REGISTERED NUMBER: 00899198 (England and Wales)

Financial Statements

for the Year Ended 30 September 2024

for

Willingale Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

M A Heard

J A Heard

Mrs J M Heard

SECRETARY:

M A Heard

REGISTERED OFFICE:

Crane Court

302 London Road

Ipswich

Suffolk

IP2 0AJ

REGISTERED NUMBER:

00899198 (England and Wales)

ACCOUNTANTS:

Knights Lowe Ltd

Chartered Accountants

Crane Court

302 London Road

Ipswich

Suffolk

IP2 0AJ

FIXED ASSETS

Tangible assets

4

6,816

6,041

Investment property

5

6,055,000

6,055,000

6,061,816

6,061,041

CURRENT ASSETS

Debtors

6

354,862

319,289

Cash at bank

325,592

316,425

680,454

635,714

CREDITORS

Amounts falling due within one year

7

193,050

210,167

NET CURRENT ASSETS

487,404

425,547

TOTAL ASSETS LESS CURRENT LIABILITIES

6,549,220

6,486,588

CREDITORS

Amounts falling due after more than one year

8

-

(3,156

)

PROVISIONS FOR LIABILITIES

10

(685,030

)

(685,030

)

NET ASSETS

5,864,190

5,798,402

CAPITAL AND RESERVES

Called up share capital

11

100,000

100,000

Fair value reserve

12

4,793,937

4,793,937

Retained earnings

12

970,253

904,465

SHAREHOLDERS' FUNDS

5,864,190

5,798,402

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 31 October 2025 and were signed on its behalf by:

M A Heard - Director

1.	STATUTORY INFORMATION

Willingale 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.	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.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on cost

Computer equipment

-

25% on cost

Investment property

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

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, bank facilities and loans with related parties.

Debt instruments that are payable or receivable within one year, such as trade payables or receivables, are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. Debt instruments that are repayable or receivable after one year are initially measured at the present value of the future cash flows and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each financial year for evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised in the Income Statement.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 October 2023

24,616

4,359

11,159

40,134

Additions

-

-

2,818

2,818

At 30 September 2024

24,616

4,359

13,977

42,952

DEPRECIATION

At 1 October 2023

22,261

4,359

7,473

34,093

Charge for year

589

-

1,454

2,043

At 30 September 2024

22,850

4,359

8,927

36,136

NET BOOK VALUE

At 30 September 2024

1,766

-

5,050

6,816

At 30 September 2023

2,355

-

3,686

6,041

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2023

and 30 September 2024

6,055,000

NET BOOK VALUE

At 30 September 2024

6,055,000

At 30 September 2023

6,055,000

Fair value at 30 September 2024 is represented by:

£

Valuation in 2001

491,817

Valuation in 2003

150,000

Valuation in 2005

200,000

Valuation in 2007

100,000

Valuation in 2012

(150,000

)

Valuation in 2017

1,764,301

Valuation in 2020

750,000

Valuation in 2022

1,750,000

Cost

998,882

6,055,000

If the investment properties had not been revalued they would have been included at the following historical cost:

2024

2023

£

£

Cost

998,882

998,882

Aggregate depreciation

(620,770

)

(607,278

)

Investment properties were valued on an open market basis on 30 September 2024 by the directors .

6.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Other debtors

279,406

251,216

Amounts falling due after more than one year:

Other debtors

75,456

68,073

Aggregate amounts

354,862

319,289

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

657

13,714

Trade creditors

18,775

18,256

Taxation and social security

70,342

77,295

Other creditors

103,276

100,902

193,050

210,167

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

-

3,156

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

657

16,870

10.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

Investment property gains

685,030

685,030

Deferred

tax

£

Balance at 1 October 2023

685,030

Balance at 30 September 2024

685,030

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100,000

Ordinary

£1

100,000

100,000

12.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 October 2023

904,465

4,793,937

5,698,402

Profit for the year

65,788

-

65,788

At 30 September 2024

970,253

4,793,937

5,764,190

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2024 and 30 September 2023:

2024

2023

£

£

M A Heard

Balance outstanding at start of year

218,096

158,078

Amounts advanced

21,877

64,849

Amounts repaid

-

(4,831

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

239,973

218,096