Wheatcroft Land Limited - Accounts to registrar (filleted) - small 23.2.5

Wheatcroft Land Limited - Accounts to registrar (filleted) - small 23.2.5

WHEATCROFT LAND LIMITED - Company Information

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REGISTERED NUMBER: 02451400 (England and Wales)



















Financial Statements

for the Year Ended 30 September 2023

for

Wheatcroft Land Limited
Wheatcroft Land Limited (Registered number: 02451400)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Wheatcroft Land Limited

Company Information
for the Year Ended 30 September 2023







DIRECTORS: Mrs C L Haward
C C Haward





REGISTERED OFFICE: Suite 1
Woodside House
218 London Road
Leicester
Leicestershire
LE2 1NE





REGISTERED NUMBER: 02451400 (England and Wales)





ACCOUNTANTS: Bates Weston LLP
Chartered Accountants
The Mills
Canal Street
Derby
DE1 2RJ
Page 1
Wheatcroft Land Limited (Registered number: 02451400)

Balance Sheet
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,450 5,097
Investments 5 700 600
Investment property 6 4,180,000 4,180,000
4,185,150 4,185,697

CURRENT ASSETS
Debtors 7 4,358,604 3,601,678
Cash at bank and in hand 1,920,547 1,671,951
6,279,151 5,273,629
CREDITORS
Amounts falling due within one year 8 358,420 724,492
NET CURRENT ASSETS 5,920,731 4,549,137
TOTAL ASSETS LESS CURRENT
LIABILITIES
10,105,881
8,734,834

CREDITORS
Amounts falling due after more than one
year
9
(436,949
)
(212,420
)

PROVISIONS FOR LIABILITIES 11 (651,055 ) (651,055 )
NET ASSETS 9,017,877 7,871,359

CAPITAL AND RESERVES
Called up share capital 233,744 233,744
Fair value reserve 12 2,630,713 2,630,713
Capital redemption reserve 12 116,356 116,356
Retained earnings 12 6,037,064 4,890,546
SHAREHOLDERS' FUNDS 9,017,877 7,871,359

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 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 notes form part of these financial statements

Page 2 continued...
Wheatcroft Land Limited (Registered number: 02451400)

Balance Sheet - continued
30 September 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 March 2024 and were signed on its behalf by:





Mrs C L Haward - Director


The notes form part of these financial statements

Page 3
Wheatcroft Land Limited (Registered number: 02451400)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Wheatcroft Land 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents sales of property and rental income receivable, excluding value added tax. Rentals from operating leases are credited to revenue over the period to which they relate.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

Investment property
Investment property is not depreciated but is revalued annually at its fair value, in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss and transferred to a fair value reserve.

Deferred tax
Provision is made at current rates for taxation deferred in respect of all material timing differences, including provisions made for potential tax arising on assets which have been revalued.

Investments
Unlisted investments are stated at cost less any permanent diminution in value.

Group accounts
In accordance with the exemptions given by the Companies Act 2006, the company has not produced group financial statements because it heads a small group.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 2 ) .

Page 4 continued...
Wheatcroft Land Limited (Registered number: 02451400)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 October 2022 43,523 11,173 54,696
Additions 292 2,297 2,589
At 30 September 2023 43,815 13,470 57,285
DEPRECIATION
At 1 October 2022 41,356 8,243 49,599
Charge for year 369 2,867 3,236
At 30 September 2023 41,725 11,110 52,835
NET BOOK VALUE
At 30 September 2023 2,090 2,360 4,450
At 30 September 2022 2,167 2,930 5,097

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 October 2022 600
Additions 200
Disposals (100 )
At 30 September 2023 700
NET BOOK VALUE
At 30 September 2023 700
At 30 September 2022 600

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022
and 30 September 2023 4,180,000
NET BOOK VALUE
At 30 September 2023 4,180,000
At 30 September 2022 4,180,000

Fair value at 30 September 2023 is represented by:
£   
Valuation in 2023 4,180,000

Page 5 continued...
Wheatcroft Land Limited (Registered number: 02451400)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

6. INVESTMENT PROPERTY - continued

If investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 898,233 898,233
Aggregate depreciation (520,977 ) (503,012 )

Investment properties were valued on a fair value basis on 30 September 2023 by the director .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,490 2,490
Amounts owed by group undertakings 4,335,533 3,582,455
Other debtors 535 6,500
Director's current account - 113
Tax 7,117 3,218
Prepayments 12,929 6,902
4,358,604 3,601,678

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 27,500 36,120
Pension fund loan account 177,790 102,081
Trade creditors 11,660 819
Amounts owed to group undertakings 61,345 503,234
Tax 5,374 8,402
Social security and other taxes 15,337 20,205
Other creditors 1,553 -
Accruals and deferred income 57,861 53,631
358,420 724,492

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Pension fund loan account 436,949 212,420

10. LEASING AGREEMENTS
The minimum lease payments on non-cancellable operating leases committed to being received are £202,500 (2022 - £472,500).

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 651,055 651,055

Page 6 continued...
Wheatcroft Land Limited (Registered number: 02451400)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

11. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 October 2022 651,055
Balance at 30 September 2023 651,055

12. RESERVES
Fair Capital
Retained value redemption
earnings reserve reserve Totals
£    £    £    £   

At 1 October 2022 4,890,546 2,630,713 116,356 7,637,615
Profit for the year 1,190,518 1,190,518
Dividends (44,000 ) (44,000 )
At 30 September 2023 6,037,064 2,630,713 116,356 8,784,133

Page 7