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REGISTERED NUMBER: 11166757 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

W E BLACK FINANCE LIMITED

W E BLACK FINANCE LIMITED (REGISTERED NUMBER: 11166757)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


W E BLACK FINANCE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTORS: E J S Gadsden
J Long





SECRETARY: J Long





REGISTERED OFFICE: Hawridge Place
Hawridge
Chesham
HP5 2ZD





REGISTERED NUMBER: 11166757 (England and Wales)





AUDITORS: EV Accountants Limited
Chartered Accountants & Statutory Auditors
Unit 201, Second Floor
Metroline House
118-122 College Road
Harrow
Middlesex
HA1 1BQ

W E BLACK FINANCE LIMITED (REGISTERED NUMBER: 11166757)

BALANCE SHEET
31 DECEMBER 2022

2022 2021
Notes £    £   
CURRENT ASSETS
Debtors 4 101,237,123 81,262,262

CREDITORS
Amounts falling due within one year 5 (85,537,524 ) (69,380,751 )
NET CURRENT ASSETS 15,699,599 11,881,511
TOTAL ASSETS LESS CURRENT
LIABILITIES

15,699,599

11,881,511

CAPITAL AND RESERVES
Called up share capital 6 100 100
Retained earnings 7 15,699,499 11,881,411
SHAREHOLDERS' FUNDS 15,699,599 11,881,511

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 30 September 2023 and were signed on its behalf by:





E J S Gadsden - Director


W E BLACK FINANCE LIMITED (REGISTERED NUMBER: 11166757)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1. STATUTORY INFORMATION

W E Black Finance 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.

Going concern
The financial statements have been prepared on a going concern basis as the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for a period of at least twelve months from the date of approval of these financial statements.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

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 2 (2021 - 2 ) .

W E BLACK FINANCE LIMITED (REGISTERED NUMBER: 11166757)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Amounts owed by group undertakings 18,490,000 18,490,000
Amounts owed by connected companies 1,976,093 -
Other debtors 80,609,243 62,354,248
Prepayments and accrued income 161,787 418,014
101,237,123 81,262,262

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Amounts owed to group undertakings 56,044,709 42,945,998
Amounts owed to connected companies 28,699,368 25,407,619
Tax 663,906 57,133
Other creditors 124,741 965,201
Accruals and deferred income 4,800 4,800
85,537,524 69,380,751

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100 Ordinary £1 100 100

7. RESERVES
Retained
earnings
£   

At 1 January 2022 11,881,411
Profit for the year 3,818,088
At 31 December 2022 15,699,499

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Binoy Mistry BA FCA (Senior Statutory Auditor)
for and on behalf of EV Accountants Limited

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

W E BLACK FINANCE LIMITED (REGISTERED NUMBER: 11166757)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

9. RELATED PARTY DISCLOSURES - continued

The company owed £22,602,240 (2021 - £19,310,491) to Three Rivers Property Investments Limited, a company in which E J S Gadsden is a director.

Amounts owed to connected companies include £6,097,128 (2021 - £6,097,128) which is due to Church Cottage Investments Limited, a company in which E J S Gadsden is a director and shareholder.

Amounts owed by connected companies include £1,976,093 (2021 - £Nil) which is due from Blackridge South Parade Ltd, a company in which E J S Gadsden is a director.

Other debtors due within one year includes an amount of £1,441,000 (2021 - £1,441,000) owed from L Russell, who is the daughter of the director, E J S Gadsden.

10. ULTIMATE CONTROLLING PARTY

The ultimate parent company is W.E.Black Limited, whose registered office is Hawridge Place, Hawridge Common, Hawridge, Chesham, Buckinghamshire, HP5 2ZD.

The accounts of the company are included in the consolidated accounts of W.E.Black Limited. The consolidated accounts of W.E.Black Limited can be obtained from its registered office.

The ultimate controlling party is E J S Gadsden, who is a director and majority shareholder of W.E.Black Limited.