IRIS Accounts Production v23.2.0.158 08493102 director 1.10.21 30.9.22 30.9.22 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh084931022021-09-30084931022022-09-30084931022021-10-012022-09-30084931022020-09-30084931022020-10-012021-09-30084931022021-09-3008493102ns10:Originalns15:EnglandWales2021-10-012022-09-3008493102ns14:PoundSterlingns10:Original2021-10-012022-09-3008493102ns10:Originalns10:Director12021-10-012022-09-3008493102ns10:Original2021-10-012022-09-3008493102ns10:Original2022-09-3008493102ns10:Originalns10:PrivateLimitedCompanyLtd2021-10-012022-09-3008493102ns10:Originalns10:SmallEntities2021-10-012022-09-3008493102ns10:Originalns10:AuditExempt-NoAccountantsReport2021-10-012022-09-3008493102ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2021-10-012022-09-3008493102ns10:SmallCompaniesRegimeForAccountsns10:Original2021-10-012022-09-3008493102ns10:Originalns10:FullAccounts2021-10-012022-09-3008493102ns10:Original2021-09-3008493102ns10:Originalns5:CurrentFinancialInstruments2022-09-3008493102ns10:Originalns5:CurrentFinancialInstruments2021-09-3008493102ns10:Originalns5:Non-currentFinancialInstruments2022-09-3008493102ns10:Originalns5:Non-currentFinancialInstruments2021-09-3008493102ns5:ShareCapitalns10:Original2022-09-3008493102ns5:ShareCapitalns10:Original2021-09-3008493102ns10:Originalns5:RevaluationReserve2022-09-3008493102ns10:Originalns5:RevaluationReserve2021-09-3008493102ns10:Originalns5:FurtherSpecificReserve3ComponentTotalEquity2022-09-3008493102ns10:Originalns5:FurtherSpecificReserve3ComponentTotalEquity2021-09-3008493102ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-09-3008493102ns10:Originalns5:RetainedEarningsAccumulatedLosses2021-09-3008493102ns10:Originalns10:RegisteredOffice2021-10-012022-09-3008493102ns10:Originalns5:OwnedOrFreeholdAssetsns5:LandBuildings2021-10-012022-09-3008493102ns10:Originalns5:FurnitureFittings2021-10-012022-09-3008493102ns10:Originalns5:MotorVehicles2021-10-012022-09-3008493102ns10:Original2020-10-012021-09-3008493102ns10:Originalns5:LandBuildings2021-09-3008493102ns10:Originalns5:FurnitureFittings2021-09-3008493102ns10:Originalns5:MotorVehicles2021-09-3008493102ns10:Original2021-09-3008493102ns10:Originalns5:LandBuildings2021-10-012022-09-3008493102ns10:Originalns5:LandBuildings2022-09-3008493102ns10:Originalns5:FurnitureFittings2022-09-3008493102ns10:Originalns5:MotorVehicles2022-09-3008493102ns10:Originalns5:LandBuildings2021-09-3008493102ns10:Originalns5:FurnitureFittings2021-09-3008493102ns10:Originalns5:MotorVehicles2021-09-3008493102ns10:Originalns5:CostValuation2021-09-3008493102ns10:Originalns5:AdditionsToInvestments2022-09-3008493102ns10:Originalns5:CostValuation2022-09-3008493102ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-09-3008493102ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2021-09-30
REGISTERED NUMBER: 08493102 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

FOR

CHARLES WAINWRIGHT DEVELOPMENTS LIMITED

CHARLES WAINWRIGHT DEVELOPMENTS LIMITED (REGISTERED NUMBER: 08493102)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022










Page

Statement of Financial Position 1 to 2

Notes to the Financial Statements 3 to 9


CHARLES WAINWRIGHT DEVELOPMENTS LIMITED (REGISTERED NUMBER: 08493102)

STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2022

30.9.22 30.9.21
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 44,574 48,301
Investments 5 800 700
Investment property 6 2,546,773 2,546,773
2,592,147 2,595,774

CURRENT ASSETS
Inventories - 1,769,112
Debtors 7 151,713 251,853
Cash at bank 235,681 9,866
387,394 2,030,831
CREDITORS
Amounts falling due within one year 8 (2,687,912 ) (2,561,597 )
NET CURRENT LIABILITIES (2,300,518 ) (530,766 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

291,629

2,065,008

CREDITORS
Amounts falling due after more than one
year

9

(230,249

)

(1,272,118

)

PROVISIONS FOR LIABILITIES (125,839 ) (125,839 )
NET (LIABILITIES)/ASSETS (64,459 ) 667,051

CAPITAL AND RESERVES
Called up share capital 200 200
Revaluation reserve 4,307 4,307
Fair value reserve 640,715 640,715
Retained earnings (709,681 ) 21,829
(64,459 ) 667,051

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

CHARLES WAINWRIGHT DEVELOPMENTS LIMITED (REGISTERED NUMBER: 08493102)

STATEMENT OF FINANCIAL POSITION - continued
30 SEPTEMBER 2022


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 director and authorised for issue on 18 October 2023 and were signed by:





R Wainwright - Director


CHARLES WAINWRIGHT DEVELOPMENTS LIMITED (REGISTERED NUMBER: 08493102)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022


1. STATUTORY INFORMATION

CHARLES WAINWRIGHT DEVELOPMENTS LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08493102

Registered office: c/o DPC Accountants
Stone House
55 Stone Road Business Park
Stoke On Trent
Staffordshire
ST4 6SR

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.

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.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. 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.

(i) Estimated useful lives and residual values of fixed assets

Depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take into account estimated useful lives used by other companies operating in the sector and actual asset lives and residual values, as evidenced by disposals during the current and prior accounting periods.

(ii) Valuation of investment property

The investment property is stated in the balance sheet at fair value, based on the valuation performed by the directors. The directors are of the opinion that the year-end valuation is not materially different to current market price observed.

(iii) Valuation of freehold property

The freehold property is stated in the balance sheet at fair value, based on the valuation performed by the directors. The directors are of the opinion that the year-end valuation is not materially different to current market price observed.

CHARLES WAINWRIGHT DEVELOPMENTS LIMITED (REGISTERED NUMBER: 08493102)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2022


2. ACCOUNTING POLICIES - continued

GOING CONCERN
The accounts have been prepared on the going concern basis which assumes that the company will continue to trade for the foreseeable future.

REVENUE RECOGNITION
Revenue is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - Straight line over 50 years
Fixtures and fittings - 20% reducing balance
Motor vehicles - 25% reducing balance

INVESTMENTS IN SUBSIDIARIES
Investments in subsidiary undertakings are recognised at cost.

INVESTMENT PROPERTY
Investment property is included at fair value and is revalued by the directors to its fair value at each reporting date. Any changes in fair value are recognised in other comprehensive income/profit or loss.

Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

STOCKS
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

CHARLES WAINWRIGHT DEVELOPMENTS LIMITED (REGISTERED NUMBER: 08493102)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2022


2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

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 statement of financial position date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

CHARLES WAINWRIGHT DEVELOPMENTS LIMITED (REGISTERED NUMBER: 08493102)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2022


2. ACCOUNTING POLICIES - continued

HIRE PURCHASE AND LEASING COMMITMENTS
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

INVESTMENTS
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

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.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

PROVISIONS
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

CHARLES WAINWRIGHT DEVELOPMENTS LIMITED (REGISTERED NUMBER: 08493102)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2022


4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 October 2021
and 30 September 2022 37,500 16,237 17,861 71,598
DEPRECIATION
At 1 October 2021 2,438 9,591 11,268 23,297
Charge for year 750 1,329 1,648 3,727
At 30 September 2022 3,188 10,920 12,916 27,024
NET BOOK VALUE
At 30 September 2022 34,312 5,317 4,945 44,574
At 30 September 2021 35,062 6,646 6,593 48,301

5. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 October 2021 700
Additions 100
At 30 September 2022 800
NET BOOK VALUE
At 30 September 2022 800
At 30 September 2021 700

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2021
and 30 September 2022 2,546,773
NET BOOK VALUE
At 30 September 2022 2,546,773
At 30 September 2021 2,546,773


CHARLES WAINWRIGHT DEVELOPMENTS LIMITED (REGISTERED NUMBER: 08493102)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2022


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.22 30.9.21
£    £   
Trade debtors 5,491 4,238
Amounts owed by group undertakings 136,322 207,914
Other debtors 9,900 39,701
151,713 251,853

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.22 30.9.21
£    £   
Hire purchase contracts - 11,441
Trade creditors 15,795 18,118
Amounts owed to group undertakings 2,284,454 2,049,050
Taxation and social security 49,613 44,203
Other creditors 338,050 438,785
2,687,912 2,561,597

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.22 30.9.21
£    £   
Bank loans - 837,052
Other creditors 230,249 435,066
230,249 1,272,118

Amounts falling due in more than five years:

Repayable by instalments
Bank loans payable more than
5 years by instalments - 837,052
- 837,052

10. SECURED DEBTS

The mortgages and loans are secured by fixed and floating charges on all property or undertaking of the company.

The hire purchase liability is secured on the related assets.

11. RELATED PARTY DISCLOSURES

During the year the company owed £280,248 to the directors (2021: £485,066)

All transactions undertaken with the directors are deemed to be conducted under normal market conditions and/or are not material.

The company has taken advantage of the exemption from the disclosures required by paragraph 33.1A of Financial Reporting Standard 102 regarding transactions between fellow group companies.

CHARLES WAINWRIGHT DEVELOPMENTS LIMITED (REGISTERED NUMBER: 08493102)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2022


12. GOING CONCERN

At 30 September 2022 the company has net liabilities of £64,459. However, at the balance sheet date the company owed £2,284,354 to it's subsidiary and it has been agreed that this loan will not be repayable until their are sufficient funds to repay the amounts due. Accordingly, the directors consider it appropriate to prepare the financial statement on the going concern basis.