Wigan Mining & Restoration Co. Limited - Accounts to registrar (filleted) - small 18.2
Wigan Mining & Restoration Co. Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2021 |
for |
WIGAN MINING & RESTORATION CO. LIMITED |
WIGAN MINING & RESTORATION CO. LIMITED (REGISTERED NUMBER: 00934051) |
Contents of the Financial Statements |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
WIGAN MINING & RESTORATION CO. LIMITED |
Company Information |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
1st Floor Waterside House |
Waterside Drive |
Wigan |
Lancashire |
WN3 5AZ |
WIGAN MINING & RESTORATION CO. LIMITED (REGISTERED NUMBER: 00934051) |
Balance Sheet |
31 DECEMBER 2021 |
31.12.21 | 31.12.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Revaluation reserve |
Retained earnings non |
distributable |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
WIGAN MINING & RESTORATION CO. LIMITED (REGISTERED NUMBER: 00934051) |
Balance Sheet - continued |
31 DECEMBER 2021 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
WIGAN MINING & RESTORATION CO. LIMITED (REGISTERED NUMBER: 00934051) |
Notes to the Financial Statements |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
1. | STATUTORY INFORMATION |
Wigan Mining & Restoration Co. Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The directors have reviewed the company's forecasts and projections and in particular have considered the potential implications of the Coronavirus (COVID - 19) pandemic. Whilst the eventual financial impact of the pandemic on the company, and on the overall economy, remains uncertain, the directors are confident that the company will be able to remain operational throughout the pandemic. |
The directors have reasonable expectation that the company will have adequate funding and support to continue in operational existence for the foreseeable future. |
The company therefore continues to adopt the going concern basis in preparing its financial statements. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with group companies. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Freehold property | - |
Ground rent | - |
Plant and machinery | - |
Fixtures and fittings | - |
Depreciation is not provided on freehold property. This treatment may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. The accounting policy adopted is considered necessary for the accounts to give a true and fair view. Depreciation or amortization is one of the many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified. |
Investment property |
Investment properties for which fair value can be measured reliably are measured at fair value at each reporting date with changes in fair value recognised in the income statement. Properties are valued on an open market basis by Mr C J Baybutt (FRICS), a director of the company and supported by external professional valuers. |
WIGAN MINING & RESTORATION CO. LIMITED (REGISTERED NUMBER: 00934051) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation represents the sum of tax currently payable and deferred tax. |
The company's liability for the current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. |
Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases in the computation of taxable profit. The carrying amount of any deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. |
Deferred tax liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantially enacted by the end of the reporting period. |
Short term debtors and creditors receivable |
Short term debtors and creditors with no stated interest rate are recorded at the transaction price. Any losses arising from impairment are recognised in the income statement. |
Covid-19 impact |
The director has reviewed the company's forecast and projections and, in particular, have considered the potential implications of the Coronavirus (Covid-19) pandemic. |
The company has accessed government support during the pandemic. |
Whilst the eventual financial impact of the pandemic on the company, and on the overall economy, remains uncertain, the directors are confident that it will continue to have minimal impact on the company and that it will remain operational throughout the pandemic. |
The company therefore continues to adopt the going concern basis in preparing its financial statements. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Ground | Plant and | and |
property | rent | machinery | fittings | Totals |
£ | £ | £ | £ | £ |
COST OR VALUATION |
At 1 January 2021 |
and 31 December 2021 |
DEPRECIATION |
At 1 January 2021 |
Charge for year |
At 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
WIGAN MINING & RESTORATION CO. LIMITED (REGISTERED NUMBER: 00934051) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
4. | TANGIBLE FIXED ASSETS - continued |
Cost or valuation at 31 December 2021 is represented by: |
Fixtures |
Freehold | Ground | Plant and | and |
property | rent | machinery | fittings | Totals |
£ | £ | £ | £ | £ |
Valuation in 2014 | 1,197,130 | 27,904 | 1,262 | 6,407 | 1,232,703 |
Valuation in 2015 | 300,000 | - | - | - | 300,000 |
Cost | 2,870 | - | - | - | 2,870 |
1,500,000 | 27,904 | 1,262 | 6,407 | 1,535,573 |
If freehold property had not been revalued it would have been included at the following historical cost: |
31.12.21 | 31.12.20 |
£ | £ |
Cost | 2,870 | 2,870 |
Freehold property was valued on a fair value basis on 31 December 2015 by Parkinson Commercial Property Consultants . |
In the opinion of the directors the fair value of the existing use of the company's freehold property at 31 December 2021 is not materially different from the book value as stated in these financial statements. |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 January 2021 |
and 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
Fair value at 31 December 2021 is represented by: |
£ |
Cost | 2,264,500 |
If investment property had not been revalued it would have been included at the following historical cost: |
31.12.21 | 31.12.20 |
£ | £ |
Cost | 623,462 | 623,462 |
Investment property was valued on an open market basis basis on 31 December 2019 by Healy Simpson Limited . |
In the opinion of the directors the fair value for the existing use of the company's investment properties at 31 December 2021 is not materially different from the book value as stated in these financial statements. |
WIGAN MINING & RESTORATION CO. LIMITED (REGISTERED NUMBER: 00934051) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Trade creditors |
Other creditors |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.21 | 31.12.20 |
value: | £ | £ |
Ordinary | £1 | 1,000 | 1,000 |
9. | ULTIMATE PARENT UNDERTAKING |
The company is a wholly owned subsidiary of Greenbank Group Holdings Limited. |
10. | CONTROLLING INTEREST |
As shareholders of Greenbank Group Holdings Limited the Trustees of the Baybutt Family Trusts have a controlling interest in the company. |