Wman Property Co Ltd 12275991 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is property investment and development. Digita Accounts Production Advanced 6.30.9574.0 true true 12275991 2023-04-01 2024-03-31 12275991 2024-03-31 12275991 bus:OrdinaryShareClass1 2024-03-31 12275991 core:CurrentFinancialInstruments 2024-03-31 12275991 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 12275991 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 12275991 bus:SmallEntities 2023-04-01 2024-03-31 12275991 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 12275991 bus:FilletedAccounts 2023-04-01 2024-03-31 12275991 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 12275991 bus:RegisteredOffice 2023-04-01 2024-03-31 12275991 bus:Director1 2023-04-01 2024-03-31 12275991 bus:Director2 2023-04-01 2024-03-31 12275991 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 12275991 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12275991 countries:AllCountries 2023-04-01 2024-03-31 12275991 2023-03-31 12275991 2022-04-01 2023-03-31 12275991 2023-03-31 12275991 bus:OrdinaryShareClass1 2023-03-31 12275991 core:CurrentFinancialInstruments 2023-03-31 12275991 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 12275991 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12275991

Wman Property Co Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Wman Property Co Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Wman Property Co Ltd

Company Information

Directors

A Wenman

E Wenman

Registered office

78 Friendly Street
Deptford
London
SE8 4DR

Accountants

Courtlands
62 Copsem Lane
Oxshott
Surrey
KT22 0NT

 

Wman Property Co Ltd

(Registration number: 12275991)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

2,755,169

2,262,273

Current assets

 

Debtors

5

70,517

93,028

Cash at bank and in hand

 

91,947

37,293

 

162,464

130,321

Creditors: Amounts falling due within one year

6

(198,527)

(221,921)

Net current liabilities

 

(36,063)

(91,600)

Total assets less current liabilities

 

2,719,106

2,170,673

Creditors: Amounts falling due after more than one year

6

(2,835,400)

(2,335,400)

Net liabilities

 

(116,294)

(164,727)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(116,394)

(164,827)

Shareholders' deficit

 

(116,294)

(164,727)

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 2 December 2024 and signed on its behalf by:
 

.........................................
A Wenman
Director

 

Wman Property Co Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
78 Friendly Street
Deptford
London
SE8 4DR

These financial statements were authorised for issue by the Board on 2 December 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for rents and services supplied in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Wman Property Co Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Trade debtors

Trade debtors are amounts due from customers in respect of rents due and services provided in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Investment properties

2024
£

At 1 April

2,262,273

Additions

492,896

At 31 March

2,755,169

There has been no valuation of investment property by an independent valuer.

 

Wman Property Co Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Debtors

Current

2024
£

2023
£

Trade debtors

25,425

28,508

Other debtors

45,092

64,520

 

70,517

93,028

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

-

18,673

Trade creditors

 

72,764

94,810

Accruals and deferred income

 

67,581

43,066

Other creditors

 

58,182

65,372

 

198,527

221,921

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

2,835,400

2,335,400

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100