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Registration number: 14427361

Prepared for the registrar

London & Wiltshire No.1 Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2024

 

London & Wiltshire No.1 Ltd

(Registration number: 14427361)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Current assets

 

Investments

4

2,331,380

2,036,992

Cash at bank and in hand

 

34,600

30,407

 

2,365,980

2,067,399

Creditors: Amounts falling due within one year

5

(2,011,286)

(2,005,400)

Net assets

 

354,694

61,999

Capital and reserves

 

Called up share capital

1

1

Retained earnings

354,693

61,998

Shareholders' funds

 

354,694

61,999

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

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 3 June 2025
 


R C Tanner
Director

 

London & Wiltshire No.1 Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 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:
Park Farm
Yatton Keynell
Chippenham
Wiltshire
SN14 7LA
United Kingdom

 

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 for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Judgements

No significant judgements have been made by management in preparing these financial statements.

Tax

The tax expense for the period comprises current tax. Tax is recognised in the profit and loss account, except that a charge 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.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in the profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

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.

 

London & Wiltshire No.1 Ltd

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

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

4

Current asset investments

2024
£

2023
£

Other investments

2,331,380

2,036,992

Current asset investments represents an investment fund held at market rate. The cost of the investment was £2,008,721. At the balance sheet date the fund was revalued to £2,331,380 with £283,007 being recognised as a fair value movement to the profit and loss in accordance with the provision of FRS102.

 

5

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

6

2,003,724

2,000,453

Taxation and social security

 

442

347

Accruals and deferred income

 

7,120

4,600

 

2,011,286

2,005,400

 

London & Wiltshire No.1 Ltd

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

 

6

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Director's loan account

2,003,724

2,000,453

 

7

Related party transactions

At 30 September 2024, the company owed £2,003,724 (2023: £2,000,453) to R C Tanner in the form of a director's loan account. The loan is unsecured, repayable on demand and no interest was charged in the year.