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REGISTERED NUMBER: SC555253 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 January 2023

for

Wardhay Limited

Wardhay Limited (Registered number: SC555253)






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


Wardhay Limited

Company Information
for the year ended 31 January 2023







DIRECTORS: Mrs D M Ward
Miss M Ward
Miss E Ward
M L Ward





SECRETARY:





REGISTERED OFFICE: Lower Quoys
Evie
Orkney
KW17 2PH





REGISTERED NUMBER: SC555253 (Scotland)





ACCOUNTANTS: Foubister & Bain
4 Broad Street
Kirkwall
Orkney
KW15 1NX

Wardhay Limited (Registered number: SC555253)

Balance Sheet
31 January 2023

2022 2023
£    £    Notes £    £   
FIXED ASSETS
371,369 Tangible assets 4 379,306

CURRENT ASSETS
13,675 Stocks 14,725
4,208 Cash in hand 5,645
17,883 20,370
CREDITORS
235,502 Amounts falling due within one year 5 253,030
(217,619 ) NET CURRENT LIABILITIES (232,660 )

153,750
TOTAL ASSETS LESS CURRENT
LIABILITIES

146,646

CREDITORS

165,366
Amounts falling due after more than one
year

6

145,981
(11,616 ) NET ASSETS/(LIABILITIES) 665

CAPITAL AND RESERVES
100 Called up share capital 100
(11,716 ) Retained earnings 565
(11,616 ) 665

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.

Wardhay Limited (Registered number: SC555253)

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 27 October 2023 and were signed on its behalf by:





M L Ward - Director


Wardhay Limited (Registered number: SC555253)

Notes to the Financial Statements
for the year ended 31 January 2023

1. STATUTORY INFORMATION

Wardhay Limited is a private company, limited by shares , registered in Scotland. 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 10 ) .

Wardhay Limited (Registered number: SC555253)

Notes to the Financial Statements - continued
for the year ended 31 January 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
Totals buildings etc
£    £    £   
COST
At 1 February 2022 391,158 337,500 53,658
Additions 10,762 9,014 1,748
At 31 January 2023 401,920 346,514 55,406
DEPRECIATION
At 1 February 2022 19,789 - 19,789
Charge for year 2,825 - 2,825
At 31 January 2023 22,614 - 22,614
NET BOOK VALUE
At 31 January 2023 379,306 346,514 32,792
At 31 January 2022 371,369 337,500 33,869

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 38,675 41,722
Trade creditors 15,059 8,544
Taxation 12,476 2,739
Other creditors 186,820 182,497
253,030 235,502

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 145,981 165,366

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 54,192 65,853

Wardhay Limited (Registered number: SC555253)

Notes to the Financial Statements - continued
for the year ended 31 January 2023

7. FINANCIAL INSTRUMENTS

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial asset
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors 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. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

8. RELATED PARTY DISCLOSURES

At the balance sheet date loans from the Directors totalled £136,820 (2022: £132,497)

The loans are interest free with no set repayment terms.