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REGISTERED NUMBER: 00494637 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2023

for

Wreake Valley Craftsmen,Limited

Wreake Valley Craftsmen,Limited (Registered number: 00494637)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 7

Wreake Valley Craftsmen,Limited

Company Information
for the Year Ended 31 January 2023







DIRECTORS: A M Duncombe
Mrs R Duncombe





REGISTERED OFFICE: Rearsby Road
Thrussington
Leicester
Leicestershire
LE7 4UD





REGISTERED NUMBER: 00494637 (England and Wales)





ACCOUNTANTS: Charnwood Accountants & Business Advisors LLP
The Point
Granite Way
Mountsorrel
Loughborough
Leicestershire
LE12 7TZ

Wreake Valley Craftsmen,Limited (Registered number: 00494637)

Balance Sheet
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,050,025 1,121,133

CURRENT ASSETS
Stocks 33,351 43,643
Debtors 5 631,575 902,253
Cash at bank and in hand 72,539 320,614
737,465 1,266,510
CREDITORS
Amounts falling due within one year 6 746,208 1,191,113
NET CURRENT (LIABILITIES)/ASSETS (8,743 ) 75,397
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,041,282

1,196,530

CREDITORS
Amounts falling due after more than one year 7 - (121,212 )

PROVISIONS FOR LIABILITIES (35,728 ) (46,791 )
NET ASSETS 1,005,554 1,028,527

CAPITAL AND RESERVES
Called up share capital 1,562 1,562
Revaluation reserve 407,151 407,151
Capital redemption reserve 5,750 5,750
Retained earnings 591,091 614,064
SHAREHOLDERS' FUNDS 1,005,554 1,028,527

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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.

Wreake Valley Craftsmen,Limited (Registered number: 00494637)

Balance Sheet - continued
31 January 2023


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 6 September 2023 and were signed on its behalf by:





A M Duncombe - Director


Wreake Valley Craftsmen,Limited (Registered number: 00494637)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

Wreake Valley Craftsmen,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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 1% on cost
Plant and machinery - 33% on cost and 15% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 20% on cost

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

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Wreake Valley Craftsmen,Limited (Registered number: 00494637)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2022 - 24 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 February 2022 1,053,946 522,893 43,428 121,005 1,741,272
Additions - 11,228 - - 11,228
At 31 January 2023 1,053,946 534,121 43,428 121,005 1,752,500
DEPRECIATION
At 1 February 2022 116,632 437,578 43,428 22,501 620,139
Charge for year 21,847 41,090 - 19,399 82,336
At 31 January 2023 138,479 478,668 43,428 41,900 702,475
NET BOOK VALUE
At 31 January 2023 915,467 55,453 - 79,105 1,050,025
At 31 January 2022 937,314 85,315 - 98,504 1,121,133

Land and buildings were revalued at deemed cost on 1st February 2015 under the transition arrangements of FRS102. No depreciation is being charged on the revalued element of land and buildings as the directors believe the residual sales value will be in excess of the revalued cost.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade debtors 473,956 649,759
Amounts recoverable on contract 144,000 232,677
Other debtors 13,619 19,817
631,575 902,253

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans and overdrafts - 340,909
Trade creditors 182,637 352,649
Amounts owed to group undertakings 267,280 227,795
Taxation and social security 106,106 69,207
Other creditors 190,185 200,553
746,208 1,191,113

Wreake Valley Craftsmen,Limited (Registered number: 00494637)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.23 31.1.22
£    £   
Bank loans - 121,212

8. SECURED DEBTS

The following secured debts are included within creditors:

31.1.23 31.1.22
£    £   
Bank loans - 462,121

The loan is secured by a government backed guarantee. A previous loan to the company was secured by way of a floating charge over the assets of the company.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2023 and 31 January 2022:

31.1.23 31.1.22
£    £   
A M Duncombe and Mrs R Duncombe
Balance outstanding at start of year - 8,083
Amounts advanced - 103,540
Amounts repaid - (111,623 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

10. CONTROLLING PARTY

The controlling party is Wreake Valley Holdings Limited.

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Wreake Valley Craftsmen,Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Wreake Valley Craftsmen,Limited for the year ended 31 January 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Wreake Valley Craftsmen,Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Wreake Valley Craftsmen,Limited and state those matters that we have agreed to state to the Board of Directors of Wreake Valley Craftsmen,Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Wreake Valley Craftsmen,Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Wreake Valley Craftsmen,Limited. You consider that Wreake Valley Craftsmen,Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Wreake Valley Craftsmen,Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Charnwood Accountants & Business Advisors LLP
The Point
Granite Way
Mountsorrel
Loughborough
Leicestershire
LE12 7TZ


6 September 2023