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COMPANY REGISTRATION NUMBER: 08075931
Wesley Homes Holdings Limited
Filleted Unaudited Financial Statements
31 March 2022
Wesley Homes Holdings Limited
Financial Statements
Year ended 31 March 2022
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
Wesley Homes Holdings Limited
Statement of Financial Position
31 March 2022
2022
2021
Note
£
£
£
Fixed assets
Investments
4
1
1
Current assets
Debtors
5
15,568
15,568
Creditors: amounts falling due within one year
6
1,091
1,091
--------
--------
Net current assets
14,477
14,477
--------
--------
Total assets less current liabilities
14,478
14,478
--------
--------
Net assets
14,478
14,478
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
14,378
14,378
--------
--------
Shareholder funds
14,478
14,478
--------
--------
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 statement of income and retained earnings has not been delivered.
For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his 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 30 September 2023 , and are signed on behalf of the board by:
Mr R J W Fletcher
Director
Company registration number: 08075931
Wesley Homes Holdings Limited
Notes to the Financial Statements
Year ended 31 March 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 Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN.
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.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Investments
Shares in group undertakings
£
Cost
At 1 April 2021 and 31 March 2022
1
----
Impairment
At 1 April 2021 and 31 March 2022
----
Carrying amount
At 31 March 2022
1
----
At 31 March 2021
1
----
5. Debtors
2022
2021
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
15,568
15,568
--------
--------
6. Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
90
90
Other creditors
1,001
1,001
-------
-------
1,091
1,091
-------
-------
7. Related party transactions
At the year end a company related by common control owed the company £15,568 (2021: £15,568).