COMPANY REGISTRATION NUMBER:
03336129
|
Windel Properties Limited |
|
|
Filleted Unaudited Abridged Financial Statements |
|
|
Windel Properties Limited |
|
|
Abridged Statement of Financial Position |
|
31 March 2025
Fixed assets
|
Tangible assets |
5 |
|
129,272 |
148,379 |
|
|
|
|
|
Current assets
|
Debtors |
247 |
|
375 |
|
Cash at bank and in hand |
14,366 |
|
13,266 |
|
-------- |
|
-------- |
|
14,613 |
|
13,641 |
|
|
|
|
|
Creditors: amounts falling due within one year |
56,913 |
|
18,275 |
|
-------- |
|
-------- |
|
Net current liabilities |
|
42,300 |
4,634 |
|
|
--------- |
--------- |
|
Total assets less current liabilities |
|
86,972 |
143,745 |
|
|
|
|
Provisions
|
Taxation including deferred tax |
|
5,550 |
8,422 |
|
|
-------- |
--------- |
|
Net assets |
|
81,422 |
135,323 |
|
|
-------- |
--------- |
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|
|
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Capital and reserves
|
Called up share capital |
|
2 |
2 |
|
Profit and loss account |
|
81,420 |
135,321 |
|
|
-------- |
--------- |
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Shareholders funds |
|
81,422 |
135,323 |
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|
-------- |
--------- |
|
|
|
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These abridged 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.
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of financial position for the year ending 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.
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Windel Properties Limited |
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Abridged Statement of Financial Position (continued) |
|
31 March 2025
These abridged financial statements were approved by the
board of directors
and authorised for issue on
1 October 2025
, and are signed on behalf of the board by:
Company registration number:
03336129
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Windel Properties Limited |
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Notes to the Abridged Financial Statements |
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Year ended 31 March 2025
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 48 Lower Icknield Way, Chinnor, Oxfordshire, OX39 4EB.
2.
Statement of compliance
These abridged 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 abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover shown in the profit and loss account represents rent receivable during the year.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
|
Holiday lodges |
- |
10% straight line to a residual value of 25% |
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Lodge equipment |
- |
20% straight line |
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Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent
of the cash inflows from other assets or groups of assets.
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 abridged 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
A financial asset or a financial liability is recognised only when the entity 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 financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to Nil
(2024:
2
).
5.
Tangible assets
|
£ |
|
Cost |
|
|
At 1 April 2024 and 31 March 2025 |
234,694 |
|
--------- |
|
Depreciation |
|
|
At 1 April 2024 |
86,315 |
|
Charge for the year |
19,107 |
|
--------- |
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At 31 March 2025 |
105,422 |
|
--------- |
|
Carrying amount |
|
|
At 31 March 2025 |
129,272 |
|
--------- |
|
At 31 March 2024 |
148,379 |
|
--------- |
|
|
6.
Deferred tax
The deferred tax included in the abridged statement of financial position is as follows:
|
2025 |
2024 |
|
£ |
£ |
|
Included in provisions |
5,550 |
8,422 |
|
------- |
------- |
|
|
|
The deferred tax account consists of the tax effect of timing differences in respect of:
|
2025 |
2024 |
|
£ |
£ |
|
Accelerated capital allowances |
19,444 |
21,951 |
|
Unused tax losses |
(
13,894) |
(
13,529) |
|
-------- |
-------- |
|
5,550 |
8,422 |
|
-------- |
-------- |
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7.
Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
|
2025 |
|
|
Balance brought forward |
Advances/ (credits) to the directors |
Balance outstanding |
|
|
£ |
£ |
£ |
|
R.M. Dorman |
(
16,359) |
(
38,591) |
(
54,950) |
|
|
-------- |
-------- |
-------- |
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|
|
|
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|
2024 |
|
|
Balance brought forward |
Advances/ (credits) to the directors |
Balance outstanding |
|
|
£ |
£ |
£ |
|
R.M. Dorman |
(
84) |
(
16,265) |
(16,349) |
|
|
---- |
-------- |
-------- |
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8.
Related party transactions
The company was under the control of
R.M. Dorman
and D.M. Dorman throughout the current and previous year. R.M. Dorman
and D.M. Dorman are husband and wife, are both directors of the company and hold 50% of the issued share capital each. During the year there were transactions with related parties as follows:
|
|
2025 |
2024 |
|
|
£ |
£ |
|
Dividends paid to the directors |
46,000 |
6,600 |
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