REGISTERED NUMBER: 13760627 (England and Wales)

Financial Statements

for the Year Ended 31 March 2025

for

Wight Property Company Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

I Schaff

L Rayner

B Wakefield

REGISTERED OFFICE:

22 Grange Road

Shanklin

Isle of Wight

PO37 6NN

REGISTERED NUMBER:

13760627 (England and Wales)

ACCOUNTANTS:

SKS Bailey Group Limited

Suite 4, 10/12 The Grove,

Ilkley

West Yorkshire

LS29 9EG

Fixed assets

Tangible assets

4

800,977

405,569

Current assets

Debtors

5

1,785

17,487

Cash at bank and in hand

6,492

3,620

8,277

21,107

Creditors

Amounts falling due within one year

6

(255,684

)

(150,135

)

Net current liabilities

(247,407

)

(129,028

)

Total assets less current liabilities

553,570

276,541

Creditors

Amounts falling due after more than one year

7

(542,382

)

(265,725

)

Net assets

11,188

10,816

Capital and reserves

Called up share capital

8

36

4

Retained earnings

9

11,152

10,812

Shareholders' funds

11,188

10,816

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 29 October 2025 and were signed on its behalf by:

I Schaff - Director

1.	STATUTORY INFORMATION

Wight Property Company Ltd 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.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS

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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

Long

to

property

leasehold

property

Totals

£

£

£

£

COST

At 1 April 2024

-

378,868

33,015

411,883

Additions

369,073

-

35,279

404,352

At 31 March 2025

369,073

378,868

68,294

816,235

DEPRECIATION

At 1 April 2024

-

6,314

-

6,314

Charge for year

-

7,578

1,366

8,944

At 31 March 2025

-

13,892

1,366

15,258

NET BOOK VALUE

At 31 March 2025

369,073

364,976

66,928

800,977

At 31 March 2024

-

372,554

33,015

405,569

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

769

-

Directors' current accounts

-

17,487

Prepayments

1,016

-

1,785

17,487

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Corporation tax

-

769

Other creditors

125,962

148,862

Directors' current accounts

128,572

-

Accrued expenses

1,150

504

255,684

150,135

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Mortgage

542,382

265,725

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

6

Ordinary

0.67

36

4

9.

RESERVES

Retained

earnings

£

At 1 April 2024

10,812

Profit for the year

340

At 31 March 2025

11,152

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

No dividends were paid to the director's throughout the period ended 31st March 2025 (NIL - 2024). The Company owed the director £128,572 as at 31st March 2025 (The director's owed the Company £17,487 as at 31st March 2024).

11.	RELATED PARTY DISCLOSURES

As at 31st March 2025 the Company has a loan outstanding totalling £125,962 to a related party.