WW 1903 Limited |
Registered number: |
12819680 |
Balance Sheet |
as at 31 August 2024 |
|
Notes |
|
|
2024 |
|
|
2023 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
1,525,000 |
|
|
1,400,000 |
|
Current assets |
Debtors |
4 |
|
16,915 |
|
|
21,586 |
Cash at bank and in hand |
|
|
19,037 |
|
|
15,258 |
|
|
|
35,952 |
|
|
36,844 |
|
Creditors: amounts falling due within one year |
5 |
|
(245,414) |
|
|
(109,896) |
|
Net current liabilities |
|
|
|
(209,462) |
|
|
(73,052) |
|
Total assets less current liabilities |
|
|
|
1,315,538 |
|
|
1,326,948 |
|
Creditors: amounts falling due after more than one year |
6 |
|
|
(1,517,878) |
|
|
(1,517,678) |
|
|
|
Net liabilities |
|
|
|
(202,340) |
|
|
(190,730) |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
2 |
|
|
2 |
Revaluation reserve |
8 |
|
|
(161,887) |
|
|
(160,829) |
Profit and loss account |
|
|
|
(40,455) |
|
|
(29,903) |
|
Shareholders' funds |
|
|
|
(202,340) |
|
|
(190,730) |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
Mrs J Perkins |
Director |
Approved by the board on 4 February 2025 |
|
WW 1903 Limited |
Notes to the Accounts |
for the year ended 31 August 2024 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover represents rental income and is recognised on a receivable basis. |
|
|
Investment properties |
|
Investment properties are valued annually by the directors at fair value. Any surplus or deficit on revaluation is recognised in the profit and loss account in the year they occur and are then transferred to the revaluation reserve. No depreciation is provided in respect of investment properties. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Going concern |
|
The accounts have been prepared on the going concern basis as the directors and parent company have agreed to continue their support for the foreseeable future. |
|
|
2 |
Employees |
2024 |
|
2023 |
Number |
Number |
|
|
Average number of persons employed by the company |
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Investment properties |
£ |
|
Cost |
|
At 1 September 2023 |
1,400,000 |
|
Additions |
126,058 |
|
Deficit on revaluation |
(1,058) |
|
At 31 August 2024 |
1,525,000 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 31 August 2024 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 August 2024 |
1,525,000 |
|
At 31 August 2023 |
1,400,000 |
|
|
|
|
|
|
|
|
|
|
|
Investment properties: |
2024 |
|
2023 |
£ |
£ |
|
Historical cost |
1,686,887 |
|
1,560,829 |
|
Cumulative depreciation based on historical cost |
- |
|
- |
|
|
|
|
|
|
1,686,887 |
|
1,560,829 |
|
The directors consider the fair value of the investment property at the year end to be £1,525,000 (2023 - £1,400,000). |
|
|
4 |
Debtors |
2024 |
|
2023 |
£ |
£ |
|
|
Trade debtors |
600 |
|
600 |
|
Other debtors |
16,315 |
|
20,986 |
|
|
|
|
|
|
16,915 |
|
21,586 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
|
Taxation and social security costs |
1,560 |
|
580 |
|
Other creditors |
243,854 |
|
109,316 |
|
|
|
|
|
|
245,414 |
|
109,896 |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due after one year |
2024 |
|
2023 |
£ |
£ |
|
|
Bank loans |
945,000 |
|
945,000 |
|
Other creditors |
572,878 |
|
572,678 |
|
|
|
|
|
|
1,517,878 |
|
1,517,678 |
|
|
|
|
|
|
|
|
|
|
7 |
Loans |
2024 |
|
2023 |
£ |
£ |
|
Creditors include: |
|
|
Secured bank loans |
945,000 |
|
945,000 |
|
|
|
|
|
|
|
|
|
|
The mortgage is secured on the investment property and is personally guaranteed by the company directors. |
|
|
8 |
Revaluation reserve |
2024 |
|
2023 |
£ |
£ |
|
|
At 1 September 2023 |
(160,829) |
|
(160,829) |
|
Loss on revaluation of land and buildings |
(1,058) |
|
- |
|
|
At 31 August 2024 |
(161,887) |
|
(160,829) |
|
|
|
|
|
|
|
|
|
|
9 |
Controlling party |
|
|
The company's parent company is Walton Wagner Limited, a company under the control of Mrs J Perkins and Mr N A Walton. Its registered office is: |
|
Portland House |
|
21 Narborough Road |
|
Cosby |
|
Leicester |
|
LE9 1TA |
|
10 |
Other information |
|
|
WW 1903 Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Portland House |
|
21 Narborough Road |
|
Cosby |
|
Leicester |
|
LE9 1TA |