2 false false false false false false false false false false true false false false false false false No description of principal activity 2021-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 409,641 11,030 427,000 116,797 110,468 110,468 409,641 xbrli:pure xbrli:shares iso4217:GBP 08077403 2021-04-01 2022-03-31 08077403 2022-03-31 08077403 2021-03-31 08077403 2020-04-01 2021-03-31 08077403 2021-03-31 08077403 2020-03-31 08077403 bus:Director1 2021-04-01 2022-03-31 08077403 core:WithinOneYear 2022-03-31 08077403 core:WithinOneYear 2021-03-31 08077403 core:ShareCapital 2022-03-31 08077403 core:ShareCapital 2021-03-31 08077403 core:RevaluationReserve 2022-03-31 08077403 core:RevaluationReserve 2021-03-31 08077403 core:RetainedEarningsAccumulatedLosses 2022-03-31 08077403 core:RetainedEarningsAccumulatedLosses 2021-03-31 08077403 bus:SmallEntities 2021-04-01 2022-03-31 08077403 bus:AuditExemptWithAccountantsReport 2021-04-01 2022-03-31 08077403 bus:SmallCompaniesRegimeForAccounts 2021-04-01 2022-03-31 08077403 bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 08077403 bus:FullAccounts 2021-04-01 2022-03-31 08077403 core:IntangibleAssetsOtherThanGoodwill 2021-03-31 08077403 core:IntangibleAssetsOtherThanGoodwill 2021-04-01 2022-03-31 08077403 core:IntangibleAssetsOtherThanGoodwill 2022-03-31
COMPANY REGISTRATION NUMBER: 08077403
Wesley Homes Properties (Saxton Street) Limited
Filleted Unaudited Financial Statements
31 March 2022
Wesley Homes Properties (Saxton Street) Limited
Financial Statements
Year ended 31 March 2022
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
Wesley Homes Properties (Saxton Street) Limited
Statement of Financial Position
31 March 2022
2022
2021
(restated)
Note
£
£
£
Fixed assets
Intangible assets
5
110,468
409,641
Current assets
Cash at bank and in hand
6,795
29,680
Creditors: amounts falling due within one year
6
23,539
79,463
--------
--------
Net current liabilities
16,744
49,783
---------
---------
Total assets less current liabilities
93,724
359,858
--------
---------
Net assets
93,724
359,858
--------
---------
Capital and reserves
Called up share capital
1
1
Revaluation reserve
78,562
( 38,235)
Profit and loss account
15,161
398,092
--------
---------
Shareholder funds
93,724
359,858
--------
---------
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 comprehensive income 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: 08077403
Wesley Homes Properties (Saxton Street) 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.
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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
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. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2021: 2 ).
5. Intangible assets
Share investments
£
Cost
At 1 April 2021 (as restated)
409,641
Additions
11,030
Disposals
( 427,000)
Revaluations
116,797
---------
At 31 March 2022
110,468
---------
Amortisation
At 1 April 2021 and 31 March 2022
---------
Carrying amount
At 31 March 2022
110,468
---------
At 31 March 2021
409,641
---------
6. Creditors: amounts falling due within one year
2022
2021
(restated)
£
£
Trade creditors
3,126
Amounts owed to group undertakings and undertakings in which the company has a participating interest
15,568
15,568
Corporation tax
1,965
5,424
Other creditors
6,006
55,345
--------
--------
23,539
79,463
--------
--------
7. Related party transactions
At the period end the company owed a Director £1,906 (2021: £53,495). At the period end the company owed a company related by common control £15,568 (2021: £15,568).
8. Controlling party
The company's immediate and ultimate parent company at the balance sheet date is Wesley Homes Holdings Limited, a company incorporated in England and Wales. The registered office of the company is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN.