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Company registration number: 00326634
W G Relton Limited
Unaudited financial statements
05 April 2023
W G Relton Limited
Contents
Directors and other information
Directors report
Accountants report
Statement of comprehensive income
Statement of financial position
Statement of changes in equity
Notes to the financial statements
W G Relton Limited
Directors and other information
Directors Mr L J Relton
Mrs S H Relton
Secretary Mrs S H Relton
Company number 00326634
Registered office 100 High Street
Whitstable
Kent
CT5 1AZ
Accountants The Bubb Sherwin Partnership Ltd
100 High Street
Whitstable
Kent
CT5 1AZ
W G Relton Limited
Directors report
Year ended 5 April 2023
The directors present their report and the unaudited financial statements of the company for the year ended 5 April 2023.
Directors
The directors who served the company during the year were as follows:
Mr L J Relton
Mrs S H Relton
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 31 October 2023 and signed on behalf of the board by:
Mr L J Relton
Director
W G Relton Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of W G Relton Limited
Year ended 5 April 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of W G Relton Limited for the year ended 5 April 2023 which comprise the statement of comprehensive income, statement of financial position, statement of changes in equity and 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/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of W G Relton Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of W G Relton Limited and state those matters that we have agreed to state to the board of directors of W G Relton 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/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than W G Relton Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that W G Relton 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 W G Relton Limited. You consider that W G Relton 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 W G Relton 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.
The Bubb Sherwin Partnership Ltd
Chartered Certified Accountants
100 High Street
Whitstable
Kent
CT5 1AZ
2 November 2023
W G Relton Limited
Statement of comprehensive income
Year ended 5 April 2023
2023 2022
Note £ £
Turnover - -
Cost of sales - -
Administrative expenses ( 2,736) ( 2,063)
Other operating income 7,300 7,800
_______ _______
Operating profit 4,564 5,737
Other interest receivable and similar income 3 2
Profit before taxation 4,567 5,739
Tax on profit ( 868) ( 1,090)
_______ _______
Profit for the financial year and total comprehensive income 3,699 4,649
_______ _______
All the activities of the company are from continuing operations.
W G Relton Limited
Statement of financial position
5 April 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 4 90,000 90,000
_______ _______
90,000 90,000
Current assets
Debtors 5 30 30
Cash at bank and in hand 2,140 3,475
_______ _______
2,170 3,505
Creditors: amounts falling due
within one year 6 ( 1,554) ( 1,588)
_______ _______
Net current assets 616 1,917
_______ _______
Total assets less current liabilities 90,616 91,917
Creditors: amounts falling due
after more than one year 7 ( 100) ( 100)
Provisions for liabilities ( 6,457) ( 6,457)
_______ _______
Net assets 84,059 85,360
_______ _______
Capital and reserves
Called up share capital 500 500
Fair value reserve 79,513 79,513
Profit and loss account 4,046 5,347
_______ _______
Shareholders funds 84,059 85,360
_______ _______
For the year ending 05 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared 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'.
These financial statements were approved by the board of directors and authorised for issue on 31 October 2023 , and are signed on behalf of the board by:
Mr L J Relton
Director
Company registration number: 00326634
W G Relton Limited
Statement of changes in equity
Year ended 5 April 2023
Called up share capital Fair value reserve Profit and loss account Total
£ £ £ £
At 6 April 2021 500 79,513 5,290 85,303
Profit for the year 4,649 4,649
_______ _______ _______ _______
Total comprehensive income for the year - - 4,649 4,649
Dividends paid and payable ( 4,592) ( 4,592)
_______ _______ _______ _______
Total investments by and distributions to owners - - ( 4,592) ( 4,592)
_______ _______ _______ _______
At 5 April 2022 and 6 April 2022 500 79,513 5,347 85,360
Profit for the year 3,699 3,699
_______ _______ _______ _______
Total comprehensive income for the year - - 3,699 3,699
Dividends paid and payable ( 5,000) ( 5,000)
_______ _______ _______ _______
Total investments by and distributions to owners - - ( 5,000) ( 5,000)
_______ _______ _______ _______
At 5 April 2023 500 79,513 4,046 84,059
_______ _______ _______ _______
W G Relton Limited
Notes to the financial statements
Year ended 5 April 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 100 High Street, Whitstable, Kent, CT5 1AZ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
No depreciation is provided as the property is held for it's investment potential only.
Investment property
Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment
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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating 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 are 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 in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company 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. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
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 or 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.
4. Tangible assets
Freehold property Total
£ £
Cost
At 6 April 2022 and 5 April 2023 90,000 90,000
_______ _______
Depreciation
At 6 April 2022 and 5 April 2023 - -
_______ _______
Carrying amount
At 5 April 2023 90,000 90,000
_______ _______
At 5 April 2022 90,000 90,000
_______ _______
Investment property
Included within the above is investment property measured at fair value as follows:
£
At 6 April 2022 and 5 April 2023 90,000
_______
5. Debtors
2023 2022
£ £
Other debtors 30 30
_______ _______
6. Creditors: amounts falling due within one year
2023 2022
£ £
Corporation tax 868 1,090
Other creditors 686 498
_______ _______
1,554 1,588
_______ _______
7. Creditors: amounts falling due after more than one year
2023 2022
£ £
Other creditors 100 100
_______ _______
8. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr L J Relton ( 48) 3,341 ( 3,500) ( 207)
_______ _______ _______ _______
2022
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr L J Relton ( 24) 326 ( 350) ( 48)
_______ _______ _______ _______
9. Controlling party
Mr L J Relton has a controlling interest in the company.