Registered number
12490321
Witheld Ltd
Filleted Accounts
29 February 2024
Applied Accountancy Ltd
Witheld Ltd
Registered number: 12490321
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 450,000 450,000
450,000 450,000
Current assets
Debtors 4 308 322
Cash at bank and in hand 26,600 18,902
26,908 19,224
Creditors: amounts falling due within one year 5 (289,778) (288,230)
Net current liabilities (262,870) (269,006)
Total assets less current liabilities 187,130 180,994
Creditors: amounts falling due after more than one year 6 (171,410) (171,410)
Provisions for liabilities (3,567) (3,567)
Net assets 12,153 6,017
Capital and reserves
Called up share capital 2 2
Profit and loss account 12,151 6,015
Shareholders' funds 12,153 6,017
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Zayd Mahfooth
Director
Approved by the board on 11 November 2024
Witheld Ltd
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Investment Properties Total
£ £
Cost
At 1 March 2023 450,000 450,000
At 29 February 2024 450,000 450,000
Depreciation
At 29 February 2024 - -
Net book value
At 29 February 2024 450,000 450,000
At 28 February 2023 450,000 450,000
Investment Properties: 2024 2023
£ £
Historical cost 431,224 431,224
Cumulative depreciation based on historical cost - -
431,224 431,224
The investment properties were revalued by the directors as at 28th February 2023
4 Debtors 2024 2023
£ £
Other debtors 308 322
308 322
5 Creditors: amounts falling due within one year 2024 2023
£ £
Directors' Loan Accounts 287,266 286,145
Taxation and social security costs 1,252 -
Other creditors 1,260 2,085
289,778 288,230
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 171,410 171,410
171,410 171,410
7 Loans 2024 2023
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 171,410 171,410
171,410 171,410
Secured bank loans 171,410 171,410
The bank loan is secured by a charge created on 2nd October 2020 on one of the investment properties included at £270,000 as at 28th February 2024.
8 Fair value reserve 2024 2023
£ £
At 1 March 2023 15,209 19,183
Loss on revaluation of land and buildings - (1,224)
Deferred taxation arising on the revaluation of land and buildings - (2,750)
At 29 February 2024 15,209 15,209
9 Other information
Witheld Ltd is a private company limited by shares and incorporated in England. Its registered office is:
111 Sheen Lane
East Sheen
London
SW14 8AE
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