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Company Registration No. 11198303 (England and Wales)
Wisewealth Properties Holding Ltd Unaudited accounts for the year ended 29 February 2024
Wisewealth Properties Holding Ltd Unaudited accounts Contents
Page
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Wisewealth Properties Holding Ltd Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investment property
177,000 
164,000 
Current assets
Debtors
196 
196 
Cash at bank and in hand
3,158 
6,243 
3,354 
6,439 
Creditors: amounts falling due within one year
(750)
(750)
Net current assets
2,604 
5,689 
Total assets less current liabilities
179,604 
169,689 
Creditors: amounts falling due after more than one year
(120,575)
(123,575)
Net assets
59,029 
46,114 
Capital and reserves
Called up share capital
2 
2 
Revaluation reserve
13,177 
10,707 
Profit and loss account
45,850 
35,405 
Shareholders' funds
59,029 
46,114 
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 November 2024 and were signed on its behalf by
Ajibola Oladiran Director Company Registration No. 11198303
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Wisewealth Properties Holding Ltd Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
Wisewealth Properties Holding Ltd is a private company, limited by shares, registered in England and Wales, registration number 11198303. The registered office is 7, Bell Yard, London, WC2A 2JR.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Investment property
2024 
£ 
Fair value at 1 March 2023
164,000 
Net gain from fair value adjustments
13,000 
At 29 February 2024
177,000 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due after more than one year
Other debtors
196 
196 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Accruals
750 
750 
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Wisewealth Properties Holding Ltd Notes to the Accounts for the year ended 29 February 2024
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
99,000 
99,000 
Loans from directors
21,575 
24,575 
120,575 
123,575 
8
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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