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REGISTERED NUMBER: 02038498 (England and Wales)















WYNGATE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024






WYNGATE LIMITED (REGISTERED NUMBER: 02038498)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


WYNGATE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTOR: E Robinson Jnr



SECRETARY: E Robinson Jnr



REGISTERED OFFICE: 59a Victoria Road
Mablethorpe
Lincolnshire
LN12 2AF



REGISTERED NUMBER: 02038498 (England and Wales)



ACCOUNTANTS: Duncan & Toplis Limited
27-29 Lumley Avenue
Skegness
Lincolnshire
PE25 2AT



BANKERS: Santander
Bridle Road
Bootle
Merseyside
L30 4GB

WYNGATE LIMITED (REGISTERED NUMBER: 02038498)

STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 47 63
Investment property 5 143,933 143,933
143,980 143,996

CURRENT ASSETS
Debtors 6 297,330 302,247

CREDITORS
Amounts falling due within one year 7 28,439 34,349
NET CURRENT ASSETS 268,891 267,898
TOTAL ASSETS LESS CURRENT LIABILITIES 412,871 411,894

PROVISIONS FOR LIABILITIES 5,642 5,645
NET ASSETS 407,229 406,249

CAPITAL AND RESERVES
Called up share capital 8 83 83
Fair value reserve 9 29,646 29,646
Capital redemption reserve 17 17
Retained earnings 377,483 376,503
SHAREHOLDERS' FUNDS 407,229 406,249

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved and authorised for issue by the director and authorised for issue on 27 February 2025 and were signed by:





E Robinson Jnr - Director


WYNGATE LIMITED (REGISTERED NUMBER: 02038498)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Wyngate 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Tangible fixed assets are held at cost less depreciation.

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.

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

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. Accounts 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.


WYNGATE LIMITED (REGISTERED NUMBER: 02038498)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 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 statement of financial position 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023
and 30 September 2024 8,689
DEPRECIATION
At 1 October 2023 8,626
Charge for year 16
At 30 September 2024 8,642
NET BOOK VALUE
At 30 September 2024 47
At 30 September 2023 63

5. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 October 2023
and 30 September 2024 143,933
NET BOOK VALUE
At 30 September 2024 143,933
At 30 September 2023 143,933

Cost or valuation at 30 September 2024 is represented by:
£   
Valuation in 2024 29,646
Cost 114,287
143,933

WYNGATE LIMITED (REGISTERED NUMBER: 02038498)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5. INVESTMENT PROPERTY - continued

If investment property had not been revalued it would have been included at the following historical cost:

30.9.24 30.9.23
£    £   
Cost 114,287 114,287

Investment property was valued on an open market basis on 30 September 2024 by the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Other debtors 297,330 302,247

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade creditors - 7,140
Taxation and social security 2,817 1,754
Other creditors 25,622 25,455
28,439 34,349

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
26 A Ordinary £1 26 26
57 B Ordinary £1 57 57
83 83

9. RESERVES
Fair
value
reserve
£   
At 1 October 2023
and 30 September 2024 29,646

10. RELATED PARTY DISCLOSURES

The director has provided the company with an interest free loan totalling £4,062 (2023 £4,062).