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Company No: 00708691 (England and Wales)

WUSKIN INVESTMENTS LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

WUSKIN INVESTMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

WUSKIN INVESTMENTS LIMITED

BALANCE SHEET

As at 31 December 2024
WUSKIN INVESTMENTS LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 226 497
Investment property 4 838,890 838,890
839,116 839,387
Current assets
Debtors 5 451,612 443,361
Cash at bank and in hand 45,054 34,385
496,666 477,746
Creditors: amounts falling due within one year 6 ( 88,471) ( 83,899)
Net current assets 408,195 393,847
Total assets less current liabilities 1,247,311 1,233,234
Provision for liabilities ( 79,000) ( 79,000)
Net assets 1,168,311 1,154,234
Capital and reserves
Called-up share capital 7 100 100
Revaluation reserve 631,892 631,892
Profit and loss account 536,319 522,242
Total shareholders' funds 1,168,311 1,154,234

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Wuskin Investments Limited (registered number: 00708691) were approved and authorised for issue by the Board of Directors on 17 April 2025. They were signed on its behalf by:

J H Russell
Director
J A Russell
Director
WUSKIN INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
WUSKIN INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Wuskin Investments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Taviton, Mount Tavy Road, Tavistock, PL19 9JL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover represents rental income.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Fixtures and fittings 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Government grants

A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 3

3. Tangible assets

Fixtures and fittings Total
£ £
Cost
At 01 January 2024 2,053 2,053
At 31 December 2024 2,053 2,053
Accumulated depreciation
At 01 January 2024 1,556 1,556
Charge for the financial year 271 271
At 31 December 2024 1,827 1,827
Net book value
At 31 December 2024 226 226
At 31 December 2023 497 497

4. Investment property

Investment property
£
Valuation
As at 01 January 2024 838,890
As at 31 December 2024 838,890

Valuation

The fair value of the investment property at 31 December 2024 has been arrived at on the basis of valuations carried out by external valuers having appropriate relevant professional qualifications and recent experience in the location and category of property being valued. The valuations performed which conform to the Valuations Standards of the Royal Institution of Chartered Surveyors and with the International Valuations Standards (IVS) 2013 were arrived at by reference to market evidence of transaction prices for similar properties.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

2024 2023
£ £
Historic cost 127,998 127,998

5. Debtors

2024 2023
£ £
Other debtors 451,612 443,361

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 71,050 71,050
Taxation and social security 7,210 2,733
Other creditors 10,211 10,116
88,471 83,899

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Related party transactions

Other related party transactions

2024 2023
£ £
At start of period 360,620 350,620

The company has lent funds to other related parties. There are no formal agreements regarding the loan and as a result it is classified as receivable within 1 year. No interest is accruing on the loan balance.