WP Property Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 10009587 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2023

for

WP Property Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Miss J K Evison

SECRETARY:

Mrs R Stephenson

REGISTERED OFFICE:

Womersley Park

Womersley

Doncaster

DN6 9BH

REGISTERED NUMBER:

10009587 (England and Wales)

ACCOUNTANTS:

Try Lunn & Co

Chartered Accountants

Roland House

Princes Dock Street

Hull

HU1 2LD

FIXED ASSETS

Investment property

4

637,173

637,173

CURRENT ASSETS

Debtors

5

491

5,845

Cash at bank and in hand

32,598

65,431

33,089

71,276

CREDITORS

Amounts falling due within one year

6

494,666

573,159

NET CURRENT LIABILITIES

(461,577

)

(501,883

)

TOTAL ASSETS LESS CURRENT LIABILITIES

175,596

135,290

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

8

175,496

135,190

SHAREHOLDERS' FUNDS

175,596

135,290

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director and authorised for issue on 27 June 2023 and were signed by:

Miss J K Evison - Director

1.	STATUTORY INFORMATION

WP Property 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.

The company is dependent on the continued financial support of the director and shareholders who have agreed to provide this support to ensure the company will be able to trade as a going concern for the foreseeable future.

Turnover

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

Turnover is recognised at the date that the service has been delivered.

Investment property

Investment property is shown at cost in the balance sheet. The directors believe that this is the fair value of the properties

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 1 (2022 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2022

and 31 March 2023

637,173

NET BOOK VALUE

At 31 March 2023

637,173

At 31 March 2022

637,173

The opinion of the directors is that the fair value is the cost of the properties.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

491

5,845

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

12

11

Taxation and social security

10,158

9,989

Other creditors

484,496

563,159

494,666

573,159

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

100

Ordinary

1

100

100

8.

RESERVES

Retained

earnings

£

At 1 April 2022

135,190

Profit for the year

40,306

At 31 March 2023

175,496

9.	RELATED PARTY DISCLOSURES

At the year end the company owed Ms J K Evison £235,958.74 (2022 - £276,039.45) and Mrs R Stephenson £235,958.74 (2021 - £276,039.45). These loans are both interest free, unsecured and repayable on demand.

10.	ULTIMATE CONTROLLING PARTY

The company is controlled by J Evison and R Stephenson.