REGISTERED NUMBER: 03240364 (England and Wales)

WYNWEST LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M R Weston Smith

Mrs J A Weston Smith

SECRETARY:

M R Weston Smith

REGISTERED OFFICE:

Chartley House

Rising Lane

Knowle

Solihull

West Midlands

B93 0DB

REGISTERED NUMBER:

03240364 (England and Wales)

ACCOUNTANTS:

Charles Lovell & Co Limited

Chartered Certified Accountants

and Statutory Auditors

8 Church Green East

Redditch

Worcestershire

B98 8BP

FIXED ASSETS

Investments

4

2,882,838

1,856,985

Investment property

5

1,250,240

1,250,240

4,133,078

3,107,225

CURRENT ASSETS

Debtors

6

3,828,659

7,613,305

Cash at bank

3,418,478

227,038

7,247,137

7,840,343

CREDITORS

Amounts falling due within one year

7

239,711

224,891

NET CURRENT ASSETS

7,007,426

7,615,452

TOTAL ASSETS LESS CURRENT LIABILITIES

11,140,504

10,722,677

PROVISIONS FOR LIABILITIES

8

238,730

228,617

NET ASSETS

10,901,774

10,494,060

CAPITAL AND RESERVES

Called up share capital

9

235,835

235,835

Share premium

10

1,508,892

1,508,892

Retained earnings

10

9,157,047

8,749,333

SHAREHOLDERS' FUNDS

10,901,774

10,494,060

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 September 2025 and were signed on its behalf by:

M R Weston Smith - Director

1.	STATUTORY INFORMATION

Wynwest Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents rents receivable, excluding value added tax.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit and loss account.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Listed investments

Listed investments are stated at fair value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

Listed

undertakings

investments

Totals

£

£

£

COST OR VALUATION

At 1 January 2024

4,650

1,856,984

1,861,634

Additions

-

985,400

985,400

Revaluations

-

40,453

40,453

At 31 December 2024

4,650

2,882,837

2,887,487

PROVISIONS

At 1 January 2024

and 31 December 2024

4,649

-

4,649

NET BOOK VALUE

At 31 December 2024

1

2,882,837

2,882,838

At 31 December 2023

1

1,856,984

1,856,985

Cost or valuation at 31 December 2024 is represented by:

Shares in

group

Listed

undertakings

investments

Totals

£

£

£

Valuation in 2024

-

406,122

406,122

Cost

4,650

2,476,715

2,481,365

4,650

2,882,837

2,887,487

If fixed asset investments had not been revalued they would have been included at the following historical cost:

31.12.24

31.12.23

£

£

Cost

2,481,365

1,495,965

Aggregate provisions

(4,649

)

(4,649

)

Fixed asset investments were valued on an open market basis on 31 December 2024.

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Redbow limited

Registered office: United Kingdom

Nature of business: Dormant

%

Class of shares:

holding

Ordinary £1

100.00

31.12.24

31.12.23

£

£

Aggregate capital and reserves

2,559

2,559

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

1,250,240

NET BOOK VALUE

At 31 December 2024

1,250,240

At 31 December 2023

1,250,240

Fair value at 31 December 2024 is represented by:

£

Valuation in 2024

548,798

Cost

701,442

1,250,240

If investment property had not been revalued it would have been included at the following historical cost:

31.12.24

31.12.23

£

£

Cost

701,442

701,442

Investment property was valued on an open market basis on 31 December 2019 by Paarl Property Consultants .

The directors' opinion is that the value at 31 December 2024 would not have changed significantly.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Amounts owed by group undertakings

3,820,000

3,850,000

Other debtors

-

3,600,000

Prepayments & accrued income

8,659

163,305

3,828,659

7,613,305

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Amounts owed to group undertakings

2,559

2,559

Tax

93,967

79,305

Accruals & deferred income

143,185

143,027

239,711

224,891

8.	PROVISIONS FOR LIABILITIES

31.12.24

31.12.23

£

£

Deferred tax

238,730

228,617

Deferred

tax

£

Balance at 1 January 2024

228,617

Charge to Income Statement during year

10,113

Balance at 31 December 2024

238,730

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

235,835

Ordinary

£1

235,835

235,835

10.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1 January 2024

8,749,333

1,508,892

10,258,225

Profit for the year

407,714

407,714

At 31 December 2024

9,157,047

1,508,892

10,665,939

11.	RELATED PARTY DISCLOSURES

At the balance sheet date, the Company was owed £3,820,000 (2023: £3,850,000)

from Wynwest Holdings Limited. The loan was unsecured and repayable on demand.

At the balance sheet date, the company was owed £Nil (2023: £3,600,000) from Weston Smith Holdings Limited. The loan was unsecured and repayable on demand. Interest on the loan of £52,182 was received during the year.

Weston Smith Holdings is a related company under the control of M R Weston Smith.

12.	ULTIMATE CONTROLLING PARTY

The controlling party is Wynwest Holdings Limited.

The ultimate controlling party is M R Weston Smith.