Registered number
06053018
WING ESTATES LIMITED
Unaudited Filleted Accounts
31 January 2025
WING ESTATES LIMITED
Company Information
Directors
Mr W Gimmack
Mrs G Gimmack
Secretary
Mrs G Gimmack
Accountants
Key Business Consultants LLP
13 Whitchurch Lane
Edgware
HA8 6JZ
Bankers
Natwest
Registered office
13 Whitchurch Lane
Edgware
HA8 6JZ
Registered number
06053018
WING ESTATES LIMITED
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of WING ESTATES LIMITED for the year ended 31 January 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of WING ESTATES LIMITED for the year ended 31 January 2025 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
www.icaew.com/en/members/regulations-standards-and-guidance
Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF.
Key Business Consultants LLP
Chartered Accountants
13 Whitchurch Lane
Edgware
HA8 6JZ
11 May 2025
WING ESTATES LIMITED
Registered number: 06053018
Balance Sheet
as at 31 January 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 687,527 686,153
Current assets
Debtors 4 2,183 1,596
Cash at bank and in hand 243,265 249,938
245,448 251,534
Creditors: amounts falling due within one year 5 (7,721) (17,810)
Net current assets 237,727 233,724
Total assets less current liabilities 925,254 919,877
Creditors: amounts falling due after more than one year 6 (11,000) (11,000)
Provisions for liabilities (126,634) (126,373)
Net assets 787,620 782,504
Capital and reserves
Called up share capital 1,000 1,000
Other reserves 21,032 21,032
Revaluation reserve 7 663,968 663,968
Profit and loss account 101,620 96,504
Shareholders' funds 787,620 782,504
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr W Gimmack
Director
Approved by the board on 11 May 2025
WING ESTATES LIMITED
Notes to the Accounts
for the year ended 31 January 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land and building No depreciation
Computer equipment 33% on cost
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
1 Accounting policies (cont'd)
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 February 2024 685,000 3,346 688,346
Additions - 1,875 1,875
At 31 January 2025 685,000 5,221 690,221
Depreciation
At 1 February 2024 - 2,193 2,193
Charge for the year - 501 501
At 31 January 2025 - 2,694 2,694
Net book value
At 31 January 2025 685,000 2,527 687,527
At 31 January 2024 685,000 1,153 686,153
Freehold land and buildings: 2025 2024
£ £
Historical cost 21,032 21,032
Cumulative depreciation based on historical cost 7,572 7,151
13,460 13,881
Revaluation 2016 £618,968
Revaluation 2017 £45,000
Cost £21,032
4 Debtors 2025 2024
£ £
Other debtors 2,183 1,596
5 Creditors: amounts falling due within one year 2025 2024
£ £
Trade creditors 1,902 1,902
Taxation and social security costs 1,939 5,622
Other creditors 3,880 10,286
7,721 17,810
6 Creditors: amounts falling due after one year 2025 2024
£ £
Other creditors 11,000 11,000
7 Revaluation reserve 2025 2024
£ £
At 1 February 2024 663,968 663,968
At 31 January 2025 663,968 663,968
8 Related party transactions
At the year end, Mr W Gimmack was owed by the company £3,487 (2024: £10,094).
9 Controlling party
The ultimate controlling party throughout the year were the shareholders equally.
10 Other information
WING ESTATES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
13 Whitchurch Lane
Edgware
HA8 6JZ
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