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Registration number: 08016440

Widdicombe Property Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Widdicombe Property Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Widdicombe Property Limited

Company Information

Director

Mr Graydon Widdicombe

Registered office

81 Blatchcombe Road
Paignton
TQ3 2JR

Accountants

Neil Wilson & Co Chartered Accountants
Bank Chambers
260-262 Union Street
Torquay
Devon
TQ2 5QU

 

Widdicombe Property Limited

(Registration number: 08016440)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

48,339

48,339

Creditors: Amounts falling due within one year

5

(44,522)

(45,903)

Net assets

 

3,817

2,436

Capital and reserves

 

Called up share capital

6

2

2

Retained earnings

3,815

2,434

Shareholders' funds

 

3,817

2,436

For the financial year ending 30 April 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 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 17 January 2025
 

.........................................
Mr Graydon Widdicombe
Director

 

Widdicombe Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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:
81 Blatchcombe Road
Paignton
TQ3 2JR

These financial statements were authorised for issue by the director on 17 January 2025.

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 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.

Tax

The tax expense for the period comprises 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.

 

Widdicombe Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

The company's only asset is a proeprty that it maintains to level that ensures it's contnued value and because of this the director has decided that there is no need to depreciate the asset.

Asset class

Depreciation method and rate

Property

Nil

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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Widdicombe Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 May 2023

48,339

48,339

At 30 April 2024

48,339

48,339

Depreciation

Carrying amount

At 30 April 2024

48,339

48,339

At 30 April 2023

48,339

48,339

Included within the net book value of land and buildings above is £48,339 (2023 - £48,339) in respect of long leasehold land and buildings.
 

 

Widdicombe Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

414

825

Accruals and deferred income

250

265

Other creditors

43,858

44,813

44,522

45,903

6

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         

7

Dividends

   

2024

 

2023

   

£

 

£

Interim dividend of £2,000.00 (2023 - £1,600.00) per ordinary share

 

2,000

 

1,600

         

8

Related party transactions

 

Widdicombe Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Transactions with the director

2024

At 1 May 2023
£

Advances to director
£

At 30 April 2024
£

Mr Graydon Widdicombe

loan to company upon which interest is charged

(44,813)

955

(43,858)

       
     

 

2023

At 1 May 2022
£

Advances to director
£

At 30 April 2023
£

Mr Graydon Widdicombe

loan to company upon which interest is charged

(45,377)

564

(44,813)

       
     

 

 

Widdicombe Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Dividends paid to the director

   

2024
£

 

2023
£

Mr Graydon Widdicombe

       

Interim dividend

 

2,000

 

1,600