Registered number
12819680
WW 1903 Limited
Unaudited Filleted Accounts
31 August 2024
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
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