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REGISTERED NUMBER: 10432844 (England and Wales)















Financial Statements for the Year Ended 31 May 2024

for

Wordsworth Property Services Limited

Wordsworth Property Services Limited (Registered number: 10432844)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Wordsworth Property Services Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: Professor C Currie





REGISTERED OFFICE: 24 Wordsworth Avenue
Roath
Cardiff
CF24 3FR





REGISTERED NUMBER: 10432844 (England and Wales)





ACCOUNTANTS: DHB Accountants Limited
Chartered Accountants
Statutory Auditors
110 Whitchurch Road
Cardiff
CF14 3LY

Wordsworth Property Services Limited (Registered number: 10432844)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 13,645 17,089
Investment property 5 1,632,842 1,632,842
1,646,487 1,649,931

CURRENT ASSETS
Debtors 6 12,565 2,583
Cash at bank 16,763 11,007
29,328 13,590
CREDITORS
Amounts falling due within one year 7 78,164 112,319
NET CURRENT LIABILITIES (48,836 ) (98,729 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,597,651

1,551,202

CREDITORS
Amounts falling due after more than one
year

8

246,320

241,480
NET ASSETS 1,351,331 1,309,722

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,351,231 1,309,622
1,351,331 1,309,722

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Wordsworth Property Services Limited (Registered number: 10432844)

Balance Sheet - continued
31 May 2024


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

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 19 February 2025 and were signed by:





Professor C Currie - Director


Wordsworth Property Services Limited (Registered number: 10432844)

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

1. STATUTORY INFORMATION

Wordsworth Property Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis. The director has reviewed future income streams, available funding and the nature of the company's creditors and is of the opinion that the company will be able to meet all of its financial obligations as they fall due for the foreseeable future such that in his opinion the going concern concept is entirely appropriate.

Turnover
Turnover 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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost

Investment property
Investment property is initially recognised at cost but an adjustment is made at the balance sheet date to recognise fair value. Any difference is recognised in the Income statement and taxation provided for as appropriate.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 NIL (2023 - NIL).

Wordsworth Property Services Limited (Registered number: 10432844)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 21,361
Additions 1,035
At 31 May 2024 22,396
DEPRECIATION
At 1 June 2023 4,272
Charge for year 4,479
At 31 May 2024 8,751
NET BOOK VALUE
At 31 May 2024 13,645
At 31 May 2023 17,089

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023
and 31 May 2024 1,632,842
NET BOOK VALUE
At 31 May 2024 1,632,842
At 31 May 2023 1,632,842

In the opinion of the director, having regard to available information and advice from a Chartered Surveyor, Investment Property has a fair value at least equal to the amount at which the asset is stated in the financial statements.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 246 -
Other debtors 12,319 2,583
12,565 2,583

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 6,148 17,136
Trade creditors 13,356 11,124
Taxation and social security 21,451 10,620
Other creditors 37,209 73,439
78,164 112,319

Wordsworth Property Services Limited (Registered number: 10432844)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 246,320 241,480

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 252,468 258,616

Bank loans are secured by a formal legal charge over the Freehold Investment Property included in these financial statements.

10. RELATED PARTY DISCLOSURES

Consultancy income and Rental income included in these accounts derives from a company owned by the director, a formal lease has been entered into on an arms length basis.

Costs include £17,600 for consultancy services provided in the normal course of business by persons
with a family connection to the director.

Other creditors includes £27,370 (2023:£63,936) due to the directors wife, the loan is unsecured with no fixed repayment terms.

11. ULTIMATE CONTROLLING PARTY

The controlling party is Professor C Currie.