Silverfin false false 31/05/2024 01/06/2023 31/05/2024 R D Clifford-Wing 09/08/2021 17 December 2024 The principal activity of the company during the year was the letting of commercial property to a group company. The company started letting activity on 5 March 2024. 13554733 2024-05-31 13554733 bus:Director1 2024-05-31 13554733 2023-05-31 13554733 core:CurrentFinancialInstruments 2024-05-31 13554733 core:CurrentFinancialInstruments 2023-05-31 13554733 core:ShareCapital 2024-05-31 13554733 core:ShareCapital 2023-05-31 13554733 core:RetainedEarningsAccumulatedLosses 2024-05-31 13554733 core:RetainedEarningsAccumulatedLosses 2023-05-31 13554733 core:LandBuildings 2023-05-31 13554733 core:LandBuildings 2024-05-31 13554733 core:ImmediateParent core:CurrentFinancialInstruments 2024-05-31 13554733 core:ImmediateParent core:CurrentFinancialInstruments 2023-05-31 13554733 bus:OrdinaryShareClass1 2024-05-31 13554733 2023-06-01 2024-05-31 13554733 bus:FilletedAccounts 2023-06-01 2024-05-31 13554733 bus:SmallEntities 2023-06-01 2024-05-31 13554733 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 13554733 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 13554733 bus:Director1 2023-06-01 2024-05-31 13554733 core:LandBuildings core:TopRangeValue 2023-06-01 2024-05-31 13554733 2022-06-01 2023-05-31 13554733 core:LandBuildings 2023-06-01 2024-05-31 13554733 bus:OrdinaryShareClass1 2023-06-01 2024-05-31 13554733 bus:OrdinaryShareClass1 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 13554733 (England and Wales)

WING PROPERTIES LIMITED

Unaudited Financial Statements
For the financial year ended 31 May 2024
Pages for filing with the registrar

WING PROPERTIES LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2024

Contents

WING PROPERTIES LIMITED

BALANCE SHEET

As at 31 May 2024
WING PROPERTIES LIMITED

BALANCE SHEET (continued)

As at 31 May 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,694,333 0
1,694,333 0
Current assets
Debtors 4 28,422 1
28,422 1
Creditors: amounts falling due within one year 5 ( 1,704,211) 0
Net current (liabilities)/assets (1,675,789) 1
Total assets less current liabilities 18,544 1
Net assets 18,544 1
Capital and reserves
Called-up share capital 6 1 1
Profit and loss account 18,543 0
Total shareholder's funds 18,544 1

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

Director's responsibilities:

The financial statements of Wing Properties Limited (registered number: 13554733) were approved and authorised for issue by the Director on 17 December 2024. They were signed on its behalf by:

R D Clifford-Wing
Director
WING PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
WING PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Wing Properties Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Lowin House, Tregolls Road, Truro, TR1 2NA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Revenue from letting of property is recognised in accordance with the terms of the underlying lease.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings 50 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Land and buildings Total
£ £
Cost
At 01 June 2023 0 0
Additions 1,700,000 1,700,000
At 31 May 2024 1,700,000 1,700,000
Accumulated depreciation
At 01 June 2023 0 0
Charge for the financial year 5,667 5,667
At 31 May 2024 5,667 5,667
Net book value
At 31 May 2024 1,694,333 1,694,333
At 31 May 2023 0 0

4. Debtors

2024 2023
£ £
Amounts owed by Parent undertakings 1 1
Other debtors 28,421 0
28,422 1

5. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to Group undertakings 1,700,000 0
Taxation and social security 3,211 0
Other creditors 1,000 0
1,704,211 0

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1

7. Related party transactions

Transactions with entities in which the entity itself has a participating interest

2024 2023
£ £
Cortez Holdings Limited inter-group loan 1,700,000 0

The company owes the parent company Cortez Holdings Limited £1,700,000 on an intra group loan. The loan is interest free

During the year, the company acquired land and buildings from the group company Wing of St Mawes Limited for £1,700,000.

8. Ultimate controlling party

Parent Company:

Cortez Holdings Limited
Lowin House, Tregolls Road, Truro, TR1 2NA