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Registered number: 11621928
Wealth In Property Ltd
Directors' Report and
Unaudited Abridged Financial Statements
For The Year Ended 31 October 2024
Contents
Page
Company Information 1
Directors' Report 2
Profit and Loss Account 3
Balance Sheet 4
Notes to the Financial Statements 5—6
Page 1
Company Information
Directors Mr Ahmed Hussain
Mr Harjhot Thind
Company Number 11621928
Registered Office 288a Hamstead Road
Handsworth
Birmingham
B20 2RB
Accountants Gorilla Accounting
Belmont Suite Paragon Business Park
Chorley New Road, Horwich
Bolton
BL6 6HG
Page 1
Page 2
Directors' Report
The directors present their report and the financial statements for the year ended 31 October 2024.
Directors
The directors who held office during the year were as follows:
Mr Ahmed Hussain
Mr Harjhot Thind
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to: 
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Rules
This report has 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.
On behalf of the board
Mr Ahmed Hussain
Director
05/09/2025
Page 2
Page 3
Profit and Loss Account
2024 2023
Notes £ £
TURNOVER 259,253 188,966
Cost of sales (16,375 ) (4,200 )
GROSS PROFIT 242,878 184,766
Distribution costs (67,709 ) (38,354 )
Administrative expenses (91,382 ) (84,754 )
OPERATING PROFIT 83,787 61,658
Other interest receivable and similar income 1,643 18
Interest payable and similar charges (139,072 ) (120,486 )
LOSS FOR THE FINANCIAL YEAR (53,642 ) (58,810 )
The notes on pages 5 to 6 form part of these financial statements.
Page 3
Page 4
Balance Sheet
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 3,483,904 3,383,438
3,483,904 3,383,438
CURRENT ASSETS
Debtors 5 1,500 1,882
Cash at bank and in hand 1,553 39,699
3,053 41,581
Creditors: Amounts Falling Due Within One Year 6 (25,551 ) (64,176 )
NET CURRENT ASSETS (LIABILITIES) (22,498 ) (22,595 )
TOTAL ASSETS LESS CURRENT LIABILITIES 3,461,406 3,360,843
Creditors: Amounts Falling Due After More Than One Year 7 (2,751,860 ) (2,597,656 )
NET ASSETS 709,546 763,187
CAPITAL AND RESERVES
Called up share capital 8 2 2
Revaluation reserve 9 940,787 940,787
Profit and Loss Account (231,243 ) (177,602 )
SHAREHOLDERS' FUNDS 709,546 763,187
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
On behalf of the board
Mr Ahmed Hussain
Director
05/09/2025
The notes on pages 5 to 6 form part of these financial statements.
Page 4
Page 5
Notes to the Financial Statements
1. General Information
Wealth In Property Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11621928 . The registered office is 288a Hamstead Road, Handsworth, Birmingham, B20 2RB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Investment Property
2024
£
Fair Value
As at 1 November 2023 3,383,438
Additions 100,466
As at 31 October 2024 3,483,904
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 1,500 1,882
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors (1 ) -
Other creditors 24,345 63,238
Taxation and social security 1,207 938
25,551 64,176
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Page 6
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors 2,751,860 2,597,656
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
9. Reserves
Revaluation Reserve
£
As at 1 November 2023 940,787
As at 31 October 2024 940,787
Page 6