| Witt Properties Limited |
| Registered number: |
15467210 |
| Balance Sheet |
| as at 28 February 2025 |
|
| Notes |
|
|
2025 |
|
| £ |
|
| Fixed assets |
| Tangible assets |
3 |
|
|
19,355 |
|
| Current assets |
| Stocks |
|
|
172 |
| Debtors |
4 |
|
7,152 |
| Cash at bank and in hand |
|
|
3,724 |
|
|
|
11,048 |
|
|
|
| Creditors: amounts falling due within one year |
5 |
|
(18,390) |
|
| Net current liabilities |
|
|
|
(7,342) |
|
|
| Total assets less current liabilities |
|
|
|
12,013 |
|
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(24,000) |
|
| Net liabilities |
|
|
|
(11,987) |
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
| Profit and loss account |
|
|
|
(12,087) |
| Shareholders' funds |
|
|
|
(11,987) |
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
| Mr M.R. Witt |
| Director |
| Approved by the board on 28 October 2025 |
|
| Witt Properties Limited |
| Notes to the Accounts |
| for the period from 5 February 2024 to 28 February 2025 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Going concern |
|
Trading conditions have improved in the current year and the directors and other loan creditors (see notes 5 & 6) are able and willing to support the company financially for the forseeable future. Accordingly the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and they continue to adopt the going concern basis of accounting in preparing these financial statements. |
|
|
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and equipment |
4 years straight line basis |
|
|
Stocks |
|
Stocks are measured at the lower of cost and net realisable value. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. |
|
Taxation (continued) |
|
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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted. |
|
|
Operating leases |
|
Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
|
|
| 2 |
Employees |
2025 |
| Number |
|
|
Average number of persons employed by the company (including directors) during the year |
|
|
|
2 |
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and equipment |
| £ |
|
Cost |
|
Additions |
21,569 |
|
At 28 February 2025 |
21,569 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
Charge for the period |
2,214 |
|
At 28 February 2025 |
2,214 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 28 February 2025 |
19,355 |
|
|
| 4 |
Debtors |
2025 |
|
| £ |
|
|
Taxation recoverable |
|
|
|
|
2,266 |
|
Prepayments |
4,886 |
|
|
|
|
|
|
7,152 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2025 |
|
| £ |
|
|
Trade creditors |
733 |
|
Directors' joint loan account |
2,947 |
|
Credit card balance |
6,345 |
|
Other loan creditors |
|
|
|
|
4,762 |
|
Accruals & deferred income |
3,603 |
|
|
|
|
|
|
18,390 |
|
|
|
|
|
|
|
|
|
|
The credit card balance and the other loan creditors (notes 5 and 6) all carry commercial interest rates and therefore have carrying amounts equivalent to their fair values. |
|
| 6 |
Creditors: amounts falling due after one year |
2025 |
|
| £ |
|
|
|
Directors' joint loan account |
20,000 |
|
Other loan creditors |
4,000 |
|
|
|
|
|
|
24,000 |
|
|
|
|
|
|
|
|
| 7 |
Other financial commitments |
2025 |
|
| £ |
|
|
|
Total future minimum payments under non-cancellable operating leases |
|
7,630 |
|
|
|
|
|
|
|
|
|
| 8 |
Other information |
|
|
Witt Properties Limited is a private company limited by shares and incorporated in England. Its registered office is: 3 Bradley Carr Terrace, South Elmsall, Pontefract, WF9 2LE. |
|
WF9 2LE |
|
The financial statements are presented in Sterling, which is the functional currency of the company. |