2 2 Wyndana Limited NI010992 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is property letting Digita Accounts Production Advanced 6.30.9574.0 true true NI010992 2023-06-01 2024-05-31 NI010992 2024-05-31 NI010992 bus:OrdinaryShareClass1 2024-05-31 NI010992 core:CurrentFinancialInstruments 2024-05-31 NI010992 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 NI010992 core:FurnitureFittingsToolsEquipment 2024-05-31 NI010992 core:LandBuildings 2024-05-31 NI010992 bus:SmallEntities 2023-06-01 2024-05-31 NI010992 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 NI010992 bus:FilletedAccounts 2023-06-01 2024-05-31 NI010992 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 NI010992 bus:RegisteredOffice 2023-06-01 2024-05-31 NI010992 bus:Director3 2023-06-01 2024-05-31 NI010992 bus:OrdinaryShareClass1 2023-06-01 2024-05-31 NI010992 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 NI010992 core:Buildings 2023-06-01 2024-05-31 NI010992 core:FurnitureFittings 2023-06-01 2024-05-31 NI010992 countries:NorthernIreland 2023-06-01 2024-05-31 NI010992 2023-05-31 NI010992 core:FurnitureFittingsToolsEquipment 2023-05-31 NI010992 core:LandBuildings 2023-05-31 NI010992 2021-12-01 2023-05-31 NI010992 2023-05-31 NI010992 bus:OrdinaryShareClass1 2023-05-31 NI010992 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 NI010992 core:CurrentFinancialInstruments core:WithinOneYear core:PreviouslyStatedAmount 2023-05-31 NI010992 core:CurrentFinancialInstruments core:PreviouslyStatedAmount 2023-05-31 NI010992 core:FurnitureFittingsToolsEquipment 2023-05-31 NI010992 core:LandBuildings 2023-05-31 NI010992 core:PreviouslyStatedAmount 2023-05-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: NI010992

Wyndana Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Wyndana Limited

(Registration number: NI010992)
Balance Sheet as at 31 May 2024

Note

31/05/2024
£

31/05/2023
£

Fixed assets

 

Tangible assets

4

1,405,000

1,405,000

Current assets

 

Debtors

5

7,457

413,668

Cash at bank and in hand

 

319,706

405,681

 

327,163

819,349

Creditors: Amounts falling due within one year

6

(47,968)

(221,327)

Net current assets

 

279,195

598,022

Total assets less current liabilities

 

1,684,195

2,003,022

Provisions for liabilities

7

(131,800)

(131,800)

Net assets

 

1,552,395

1,871,222

Capital and reserves

 

Called up share capital

8

25,000

25,000

Retained earnings

9

1,527,395

1,846,222

Shareholders' funds

 

1,552,395

1,871,222

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 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 and 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 10 February 2025
 

.........................................
Mr Kenneth James
Director

 

Wyndana Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: 3 Cleaver Park, Belfast, Co Antrim, BT9 5HX.

These financial statements were authorised for issue by the director on 10 February 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.

Rental income

Rental income represents the amount of rental and related charges invoiced to tenants.

Taxation

Current 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.

Deferred tax is provided in respect of all timing differences at the balance sheet. Timing differences are differences between the Company’s taxable profit and its results stated in the financial statements that arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. Deferred tax assets and liabilities are not discounted.

 

Wyndana Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Freehold property

nil

Fixtures and fittings

25% straight line

Investment property

Investment properties are initially measured at cost. Cost comprises the purchase price and any directly attributable expenditure including fees, taxes and other transaction costs. Direct costs initially incurred in arranging a lease are included in the cost of the property and subsequently expensed over the lease term. Investment properties are measured at fair value at each reporting date with any changes in fair value recognised in the profit and loss account.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Financial assets, including debtors, are reviewed at the reporting date to determine if there is any evidence of potential impairment. Any losses arising from impairment are recognised in the income statement in operating expenses.

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 2 (2023 - 2).

 

Wyndana Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Tangible assets

Investment properties
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 June 2023

1,405,000

2,500

1,407,500

At 31 May 2024

1,405,000

2,500

1,407,500

Depreciation

At 1 June 2023

-

2,500

2,500

At 31 May 2024

-

2,500

2,500

Carrying amount

At 31 May 2024

1,405,000

-

1,405,000

At 31 May 2023

1,405,000

-

1,405,000

The investment properties have been valued by the director as at 31 May 2024.

5

Debtors

31/05/2024
£

31/05/2023
£

Trade debtors

4,001

6,163

Prepayments

3,456

5,471

Funds held with solicitor

-

402,034

7,457

413,668

6

Creditors

Creditors: amounts falling due within one year

31/05/2024
£

31/05/2023
£

Due within one year

Directors current account

13,487

13,490

Corporation tax

24,164

156,196

Other creditors

10,317

51,641

47,968

221,327

 

Wyndana Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

7

Provision for liabilities

31/05/2024
 £

31/05/2023
 £

Deferred tax

As at 31 May 2023

131,800

204,000

Release of provision on properties sold

-

(104,971)

Movement in provision for properties held

-

32,771

As at 31 May 2024

131,800

131,800


The deferred tax liability relates to the gains reported on the revaluation on the investment properties.

8

Share capital

Allotted, called up and fully paid shares

 

31/05/2024

31/05/2023

 

No.

£

No.

£

Ordinary of £1 each

25,000

25,000

25,000

25,000

         


The Company's share capital comprises 25,000 ordinary £1 shares. The shares carry full voting rights and there are no restrictions on the distribution of dividends or repayment of capital.

9

Retained earnings

31/05/2024

31/05/2023

£

£

Distributable reserve

683,004

1,001,831

Non-distributable reserve

844,391

844,391

1,527,395

1,846,222

10

Related party transactions

31/05/2024
£

31/05/2023
 £

Directors current account

13,487

13,490