Willigby Property Limited - Filleted accounts

Registered number

13503779

Willigby Property Limited

Unaudited Filleted Accounts For The Year Ended

31 July 2025

Willigby Property Limited
Registered number:		13503779
Balance Sheet
as at 31 July 2025

Notes			2025			2024
£				£
Fixed assets
Investment properties	4		815,279			814,217
			815,279			814,217

Current assets
Debtors	5	1,493			1,155
Cash at bank and in hand		27,333			1,644
		28,826			2,799

Creditors: amounts falling due within one year	6	(330,218)			(326,400)

Net current liabilities			(301,392)			(323,601)

Total assets less current liabilities			513,887			490,616

Creditors: amounts falling due after more than one year	7		(419,993)			(419,993)

Provisions for liabilities			(13,451)			(13,451)


Net assets			80,443			57,172

Capital and reserves
Called up share capital			10			10
Profit and loss account			80,433			57,162

Shareholders' funds			80,443			57,172

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.




P P Rigby
Director
Approved by the board on 28 April 2026

Willigby Property Limited
Notes to the Accounts
for the year ended 31 July 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention modified to include investment property at fair value 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).

	Turnover
	Turnover represents the rent received from lettings of residential properties.

	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:

	Fixtures, fittings, tools and equipment			33% straight line.

	Investment properties
	Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognized at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are included in the profit and loss account.

	Impairment of fixed assets
	At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.

	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. 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. 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.

2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					2		2
	(including directors)


3	Tangible fixed assets
						Plant and machinery etc		Total
£							£
	Cost
	At 1 August 2024					4,710		4,710
	At 31 July 2025					4,710		4,710

	Depreciation
	At 1 August 2024					4,710		4,710
	Charge for the year					-		-
	At 31 July 2025					4,710		4,710

	Net book value
	At 31 July 2025					-		-
	At 31 July 2024					-		-



4	Investment property

Investment
property							Total
£							£
	Fair value
	At 1 August 2024					814,217		814,217
	Additions					1,062		1,062

	At 31 July 2025					815,279		815,279

	Investment property comprises freehold property. The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31 July 2025 by the director.


5	Debtors					2025		2024
£							£

	Other debtors					1,493		1,155
						1,493		1,155


6	Creditors: amounts falling due within one year					2025		2024
£							£

	Taxation and social security costs					5,911		2,031
	Other creditors					324,307		324,369
						330,218		326,400


7	Creditors: amounts falling due after one year					2025		2024
£							£

	Other creditors					419,993		419,993
						419,993		419,993

	Other creditors includes loans from shareholders amounting to £419,993. No interest was paid on these loans during the reporting period.

8	Loans to directors
B/fwd			Paid		Repaid		C/fwd
£			£		£		£
	P P Rigby
	Directors loan	(323,071)		-		62		(323,009)

		(323,071)		-		62		(323,009)


9	Other information

	Willigby Property Limited is a private company limited by shares and incorporated in England. Its registered office is:
	c/o Office 3.01
	Baltimore House
	Baltic Business Quarter
	Gateshead
	NE8 3DF