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COMPANY REGISTRATION NUMBER: 05135510
Wilkins Vardy Residential Limited
Filleted Unaudited Abridged Financial Statements
31 December 2024
Wilkins Vardy Residential Limited
Abridged Financial Statements
Year Ended 31 December 2024
Contents
Page
Abridged statement of financial position
1
Statement of changes in equity
3
Notes to the abridged financial statements
4
Wilkins Vardy Residential Limited
Abridged Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
£
Fixed Assets
Intangible assets
5
100,000
120,000
Tangible assets
6
23,328
26,001
---------
---------
123,328
146,001
Current Assets
Debtors
65,046
117,040
Cash at bank and in hand
893
36,357
--------
---------
65,939
153,397
Creditors: amounts falling due within one year
120,316
128,720
---------
---------
Net Current (Liabilities)/Assets
( 54,377)
24,677
---------
---------
Total Assets Less Current Liabilities
68,951
170,678
Provisions
5,632
--------
---------
Net Assets
63,319
170,678
--------
---------
Capital and Reserves
Called up share capital
7
2,333
2,333
Share premium account
49,778
49,778
Other reserves
111
111
Profit and loss account
11,097
118,456
--------
---------
Shareholders Funds
63,319
170,678
--------
---------
These abridged 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 abridged statement of comprehensive income has not been delivered.
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 abridged 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 abridged financial statements .
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.
Wilkins Vardy Residential Limited
Abridged Statement of Financial Position (continued)
31 December 2024
These abridged financial statements were approved by the board of directors and authorised for issue on 16 July 2025 , and are signed on behalf of the board by:
Mr D Elliott
Mrs P Towndrow
Director
Director
Company registration number: 05135510
Wilkins Vardy Residential Limited
Statement of Changes in Equity
Year Ended 31 December 2024
Called up share capital
Share premium account
Capital redemption reserve
Profit and loss account
Total
£
£
£
£
£
At 1 January 2023
2,333
49,778
111
52,172
104,394
Profit for the year
135,116
135,116
-------
--------
----
---------
---------
Total Comprehensive Income for the Year
135,116
135,116
Dividends paid and payable
( 68,832)
( 68,832)
-------
--------
----
---------
---------
Total Investments by and Distributions to Owners
( 68,832)
( 68,832)
At 31 December 2023
2,333
49,778
111
118,456
170,678
Profit for the year
37,866
37,866
-------
--------
----
---------
---------
Total Comprehensive Income for the Year
37,866
37,866
Dividends paid and payable
( 145,225)
( 145,225)
----
----
----
---------
---------
Total Investments by and Distributions to Owners
( 145,225)
( 145,225)
-------
--------
----
---------
---------
At 31 December 2024
2,333
49,778
111
11,097
63,319
-------
--------
----
---------
---------
Wilkins Vardy Residential Limited
Notes to the Abridged Financial Statements
Year Ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 23 Glumangate, Chesterfield, Derbyshire, S40 1TX.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents fees and commissions earned, net of Value Added Tax.
Income tax
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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 20 years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit and loss.
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:
Leasehold Improvements
-
20% straight line
Fixtures and fittings
-
20% reducing balance
Plant and equipment
-
20% straight line
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 13 (2023: 18 ).
5. Intangible assets
£
Cost
At 1 January 2024 and 31 December 2024
400,000
---------
Amortisation
At 1 January 2024
280,000
Charge for the year
20,000
---------
At 31 December 2024
300,000
---------
Carrying amount
At 31 December 2024
100,000
---------
At 31 December 2023
120,000
---------
6. Tangible assets
£
Cost
At 1 January 2024
120,229
Additions
3,416
---------
At 31 December 2024
123,645
---------
Depreciation
At 1 January 2024
94,228
Charge for the year
6,089
---------
At 31 December 2024
100,317
---------
Carrying amount
At 31 December 2024
23,328
---------
At 31 December 2023
26,001
---------
7. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary A shares of £ 1 each
2,000
2,000
2,000
2,000
Ordinary C shares of £ 1 each
233
233
233
233
Ordinary D shares of £ 1 each
100
100
100
100
-------
-------
-------
-------
2,333
2,333
2,333
2,333
-------
-------
-------
-------
8. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
48,724
37,858
Later than 1 year and not later than 5 years
42,757
55,745
--------
--------
91,481
93,603
--------
--------
9. Directors' advances, credits and guarantees
During the year, the directors entered into the following advances and credits with the company:
B/F Repaid Advanced C/F
£ £ £ £
Mr D Elliott (27,969) 60,902 (44,650) (11,716)
Mrs P Towndrow (19,971) 50,525 (40,131) (9,577)