LW Wellesley Limited - Accounts to registrar (filleted) - small 23.2.5

LW Wellesley Limited - Accounts to registrar (filleted) - small 23.2.5

LW WELLESLEY LIMITED - Company Information

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REGISTERED NUMBER: 11565037 (England and Wales)















LW WELLESLEY LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022





Joseph Kahan Associates LLP
Chartered Accountants
923 Finchley Road
London
NW11 7PE








LW WELLESLEY LIMITED (REGISTERED NUMBER: 11565037)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


LW WELLESLEY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTOR: N Fisch





REGISTERED OFFICE: Mazars LLP
The Pinnacle
160 Midsummer Boulevard
Milton Keynes
Buckinghamshire
MK9 1FF





REGISTERED NUMBER: 11565037 (England and Wales)





ACCOUNTANTS: Joseph Kahan Associates LLP
Chartered Accountants
923 Finchley Road
London
NW11 7PE
Page 1
LW WELLESLEY LIMITED (REGISTERED NUMBER: 11565037)

ABRIDGED BALANCE SHEET
31 DECEMBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 87,691 -
Investment property 5 7,640,546 7,458,628
7,728,237 7,458,628

CURRENT ASSETS
Debtors 96,685 95,506
Cash at bank and in hand 86,091 1,000
182,776 96,506
CREDITORS
Amounts falling due within one year 171,646 98,837
NET CURRENT ASSETS/(LIABILITIES) 11,130 (2,331 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
7,739,367
7,456,297

CREDITORS
Amounts falling due after more than one
year
(7,509,082
)
(7,509,082
)

PROVISIONS FOR LIABILITIES (34,564 ) -
NET ASSETS/(LIABILITIES) 195,721 (52,785 )

CAPITAL AND RESERVES
Called up share capital 6 1,000 1,000
Retained earnings 194,721 (53,785 )
SHAREHOLDERS' FUNDS 195,721 (52,785 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 notes form part of these financial statements

Page 2 continued...
LW WELLESLEY LIMITED (REGISTERED NUMBER: 11565037)

ABRIDGED BALANCE SHEET - continued
31 DECEMBER 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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 20 December 2023 and were signed by:





N Fisch - Director


The notes form part of these financial statements

Page 3
LW WELLESLEY LIMITED (REGISTERED NUMBER: 11565037)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022


1. STATUTORY INFORMATION

LW Wellesley Limited 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured as the fair value of the consideration receivable in respect of services provided in the normal course of business. The turnover of the company is represented by rents and charges receivable in respect of the company's investment portfolio. Rental income is accounted for on an accruals basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - Straight line over 4 years

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

Page 4 continued...
LW WELLESLEY LIMITED (REGISTERED NUMBER: 11565037)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


2. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

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.

Page 5 continued...
LW WELLESLEY LIMITED (REGISTERED NUMBER: 11565037)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
Additions 116,921
At 31 December 2022 116,921
DEPRECIATION
Charge for year 29,230
At 31 December 2022 29,230
NET BOOK VALUE
At 31 December 2022 87,691

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2022 7,458,628
Revaluations 181,918
At 31 December 2022 7,640,546
NET BOOK VALUE
At 31 December 2022 7,640,546
At 31 December 2021 7,458,628

The property was professionally valued during the year by Richard Elton MRICS of Matthews & Goodman LLP . The carrying figure represents the fair value of the property.

Fair value at 31 December 2022 is represented by:
£   
Valuation in 2022 181,918
Cost 7,458,628
7,640,546

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
1,000 Ordinary Shares £1 1,000 1,000

Page 6