Registration number: 00128275

W H Munsey Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 8

W H Munsey Limited

(Registration number: 00128275)
Balance Sheet as at 31 August 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	344,843	359,848
Investment property	5	9,645,000	9,820,849
Investments	6	47,284	47,284
		10,037,127	10,227,981
Current assets
Debtors	7	51,007	14,778
Cash at bank and in hand		147,699	205,002
		198,706	219,780
Creditors: Amounts falling due within one year	8	(865,696)	(880,800)
Net current liabilities		(666,990)	(661,020)
Total assets less current liabilities		9,370,137	9,566,961
Provisions for liabilities		(1,139,010)	(1,180,955)
Net assets		8,231,127	8,386,006
Capital and reserves
Called up share capital	9	12,500	12,500
Capital redemption reserve		40,701	40,701
Other reserves		1,000	1,000
Retained earnings		8,176,926	8,331,805
Shareholders' funds		8,231,127	8,386,006

For the financial year ending 31 August 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

W H Munsey Limited

(Registration number: 00128275)
Balance Sheet as at 31 August 2025

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 April 2026 and signed on its behalf by:
 

......................................... Mr W P Munsey Company secretary and director

W H Munsey Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
The Old Workshop
Mill Street
Oxford
OX2 0AN

These financial statements were authorised for issue by the Board on 28 April 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts..

Going concern

The financial statements have been prepared on a going concern basis. The company has net current liabilities as at 31 August 2017. The company's bankers remain supportive of the company via loan funding which is included in short term liabilities. The most recent review took place in April 2017 and the bankers have since confirmed that no changes are anticipated to the bank loans for a minimum of two years.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

W H Munsey Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

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 receive more, tax.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is provided at rates calculated to write off the cost or valuation less residual value of each asset over its expected useful life, as follows:

Asset class	Depreciation method and rate
Freehold properties used as business premises	2% Straight line
Fixtures and fittings	33.33% Straight line

Investment property

Investment properties are included in the accounts at fair value. The fair value is determined by the directors after taking appropriate advice. Changes in fair value are recognised in profit or loss in the year.

Investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

W H Munsey Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

Borrowings

Interest-bearing borrowings are recorded at fair value, net of transaction costs.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2024 - 4).

W H Munsey Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 September 2024	362,354	352,710	715,064
Additions	-	2,709	2,709
At 31 August 2025	362,354	355,419	717,773
Depreciation
At 1 September 2024	118,647	236,569	355,216
Charge for the year	7,110	10,604	17,714
At 31 August 2025	125,757	247,173	372,930
Carrying amount
At 31 August 2025	236,597	108,246	344,843
At 31 August 2024	243,707	116,141	359,848

5	Investment properties

	£
At 1 September 2024 and 31st August 2025	9,645,000

The Investment properties class of fixed assets was revalued on 31 August 2025 by the Directors who are internal to the company. The basis of this valuation was professional advice obtained in January 2017 regarding their open market value.
This class of assets has a carrying amount at historical cost of £4,280,975 (2024 - £4,280,975).The depreciation on this historical cost is £nil (2024 - £nil).

W H Munsey Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

6	Investments

	2025 £	2024 £
Investments in subsidiaries	47,284	47,284