BrightAccountsProduction v1.0.0 v1.0.0 2023-01-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is property letting and development. 31 October 2024 0 0 NI602737 2023-12-31 NI602737 2022-12-31 NI602737 2021-12-31 NI602737 2023-01-01 2023-12-31 NI602737 2022-01-01 2022-12-31 NI602737 uk-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 NI602737 uk-curr:PoundSterling 2023-01-01 2023-12-31 NI602737 uk-bus:AbridgedAccounts 2023-01-01 2023-12-31 NI602737 uk-core:ShareCapital 2023-12-31 NI602737 uk-core:ShareCapital 2022-12-31 NI602737 uk-core:RetainedEarningsAccumulatedLosses 2023-12-31 NI602737 uk-core:RetainedEarningsAccumulatedLosses 2022-12-31 NI602737 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-12-31 NI602737 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-12-31 NI602737 uk-bus:FRS102 2023-01-01 2023-12-31 NI602737 uk-core:Land 2023-01-01 2023-12-31 NI602737 2023-01-01 2023-12-31 NI602737 uk-bus:Director1 2023-01-01 2023-12-31 NI602737 uk-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
Company Registration Number: NI602737
 
 
Wilson Family Construction Limited
 
Abridged Unaudited Financial Statements
 
for the financial year ended 31 December 2023
Wilson Family Construction Limited
Company Registration Number: NI602737
ABRIDGED BALANCE SHEET
as at 31 December 2023

2023 2022
Notes £ £
 
Fixed Assets
Tangible assets 4 287,656 330,026
───────── ─────────
 
Current Assets
Debtors 203,902 155,772
Cash and cash equivalents 65,940 7,217
───────── ─────────
269,842 162,989
───────── ─────────
Creditors: amounts falling due within one year (821,337) (750,328)
───────── ─────────
Net Current Liabilities (551,495) (587,339)
───────── ─────────
Total Assets less Current Liabilities (263,839) (257,313)
 
Provisions for liabilities (6,326) (7,555)
───────── ─────────
Net Liabilities (270,165) (264,868)
═════════ ═════════
 
Capital and Reserves
Called up share capital 20 20
Retained earnings (270,185) (264,888)
───────── ─────────
Equity attributable to owners of the company (270,165) (264,868)
═════════ ═════════
 
These abridged financial statements have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Director's Report.
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Director and authorised for issue on 31 October 2024
           
           
           
________________________________          
Darren Costello          
Director          
           



Wilson Family Construction Limited
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 December 2023

   
1. General Information
 
Wilson Family Construction Limited is a company limited by shares incorporated in Northern Ireland. The registered office of the company is 7 Ean Hill, Holywood, BT18 9LQ, Northern Ireland which is also the principal place of business of the company. The principal activity of the company is property letting and development. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 December 2023 have been prepared in accordance with the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland (FRS 102) issued by the Financial Reporting Council and in accordance with the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Cash flow statement
The company has availed of the exemption in FRS 102 from the requirement to prepare a Cash Flow Statement because it is classified as a small company.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Long leasehold property - 5% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company does not operate a defined contribution pension scheme.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including director, during the financial year was 0.00|0, (2022 - 0).
       
4. Tangible assets
  Long Total
  leasehold  
  property  
  £ £
Cost
At 1 January 2023 847,395 847,395
  ───────── ─────────
 
At 31 December 2023 847,395 847,395
  ───────── ─────────
Depreciation
At 1 January 2023 517,369 517,369
Charge for the financial year 42,370 42,370
  ───────── ─────────
At 31 December 2023 559,739 559,739
  ───────── ─────────
Net book value
At 31 December 2023 287,656 287,656
  ═════════ ═════════
At 31 December 2022 330,026 330,026
  ═════════ ═════════
       
5. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 December 2023.
   
6. Controlling interest
 
The Company's parent undertaking is FT1 Limited, a company incorporated in Northern Ireland.

The directors regard FT1 Limited as the ultimate controlling party. The ultimate controlling party of FT1 Limited are Dr E. J. Capon, Mrs J. C. Costello, Mrs S. R. Donnelly and Mr S. F. T. Wilson, by virtue of their beneficial ownership in that company.
   
7. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.