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REGISTERED NUMBER: 00233802 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

FRESH WHARF ESTATES LIMITED

FRESH WHARF ESTATES LIMITED (REGISTERED NUMBER: 00233802)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


FRESH WHARF ESTATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr R M G Hewett
Mr R G Hewett
Mr J J Hewett
Ms F P S Jokic
Mr A M Leahy
Ms E Hewett
Ms K M Hewett
Ms H Nash


SECRETARY: Mr R G Hewett


REGISTERED OFFICE: 92 Station Lane
Hornchurch
Essex
RM12 6LX


BUSINESS ADDRESS: 60 Cannon Street
London
EC4N 6NP


REGISTERED NUMBER: 00233802 (England and Wales)


ACCOUNTANTS: S.D. Garner + Co Limited
Chartered Certified Accountants
92 Station Lane
Hornchurch
Essex
RM12 6LX


SOLICITORS: Wedlake Bell
71 Queen Victoria Street
London
EC4V 4AY

FRESH WHARF ESTATES LIMITED (REGISTERED NUMBER: 00233802)

ABRIDGED BALANCE SHEET
31 MARCH 2023

2023 2022
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,753 3,207
Investments 5 1 1
Investment property 6 - 5,854,570
1,754 5,857,778

CURRENT ASSETS
Debtors 17,076,318 203,139
Prepayments and accrued income 3,598 -
Cash at bank 3,524,627 14,508,426
20,604,543 14,711,565
CREDITORS
Amounts falling due within one year 9,865,215 10,080,855
NET CURRENT ASSETS 10,739,328 4,630,710
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,741,082

10,488,488

PROVISIONS FOR LIABILITIES - 325
NET ASSETS 10,741,082 10,488,163

CAPITAL AND RESERVES
Called up share capital 25,000 25,000
Retained earnings 10,716,082 10,463,163
SHAREHOLDERS' FUNDS 10,741,082 10,488,163

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

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

FRESH WHARF ESTATES LIMITED (REGISTERED NUMBER: 00233802)

ABRIDGED BALANCE SHEET - continued
31 MARCH 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 1 August 2023 and were signed on its behalf by:





Ms H Nash - Director


FRESH WHARF ESTATES LIMITED (REGISTERED NUMBER: 00233802)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Fresh Wharf Estates 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Preparation of consolidated financial statements
The parent company is Fresh Wharf Holdings Ltd, a company registered in the UK at 92 Station Lane, Hornchurch, Essex. RM12 6LX.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents net rent and other services charged, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - in accordance with the property
Computer equipment - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
The Company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets
Basic financial assets, including trade and other receivables, and cash and bank balances, are initially recognised at transaction price.

Trade receivables are assets due for services that have been acquired in the ordinary course of business from suppliers. Accounts receivables are classified as current assets if receipt is expected within one year or less. If not, they are presented as non-current assets. Trade receivables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

(ii) Financial liabilities
Basic financial liabilities, including trade and other payables, are initially recognised at transaction price.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts 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 payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

FRESH WHARF ESTATES LIMITED (REGISTERED NUMBER: 00233802)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The Company contributes variable amounts to defined contribution and personal pension schemes in respect of various directors and employees.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022 26,105
Additions 1,734
Disposals (22,552 )
At 31 March 2023 5,287
DEPRECIATION
At 1 April 2022 22,898
Charge for year 815
Eliminated on disposal (20,179 )
At 31 March 2023 3,534
NET BOOK VALUE
At 31 March 2023 1,753
At 31 March 2022 3,207

FRESH WHARF ESTATES LIMITED (REGISTERED NUMBER: 00233802)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 April 2022
and 31 March 2023 1
NET BOOK VALUE
At 31 March 2023 1
At 31 March 2022 1

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Muirhead Quay Ltd
Registered office: 92 Station Lane, Hornchurch, Essex. RM12 6LX.
Nature of business: Property owner.
%
Class of shares: holding
Ordinary 100.00

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 5,854,570
Additions 10,905,603
Disposals (16,760,173 )
At 31 March 2023 -
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 5,854,570

Investment properties were disposed during the year.

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
as restated
£    £   
Within one year - 8,486

FRESH WHARF ESTATES LIMITED (REGISTERED NUMBER: 00233802)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
as restated
£    £   

CBRE Loan Services Ltd (as security trustee for the secured party) hold fixed charges and negative pledges in relation to a loan advance by the secured party to a fellow subsidiary of Fresh Wharf Estates Ltd within the Fresh Wharf Holdings Ltd group.

9. CONTINGENT LIABILITIES

At the year end, there were no contingent liabilities or guarantees, other than those arising in the normal course of the Company's activities, and on these, no material losses are anticipated.

10. CAPITAL COMMITMENTS

At the year end, the company had not entered into any capital commitments.

11. OTHER FINANCIAL COMMITMENTS

At the year end, the company had no other financial commitments other than those incurred in the normal operation of its business.

12. ULTIMATE CONTROLLING PARTY

The controlling party is Fresh Wharf Holdings Ltd.

13. OPERATING LEASES

The investment property is held for use in operating leases.