,188,204 2,942,417

CURRENT ASSETS
Debtors 6 - 8,755
Cash at bank 2,491,904 154,867
2,491,904 163,622
CREDITORS
Amounts falling due within one year 7 10,216,193 7,963,340
NET CURRENT LIABILITIES (7,724,289 ) (7,799,718 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(4,536,085

)

(4,857,301

)

PROVISIONS FOR LIABILITIES 694 378
NET LIABILITIES (4,536,779 ) (4,857,679 )

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Revaluation reserve 8 (149,518 ) (394,517 )
Retained earnings 8 (4,388,261 ) (4,464,162 )
SHAREHOLDERS' FUNDS (4,536,779 ) (4,857,679 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

WILLIAM KAYLEY (PRESTON) LIMITED (REGISTERED NUMBER: 04063629)

BALANCE SHEET - continued
31 MARCH 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 July 2024 and were signed on its behalf by:





W W Kayley - Director


WILLIAM KAYLEY (PRESTON) LIMITED (REGISTERED NUMBER: 04063629)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

William Kayley (Preston) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04063629

Registered office: 5 Brooklands Place
Brooklands Road
Sale
Cheshire
M33 3SD

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.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are 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.

Turnover
Turnover represents rents receivable and related income, exclusive of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

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.

WILLIAM KAYLEY (PRESTON) LIMITED (REGISTERED NUMBER: 04063629)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised 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, which include cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

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.

Going concern
The financial statements have been prepared on a going concern basis. The directors consider that it is appropriate to prepare the financial statements on this basis as the company's major creditors are family members or companies controlled by the family who will continue to support the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

WILLIAM KAYLEY (PRESTON) LIMITED (REGISTERED NUMBER: 04063629)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2023 2,469
Additions 1,999
At 31 March 2024 4,468
DEPRECIATION
At 1 April 2023 480
Charge for year 1,212
At 31 March 2024 1,692
NET BOOK VALUE
At 31 March 2024 2,776
At 31 March 2023 1,989

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 2,940,428
Revaluations 245,000
At 31 March 2024 3,185,428
NET BOOK VALUE
At 31 March 2024 3,185,428
At 31 March 2023 2,940,428

The investment properties are valued annually on an open market basis by the directors who, though not professionally qualified, have considerable knowledge of the market in which the company operates.

The historical cost of the properties was £3,334,945 (2023: £3,334,945).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Prepayments - 8,755

WILLIAM KAYLEY (PRESTON) LIMITED (REGISTERED NUMBER: 04063629)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2 8,797
Amounts owed to group undertakings 10,011,933 7,717,484
Corporation Tax 26,734 7,455
Social security and other taxes 1,968 3,805
VAT 8,895 8,872
Directors' loan accounts 125,921 176,564
Accruals and deferred income 40,740 40,363
10,216,193 7,963,340

8. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 April 2023 (4,464,162 ) (394,517 ) (4,858,679 )
Profit for the year 326,695 326,695
Dividends (5,795 ) (5,795 )
Profit/(Loss) on revaluation (244,999 ) 244,999 -
At 31 March 2024 (4,388,261 ) (149,518 ) (4,537,779 )

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

A director, Mr W W Kayley has loaned money to the company. At the balance sheet date this amounted to £125,921 (2023: £176,870).

10. ULTIMATE CONTROLLING PARTY

The company's ultimate controlling party is Periodbond Limited.