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Company No: 06861630 (England and Wales)

WS HOLDINGS LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

WS HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

WS HOLDINGS LIMITED

COMPANY INFORMATION

For the financial year ended 30 June 2024
WS HOLDINGS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 June 2024
DIRECTORS Simon Steele-Wiseman (Resigned 25 August 2023)
Howard Leslie Wiseman
Monique Jaqueline Wiseman
REGISTERED OFFICE Davis Grant Llp Treviot House
189-192 High Road
Ilford
IG1 1LR
United Kingdom
COMPANY NUMBER 06861630 (England and Wales)
ACCOUNTANT Gravita Essex Limited
Treviot House
186-192 High Road
Ilford
Essex
IG1 1LR
United Kingdom
WS HOLDINGS LIMITED

BALANCE SHEET

As at 30 June 2024
WS HOLDINGS LIMITED

BALANCE SHEET (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,457 1,942
Investment property 4 3,884,875 5,711,304
3,886,332 5,713,246
Current assets
Debtors 5 23,426 17,311
Cash at bank and in hand 6 44,097 26,787
67,523 44,098
Creditors: amounts falling due within one year 7 ( 247,732) ( 238,481)
Net current liabilities (180,209) (194,383)
Total assets less current liabilities 3,706,123 5,518,863
Creditors: amounts falling due after more than one year 8 ( 377,054) ( 401,371)
Provision for liabilities ( 613,653) ( 1,070,260)
Net assets 2,715,416 4,047,232
Capital and reserves
Called-up share capital 457,861 457,861
Fair value reserve 2,096,372 3,466,194
Profit and loss account 161,183 123,177
Total shareholder's funds 2,715,416 4,047,232

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of WS Holdings Limited (registered number: 06861630) were approved and authorised for issue by the Board of Directors on 13 February 2025. They were signed on its behalf by:

Monique Jaqueline Wiseman
Director
WS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
WS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

WS Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Davis Grant Llp Treviot House, 189-192 High Road, Ilford, IG1 1LR, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover represents rent and service charges receivable during the year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 4

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 July 2023 2,982 2,982
At 30 June 2024 2,982 2,982
Accumulated depreciation
At 01 July 2023 1,040 1,040
Charge for the financial year 485 485
At 30 June 2024 1,525 1,525
Net book value
At 30 June 2024 1,457 1,457
At 30 June 2023 1,942 1,942

4. Investment property

Investment property
£
Valuation
As at 01 July 2023 5,711,304
Fair value movement (1,826,429)
As at 30 June 2024 3,884,875

During the year, the Investment properties held were revalued by surveyors to ascertain current market value. It was found that the values were substantially lower than the fair value of the properties recorded in the financial statements for the previous year. In the previous year, the directors had undertaken the valuing of the properties.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

2024 2023
£ £
Historic cost 1,174,850 1,174,850

5. Debtors

2024 2023
£ £
Trade debtors 21,942 15,852
Other debtors 1,484 1,459
23,426 17,311

6. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 44,097 26,787

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 26,315 27,046
Trade creditors 0 6,389
Amounts owed to Group undertakings 104,141 104,141
Taxation and social security 15,215 16,418
Other creditors 102,061 84,487
247,732 238,481

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 377,054 401,371

There are no amounts included above in respect of which any security has been given by the small entity.