The Walsingham Estate Company Filleted accounts for Companies House (small and micro)

The Walsingham Estate Company Filleted accounts for Companies House (small and micro)

WALSINGHAM ESTATE COMPANY,(THE) - Company Information

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COMPANY REGISTRATION NUMBER: 00215638
The Walsingham Estate Company
Unaudited financial statements
31 December 2022
The Walsingham Estate Company
Statement of financial position
31 December 2022
2022
2021
Note
£
£
£
£
Fixed assets
Investments
7
17,744,748
17,832,124
Current assets
Debtors
8
7,856
8,246
Cash at bank and in hand
49,593
51,631
-------
-------
57,449
59,877
Creditors: Amounts falling due within one year
9
( 277,965)
( 40,847)
---------
-------
Net current (liabilities)/assets
( 220,516)
19,030
------------
------------
Total assets less current liabilities
17,524,232
17,851,154
------------
------------
Net assets
17,524,232
17,851,154
------------
------------
Capital and reserves
Called up share capital
101,000
101,000
Revaluation reserve
736,269
823,645
Other reserves
10,930
10,930
Profit and loss account
16,676,033
16,915,579
------------
------------
Shareholders funds
17,524,232
17,851,154
------------
------------
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 income statement has not been delivered.
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 19 September 2023 , and are signed on behalf of the board by:
W J C Meath Baker
Director
Company registration number: 00215638
The Walsingham Estate Company
Notes to the financial statements
Year ended 31 December 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Walsingham Abbey, Sunk Road, Walsingham, Norfolk, NR22 6DQ.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity. The company is a member of a small group and as such is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the company as an individual undertaking and not about its sub-group.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
4. Employee numbers
The average number of employees during the year was 5 (2021: 5 ).
5. Tax on profit
Major components of tax (income)/expense
2022
2021
£
£
Current tax:
UK current tax expense
–
20,399
Group relief tax credit
( 3,738)
–
------
-------
Total current tax
( 3,738)
20,399
------
-------
------
-------
Tax on profit
( 3,738)
20,399
------
-------
6. Dividends
2022
2021
£
£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )
247,450
232,300
---------
---------
7. Investments
Shares in group undertakings
Listed investment
Total
£
£
£
Cost
At 1 January 2022
16,658,189
1,173,935
17,832,124
Additions
–
286
286
Disposals
–
( 286)
( 286)
Revaluations
–
( 87,376)
( 87,376)
------------
-----------
------------
At 31 December 2022
16,658,189
1,086,559
17,744,748
------------
-----------
------------
Impairment
At 1 January 2022 and 31 December 2022
–
–
–
------------
-----------
------------
Carrying amount
At 31 December 2022
16,658,189
1,086,559
17,744,748
------------
-----------
------------
At 31 December 2021
16,658,189
1,173,935
17,832,124
------------
-----------
------------
If the listed investments had been accounted for under the historic cost accounting rules, the investments would have been measured at £350,289 (2021: £350,289).
8. Debtors
2022
2021
£
£
Trade debtors
–
3,958
Amounts owed by group undertakings and undertakings in which the company has a participating interest
7,856
4,118
Other debtors
–
170
------
------
7,856
8,246
------
------
Short term debtors are measured at transaction price, less any impairment.
9. Creditors: Amounts falling due within one year
2022
2021
£
£
Trade creditors
–
1,725
Amounts owed to group undertakings and undertakings in which the company has a participating interest
23,965
14,723
Social security and other taxes
–
20,399
Other creditors
254,000
4,000
---------
-------
277,965
40,847
---------
-------
Short term creditors are measured at the transaction price.