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REGISTERED NUMBER: 12765737 (England and Wales)















Unaudited Financial Statements For The Year Ended 31 July 2024

for

Wilfrid Properties Limited

Wilfrid Properties Limited (Registered number: 12765737)






Contents of the Financial Statements
For The Year Ended 31 July 2024




Page

Company information 1

Balance sheet 2

Notes to the financial statements 3


Wilfrid Properties Limited

Company Information
For The Year Ended 31 July 2024







Director: L Johnson





Registered office: 34 Ashdown Way
Ipswich
Suffolk
IP3 8RJ





Registered number: 12765737 (England and Wales)





Accountants: SMD Accounts LLP
Chartered Certified Accountants
The Vineyards
Knox Lane, Bardwell
Bury St Edmunds
Suffolk
IP31 1AX

Wilfrid Properties Limited (Registered number: 12765737)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Investment property 4 761,061 941,061

Current assets
Cash at bank 5,257 7,572

Creditors
Amounts falling due within one year 5 338,033 389,845
Net current liabilities (332,776 ) (382,273 )
Total assets less current liabilities 428,285 558,788

Creditors
Amounts falling due after more than one
year

6

(365,000

)

(485,000

)

Provisions for liabilities 8 (6,426 ) (15,536 )
Net assets 56,859 58,252

Capital and reserves
Called up share capital 9 100 100
Fair value reserve 19,277 46,608
Retained earnings 37,482 11,544
Shareholders' funds 56,859 58,252

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 12 March 2025 and were signed by:





L Johnson - Director


Wilfrid Properties Limited (Registered number: 12765737)

Notes to the Financial Statements
For The Year Ended 31 July 2024

1. Statutory information

Wilfrid Properties Limited 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.

Going concern
Despite net current liabilities of £332,776 (2023: £382,273) the director has a reasonable expectation that the company will continue for the foreseeable future therefore the accounts have been prepared on the going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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. Investment property
Total
£   
Fair value
At 1 August 2023 941,061
Additions (180,000 )
At 31 July 2024 761,061
Net book value
At 31 July 2024 761,061
At 31 July 2023 941,061

Wilfrid Properties Limited (Registered number: 12765737)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2024

4. Investment property - continued

The fair value of the investment property has been arrived at on the basis of a valuation carried out at the year end by the director. The valuation was made on an open market value basis by reference to market evidence of transactions prices for similar properties.

On a historical cost basis the investment property would have been included at an original cost of £735,358 (2023 - £878,917).

5. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors - 65,760
Taxation and social security 6,801 1,155
Other creditors 331,232 322,930
338,033 389,845

6. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 365,000 485,000

7. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 365,000 485,000

8. Provisions for liabilities
2024 2023
£    £   
Deferred tax
Other timing differences 6,426 15,536

Deferred
tax
£   
Balance at 1 August 2023 15,536
Credit to Income statement during year (9,110 )
Balance at 31 July 2024 6,426

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100