Withy Trees Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 01359067 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 August 2022

for

Withy Trees Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

L J Baron

A J Baron

SECRETARY:

J M Baron

REGISTERED OFFICE:

Hazlemere

70 Chorley New Road

Bolton

Lancashire

BL1 4BY

REGISTERED NUMBER:

01359067 (England and Wales)

ACCOUNTANTS:

DonnellyBentley Limited

Chartered Accountants

Hazlemere

70 Chorley New Road

Bolton

Lancashire

BL1 4BY

BANKERS:

Barclays Bank plc

FIXED ASSETS

Tangible assets

4

2,118,597

2,075,553

CURRENT ASSETS

Stocks

1,022

649

Debtors

5

129,680

25,307

Cash at bank and in hand

17

989

130,719

26,945

CREDITORS

Amounts falling due within one year

6

644,903

490,924

NET CURRENT LIABILITIES

(514,184

)

(463,979

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,604,413

1,611,574

CREDITORS

Amounts falling due after more than one year

7

18,035

25,520

NET ASSETS

1,586,378

1,586,054

CAPITAL AND RESERVES

Called up share capital

9

950

950

Capital redemption reserve

50

50

Retained earnings

1,585,378

1,585,054

SHAREHOLDERS' FUNDS

1,586,378

1,586,054

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

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

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.

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 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 18 May 2023 and were signed on its behalf by:

L J Baron - Director

1.	STATUTORY INFORMATION

Withy Trees 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.

Turnover

Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods and services falling within the company's ordinary activities.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

25% on reducing balance

Freehold property is no longer depreciated as, in the opinion of the directors, the estimated remaining useful economic life of the tangible fixed asset exceeds 50 years.

Freehold property is held at cost and is reviewed by the directors for impairment, in accordance with FRS11, at the end of each reporting period. Any surplus or deficit arising is taken to the profit and loss account.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme in respect of the directors and certain staff. The scheme and its assets are held separately from the company's assets by independent managers. The pension costs charged in the financial statements represent the contribution payable by the company during the year.

Investments

Fixed asset investments are stated at cost less provision for permanent diminution in value.

Going concern

The accounts have been prepared on a going concern basis, the validity of which is, to some extent, dependent upon recoverability of the amounts due from connected companies. These companies are, in turn, supported by the director, Mr A J Baron.

Group accounts

The company is entitled to the exemption under Section 398 of the Companies Act 2006 from the obligation to prepare group accounts.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2021 - 18 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

and

Computer

leasehold

fittings

equipment

Totals

£

£

£

£

COST

At 1 September 2021

2,151,061

252,648

10,549

2,414,258

Additions

54,875

-

-

54,875

At 31 August 2022

2,205,936

252,648

10,549

2,469,133

DEPRECIATION

At 1 September 2021

151,976

179,795

6,934

338,705

Charge for year

-

10,927

904

11,831

At 31 August 2022

151,976

190,722

7,838

350,536

NET BOOK VALUE

At 31 August 2022

2,053,960

61,926

2,711

2,118,597

At 31 August 2021

1,999,085

72,853

3,615

2,075,553

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Fixtures

and

fittings

£

COST

At 1 September 2021

and 31 August 2022

38,748

DEPRECIATION

At 1 September 2021

5,812

Charge for year

4,940

At 31 August 2022

10,752

NET BOOK VALUE

At 31 August 2022

27,996

At 31 August 2021

32,936

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

3,771

1,817

Other debtors

100,071

15,894

VAT

16,479

-

Prepayments and accrued income

9,359

7,596

129,680

25,307

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

2,614

-

Hire purchase contracts

7,485

7,485

Trade creditors

43,728

20,048

Social security and other taxes

1,330

1,793

VAT

-

1,246

Other creditors

124,341

132,484

Amount owed to connected

companies

369,624

220,840

Directors' current accounts

71,767

84,026

Accruals and deferred income

24,014

23,002

644,903

490,924

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Hire purchase contracts

18,035

25,520

8.	SECURED DEBTS

The following secured debts are included within creditors:

2022

2021

£

£

Bank overdraft

2,614

-

Hire purchase contracts

25,520

33,005

28,134

33,005

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

950

Ordinary

£1

950

950

10.	RELATED PARTY DISCLOSURES

Mr A J Baron, has provided a Limited Guarantee to Barclays Bank plc for £100,000.

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A.J. Baron (Holdings) Ltd.