REGISTERED NUMBER: 03729616 (England and Wales)

WIGMORE ESTATE AGENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C R Peerless

J E Borrows

SECRETARY:

Barbican Services Limited

REGISTERED OFFICE:

69-71 East Street

Epsom

Surrey

KT17 1BP

REGISTERED NUMBER:

03729616 (England and Wales)

ACCOUNTANTS:

Hakim Fry

Chartered Accountants

69-71 East Street

Epsom

Surrey

KT17 1BP

BANKERS:

Barclays Bank Plc

North East London Business Centre

PO Box 16294

1-2 Trinity Way

London

E4 8US

SOLICITORS:

Nicholas & Co

18/22 Wigmore Street

London

W1U 2RG

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

1,032

1,375

Investments

7

1

1

1,033

1,376

CURRENT ASSETS

Debtors

8

43,188

44,482

Cash at bank and in hand

333,666

352,653

376,854

397,135

CREDITORS

Amounts falling due within one year

9

632,341

643,453

NET CURRENT LIABILITIES

(255,487

)

(246,318

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(254,454

)

(244,942

)

CREDITORS

Amounts falling due after more than one year

10

(28,573

)

(54,765

)

PROVISIONS FOR LIABILITIES

(258

)

(60

)

NET LIABILITIES

(283,285

)

(299,767

)

CAPITAL AND RESERVES

Called up share capital

500

500

Retained earnings

(283,785

)

(300,267

)

SHAREHOLDERS' FUNDS

(283,285

)

(299,767

)

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 24 September 2025 and were signed on its behalf by:

C R Peerless - Director

1.	STATUTORY INFORMATION

Wigmore Estate Agents 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention, except for certain financial instruments that have been measured at fair value.

Turnover

Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any any accumulated impairment losses.

Franchise costs are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Equipment

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Financial instruments

A financial asset or financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financial transaction, where it is recognised at the present value of the future payments discounted at a market rate for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Hire purchase and leasing commitments

Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

The financial statements have been prepared on the assumption that the directors will continue to provide sufficient funds for at least another 12 months from the date of signing the report, which have been indicated, not withstanding that it will cease to operate it's franchise from November 2025.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

5.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

and 31 December 2024

214,294

AMORTISATION

At 1 January 2024

and 31 December 2024

214,294

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

6.	TANGIBLE FIXED ASSETS

Fixtures

and

Equipment

fittings

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

42,829

5,890

48,719

DEPRECIATION

At 1 January 2024

41,717

5,627

47,344

Charge for year

278

65

343

At 31 December 2024

41,995

5,692

47,687

NET BOOK VALUE

At 31 December 2024

834

198

1,032

At 31 December 2023

1,112

263

1,375

7.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2024

13,600

Additions

3,000

Disposals

(3,000

)

At 31 December 2024

13,600

PROVISIONS

At 1 January 2024

and 31 December 2024

13,599

NET BOOK VALUE

At 31 December 2024

1

At 31 December 2023

1

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

19,759

15,397

Other debtors

23,429

29,085

43,188

44,482

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

24,044

22,451

Taxation and social security

20,528

18,115

Other creditors

587,769

602,887

632,341

643,453

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Other creditors

28,573

54,765

Amounts falling due in more than five years:

Repayable by instalments

Other loans more 5yrs instal

3,506

8,836

11.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

£

£

Within one year

64,000

64,000

Between one and five years

256,000

256,000

In more than five years

128,000

192,000

448,000

512,000

12.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Franchisor loan

21,429

41,721

The Company has a fixed & floating legal charge over its property and undertaking in respect of Winkworth Franchising Ltd.

13.	CONTINGENT LIABILITIES

There is a charge under the rent deposit deed for the security deposit and any amounts added to it from time to time including any accrued interest thereon in favour of Mr A Nicholas and Mrs T Kendall.

14.	RELATED PARTY DISCLOSURES

A Director has provided personal guarantees to the Landlord of the Company's rental property if they are unable to make payments. The guarantee is to continue until the end of the term, or until the Company is released from the tenant covenants of the lease by virtue of the Landlord and Tenant Covenants Act 1995, if earlier.

A Directors has provided Barclays Bank a personal guarantee for £60,000 in respect of the bank overdraft and loan facilities provided by them.

In addition, to the above there were some interest free loans repayable on demand made from Beamray Limited, a company which shares the same Director, to the Company. At the balance sheet date, the amount outstanding totalled £44,142 (2023: £55,022).

The Company also maintains an interest free loan account, which is repayable on demand, for the Directors. At the year end, the Directors were owed £74,430 (2023: £74,430).

The company purchased a new franchise territory and borrowed £214,294 from its Franchisor on an interest free basis to be paid over a 10 year term ending in 2025.