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Registration number: 13817439

Wigwam Homes Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

Wigwam Homes Ltd

(Registration number: 13817439)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,285

1,850

Investment property

5

3,099,116

2,642,428

 

3,100,401

2,644,278

Current assets

 

Debtors

6

4,244

845

Cash at bank and in hand

 

7,369

22,823

 

11,613

23,668

Creditors: Amounts falling due within one year

7

(1,408,405)

(1,423,386)

Net current liabilities

 

(1,396,792)

(1,399,718)

Total assets less current liabilities

 

1,703,609

1,244,560

Creditors: Amounts falling due after more than one year

7

(1,253,237)

(1,247,356)

Provisions for liabilities

(113,573)

(281)

Net assets/(liabilities)

 

336,799

(3,077)

Capital and reserves

 

Called up share capital

8

280

280

Other reserves

342,516

-

Profit and loss account

(5,997)

(3,357)

Shareholders' funds/(deficit)

 

336,799

(3,077)

 

Wigwam Homes Ltd

(Registration number: 13817439)
Balance Sheet as at 30 November 2024

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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 11 April 2025 and signed on its behalf by:
 



 

Mr Christopher Myles Roberts
Director



 

Mrs Helena Christine Roberts
Director

 

Wigwam Homes Ltd

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:
1st Floor Woburn House
84 St Benedicts Street
Norwich
Norfolk
NR2 4AB

2

Accounting policies

Basis of preparation

These financial statements have been prepared using the historical cost convention in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

The presentation currency is sterling.

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.

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

Revenue recognition
Turnover comprises rental income received or receivable in the ordinary course of the company's activities.

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

Tax policies

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated at cost, less any subsequent accumulated depreciation and accumulated impairment losses.

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

 

Wigwam Homes Ltd

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

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and equipment

25% straight line

Investment property

Investment property is measured at fair value at each reporting date with changes in fair value recognised in the profit and loss account.

Cash
Cash comprises cash on hand and all deposits.

Debtors
Debtors are amounts due from tenants and letting agents for rent receivable and other associated letting fees in the ordinary course of the business.

Debtors are recognised at the transaction price. 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.

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 interest payable and similar charges.

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

3

Staff numbers

The average number of persons employed by the company during the year was 0 (2023 - 0).

4

Tangible assets

Plant and equipment
 £

Total
£

Cost

At 1 December 2023

2,261

2,261

At 30 November 2024

2,261

2,261

Depreciation

At 1 December 2023

411

411

Charge for the year

565

565

At 30 November 2024

976

976

Net book value

At 30 November 2024

1,285

1,285

At 30 November 2023

1,850

1,850

 

Wigwam Homes Ltd

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

5

Investment property

2024
£

2023
£

At 1 December

2,642,428

-

Additions

-

3,394,285

Disposals

-

(751,857)

Fair value adjustments

456,688

-

At 30 November

3,099,116

2,642,428

The properties were valued by the directors at their market value using current market data for similar properties in the same areas.

6

Debtors

2024
£

2023
£

Debtors

3,644

845

Prepayments

600

-

4,244

845

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Trade creditors

86

-

Other creditors

11,799

7,042

Other loans

1,317,513

1,319,228

Accruals

79,007

97,116

1,408,405

1,423,386

Creditors: amounts falling due after more than one year

2024
£

2023
£

Bank loans

1,253,237

1,247,356

1,253,237

1,247,356

Creditors include bank loans which are secured against the assets they relate to by fixed charges and negative pledges of £1,253,237 (2023 - £1,247,356). Within this amount is £939,372 (2023 - ££1,104,131) which is repayable other than by installaments after more than five years.

 

Wigwam Homes Ltd

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

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary class A of £1 each

100

100

100

100

Ordinary class B of £1 each

100

100

100

100

Ordinary class C of £1 each

10

10

10

10

Ordinary class D of £1 each

10

10

10

10

Ordinary class E of £1 each

10

10

10

10

Ordinary class F of £1 each

10

10

10

10

Ordinary class G of £1 each

10

10

10

10

Ordinary class H of £1 each

10

10

10

10

Ordinary class I of £1 each

10

10

10

10

Ordinary class J of £1 each

10

10

10

10

 

280

280

280

280

9

Related party transactions

Directors’ loan

The directors provided the company with a loan on which interest was charged.