Werndale Properties Limited - Accounts

Werndale Properties Limited - Accounts

WERNDALE PROPERTIES LIMITED - Company Information

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Registered Number: 01596315
England & Northern Ireland

 

 

 

WERNDALE PROPERTIES LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 April 2022

End date: 31 March 2023

Werndale Properties Limited
Contents Page
For the year ended 31 March 2023
Accountants' report on the unaudited financial statements to the directors of Werndale Properties Limited.

In accordance with our terms of engagement and in order to assist you to fulfill your duties under the Companies Act 2006, we have compiled the financial statements of the company for the year ended 31 March 2023 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records and information and explanations you have given to us.

This report is made to the company's Board of Directors, as a body, in accordance with the terms of our engagement.  Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company's Board of Directors that we have done so and state those matter that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's Board of Directors, as a body, for our work or for this report.

You have acknowledged on the Balance Sheet as at year ended 31 March 2023 your duty to ensure that the company has kept the correct accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt form statutory requirement for an audit for the period.

We have not been instructed to carry out and audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.




....................................................
Stonebridge Accountants
19a Chorley Old Road
Bolton
BL1 3AD
07 September 2023
1
 
 		 Notes
 		 2023
£		   2022
£
Fixed assets      
Tangible fixed assets 3 344,889    322,648 
344,889    322,648 
Current assets      
Debtors 256,824    228,402 
Cash at bank and in hand 707,959    578,361 
964,783    806,763 
Creditors: amount falling due within one year (233,112)   (223,421)
Net current assets 731,671    583,342 
 
Total assets less current liabilities 1,076,560    905,990 
Provisions for liabilities (53,210)   (55,392)
Net assets 1,023,350    850,598 
 

Capital and reserves 		     
Called up share capital 4 23,800    23,800 
Profit and loss account 999,550    826,798 
Shareholder's funds 1,023,350    850,598 
 


For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 07 September 2023 and were signed on its behalf by:


-------------------------------
Mr Kevin S Newport
Director
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General Information
Werndale Properties Limited is a private company, limited by shares, registered in England & Northern Ireland, registration number 01596315, registration address 19 Chorley Old Road, Bolton, BL1 3AD.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company's liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.


Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.

Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 15% Reducing Balance
Motor Vehicles 25% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 14 (2022 : 15).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Total
  £   £   £
At 01 April 2022 578,395    121,379    699,774 
Additions 72,632    49,733    122,365 
Disposals (45,905)   (33,423)   (79,328)
At 31 March 2023 605,122    137,689    742,811 
Depreciation
At 01 April 2022 294,221    82,905    377,126 
Charge for year 44,876    16,033    60,909 
On disposals (17,009)   (23,104)   (40,113)
At 31 March 2023 322,088    75,834    397,922 
Net book values
Closing balance as at 31 March 2023 283,034    61,855    344,889 
Opening balance as at 01 April 2022 284,174    38,474    322,648 


4.

Share Capital

Authorised
23,800 Class A shares of £1.00 each
Allotted, called up and fully paid
2023
£		   2022
£
23,800 Class A shares of £1.00 each 23,800    23,800 
23,800    23,800 

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