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Registered number: 02481568









W.J. HOLDINGS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

 
W.J. HOLDINGS LIMITED
 
 
COMPANY INFORMATION


Director
P Isaacs 




Registered number
02481568



Registered office
163 Darley Green Road
Knowle

Solihull

West Midlands

B93 8PU





 
W.J. HOLDINGS LIMITED
REGISTERED NUMBER: 02481568

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
611,000
611,000

  
611,000
611,000

  

Creditors: amounts falling due within one year
 5 
(165,409)
(186,691)

Net current liabilities
  
 
 
(165,409)
 
 
(186,691)

Total assets less current liabilities
  
445,591
424,309

Creditors: amounts falling due after more than one year
 6 
(121,478)
(132,575)

Provisions for liabilities
  

Deferred tax
  
(37,155)
(45,250)

Net assets
  
286,958
246,484


Capital and reserves
  

Called up share capital 
  
54,188
54,188

Share premium account
 8 
8,499
8,499

Revaluation reserve
 8 
232,620
232,620

Profit and loss account
 8 
(8,349)
(48,823)

  
286,958
246,484


Page 1

 
W.J. HOLDINGS LIMITED
REGISTERED NUMBER: 02481568
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 18 March 2025.

P Isaacs
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
W.J. HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

W.J. Holdings Limited is a limited liability company incorporated and domiciled in the United Kingdom. The address of its registered office is disclosed on the company information page. 
The financial statements are prepared in Sterling (£). 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.3

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Page 3

 
W.J. HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.5

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.7

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 4

 
W.J. HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Investment property


Freehold investment property

£



Valuation


At 1 July 2023
611,000



At 30 June 2024
611,000

The company's investment property was valued on an open market basis on 20 September 2021 by Howkins and Harrison LLP, a firm of independent chartered surveyors, at market value. 
The directors are not aware of any material change in the fair value and therefore the valuation has not been updated. 

The 2024 valuations were made by the directors, on an open market value for existing use basis.





5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
-
26,245

Bank loans
14,900
14,900

Other creditors
150,509
145,546

165,409
186,691


The bank loan is secured on the investment property. This loans attracts interest of 4.1% and is repayable in October 2031.


6.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
121,478
132,575


Page 5

 
W.J. HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
14,900
14,900

Amounts falling due 1-2 years

Bank loans
15,237
15,238

Amounts falling due 2-5 years

Bank loans
47,808
47,808

Amounts falling due after more than 5 years

Bank loans
58,433
69,529

136,378
147,475



8.


Reserves

Share premium account

The share premium reserve represents the premium arising on issue of equity shares, net of issue expenses.

Revaluation reserve

The reserve represents the revaluation of the company's freehold property prior to reclassification to investment property.

Profit and loss account

The profit and loss reserve represents accumulated profit and loss for the current period and prior periods less dividends paid.


9.


Related party transactions

The company has taken advantage of the exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. 

Page 6

 
W.J. HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

10.


Controlling party

The company's immediate and ultimate parent undertaking is Ensco 1067 Limited, a company registered in England and Wales. This is the smallest and largest group for which consolidated financial statements are drawn up. The consolidated accounts are available from Companies House, Crown Way, Cardiff, CF14 3UZ.
The directors consider the ultimate controlling party to be P Isaacs by virtue of his shareholding. 
 

Page 7