Willow Court Freehold (Wallington) Company Limited 08667848 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is ownership of the freehold property known as Willow Court. Digita Accounts Production Advanced 6.30.9574.0 true 08667848 2023-04-01 2024-03-31 08667848 2024-03-31 08667848 core:CurrentFinancialInstruments 2024-03-31 08667848 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 08667848 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 08667848 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 08667848 bus:SmallEntities 2023-04-01 2024-03-31 08667848 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 08667848 bus:FilletedAccounts 2023-04-01 2024-03-31 08667848 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08667848 bus:RegisteredOffice 2023-04-01 2024-03-31 08667848 bus:Director2 2023-04-01 2024-03-31 08667848 bus:Director4 2023-04-01 2024-03-31 08667848 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08667848 bus:Agent1 2023-04-01 2024-03-31 08667848 core:LandBuildings 2023-04-01 2024-03-31 08667848 countries:EnglandWales 2023-04-01 2024-03-31 08667848 2023-03-31 08667848 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 08667848 2022-04-01 2023-03-31 08667848 2023-03-31 08667848 core:CurrentFinancialInstruments 2023-03-31 08667848 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 08667848 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 08667848 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 08667848

Willow Court Freehold (Wallington) Company Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Willow Court Freehold (Wallington) Company Limited

Contents

Company Information

1

Accountants' Report

2

Statement of Financial Position

3

Notes to the Unaudited Financial Statements

4 to 8

 

Willow Court Freehold (Wallington) Company Limited

Company Information

Directors

Miss P Tarson

Miss A Long

Registered office

D S House
306 High Street
Croydon
Surrey
CR0 1NG

Accountants

DSK Partners LLP
Chartered Accountants
D S House
306 High Street
Croydon
Surrey
CR0 1NG

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Willow Court Freehold (Wallington) Company Limited
for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Willow Court Freehold (Wallington) Company Limited for the year ended 31 March 2024 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Willow Court Freehold (Wallington) Company Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Willow Court Freehold (Wallington) Company Limited and state those matters that we have agreed to state to the Board of Directors of Willow Court Freehold (Wallington) Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Willow Court Freehold (Wallington) Company Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Willow Court Freehold (Wallington) Company Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Willow Court Freehold (Wallington) Company Limited. You consider that Willow Court Freehold (Wallington) Company Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Willow Court Freehold (Wallington) Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

DSK Partners LLP
Chartered Accountants
D S House
306 High Street
Croydon
Surrey
CR0 1NG

23 November 2024

 

Willow Court Freehold (Wallington) Company Limited

(Registration number: 08667848)
Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

162,991

162,991

Current assets

 

Debtors

5

677

1,624

Cash at bank and in hand

 

27,807

24,786

 

28,484

26,410

Creditors: Amounts falling due within one year

6

(10,596)

(8,903)

Net current assets

 

17,888

17,507

Total assets less current liabilities

 

180,879

180,498

Creditors: Amounts falling due after more than one year

6

(147,056)

(147,056)

Net assets

 

33,823

33,442

Capital and reserves

 

Called up share capital

32

32

Retained earnings

33,791

33,410

Shareholders' funds

 

33,823

33,442

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.

Approved and authorised by the Board on 23 November 2024 and signed on its behalf by:
 

.........................................
Miss P Tarson
Director

   
     
 

Willow Court Freehold (Wallington) Company Limited

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 and Wales.

The address of its registered office is:
D S House
306 High Street
Croydon
Surrey
CR0 1NG
England

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.

The presentation currency of the financial statements is Pound Sterling (£) rounded to the nearest Pound.

Revenue recognition

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

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Willow Court Freehold (Wallington) Company Limited

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

2

Accounting policies (continued)

Tangible fixed assets

In accordance with the standards, the freehold of the estate is shown at original cost to the company, less that part of the cost attributable to leases which have been extended.

As and when lease extensions are granted, the equivalent proportion of the cost is deducted and is shown as a disposal.

Given that the residual value to the company of an extended lease is nominal, once all of the leases have been extended, the cost in the Statement of Financial Position will be reduced to £1.

No depreciation is provided on the company's freehold property as it is not considered to be a wasting asset.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

Nil

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed 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.

 

Willow Court Freehold (Wallington) Company Limited

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

2

Accounting policies (continued)

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 income statement 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.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities, or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

 

Willow Court Freehold (Wallington) Company Limited

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

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 April 2023

162,991

162,991

At 31 March 2024

162,991

162,991

Depreciation

Carrying amount

At 31 March 2024

162,991

162,991

At 31 March 2023

162,991

162,991

Included within the net book value of land and buildings above is £162,991 (2023 - £162,991) in respect of freehold land and buildings.
 

5

Debtors

2024
£

2023
£

Trade debtors

677

1,564

Other debtors

-

60

677

1,624

 

Willow Court Freehold (Wallington) Company Limited

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

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

26

-

Taxation and social security

89

-

Accruals and deferred income

3,600

3,600

Other creditors

6,881

5,303

10,596

8,903

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

147,056

147,056

Shareholders' loans are unsecured and were contributed to provide sufficient funds for the purchase of the freehold as not all leaseholders participated. They are repayable at the discretion of the Board, subject to sufficient funds being available.