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REGISTERED NUMBER: 12759647 (England and Wales)









Unaudited Financial Statements

for the Period 1 August 2023 to 31 May 2024

for

WT MCCORMICK HOLDINGS LTD

WT MCCORMICK HOLDINGS LTD (REGISTERED NUMBER: 12759647)

Contents of the Financial Statements
FOR THE PERIOD 1 AUGUST 2023 TO 31 MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WT MCCORMICK HOLDINGS LTD

Company Information
FOR THE PERIOD 1 AUGUST 2023 TO 31 MAY 2024







DIRECTORS: Dr S N Khan
Dr K Street





REGISTERED OFFICE: 3 Southernhay West
Exeter
Devon
EX1 1JG





REGISTERED NUMBER: 12759647 (England and Wales)





ACCOUNTANTS: Gravita
3 Southernhay West
Exeter
Devon
EX1 1JG

WT MCCORMICK HOLDINGS LTD (REGISTERED NUMBER: 12759647)

Balance Sheet
31 MAY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 13,875 16,726
Investment property 5 800,000 800,000
813,875 816,726

CURRENT ASSETS
Debtors 6 6,010 126
Cash at bank 3,556 1,337
9,566 1,463
CREDITORS
Amounts falling due within one year 7 (579,011 ) (564,611 )
NET CURRENT LIABILITIES (569,445 ) (563,148 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

244,430

253,578

CREDITORS
Amounts falling due after more than one
year

8

(253,708

)

(255,744

)
NET LIABILITIES (9,278 ) (2,166 )

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 27,291 27,291
Retained earnings (36,669 ) (29,557 )
(9,278 ) (2,166 )

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

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

The directors acknowledge their 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.

WT MCCORMICK HOLDINGS LTD (REGISTERED NUMBER: 12759647)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 February 2025 and were signed on its behalf by:





Dr S N Khan - Director


WT MCCORMICK HOLDINGS LTD (REGISTERED NUMBER: 12759647)

Notes to the Financial Statements
FOR THE PERIOD 1 AUGUST 2023 TO 31 MAY 2024


1. COMPANY INFORMATION

WT McCormick Holdings Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Going concern
The company is dependent on funds borrowed from certain related parties who have indicated their willingness to continue their financial support for the foreseeable future. As such these financial statements have been prepared on a going concern basis

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2023 - 2 ) .

WT MCCORMICK HOLDINGS LTD (REGISTERED NUMBER: 12759647)

Notes to the Financial Statements - continued
FOR THE PERIOD 1 AUGUST 2023 TO 31 MAY 2024


4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 August 2023 21,524
Additions 504
At 31 May 2024 22,028
DEPRECIATION
At 1 August 2023 4,798
Charge for period 3,355
At 31 May 2024 8,153
NET BOOK VALUE
At 31 May 2024 13,875
At 31 July 2023 16,726

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023
and 31 May 2024 800,000
NET BOOK VALUE
At 31 May 2024 800,000
At 31 July 2023 800,000

The directors consider that the acquisition cost of the Investment Property additions reasonably reflect market value at the balance sheet date.

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2023 800,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Prepayments and accrued income 6,010 126

WT MCCORMICK HOLDINGS LTD (REGISTERED NUMBER: 12759647)

Notes to the Financial Statements - continued
FOR THE PERIOD 1 AUGUST 2023 TO 31 MAY 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 2,468 2,468
Other creditors 544,000 534,000
Directors' loan accounts 27,614 26,030
Accrued expenses 4,929 2,113
579,011 564,611

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans more 5 yr by instal 248,566 248,546
Hire purchase contracts 5,142 7,198
253,708 255,744

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 248,566 248,546

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 248,566 248,546

There is a fixed and floating charge with Paratus AMC Limited dated 9 February 2021 over the property and undertakings of the company.

10. RELATED PARTY DISCLOSURES

Included within other creditors are amounts due to a limited company which fall under common control. The amount outstanding at the balance sheet date was £544,000 which is repayable on demand. The loan is interest free.