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REGISTERED NUMBER: 12535161 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Wilday Properties Ltd

Wilday Properties Ltd (Registered number: 12535161)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Wilday Properties Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTOR: Mrs B Dosanjh





REGISTERED OFFICE: 255 - 261
Horn Lane
London
W3 9EH





REGISTERED NUMBER: 12535161 (England and Wales)





ACCOUNTANTS: Kumar Business Consultants Ltd
Chartered Certified Accountants
255 - 261 Horn Lane
London
W3 9EH

Wilday Properties Ltd (Registered number: 12535161)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 137
Investment property 5 4,750,000 4,750,000
4,750,000 4,750,137

CURRENT ASSETS
Debtors 6 581,259 577,997
Cash at bank 17,628 105,377
598,887 683,374
CREDITORS
Amounts falling due within one year 7 469,031 538,361
NET CURRENT ASSETS 129,856 145,013
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,879,856

4,895,150

CREDITORS
Amounts falling due after more than one
year

8

3,020,917

3,044,515
NET ASSETS 1,858,939 1,850,635

CAPITAL AND RESERVES
Called up share capital 8 8
Share premium 10 1,703,349 1,703,349
Retained earnings 10 155,582 147,278
1,858,939 1,850,635

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Wilday Properties Ltd (Registered number: 12535161)

Balance Sheet - continued
30 June 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 March 2025 and were signed by:





Mrs B Dosanjh - Director


Wilday Properties Ltd (Registered number: 12535161)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Wilday Properties 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.

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.

Turnover
Rental income is recognised on an accrual basis. Rents receivable from tenants represents rents and service charges receivable in the period.

Where a rent-free period is included in a lease, the rental income foregone is allocated evenly over the period from the date of lease commencement to the earliest termination date.

Rental income from fixed and minimum guaranteed rent reviews is recognised on a straight-line basis over the shorter of the entire lease term or the period to the first break option. Where such rental income is recognised ahead of the related cash flow, an adjustment is made to ensure the carrying value of the related property including the accrued rent does not exceed the external valuation. Initial direct costs incurred in negotiating and arranging a new lease are amortised on a straight-line basis over the period from the date of lease commencement to the earliest termination date.

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 - 25% on cost
Computer equipment - 33.33% on cost

Investment property
Properties are externally valued on the basis of fair value at the balance sheet date. Investment and owner-occupied properties are recorded at valuation whereas trading properties are stated at the lower of cost and net realisable value. Any surplus or deficit arising on revaluing investment properties is recognised in equity.

The cost of properties in the course of development includes attributable interest and other associated outgoings.Interest is calculated on the development expenditure by reference to specific borrowings where relevant and otherwise on the average rate applicable to short-term loans.Interest is not capitalised where no development activity is taking place. A property ceases to be treated as a development property on practical completion.

Where properties held for investment are appropriated to trading stock, they are transferred at market value.If properties held for trading are appropriated to investment, they are transferred at book value.

Taxation
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.


Wilday Properties Ltd (Registered number: 12535161)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 549 1,059 1,608
DEPRECIATION
At 1 July 2023 412 1,059 1,471
Charge for year 137 - 137
At 30 June 2024 549 1,059 1,608
NET BOOK VALUE
At 30 June 2024 - - -
At 30 June 2023 137 - 137

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 4,750,000
NET BOOK VALUE
At 30 June 2024 4,750,000
At 30 June 2023 4,750,000

The investment property has been valued by the directors at the year end date at the cost price as they conclude there has been no material effect to the value as it was purchased recently.

Wilday Properties Ltd (Registered number: 12535161)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Other debtors 556,179 567,176
Rent deposit 13,080 10,821
569,259 577,997

Amounts falling due after more than one year:
Trade debtors 12,000 -

Aggregate amounts 581,259 577,997

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other loans 5,367 5,235
Tax 1,980 13,317
Social security and other taxes - 1
Net pay 905 -
Rent deposits 13,080 10,821
Directors' current accounts 444,099 505,387
Accrued expenses 3,600 3,600
469,031 538,361

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans more 5 yrs non-inst 2,991,977 3,010,208
Other loans - 2-5 years 28,940 34,307
3,020,917 3,044,515

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 2,991,977 3,010,208

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 2,991,977 3,010,208

Bank Loans are secured by a fixed and floating charge over the assets of the company.

Wilday Properties Ltd (Registered number: 12535161)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

10. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 July 2023 147,278 1,703,349 1,850,627
Profit for the year 8,304 8,304
At 30 June 2024 155,582 1,703,349 1,858,931