Company registration number: 01454225
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UNAUDITED FINANCIAL STATEMENTS
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FOR THE YEAR ENDED
31 MARCH 2024
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WILKY PROPERTY HOLDINGS LIMITED
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WILKY PROPERTY HOLDINGS LIMITED
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COMPANY INFORMATION
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Charles Russell Speechlys LLP
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WILKY PROPERTY HOLDINGS LIMITED
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CONTENTS
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Statement of Financial Position
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Statement of Changes in Equity
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Notes to the Financial Statements
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WILKY PROPERTY HOLDINGS LIMITED
REGISTERED NUMBER:01454225
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STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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WILKY PROPERTY HOLDINGS LIMITED
REGISTERED NUMBER:01454225
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STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024
The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
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Malcolm Young
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Julian Munday
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The notes on pages 4 to 8 form part of these financial statements.
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WILKY PROPERTY HOLDINGS LIMITED
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STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
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Deficit on revaluation of freehold property
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The notes on pages 4 to 8 form part of these financial statements.
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WILKY PROPERTY HOLDINGS LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Wilky Property Holdings Limited is a private company limited by shares and incorporated and registered in England and Wales. The principal place of business is Fetcham Park, Lower Road, Fetcham, Leatherhead, KT22 9HD. The registered office is Parallel House, 32 London Road, Guildford, Surrey England, GU1 2AB.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:
Turnover represents amounts receivable for rent exclusive of Value Added Tax.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current 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 income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
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WILKY PROPERTY HOLDINGS LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
2.Accounting policies (continued)
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Tangible fixed assets (continued)
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Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
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Between 5% and 25% straight line
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The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Investment properties are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.
Investment properties are valued by the directors with reference to the values of similar properties in the local area.
Investments in subsidiaries are measured at cost less accumulated impairment.
Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
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Stocks and work in progress
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Work in progress is valued at the lower of cost and net realisable value. Net realisable value is based on the estimated selling price less costs to completion and disposal. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
The Company has no employees other than the Directors, who did not receive remuneration (2023 - £NIL).
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WILKY PROPERTY HOLDINGS LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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Charge for the year on owned assets
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Investments in subsidiary companies
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WILKY PROPERTY HOLDINGS LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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Property under construction
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The fair value of London Road as at 31 March 2024 has been arrived at on the basis of a valuation carried out by an external third party on 14 June 2024, on an open market basis.
The fair value of the other investment properties has been arrived at on the basis of a valuation carried out by the Directors at 31 March 2024. The valuations were undertaken on an open market basis and were arrived at by reference to market evidence of transaction prices for similar properties. No depreciation is provided in respect of these properties.
On a historical cost basis the investment properties would have been £8,781,489 (2023 - £8,748,367).
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Prepayments and accrued income
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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WILKY PROPERTY HOLDINGS LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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Creditors: Amounts falling due after more than one year
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The bank loan is secured over properties owned by the company, namely 32 and 34 London Road Guildford.
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Commitments under operating leases
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At 31 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
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Later than 1 year and not later than 5 years
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Operating lease commitments - Lessor
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At 31 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
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The immediate and ultimate parent company is the Wilky Group Limited, a company registered in England. The registered office address of the Wilky Group Limited is: Parallel House, 32 London Road, Guildford, Surrey, GU1 2AB.
The smallest and largest group in which the results of the company are consolidated is that headed by The Wilky Group Limited. Copies can be obtained from Companies House.
The Wilky Group Limited prepares consolidated financial statements and copies can be obtained from Companies House.
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