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Company No: 00423024 (England and Wales)

F W LOOKER (WITNEY) LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH THE REGISTRAR

F W LOOKER (WITNEY) LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024

Contents

F W LOOKER (WITNEY) LTD

COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
F W LOOKER (WITNEY) LTD

COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
DIRECTOR Mr C G Looker
SECRETARY Mrs A Looker
REGISTERED OFFICE 52c High Street
Witney
OX28 6HQ
United Kingdom
COMPANY NUMBER 00423024 (England and Wales)
ACCOUNTANT Shaw Gibbs Limited
264 Banbury Road
Oxford
OX2 7DY
United Kingdom
F W LOOKER (WITNEY) LTD

BALANCE SHEET

AS AT 31 DECEMBER 2024
F W LOOKER (WITNEY) LTD

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 675,000 650,000
675,000 650,000
Current assets
Cash at bank and in hand 6,895 7,538
6,895 7,538
Creditors: amounts falling due within one year 5 ( 34,566) ( 30,164)
Net current liabilities (27,671) (22,626)
Total assets less current liabilities 647,329 627,374
Provision for liabilities ( 136,750) ( 130,500)
Net assets 510,579 496,874
Capital and reserves
Called-up share capital 6 2,837 2,837
Revaluation reserve 507,750 482,750
Profit and loss account ( 8 ) 11,287
Total shareholders' funds 510,579 496,874

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of F W Looker (Witney) Ltd (registered number: 00423024) were approved and authorised for issue by the Director on 15 March 2025. They were signed on its behalf by:

Mr C G Looker
Director
F W LOOKER (WITNEY) LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
F W LOOKER (WITNEY) LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 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

F W Looker (Witney) Ltd (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 52c High Street, Witney, Oxon, OX28 6HQ.

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 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.

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

Turnover

The turnover shown in the profit and loss account represents rental amounts receivable during the year.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
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.

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:

Investment property not depreciated
Computer equipment 3 years straight line

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

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.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the director is required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the director has made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

4. Tangible assets

Investment property Computer equipment Total
£ £ £
Cost/Valuation
At 01 January 2024 650,000 1,613 651,613
Revaluations 25,000 0 25,000
0 0 0
0 0 0
At 31 December 2024 675,000 1,613 676,613
Accumulated depreciation
At 01 January 2024 0 1,613 1,613
At 31 December 2024 0 1,613 1,613
Net book value
At 31 December 2024 675,000 0 675,000
At 31 December 2023 650,000 0 650,000

Investment properties

The investment property has been revalued by the director having taken appropriate professional advice.

5. Creditors: amounts falling due within one year

2024 2023
£ £
Other creditors 34,566 30,164

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2,837 A ordinary shares of £ 1.00 each 2,837 2,837

7. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Amount owed to the director 33,395 28,995

This amount is unsecured with no fixed repayable terms other than it is repayable on demand. No interest has been charged on this amount.