Wards Homes Ltd
Wards Homes Ltd
Registered number: 13340057
ABRIDGED Financial Statements
For The Year Ended
31 May 2023
Dodgson Matty Partnership
22 The Tything
Worcester
WR1 1HD
Wards Homes Ltd
Financial Statements
For The Year Ended
31 May 2023
Financial Statements
| Contents | |
| Page | |
|---|---|
| Abridged Balance Sheet | 1—2 |
| Notes to the Abridged Financial Statements | 3—5 |
Page 1
Wards Homes Ltd
Abridged Balance Sheet
As At
31 May 2023
Abridged Balance Sheet
Registered number:
13340057
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 May 2023 in accordance with section 444(2A) of the Companies Act 2006.
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 4 |
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| Investment Properties | 5 |
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| CURRENT ASSETS | |||||
| Debtors |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year |
( |
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| NET CURRENT ASSETS (LIABILITIES) |
( |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year |
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| NET ASSETS/(LIABILITIES) |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 6 |
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| Fair Value Reserve | 7 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 163,414 | (21,312) | |||
Page 1
Page 2
Wards Homes Ltd
Abridged Balance Sheet (continued)
As At
31 May 2023
On behalf of the board
|
Director
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The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Wards Homes Ltd
Notes to the Abridged Financial Statements
For The Year Ended
31 May 2023
Notes to the Abridged Financial Statements
1.
General Information
Wards Homes Ltd
is a private company, limited by shares, incorporated in England & Wales, registered number
13340057
. The registered office is 22 The Tything, Worcester, WR1 1HD.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
2.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Fixtures & Fittings |
|
2.4.
Investment Properties
All investment properties are carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
Page 3
Page 4
Wards Homes Ltd
Notes to the Abridged Financial Statements (continued)
For The Year Ended
31 May 2023
4.
Tangible Assets
| Total | |
|---|---|
| £ | |
| Cost or Valuation | |
| As at
|
|
| Additions |
|
| As at
|
|
| Net Book Value | |
| As at
|
|
| As at
|
|
5.
Investment Property
| 2023 | |
|---|---|
| £ | |
| Fair Value | |
| As at
|
|
| Additions |
|
| Revaluations | 270,138 |
| As at
|
|
6.
Share Capital
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Allotted, Called up and fully paid |
|
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|
7.
Reserves
| Fair Value Reserve | |
|---|---|
| £ | |
| Transfer to profit and loss |
|
| As at
|
|
Page 4
Page 5
Wards Homes Ltd
Notes to the Abridged Financial Statements (continued)
For The Year Ended
31 May 2023
8.
Related Party Transactions
Intercompany balances
At the balance sheet date the company owed £16,625 to Wards Gardens Ltd, a company under common control.
This amount was repayable on demand and not subject to interest.
Transactions with the Director
At the balance sheet date the company owed £269,160 to Mr T A Ward, the controlling party and Director.
This amount was repayable subject to the Company's cash position and subject to interest at HMRC's approved rate of interest.
9.
Ultimate Controlling Party
The company is controlled by the Director.
Page 5