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COMPANY REGISTRATION NUMBER: 04113951
Wind Prospect Developments Limited
Filleted Unaudited Financial Statements
30 June 2024
Wind Prospect Developments Limited
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
Current assets
Debtors
4
1,192,395
1,192,395
Creditors: amounts falling due within one year
5
1,158,627
1,158,627
------------
------------
Net current assets
33,768
33,768
--------
--------
Total assets less current liabilities
33,768
33,768
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
33,668
33,668
--------
--------
Shareholder funds
33,768
33,768
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
The company did not trade during the year and has not made either a profit or loss.
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 12 March 2025 , and are signed on behalf of the board by:
E P Cameron
Director
Company registration number: 04113951
Wind Prospect Developments Limited
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 25 Shirleys, Ditchling, Hassocks, BN6 8UD, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company's ultimate holding company (Wind Prospect Group Limited) entered into a voluntary arrangement (CVA) in June 2017. The company is dormant with its main debtors and creditors being balances with other group undertakings. The fulfilment of all obligations will be through the realisation of income from group development assets. The CVA concludes that all creditors will receive all monies due once sufficient of the assets have been realised and therefore the directors conclude that it is is appropriate to prepare these accounts under the going concern principle.
Disclosure exemptions
Income statement
The company is dormant as defined by section 1169 of the Companies Act 2006. The company received no income and incurred no expenditure during the current year.
Income tax
The charge for taxation is based on the profit for the year and takes into account taxation deferred because of timing differences between the treatment of certain items for taxation and accounting purposes. Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes which have arisen but not reversed by the balance sheet date, except as otherwise required by Financial Reporting Standard 19.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Debtors
2024
2023
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
1,192,395
1,192,395
------------
------------
Amounts owed by group undertakings may not be recoverable in under one year.
5. Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
1,158,627
1,158,627
------------
------------
Amounts owed to group undertakings are technically due in under one year. However, the directors do not expect such a call to be made to the company.