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Company registration number: 04616855
Wilkins Properties (York) Limited
Unaudited filleted financial statements
31 December 2024
THE BARKER PARTNERSHIP
Chartered Accountants
Thirsk
Wilkins Properties (York) Limited
Contents
Directors and other information
Accountants report
Balance sheet
Notes to the financial statements
Wilkins Properties (York) Limited
Directors and other information
Directors Mrs D K Kane
Mrs S E Heath- Wilkins
Mr S R Brooks
Mrs V A Dale
Secretary V A Dale
Company number 04616855
Registered office 17 Central Buildings
Market Place
Thirsk
North Yorkshire
YO7 1HD
Accountants The Barker Partnership
17 Central Buildings
Market Place
Thirsk
North Yorkshire
YO7 1HD
Wilkins Properties (York) Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Wilkins Properties (York) Limited
Year ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Wilkins Properties (York) Limited for the year ended 31 December 2024 which comprise the Balance sheet and 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Wilkins Properties (York) Limited, as a body, in accordance with the terms of our engagement letter dated 29 April 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Wilkins Properties (York) Limited and state those matters that we have agreed to state to the board of directors of Wilkins Properties (York) Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Wilkins Properties (York) Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Wilkins Properties (York) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Wilkins Properties (York) Limited. You consider that Wilkins Properties (York) Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Wilkins Properties (York) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
The Barker Partnership
Chartered Accountants
17 Central Buildings
Market Place
Thirsk
North Yorkshire
YO7 1HD
2 May 2025
Wilkins Properties (York) Limited
Balance sheet
31 December 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 4 565,000 565,000
_______ _______
565,000 565,000
Current assets
Debtors 5 688 777
Cash at bank and in hand 46,686 80,734
_______ _______
47,374 81,511
Creditors: amounts falling due
within one year 6 ( 103,440) ( 142,938)
_______ _______
Net current liabilities ( 56,066) ( 61,427)
_______ _______
Total assets less current liabilities 508,934 503,573
_______ _______
Net assets 508,934 503,573
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 508,834 503,473
_______ _______
Shareholders funds 508,934 503,573
_______ _______
For the 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:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 02 May 2025 , and are signed on behalf of the board by:
Mrs V A Dale
Director
Company registration number: 04616855
Wilkins Properties (York) Limited
Notes to the financial statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 17 Central Buildings, Market Place, Thirsk, North Yorkshire, YO7 1HD. The principal activity of the company is the owning and letting of residential properties.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Investment property
Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
4. Tangible assets
Investment property Total
£ £
Cost
At 1 January 2024 and 31 December 2024 565,000 565,000
_______ _______
Depreciation
At 1 January 2024 and 31 December 2024 - -
_______ _______
Carrying amount
At 31 December 2024 565,000 565,000
_______ _______
At 31 December 2023 565,000 565,000
_______ _______
The whole of the freehold property included above relates to investment properties which are held for operating lease purposes. In accordance with FRS 102 the investment properties are revalued annually and the aggregate surplus or deficit recognised in the profit and loss account. The fair value of the investment properties has been arrived at on an open market value basis by the directors having reference to market evidence and on advice received from a local Estate Agent.
5. Debtors
2024 2023
£ £
Other debtors 688 777
_______ _______
6. Creditors: amounts falling due within one year
2024 2023
£ £
Corporation tax 3,134 2,942
Other creditors 100,306 139,996
_______ _______
103,440 142,938
_______ _______
7. Related party transactions
The directors of the company who are also the shareholders of the company, have made interest free, unsecured loans with no fixed repayment terms to the company. The total of these loans as at 31 December 2024 was £97,536 (2023 - £137,346).