REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 May 2024 |
for |
Wildon Property Solutions Ltd |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 May 2024 |
for |
Wildon Property Solutions Ltd |
Wildon Property Solutions Ltd (Registered number: 10518008) |
Contents of the Financial Statements |
for the Year Ended 31 May 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Wildon Property Solutions Ltd |
Company Information |
for the Year Ended 31 May 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
19 Victoria Terrace |
Hove |
East Sussex |
BN3 2WB |
Wildon Property Solutions Ltd (Registered number: 10518008) |
Statement of Financial Position |
31 May 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 9 |
Retained earnings | ( |
) | ( |
) |
The director acknowledges her 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. |
Wildon Property Solutions Ltd (Registered number: 10518008) |
Statement of Financial Position - continued |
31 May 2024 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Wildon Property Solutions Ltd (Registered number: 10518008) |
Notes to the Financial Statements |
for the Year Ended 31 May 2024 |
1. | STATUTORY INFORMATION |
Wildon Property Solutions Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Fixtures and fittings | - |
Property, plant and equipment are initially recognised at cost including all costs in bringing the asset to working condition for use. Subsequent to initial recognition fixed assets are carried at cost less depreciation and impairment. |
Depreciation is charged over the useful economic life of the asset, and is charged to the profit and loss account in accordance with IAS 16. |
The carrying amount of property, plant and equipment is reviewed annually to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. |
Investment property |
Investment property is initially recognised at cost including transaction costs. Subsequent to initial recognition investment property applies the fair value model. |
Fair value is deemed to be the price that would be received to sell the asset in an orderly transaction between two market participants at the measurement date. Any fair value gains or losses are projected through the profit and loss in line with reporting standards. |
No depreciation is charged on investment property. |
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 statement of financial position date. |
Wildon Property Solutions Ltd (Registered number: 10518008) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2024 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | PROPERTY, PLANT AND EQUIPMENT |
Fixtures |
and |
fittings |
£ |
COST |
At 1 June 2023 |
and 31 May 2024 |
DEPRECIATION |
At 1 June 2023 |
Charge for year |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 June 2023 |
Revaluations | 40,000 |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
Fair value at 31 May 2024 is represented by: |
£ |
Valuation in 2024 | 400,000 |
Wildon Property Solutions Ltd (Registered number: 10518008) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2024 |
5. | INVESTMENT PROPERTY - continued |
If investment property had not been revalued it would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 197,083 | 197,083 |
Investment property was valued on an open market basis on 31 May 2024 by the directors . |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Directors' current accounts | 28,586 | 40,309 |
Accruals and deferred income |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans more 5 yrs non-inst | 17,759 | 20,464 |
Mortgage creditor | 269,798 | 269,804 |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst |
9. | RESERVES |
Revaluation |
reserve |
£ |
At 1 June 2023 |
Non-distributable reserve | 32,400 |
At 31 May 2024 |
Wildon Property Solutions Ltd (Registered number: 10518008) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2024 |
10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of year | ( |
) | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) | ( |
) |
11. | RELATED PARTY DISCLOSURES |
At the year end 31 May 2024, the company owed £11,418 to Wildon Consultancy Limited, a company also controlled by Ms S Wilson. |