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REGISTERED NUMBER: 12293987 (England and Wales)










The Old Wheatsheaf Buildings Limited

Unaudited Financial Statements

for the Year Ended 30 November 2022






The Old Wheatsheaf Buildings Limited (Registered number: 12293987)






Contents of the Financial Statements
for the year ended 30 November 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


The Old Wheatsheaf Buildings Limited

Company Information
for the year ended 30 November 2022







DIRECTORS: Mr M T Parry
Mr H Vaughan





REGISTERED OFFICE: Brenig House Cartrefi Conwy Business Par
Station Road
Mochdre
Conwy
LL28 5EF





REGISTERED NUMBER: 12293987 (England and Wales)





ACCOUNTANTS: Salisbury & Company
Chartered Accountants
Irish Square
Upper Denbigh Road
St Asaph
Denbighshire
LL17 0RN

The Old Wheatsheaf Buildings Limited (Registered number: 12293987)

Balance Sheet
30 November 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 290,422 20,000

CURRENT ASSETS
Debtors 5 56,945 40,559
Cash at bank 146 6,425
57,091 46,984
CREDITORS
Amounts falling due within one year 6 60,535 31,716
NET CURRENT (LIABILITIES)/ASSETS (3,444 ) 15,268
TOTAL ASSETS LESS CURRENT
LIABILITIES

286,978

35,268

CREDITORS
Amounts falling due after more than one
year

7

295,575

45,395
NET LIABILITIES (8,597 ) (10,127 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (8,697 ) (10,227 )
(8,597 ) (10,127 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2022 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 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 2 October 2023 and were signed on its behalf by:





Mr M T Parry - Director


The Old Wheatsheaf Buildings Limited (Registered number: 12293987)

Notes to the Financial Statements
for the year ended 30 November 2022

1. STATUTORY INFORMATION

The Old Wheatsheaf Buildings 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.

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
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:

Freehold land and buildings - not depreciated until ready for use

Non-depreciation of the property is a departure from the Companies Act 2006, but in the directors' opinion is necessary to give a true and fair view. The property will not be depreciated until ready for use.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

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 ) .

The Old Wheatsheaf Buildings Limited (Registered number: 12293987)

Notes to the Financial Statements - continued
for the year ended 30 November 2022

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1 December 2021 20,000
Additions 270,422
At 30 November 2022 290,422
NET BOOK VALUE
At 30 November 2022 290,422
At 30 November 2021 20,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Amounts owed by related parties 53,565 37,806
Other debtors 3,380 2,753
56,945 40,559

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 4,292 -
Trade creditors 20,501 616
Other creditors 25,742 21,100
60,535 31,716

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans 285,180 35,000
Other creditors 10,395 10,395
295,575 45,395

Bank loans due over one year of £257,680 (2021: £nil) are secured by a fixed charge over the assets of the company.

8. RELATED PARTY DISCLOSURES

At the balance sheet date amounts totalling £20,815 (2021: £37,806) were owed by Brenig Construction Limited, a company in which M Parry and H Vaughan have a controlling interest.

At the balance sheet date amounts totalling £3,000 (2021: £NIL) were owed by Brenig Homes Ltd, a company in which M Parry and H Vaughan have a controlling interest.

At the balance sheet date amounts totalling £29,750 (2021: £NIL) were owed by Seel Plant Hire Ltd, a company in which M Parry and H Vaughan have a controlling interest.