Company Registration No. 11497841 (England and Wales)
Wyatt Investments Limited
Unaudited financial statements
for the year ended 30 June 2024
Pages for filing with the registrar
Wyatt Investments Limited
Contents
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 8
Wyatt Investments Limited
Balance sheet
As at 30 June 2024
1
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
4
325,378
294,000
Current assets
Debtors
5
350
440
Cash at bank and in hand
6,093
30,074
6,443
30,514
Creditors: amounts falling due within one year
6
(61,130)
(46,183)
Net current liabilities
(54,687)
(15,669)
Total assets less current liabilities
270,691
278,331
Creditors: amounts falling due after more than one year
7
(195,250)
(225,250)
Net assets
75,441
53,081
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
75,341
52,981
Total equity
75,441
53,081

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

Wyatt Investments Limited
Balance sheet (continued)
As at 30 June 2024
2
The financial statements were approved and signed by the director and authorised for issue on 18 March 2025.
DL Wyatt
Director
Company Registration No. 11497841
Wyatt Investments Limited
Statement of changes in equity
For the year ended 30 June 2024
3
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 July 2022
100
43,469
43,569
Year ended 30 June 2023:
Profit and total comprehensive income
-
9,512
9,512
Balance at 30 June 2023
100
52,981
53,081
Year ended 30 June 2024:
Profit and total comprehensive income
-
22,360
22,360
Balance at 30 June 2024
100
75,341
75,441
Wyatt Investments Limited
Notes to the financial statements
For the year ended 30 June 2024
4
1
Accounting policies
Company information

Wyatt Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is Midland House, 2 Poole Road, Bournemouth, Dorset, BH2 5QY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover consists of rental income from the company's investment property and is recognised at the fair value of the consideration received or receivable.

1.3
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
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 current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Wyatt Investments Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
1
Accounting policies (continued)
5
Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Wyatt Investments Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
1
Accounting policies (continued)
6
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Where items recognised in other comprehensive income or equity are chargeable to or deductible for tax purposes, the resulting current or deferred tax expense or income is presented in the same component of comprehensive income or equity as the transaction or other event that resulted in the tax expense or income. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

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, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
4
Investment property
2024
£
Fair value
At 1 July 2023
294,000
Additions
31,378
At 30 June 2024
325,378
Wyatt Investments Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
4
Investment property (continued)
7

Investment property comprises of Unit C, Anglebury Business Park, Wareham, Dorset, BH20 4DY. The fair value of the investment property has been arrived at on the basis of a valuation carried out by the director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
350
440
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
13,000
13,000
Corporation tax
7,026
5,333
Other creditors
41,104
27,850
61,130
46,183
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
195,250
208,250
Other creditors
-
0
17,000
195,250
225,250

The bank loan is repayable by instalments with a final repayment due 7 years after drawdown. Interest is payable at a rate of 3% above SONIA per annum. The loan is secured by a first legal charge over the company's freehold property.

 

8
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
100

Each ordinary share has full voting, dividend and capital distribution (including winding up) rights but does not confer and rights of redemption.

Wyatt Investments Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
8
9
Operating lease commitments
Lessor

At the reporting end date the company had contracted with its tenant, a company under the common control of the director, for future minimum lease payments totalling £154,167 (2023: £5,000). Operating lease rent is at a market rate.

10
Related party transactions

Rent of £50,000 was received in the year (2023: £30,000) from a related party.

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