Worten Shire Limited 06850756 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of property investment. Digita Accounts Production Advanced 6.30.9574.0 true true 06850756 2023-04-01 2024-03-31 06850756 2024-03-31 06850756 core:CurrentFinancialInstruments 2024-03-31 06850756 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 06850756 core:FurnitureFittingsToolsEquipment 2024-03-31 06850756 bus:SmallEntities 2023-04-01 2024-03-31 06850756 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 06850756 bus:FilletedAccounts 2023-04-01 2024-03-31 06850756 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 06850756 bus:RegisteredOffice 2023-04-01 2024-03-31 06850756 bus:Director4 2023-04-01 2024-03-31 06850756 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06850756 core:FurnitureFittings 2023-04-01 2024-03-31 06850756 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 06850756 countries:EnglandWales 2023-04-01 2024-03-31 06850756 2023-03-31 06850756 core:FurnitureFittingsToolsEquipment 2023-03-31 06850756 2022-04-01 2023-03-31 06850756 2023-03-31 06850756 core:CurrentFinancialInstruments 2023-03-31 06850756 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 06850756 core:FurnitureFittingsToolsEquipment 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 06850756

Worten Shire Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Worten Shire Limited

Contents

Company Information

1

Statement of Financial Position

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Worten Shire Limited

Company Information

Director

J B Braet

Registered office

130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Worten Shire Limited

Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

4,410

2,608

Investment property

5

1,750,000

1,750,000

 

1,754,410

1,752,608

Current assets

 

Debtors

6

7,717

1,566

Cash at bank and in hand

 

8,111

14,029

 

15,828

15,595

Creditors: Amounts falling due within one year

7

(121,301)

(108,695)

Net current liabilities

 

(105,473)

(93,100)

Total assets less current liabilities

 

1,648,937

1,659,508

Provisions for liabilities

(97,404)

(97,404)

Net assets

 

1,551,533

1,562,104

Capital and reserves

 

Called up share capital

1,413,256

1,413,256

Retained earnings

138,277

148,848

Shareholders' funds

 

1,551,533

1,562,104

 

Worten Shire Limited

Statement of Financial Position as at 31 March 2024

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

Director's 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 director acknowledges his 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 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

Approved and authorised by the director on 19 November 2024
 

.........................................

J B Braet

Director

Company registration number: 06850756

 

Worten Shire Limited

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

1

General information

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

The address of its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of property investment.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

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.

Going concern

The company had net assets at 31 March 2024 amounting to £1,551,533.

The directors have considered the potential effect of the cost of living crisis in the UK and the effect of overseas conflicts on the global economy and their view is that there will be no significant effect.

Having made sufficient enquiries, and based upon the above, the directors have a reasonable expectation that the company has adequate resources to continue operating in the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, rebates and discounts.

The company recognises rental income evenly over the period of the leases or licences to occupy.

 

Worten Shire Limited

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

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

10% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers 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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company during the year, was 0 (2023 - 0).

 

Worten Shire Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

74,620

74,620

Additions

2,640

2,640

Disposals

(279)

(279)

At 31 March 2024

76,981

76,981

Depreciation

At 1 April 2023

72,012

72,012

Charge for the year

761

761

Eliminated on disposal

(202)

(202)

At 31 March 2024

72,571

72,571

Carrying amount

At 31 March 2024

4,410

4,410

At 31 March 2023

2,608

2,608

5

Investment properties

2024
£

At 1 April 2023

1,750,000

At 31 March 2024

1,750,000


The investment property has been included in the financial statements at fair value as estimated by the directors at 31 March 2024 at an amount of £1,750,000.

6

Debtors

2024
£

2023
£

Other debtors

7,717

1,566

7,717

1,566

 

Worten Shire Limited

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

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Trade creditors

7,901

1,195

Accruals and deferred income

113,400

107,500

121,301

108,695

8

Reserves

Of the amount standing to the credit of the profit and loss account, £292,211 (2023: £292,211) is not distributable in accordance with the Companies Act 2006.