WESLEYVALE LIMITED
Filleted Accounts
31 March 2023
WESLEYVALE LIMITED
Registered number: 01222714
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 2,841,138 2,913,650
Current assets
Stocks 1,250 1,050
Debtors 5 (1,680) 199
Cash at bank and in hand 18,234 92,741
17,804 93,990
Creditors: amounts falling due within one year 6 (518,702) (501,333)
Net current liabilities (500,898) (407,343)
Total assets less current liabilities 2,340,240 2,506,307
Provisions for liabilities (22,060) (22,060)
Net assets 2,318,180 2,484,247
Capital and reserves
Called up share capital 380 380
Share premium 146,985 146,985
Profit and loss account 2,170,815 2,336,882
Shareholders' funds 2,318,180 2,484,247
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Emilios Aristodimou
Director
Approved by the board on 15 October 2023
WESLEYVALE LIMITED
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings 2% straight line
Plant and machinery 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 9 9
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2022 185,000
At 31 March 2023 185,000
Amortisation
At 1 April 2022 185,000
At 31 March 2023 185,000
Net book value
At 31 March 2023 -
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2022 4,044,225 277,848 4,322,073
New Build 5,575 5,575
Additions- New Build - 2,281 2,281
At 31 March 2023 4,049,800 280,129 4,329,929
Depreciation
At 1 April 2022 1,210,345 198,078 1,408,423
Charge for the year 59,856 20,512 80,368
At 31 March 2023 1,270,201 218,590 1,488,791
Net book value
At 31 March 2023 2,779,599 61,539 2,841,138
At 31 March 2022 2,833,880 79,770 2,913,650
5 Debtors 2023 2022
£ £
VAT Refundable (1,680) 199
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 7,046 16,261
Amounts owed to group undertakings and undertakings in which the company has a participating interest 76,424 40,637
Directors loan accounts 164,222 173,204
Other taxes and social security costs 268 489
Accruals & deferred income 21,636 21,636
Other creditors 249,106 249,106
518,702 501,333
7 Other information
WESLEYVALE LIMITED is a private company limited by shares and incorporated in England. Its registered office is: The Cambridge Motel, London Road (A10), Shepreth, Royston, Herts. SG8 6RA
London Road (A10)
The activities of the company came to a halt in August 2016 due to renovation and construction
of a new building adjacent to the existing building. Normal activities will resume sometime in Herts
next spring.
8 Ultimate controlling company
The ultimate parent company is Aristo (Catering) Ltd, a company incorporated in England.
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