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Registered number: 04838415
THE WAYNES DEVELOPMENT COMPANY LTD
ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2023
Prepared By:
McMillan Rose & Co Ltd
Chartered Certified Accountants
Haltgate House
52A Hullbridge Road
South Woodham Ferrers
Essex
CM3 5NH
THE WAYNES DEVELOPMENT COMPANY LTD
ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2023
DIRECTORS
Mr A Herrtage
Mr R Dickens
Mr J Beuvink
Mr G Hann
Mrs J Beuvink
Mrs C Dickens
Mrs A Hann
Ms V McKelvie
SECRETARY
Mrs A Hann
REGISTERED OFFICE
Haltgate House
52a Hullbridge Road
South Woodham Ferrers
Essex
CM3 5NH
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 04838415
ACCOUNTANTS
McMillan Rose & Co Ltd
Chartered Certified Accountants
Haltgate House
52A Hullbridge Road
South Woodham Ferrers
Essex
CM3 5NH
THE WAYNES DEVELOPMENT COMPANY LTD
ACCOUNTS
FOR THEYEARENDED31 JULY 2023
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-
THE WAYNES DEVELOPMENT COMPANY LTD
BALANCE SHEET AT 31 July 2023
20232022
Notes££
FIXED ASSETS
Tangible assets3-975,554
CURRENT ASSETS
Stock988,246-
Debtors58192,057
Cash at bank and in hand28,5087,446
1,017,5739,503
CREDITORS: Amounts falling due within one year670,32531,623
NET CURRENT ASSETS / (LIABILITIES)947,248(22,120)
TOTAL ASSETS LESS CURRENT LIABILITIES947,248953,434
CREDITORS: Amounts falling due after more than one year7-9,731
NET ASSETS947,248943,703
CAPITAL AND RESERVES
Called up share capital833
Profit and loss account947,245943,700
SHAREHOLDERS' FUNDS947,248943,703
For the year ending 31 July 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 2 November 2023 and signed on their behalf by
.............................
Mr A Herrtage
Director
THE WAYNES DEVELOPMENT COMPANY LTD
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2023
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and Machineryreducing balance 25%
Equipmentreducing balance 25%
Motor Carsreducing balance 25%
1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
1d. Turnover
Turnover represents the invoiced value of services supplied by the company, net of value added tax.
2. EMPLOYEES
20232022
No.No.
Average number of employees2-
THE WAYNES DEVELOPMENT COMPANY LTD
3. TANGIBLE FIXED ASSETS
Land AndPlant and
BuildingsMachinery Etc.Total
£££
Cost
At 1 August 2022974,76820,019994,787
Disposals-(20,019)(20,019)
Transfers(974,768)-(974,768)
At 31 July 2023---
Depreciation
At 1 August 2022-19,23319,233
Disposals-(19,233)(19,233)
At 31 July 2023---
Net Book Amounts
At 31 July 2023---
At 31 July 2022974,768786975,554
On the 13th February 2023 the company changed its activity from that of caravan site letting to that of development of housing. On this date the land was transferred to trading stock at cost.
4. STOCK 20232022
££
Stock comprises:
Stock raw materials988,246-
988,246-
5. DEBTORS 20232022
££
Amounts falling due within one year:
VAT657-
Other debtors1622,057
8192,057
THE WAYNES DEVELOPMENT COMPANY LTD
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20232022
££
Bank loans and overdrafts-3,174
Taxation and social security1,01711,610
Other creditors69,30816,839
70,32531,623
7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20232022
££
Bank loans and overdrafts-9,731
-9,731
8. SHARE CAPITAL 20232022
££
Allotted, issued and fully paid:
300 Ordinary shares of £0.01 each33
33
New shares issued during period:
0 Ordinary shares of £0.01 each03
-3
On the 13th February 2023 the ordindary shares of £1 were split into 100 shares of £0.01p.