REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 March 2024 |
for |
Willoughby 395 (EBK) Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 March 2024 |
for |
Willoughby 395 (EBK) Limited |
Willoughby 395 (EBK) Limited (Registered number: 08951220) |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Willoughby 395 (EBK) Limited |
Company Information |
for the Year Ended 31 March 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Hine House |
25 Regent Street |
Nottingham |
Nottinghamshire |
NG1 5BS |
Willoughby 395 (EBK) Limited (Registered number: 08951220) |
Balance Sheet |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Other reserves |
Retained earnings |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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. |
Willoughby 395 (EBK) Limited (Registered number: 08951220) |
Balance Sheet - continued |
31 March 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Willoughby 395 (EBK) Limited (Registered number: 08951220) |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
Willoughby 395 (EBK) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Reserves |
The directors have reviewed the reserves of the company. On the basis that the Other Reserves arising on the company's formation relate to the revaluation of the company's investments at that time, they consider it more appropriate that any subsequent revaluation increases or impairments of the investments should be reflected within that reserve, rather than Retained Earnings. These accounts have therefore been prepared on that basis and the appropriate adjustments reflected in the Statement of Changes in Equity. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
Willoughby 395 (EBK) Limited (Registered number: 08951220) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
4. | FIXED ASSET INVESTMENTS |
Interest |
Shares in | in other |
group | participating | Other |
undertakings | interests | investments | Totals |
£ | £ | £ | £ |
COST OR VALUATION |
At 1 April 2023 |
and 31 March 2024 | 10,815,000 | 10,916,100 |
NET BOOK VALUE |
At 31 March 2024 | 10,815,000 | 10,916,100 |
At 31 March 2023 | 10,815,000 | 10,916,100 |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: North Lodge Farm, Widmerpool Lane, Widmerpool, Nottingham NG12 5QE |
Nature of business: |
% |
Class of shares: | holding |
2024 | 2023 |
£ | £ |
Aggregate capital and reserves |
Profit for the year |
Interest in associated companies is in respect of the company's holding of 50% of the ordinary share capital of Evenbrook Capital Partners Limited. The original cost to the company of those shares was £15,801,000. |
The accounts of Evenbrook Capital Partners Limited at 31 March 2024 show aggregate capital and reserves of £25,965,000. After factoring in the appropriate adjustments in respect of deferred tax having been provided for at both company and subsidiary level, providing for asset realisation costs, applying the appropriate discount for this being a non-controlling shareholding, and making provision for a contractual employee profit scheme arrangement, the directors have arrived at the current value of the investment as noted above. |
The other Investments are in respect of structured investment products, the value of which was not materially different from the initial cost at the year end date. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
Willoughby 395 (EBK) Limited (Registered number: 08951220) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed to group undertakings |
Other creditors |
7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of year | ( |
) | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) |
8. | RELATED PARTY DISCLOSURES |
Other creditors includes £156,028 (2023 £229,487) owed to Willoughby 395 Limited. |
Debtors includes £318,203 (2023 £299,939) due from Mopane Investment Company Limited, of which C A Butterfield FCA, is a director, and £0 (2023 £108,186) due from a family member of the directors. |
The above loans are all interest free and repayable on demand. |
At the year end the company was owed £1,047,099 by its directors (2023 £15,182 owed to the directors). Interest has been paid at the official rate on the loan. |