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L. H. WILSON LIMITED

Registered Number
00706845
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2024

L. H. WILSON LIMITED
Company Information
for the year from 1 November 2023 to 31 October 2024

Directors

WILSON, Michael John
WILSON, Peter Alan

Company Secretary

WILSON, Peter Alan

Registered Address

Parkside Moor Road
Bramhope
Leeds
LS16 9HH

Registered Number

00706845 (England and Wales)
L. H. WILSON LIMITED
Statement of Financial Position
31 October 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets39361,351
Investment property42,283,2002,283,200
2,284,1362,284,551
Current assets
Debtors54,6423,738
Cash at bank and on hand16,47618,833
21,11822,571
Creditors amounts falling due within one year6(69,118)(63,493)
Net current assets (liabilities)(48,000)(40,922)
Total assets less current liabilities2,236,1362,243,629
Provisions for liabilities7(252,495)(252,574)
Net assets1,983,6411,991,055
Capital and reserves
Called up share capital1,4001,400
Other reserves1,459,5871,459,587
Profit and loss account522,654530,068
Shareholders' funds1,983,6411,991,055
The financial statements were approved and authorised for issue by the Board of Directors on 3 March 2025, and are signed on its behalf by:
WILSON, Peter Alan
Director
Registered Company No. 00706845
L. H. WILSON LIMITED
Notes to the Financial Statements
for the year ended 31 October 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The financial statements have been prepared under the historical cost convention, modified to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover represents the amounts relating to sale of aftermarket products for lubrication systems and is shown net of value added tax.
Current taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment3
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is initially recognised in the profit and loss account and subsequently transferred to other reserves. Rental income from the company's investment properties is included in other operating income and is shown net of VAT. Rental income recognised in the financial statements relates to rent receivable for the accounting period. Rent received in advance is recognised as deferred income within creditors.
Finance leases and hire purchase contracts
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease.
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 November 233,7003,700
Additions707707
At 31 October 244,4074,407
Depreciation and impairment
At 01 November 232,3492,349
Charge for year1,1221,122
At 31 October 243,4713,471
Net book value
At 31 October 24936936
At 31 October 231,3511,351
4.Investment property
The fair value of the investment property has been arrived at on an open market value basis by reference to market evidence of transaction prices for similar properties.

£
Fair value at 01 November 232,283,200
At 31 October 242,283,200
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables4,6423,738
Total4,6423,738
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables102487
Taxation and social security47,32740,015
Other creditors21,68922,991
Total69,11863,493
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)252,495252,574
Total252,495252,574