2 2 Wyn Properties Cardiff Limited 11687781 false 2023-12-01 2024-11-30 2024-11-30 The principal activity of the company is that of a property investment company. Digita Accounts Production Advanced 6.30.9574.0 true true 11687781 2023-12-01 2024-11-30 11687781 2024-11-30 11687781 bus:OrdinaryShareClass1 2024-11-30 11687781 core:CurrentFinancialInstruments 2024-11-30 11687781 core:CurrentFinancialInstruments core:WithinOneYear 2024-11-30 11687781 core:Non-currentFinancialInstruments 2024-11-30 11687781 core:Non-currentFinancialInstruments core:AfterOneYear 2024-11-30 11687781 bus:SmallEntities 2023-12-01 2024-11-30 11687781 bus:AuditExemptWithAccountantsReport 2023-12-01 2024-11-30 11687781 bus:FilletedAccounts 2023-12-01 2024-11-30 11687781 bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 11687781 bus:RegisteredOffice 2023-12-01 2024-11-30 11687781 bus:Director1 2023-12-01 2024-11-30 11687781 bus:Director2 2023-12-01 2024-11-30 11687781 bus:OrdinaryShareClass1 2023-12-01 2024-11-30 11687781 bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 11687781 bus:Agent1 2023-12-01 2024-11-30 11687781 countries:EnglandWales 2023-12-01 2024-11-30 11687781 2023-11-30 11687781 2022-12-01 2023-11-30 11687781 2023-11-30 11687781 bus:OrdinaryShareClass1 2023-11-30 11687781 core:CurrentFinancialInstruments 2023-11-30 11687781 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 11687781 core:Non-currentFinancialInstruments 2023-11-30 11687781 core:Non-currentFinancialInstruments core:AfterOneYear 2023-11-30 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 11687781

Wyn Properties Cardiff Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

Wyn Properties Cardiff Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Wyn Properties Cardiff Limited

Company Information

Directors

Mr P E Parry

Ms S W Roberts

Registered office

76 Plasturton Avenue
Cardiff
CF11 9HJ

Accountants

Michaelides Warner & Co 102 Fulham Palace Road
London
W6 9PL

 

Wyn Properties Cardiff Limited

(Registration number: 11687781)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

1,661,545

952,647

Current assets

 

Debtors

5

75,838

75,809

Cash at bank and in hand

 

1,991

8

 

77,829

75,817

Creditors: Amounts falling due within one year

6

(884,568)

(185,808)

Net current liabilities

 

(806,739)

(109,991)

Total assets less current liabilities

 

854,806

842,656

Creditors: Amounts falling due after more than one year

6

(817,775)

(823,089)

Net assets

 

37,031

19,567

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

37,029

19,565

Shareholders' funds

 

37,031

19,567

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 2 May 2025 and signed on its behalf by:

.........................................

Mr P E Parry
Director

 

Wyn Properties Cardiff Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
76 Plasturton Avenue
Cardiff
CF11 9HJ
Wales

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Judgements

The directors consider that there are no key judgements that management have made in the process of applying the company’s accounting policies and that may have had a significant effect on the amounts recognised in the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Wyn Properties Cardiff Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Wyn Properties Cardiff Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Trade creditors

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the teporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and susequently measured at amortised cost using the effective interest method.

 

Wyn Properties Cardiff Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in the interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlesment of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company's shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments

Classification
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like investments, trade and other receivables, cash and bank balances, trade and other creditors.

Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or cash consolidation expected to be paid or received.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Investment properties

2024
£

At 1 December

952,647

Additions

708,898

At 30 November

1,661,545

 

Wyn Properties Cardiff Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

There has been no valuation of investment property by an independent valuer.

5

Debtors

Current

2024
£

2023
£

Other debtors

75,838

75,809

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

5,315

5,315

Trade creditors

 

124

97

Taxation and social security

 

4,096

2,976

Accruals and deferred income

 

327,244

159,257

Other creditors

 

547,789

18,163

 

884,568

185,808

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

817,775

823,089

 

Wyn Properties Cardiff Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

27,608

32,922

Other borrowings

790,167

790,167

817,775

823,089

Current loans and borrowings

2024
£

2023
£

Bank borrowings

5,315

5,315

9

Related party transactions

Included in Other Creditors are amounts owed to the directors of £547,360 (2023: 4,518).