Company registration number: 01540245
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UNAUDITED FINANCIAL STATEMENTS
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FOR THE YEAR ENDED
31 MARCH 2024
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WILKY INVESTMENTS LIMITED
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WILKY INVESTMENTS LIMITED
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COMPANY INFORMATION
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Charles Russell Speechlys LLP
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WILKY INVESTMENTS 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 INVESTMENTS LIMITED
REGISTERED NUMBER:01540245
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STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024
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Stocks and work in progress
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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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Net current (liabilities)/assets
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Total assets less current liabilities
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WILKY INVESTMENTS LIMITED
REGISTERED NUMBER:01540245
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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 6 form part of these financial statements.
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WILKY INVESTMENTS LIMITED
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STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
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Revaluation of investment property
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The notes on pages 4 to 6 form part of these financial statements.
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WILKY INVESTMENTS LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Wilky Investments Limited is a private company limited by shares and incorporated and registered in England and Wales. The address of the registered office, which is also the principal place of business, is disclosed on the company information page.
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:
Revenue represents amounts receivable for rent exclusive of Value Added Tax.
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Current and deferred taxation
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The tax expense for the year comprises current and deferred 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 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 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.
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.
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WILKY INVESTMENTS 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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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 and work in progress 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.
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
The company has no employees other than the directors who did not receive any remuneration.
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On a historical cost basis the investment properties would have been included at a value of £244,079 (2023 - £86,759).
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The 2024 valuations were made by the directors, on an open market value for existing use basis.
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WILKY INVESTMENTS LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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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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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, Guilford, 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.
The Wilky Group Limited prepares consolidated financial statements and copies can be obtained from Companies House.
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