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REGISTERED NUMBER: 05774529 (England and Wales)










Financial Statements

for the Year Ended

31 December 2021

for

Willowdene Resources Ltd

Willowdene Resources Ltd (Registered number: 05774529)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Willowdene Resources Ltd

Company Information
for the Year Ended 31 December 2021







DIRECTOR: Dr M C W Home
Mrs S L Home





REGISTERED OFFICE: Willowdene Farm
Chorley
Bridgnorth
WV16 6PP





REGISTERED NUMBER: 05774529 (England and Wales)





ACCOUNTANTS: Godfrey Mansell & Co
Hales Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT

Willowdene Resources Ltd (Registered number: 05774529)

Balance Sheet
31 December 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 989,256 960,331

CURRENT ASSETS
Stocks 5 39,500 39,500
Debtors 6 64,448 57,776
Cash at bank and in hand 677 677
104,625 97,953
CREDITORS
Amounts falling due within one year 7 277,061 286,763
NET CURRENT LIABILITIES (172,436 ) (188,810 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

816,820

771,521

CREDITORS
Amounts falling due after more than one
year

8

(54,577

)

(4,445

)

PROVISIONS FOR LIABILITIES 9 (33,200 ) (33,200 )
NET ASSETS 729,043 733,876

CAPITAL AND RESERVES
Called up share capital 3 3
Revaluation reserve 10 587,308 587,308
Retained earnings 10 141,732 146,565
729,043 733,876

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Willowdene Resources Ltd (Registered number: 05774529)

Balance Sheet - continued
31 December 2021


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 July 2022 and were signed by:





Dr M C W Home - Director


Willowdene Resources Ltd (Registered number: 05774529)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

Willowdene Resources Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Buildings: Straight line over 25 years
Plant & Machinery: @15% reducing balance
Motor Vehicles: @25% reducing balance
Fixtures: @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.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

Willowdene Resources Ltd (Registered number: 05774529)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

4. TANGIBLE FIXED ASSETS
Freehold Expression Plant and
Land Centre machinery
£    £    £   
COST OR VALUATION
At 1 January 2021 545,270 240,000 350,891
Additions 28,993 - 67,780
Disposals - - (21,500 )
At 31 December 2021 574,263 240,000 397,171
DEPRECIATION
At 1 January 2021 19,274 - 162,971
Charge for year 20,976 - 30,634
Eliminated on disposal - - (5,966 )
At 31 December 2021 40,250 - 187,639
NET BOOK VALUE
At 31 December 2021 534,013 240,000 209,532
At 31 December 2020 525,996 240,000 187,920

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST OR VALUATION
At 1 January 2021 1,499 33,781 1,171,441
Additions 1,200 - 97,973
Disposals - - (21,500 )
At 31 December 2021 2,699 33,781 1,247,914
DEPRECIATION
At 1 January 2021 1,499 27,366 211,110
Charge for year 300 1,604 53,514
Eliminated on disposal - - (5,966 )
At 31 December 2021 1,799 28,970 258,658
NET BOOK VALUE
At 31 December 2021 900 4,811 989,256
At 31 December 2020 - 6,415 960,331

Willowdene Resources Ltd (Registered number: 05774529)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31st December 2021 is as follows:






Freehold land
& Buildings

TrainingCentre
Expression
Centre
£££
At cost35,114--
At valuation
31 December 2021537,140-240,000


31 December 2021572,254-240,000

The Training Centre has been reclassified as part of the agricultural buildings with it's changed use.

If the freehold land had not been included at valuation, it would have been included under the historical cost convention as follows:

20212020
££
Cost146,706146,706
accumulated depreciation--
Net book value146,706146,706

If the Training Centre had not been included at valuation, it would have been included under the historical cost convention as follows:

20212020
Cost130,441130,441
accumulated depreciation(114,537)(109,570)
Net book value15,90420,871

If the Expression Centre had not been included at valuation it would have been included under the historical cost convention as follows

20212020
££
Cost581,838581,838
accumulated depreciation(515,306)(488,744)
Net book value66,53293,094

The Net book value of assets held under finance leases or HP contracts above are as follows:-

20212020
££
Motor vehicles-6,415
Plant & Machinery76,22529,335
Net book value76,22535,750

Willowdene Resources Ltd (Registered number: 05774529)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

4. TANGIBLE FIXED ASSETS - continued

Revaluation gains and losses are recognised in the statement of total recognised gains and losses unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the losses are recognised in the profit and loss account.

During August 2020 a valuation of all the land and property was obtained from Halls, a qualified valuer. The valuation has been restated in the accounts to 31st December 2019 to better reflect the activities of the business. The directors had also obtained a current valuation of the plant and machinery in use and this was restated in the accounts to 31st December 2019.

A full valuation is usually obtained from a qualified valuer every five years, with an interim valuation every year after the previous full valuation.

5. STOCKS
2021 2020
£    £   
Stocks 39,500 39,500

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors - 7,800
Other debtors 64,448 49,976
64,448 57,776

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 152,320 172,696
Hire purchase contracts 12,527 7,450
Trade creditors 20,131 5,588
VAT - 7,349
Other Creditors 88,809 90,406
Accruals and deferred income 3,274 3,274
277,061 286,763

The bank loans and overdraft of £152,320 (2020: £172,696) are secured under a fixed and floating charge over the assets of the company. The Hire Purchase agreement of £12,527 (2020: £7,450) are secured over the assets to which they relate.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021 2020
£    £   
Bank loans - 1-2 years 32,910 4,445
Hire purchase contracts 21,667 -
54,577 4,445

The bank loans of £32,910 (2020: £4,445) are secured under a fixed and floating charge over the assets of the company. The Hire Purchase agreement of £21,667 (2020: £nil) is secured over the assets to which they relate

9. PROVISIONS FOR LIABILITIES
2021 2020
£    £   
Deferred tax 33,200 33,200

Willowdene Resources Ltd (Registered number: 05774529)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2021 33,200
Balance at 31 December 2021 33,200

10. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 January 2021 146,565 587,308 733,873
Profit for the year 16,717 16,717
Dividends (21,550 ) (21,550 )
At 31 December 2021 141,732 587,308 729,040

11. RELATED PARTY DISCLOSURES

The Company charged £1,597 (2020:£nil) to Willowdene Rehabilitation Ltd, a company which Mr J A C Home and Dr M C W Home are directors. At the year end an amount of £53,661 (2020: £55,258) was due to Willowdene Rehabilitation Ltd.

The company was paid £nil (2020: £25,355) by Stanley Farm Enterprises LLP and at the year end an amount of £49,976 (2020: £49,976) was due from Stanley Farm Enterprises LLP.

The company was paid £10,247 by Rite Social Enterprises, a company in which Dr M C W Home is a director. At the year end an amount of £10,247 was due from Rites Social Enterprises.

At the year end the balance due to Mr J.A.C. Home was £nil (2020: £nil) and to Dr. M.C.W. Home was £35,148 (2020: £35,148).

Dividends of £21,550 were paid to Dr. M C W Home and Mrs S.L. Home during the year.

12. POST BALANCE SHEET EVENTS

On the 1st January 2022 the assets and liabilities of Stanley Farm Enterprises LLP were transferred to Willowdene Resources Ltd

13. ULTIMATE CONTROLLING PARTY

The company was under the control of Dr M C W Home along with the other director Mrs S.L. Home