Witt & Son Properties Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 05885579

WITT & SON PROPERTIES LIMITED

FILLETED FINANCIAL STATEMENTS

31 December 2024

WITT & SON PROPERTIES LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

CONTENTS	PAGE

Statement of financial position	1

Notes to the financial statements	3

WITT & SON PROPERTIES LIMITED

STATEMENT OF FINANCIAL POSITION

31 December 2024

	2024		2023
Note	£	£	£	£

FIXED ASSETS

Tangible assets	5		1,784,993		1,811,837

CURRENT ASSETS

Debtors	6	–		8,150

CREDITORS: amounts falling due within one year	7	1,607,774		1,626,817
		-------------		-------------
NET CURRENT LIABILITIES			1,607,774		1,618,667
			-------------		-------------
TOTAL ASSETS LESS CURRENT LIABILITIES			177,219		193,170

CREDITORS: amounts falling due after more than one year	8		90,317		123,709

PROVISIONS

Taxation including deferred tax	10	94,573	93,127
		----------	----------
NET LIABILITIES		( 7,671)	( 23,666)
		----------	----------

CAPITAL AND RESERVES

Called up share capital	12	1	1
Profit and loss account		( 7,672)	( 23,667)
		-------	---------
SHAREHOLDER DEFICIT		( 7,671)	( 23,666)
		-------	---------

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.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

WITT & SON PROPERTIES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 24 June 2025 , and are signed on behalf of the board by:

Dr H T Witt
Director

Company registration number: 05885579

WITT & SON PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Witt House, 3 Shelf Mills, Wade House Road, Shelf, Halifax, West Yorkshire, HX3 7BJ.

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. The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The company has a small deficit on the balance sheet, this was created by the increase in the deferred tax liability. The group will provide continuing support for the company and repayment of the inter group loan will not be requested until funds are available.

Judgements and key sources of estimation uncertainty

Preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are not considered to be any judgements, accounting estimates or assumptions that have a significant impact on the financial statements.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for supply of accommodation, stated net of discounts and of Value Added Tax.

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. 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.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

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:

Freehold property	-	2% straight line
Integral features	-	5% straight line

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

4. TAX ON PROFIT

Major components of tax expense

	2024	2023
	£	£

Current tax:

UK current tax expense	12,458	–

Deferred tax:

Origination and reversal of timing differences	1,446	50,797
	---------	---------
Tax on profit	13,904	50,797
	---------	---------

5. TANGIBLE ASSETS

	Freehold property	Plant and machinery	Total
	£	£	£
Cost
At 1 January 2024	1,768,382	325,985	2,094,367
Additions	–	13,734	13,734
	-------------	----------	-------------
At 31 December 2024	1,768,382	339,719	2,108,101
	-------------	----------	-------------
Depreciation
At 1 January 2024	237,139	45,391	282,530
Charge for the year	23,923	16,655	40,578
	-------------	----------	-------------
At 31 December 2024	261,062	62,046	323,108
	-------------	----------	-------------
Carrying amount
At 31 December 2024	1,507,320	277,673	1,784,993
	-------------	----------	-------------
At 31 December 2023	1,531,243	280,594	1,811,837
	-------------	----------	-------------

6. DEBTORS

	2024	2023
	£	£
Corporation tax repayable	–	8,150
	----	-------

7. CREDITORS: amounts falling due within one year

	2024	2023
	£	£
Amounts owed to group undertakings	1,549,139	1,500,910
Accruals and deferred income	14,645	3,462
Corporation tax	4,307	–
Obligations under finance leases and hire purchase contracts	39,683	36,291
Other creditors	–	86,154
	-------------	-------------
	1,607,774	1,626,817
	-------------	-------------

8. CREDITORS: amounts falling due after more than one year

	2024	2023
	£	£
Obligations under finance leases and hire purchase contracts	90,317	123,709
	---------	----------

9. FINANCE LEASES AND HIRE PURCHASE CONTRACTS

The total future minimum lease payments under finance leases and hire purchase contracts are as follows:

	2024	2023
	£	£
Not later than 1 year	39,683	36,291
Later than 1 year and not later than 5 years	90,317	123,709
	----------	----------
	130,000	160,000
	----------	----------

10. PROVISIONS

	Deferred tax (note 11)
	£
At 1 January 2024	93,127
Additions	1,446
	---------
At 31 December 2024	94,573
	---------

11. DEFERRED TAX

The deferred tax included in the statement of financial position is as follows:

	2024	2023
	£	£
Included in provisions (note 10)	94,573	93,127
	---------	---------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2024	2023
	£	£
Accelerated capital allowances	94,573	93,127
	---------	---------

12. CALLED UP SHARE CAPITAL

Issued, called up and fully paid

	2024		2023
	No.	£	No.	£
Ordinary shares of £ 1 each	1	1	1	1
	----	----	----	----

13. SUMMARY AUDIT OPINION

The auditor's report dated 26 September 2025 was unqualified .

The senior statutory auditor was Sally Shacklock BA FCA , for and on behalf of Streets Spenser Wilson (Yorkshire) Limited .

14. RELATED PARTY TRANSACTIONS

The company is a member of a medium group, the holding company of which, Witt & Son UK Holdings Limited, prepares publicly available consolidated financial statements. Having taken advantage of the exemptions in Financial Reporting Standard 102 in respect of the disclosure of related party transactions, there were no other transactions that require disclosure .

15. ULTIMATE PARENT COMPANY

The company's immediate and ultimate holding company is Witt & Son UK Holdings Limited, a company incorporated in England. This is the largest and smallest group for which accounts are drawn up and of which the company is a member, consolidated accounts are available from Companies House. The holding company's registered office is at Witt House, 3 Shelf Mills, Wade House Road, Shelf, Halifax, West Yorkshire, HX3 7BJ.