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COMPANY REGISTRATION NUMBER: 03313173
Willoughby Place Ltd
Filleted Unaudited Financial Statements
28 February 2025
Willoughby Place Ltd
Statement of Financial Position
28 February 2025
2025
2024
Note
£
£
£
Fixed assets
Tangible assets
5
3,723
3,723
Current assets
Debtors
6
209,686
203,375
Cash at bank and in hand
9,732
14,747
---------
---------
219,418
218,122
Creditors: amounts falling due within one year
7
25,092
19,853
---------
---------
Net current assets
194,326
198,269
---------
---------
Total assets less current liabilities
198,049
201,992
---------
---------
Net assets
198,049
201,992
---------
---------
Capital and reserves
Called up share capital
2
2
Profit and loss account
198,047
201,990
---------
---------
Shareholders funds
198,049
201,992
---------
---------
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 statement of income and retained earnings has not been delivered.
For the year ending 28 February 2025 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Willoughby Place Ltd
Statement of Financial Position (continued)
28 February 2025
These financial statements were approved by the board of directors and authorised for issue on 14 July 2025 , and are signed on behalf of the board by:
Ms G Costa
Director
Company registration number: 03313173
Willoughby Place Ltd
Notes to the Financial Statements
Year ended 28 February 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 32-34 Station Close, Potters Bar, Herts, EN6 1TL.
2. Statement of compliance
These 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, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or 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 property
-
25% straight line
Fixtures and Equipment
-
25% reducing balance
Impairment of fixed assets
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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Particulars of employees
The average number of persons employed by the company during the year amounted to 12 (2024: 11 ).
5. Tangible assets
Land and buildings
Fixtures and fittings
Total
£
£
£
Cost
At 1 March 2024 and 28 February 2025
68,743
5,563
74,306
--------
-------
--------
Depreciation
At 1 March 2024 and 28 February 2025
65,093
5,490
70,583
--------
-------
--------
Carrying amount
At 28 February 2025
3,650
73
3,723
--------
-------
--------
At 29 February 2024
3,650
73
3,723
--------
-------
--------
6. Debtors
2025
2024
£
£
Trade debtors
137,409
57,000
Amounts owed by group undertakings and undertakings in which the company has a participating interest
72,277
146,375
---------
---------
209,686
203,375
---------
---------
7. Creditors: amounts falling due within one year
2025
2024
£
£
Corporation tax
13,963
8,724
Other creditors
11,129
11,129
--------
--------
25,092
19,853
--------
--------
8. Related party transactions
The Director charged the company rent of £144,000 (2024:£135,000) with respect to properties let to the company.
9. Controlling party
The company was under the control of Ms G Costa throughout the current and previous year.