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Registered number: 07603860









WIND SONG INVESTMENTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

 
WIND SONG INVESTMENTS LIMITED
REGISTERED NUMBER: 07603860

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
  
580
-

Investments
 6 
2,959,324
2,778,648

Current assets
  

Debtors: amounts falling due within one year
 7 
2,102
709

Cash at bank and in hand
  
13,017
25,119

  
15,119
25,828

Creditors: amounts falling due within one year
 8 
(916,254)
(891,151)

Net current liabilities
  
 
 
(901,135)
 
 
(865,323)

Total assets less current liabilities
  
2,058,769
1,913,325

Creditors: amounts falling due after more than one year
 9 
(1,593,330)
(1,593,330)

Provisions for liabilities
  

Deferred tax
  
(133,622)
(88,453)

Net assets
  
331,817
231,542


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
331,717
231,442

  
331,817
231,542


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

 
WIND SONG INVESTMENTS LIMITED
REGISTERED NUMBER: 07603860
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 January 2025.




A J O'Riley-Lynn
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
WIND SONG INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Wind Song Investments Limited ("the Company") is a company limited by shares, incorporated in England and Wales. Its registered office is Leytonstone House, 3 Hanbury Drive, Leytonstone, London, England, E11 1GA.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rental Income
Rental income is recognised in the period to which it relates.

 
2.3

Going concern

The directors have injected property into the business which caused significant initial costs. However, the Company has the full financial support from the directors and it has returned to further profitability in this financial year. The accounts have therefore been prepared on a going concern basis.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
WIND SONG INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


  
2.7

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
WIND SONG INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.11

Creditors

Short-term creditors are measured at the transaction price.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The directors have used their judgment in determining the fair value of their investment property with their experience in current market rents and investment property yields for comparable real estate and adjusted if necessary for any difference in the nature, location or condition of the specific asset. During the current year the directors have also based their assessment on a independent valuation from its mortgage provider. See note 6 for further information.

Page 5

 
WIND SONG INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Employees

2024
2023
£
£

Wages and salaries
16,580
16,580

Social security costs
108
108

16,688
16,688


The average monthly number of employees, including directors, during the year was 3 (2023 - 2).


5.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


Additions
580



At 30 April 2024

580






Net book value



At 30 April 2024
580



At 30 April 2023
-

Page 6

 
WIND SONG INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

6.


Investment property





Investment property

£



Cost or valuation


At 1 May 2023
2,778,648


Revaluations
180,676



At 30 April 2024
2,959,324




During the year two of the properties were revalued to their fair value with an uplift of £180,676. This was based on an indpendent valuation by the mortgage provider which the directors have used for the basis of their assessment. See note 3 for further information.

Page 7

 
WIND SONG INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

7.


Debtors

2024
2023
£
£


Trade debtors
625
-

Other debtors
1,477
-

Prepayments and accrued income
-
709

2,102
709



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
2,512
-

Other taxation and social security
108
-

Other creditors
901,896
882,567

Accruals and deferred income
11,738
8,584

916,254
891,151



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
1,593,330
1,593,330


The loans are secured against the properties to which they relate.


10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£




Amounts falling due after more than 5 years

Bank loans
1,593,330
1,593,330


Loans of £1,593,330 (2023 - £1,593,330) are secured upon the properties to which they relate. These are loans are interest only and are repayable otherwise than by instalments.

Page 8

 
WIND SONG INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

11.


Deferred taxation




2024


£






At beginning of year
(88,453)


Charged to profit or loss
(45,169)



At end of year
(133,622)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Revaluation of properties
133,622
88,453


12.


Related party transactions

Included within other creditors are amounts of £894,746 (2023 - £882,117) owed to the directors.
A gift of £Nil
 (2023 - £48,750) was made from the director's loan account in the current year.


13.


Controlling party

The directors, A J O'Riley-Lynn and B H O'Riley-Lynn, are considered as the controlling parties.

 
Page 9