| REGISTERED NUMBER: |
| WISE HILL HOMES LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| REGISTERED NUMBER: |
| WISE HILL HOMES LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| WISE HILL HOMES LIMITED (REGISTERED NUMBER: 12317871) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 | to | 3 |
| Notes to the Financial Statements | 4 | to | 7 |
| WISE HILL HOMES LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 3rd Floor |
| Malborough House |
| 298 Regents Park Road |
| Finchley |
| London |
| N3 2SZ |
| WISE HILL HOMES LIMITED (REGISTERED NUMBER: 12317871) |
| STATEMENT OF FINANCIAL POSITION |
| 30 NOVEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Property, plant and equipment | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Fair value reserves | 11 |
| Retained earnings | 11 | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS |
| The director acknowledges her responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| WISE HILL HOMES LIMITED (REGISTERED NUMBER: 12317871) |
| STATEMENT OF FINANCIAL POSITION - continued |
| 30 NOVEMBER 2024 |
| The financial statements were approved by the director and authorised for issue on |
| WISE HILL HOMES LIMITED (REGISTERED NUMBER: 12317871) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Wise Hill Homes Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| The principal place of business is Unit 2a, 32-34 Station Close, Potters Bar, EN6 1TL |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents rents receivable from the letting of the company's investment properties and is recognised evenly over the lease term. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| Financial instruments |
| The company has chosen to adopt the FRS102 1A in respect of financial instruments. |
| Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. |
| At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement. |
| Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
| WISE HILL HOMES LIMITED (REGISTERED NUMBER: 12317871) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| 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. |
| Going concern |
| The accounts have been prepared on a going concern basis. The company is dependent on the continued support of its creditors. The director is satisfied that at the time of approval of these financial statements the company will continue in existence for the foreseeable future. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | PROPERTY, PLANT AND EQUIPMENT |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 December 2023 |
| and 30 November 2024 |
| DEPRECIATION |
| At 1 December 2023 |
| Charge for year |
| At 30 November 2024 |
| NET BOOK VALUE |
| At 30 November 2024 |
| At 30 November 2023 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 December 2023 |
| and 30 November 2024 |
| NET BOOK VALUE |
| At 30 November 2024 |
| At 30 November 2023 |
| WISE HILL HOMES LIMITED (REGISTERED NUMBER: 12317871) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 5. | INVESTMENT PROPERTY - continued |
| Fair value at 30 November 2024 is represented by: |
| £ |
| Valuation in 2023 | 2,670,000 |
| 2,670.000 |
| If investment property had not been revalued they would have been included at the following historical cost: |
| 2024 | 2023 |
| £ | £ |
| Cost | 1,992,583 | 1,992,583 |
| The director believes that the fair value of the investment property at 30 November 2024 has not changed. |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Bank loan repayable in over 5 |
| years |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| Bank loans are secured by fixed and floating charges over all property of the company. |
| WISE HILL HOMES LIMITED (REGISTERED NUMBER: 12317871) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary | 100 | 100 | 100 |
| 11. | RESERVES |
| Fair |
| Retained | value |
| earnings | reserves | Totals |
| £ | £ | £ |
| At 1 December 2023 | ( |
) | 479,576 |
| Profit for the year |
| Movement of fair value net of deferred taxation |
6,741 |
(6,741 |
) |
- |
| At 30 November 2024 | ( |
) | 498,668 |
| 12. | RELATED PARTY TRANSACTIONS |
| Included in other creditors is an amount of £347,748 (2023: £372,748) due to a company in which a member of the director's immediate family has an interest. |