We Let Properties Limited - Accounts

We Let Properties Limited - Accounts

WE LET PROPERTIES LIMITED - Company Information

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Registered Number: 06971336
England and Wales

 

 

 

WE LET PROPERTIES LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 August 2021

End date: 31 July 2022

We Let Properties Limited
Contents Page
For the year ended 31 July 2022
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts We Let Properties Limited for the year ended 31 July 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of We Let Properties Limited for the year ended 31 July 2022 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Chartered Institute of Management Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.cimaglobal.com.
This report is made solely to the Board of Directors of We Let Properties Limited , as a body, in accordance with the terms of our engagement letter dated 26 October 2022. Our work has been undertaken solely to prepare for your approval the accounts of We Let Properties Limited and state those matters that we have agreed to state to the Board of Directors of We Let Properties Limited, as a body, in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than We Let Properties Limited and its Board of Directors as a body for our work or for this report
It is your duty to ensure that We Let Properties Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit We Let Properties Limited. You consider that We Let Properties Limited is exempt from the statutory audit requirement for the year
We have not been instructed to carry out an audit or a review of the accounts of We Let Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



....................................................
Rivington Accounts Ltd
Bank House
6-8 Church Street
Adlington
Lancashire
PR7 4EX
26 October 2022
1
 
 		 Notes
 		 2022
£		   2021
£
Fixed assets      
Tangible fixed assets 5,026    6,212 
5,026    6,212 
Current assets      
Debtors 428,979    420,725 
Cash at bank and in hand 476,768    393,755 
905,747    814,480 
Creditors: amount falling due within one year (93,643)   (124,147)
Net current assets 812,104    690,333 
 
Total assets less current liabilities 817,130    696,545 
Creditors: amount falling due after more than one year (123,333)   (160,000)
Accruals and deferred income 0    (78,688)
Provisions for liabilities (1,451)   (1,643)
Net assets 692,346    456,214 
 

Capital and reserves 		     
Called up share capital 1    1 
Profit and loss account 692,345    456,213 
Shareholder's funds 692,346    456,214 
 


For the year ended 31 July 2022 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006 the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 26 October 2022 and were signed by:


--------------------------------
Wayne Eastman
Director
2
General Information
We Let Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 06971336, registration address 3-5 Duke Street, Manchester, M3 4NF.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 25% Reducing Balance
Plant and Machinery 25% Reducing Balance
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 8 (2021 : 9).
3.

Tangible fixed assets

Cost or valuation Computer Equipment   Plant and Machinery   Total
  £   £   £
At 01 August 2021 4,297    15,132    19,429 
Additions 490    -    490 
Disposals -    -    - 
At 31 July 2022 4,787    15,132    19,919 
Depreciation
At 01 August 2021 1,880    11,337    13,217 
Charge for year 727    949    1,676 
On disposals -    -    - 
At 31 July 2022 2,607    12,286    14,893 
Net book values
Closing balance as at 31 July 2022 2,180    2,846    5,026 
Opening balance as at 01 August 2021 2,417    3,795    6,212 


4.

Share Capital

Allotted, called up and fully paid
2022
£		   2021
£
1 Class A share of £1.00 each 1    1 
1    1 

3