Wigton Homes Limited Filleted accounts for Companies House (small and micro)

Wigton Homes Limited Filleted accounts for Companies House (small and micro)

WIGTON HOMES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 13287206
WIGTON HOMES LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
30 March 2023
WIGTON HOMES LIMITED
STATEMENT OF FINANCIAL POSITION
30 March 2023
30 Mar 23
31 Mar 22
Note
£
£
£
£
FIXED ASSETS
Tangible assets
4
86,592
86,592
CURRENT ASSETS
Debtors
5
21,340
10,950
Cash at bank and in hand
304
532
--------
--------
21,644
11,482
CREDITORS: amounts falling due within one year
6
( 25,482)
( 22,512)
--------
--------
NET CURRENT LIABILITIES
( 3,838)
( 11,030)
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
82,754
75,562
CREDITORS: amounts falling due after more than one year
7
( 82,500)
( 82,500)
--------
--------
NET ASSETS/(LIABILITIES)
254
( 6,938)
--------
--------
CAPITAL AND RESERVES
Called up share capital
1
1
Profit and loss account
253
( 6,939)
----
-------
SHAREHOLDERS FUNDS/(DEFICIT)
254
( 6,938)
----
-------
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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 30 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
WIGTON HOMES LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 March 2023
These financial statements were approved by the board of directors and authorised for issue on 13 March 2024 , and are signed on behalf of the board by:
N C Statman
Director
Company registration number: 13287206
WIGTON HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 1 APRIL 2022 TO 30 MARCH 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 141 Wigton Lane, Leeds, LS17 8SH, England.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover comprises revenue recognised by the Company in respect of rental income received.
Income tax
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its open market value at each reporting date and any changes in value are recognised in the statement of income and retained earnings.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. TANGIBLE ASSETS
Investment property
£
Cost
At 1 April 2022 and 30 March 2023
86,592
--------
Depreciation
At 1 April 2022 and 30 March 2023
–
--------
Carrying amount
At 30 March 2023
86,592
--------
At 31 March 2022
86,592
--------
The market value of the investment property held as at 30th March 2023 has been calculated by the director, and has been valued at open market value.
5. DEBTORS
30 Mar 23
31 Mar 22
£
£
Other debtors
21,340
10,950
--------
--------
6. CREDITORS: amounts falling due within one year
30 Mar 23
31 Mar 22
£
£
Trade creditors
41
–
Corporation tax
59
–
Amounts due to related companies
4,062
7,712
Other creditors
21,320
14,800
--------
--------
25,482
22,512
--------
--------
7. CREDITORS: amounts falling due after more than one year
30 Mar 23
31 Mar 22
£
£
Bank loans and overdrafts
82,500
82,500
--------
--------