Registered number: 04838415 | ||||||||
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 | ||||||||
SECRETARY | ||||||||
Mrs A Hann | ||||||||
REGISTERED OFFICE | ||||||||
Essex | ||||||||
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 Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
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 | ||||||||||
2023 | 2022 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 3 | |||||||||
CURRENT ASSETS | ||||||||||
Stock | ||||||||||
Debtors | 5 | |||||||||
Cash at bank and in hand | ||||||||||
1,017,573 | 9,503 | |||||||||
CREDITORS: Amounts falling due within one year | 6 | |||||||||
NET CURRENT ASSETS / (LIABILITIES) | (22,120) | |||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
CREDITORS: Amounts falling due after more than one year | 7 | - | 9,731 | |||||||
NET ASSETS | ||||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 8 | |||||||||
Profit and loss account | 947,245 | 943,700 | ||||||||
SHAREHOLDERS' FUNDS | ||||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
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 | ||||||||
Plant and Machinery | reducing balance 25% | |||||||
Equipment | reducing balance 25% | |||||||
Motor Cars | reducing 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 | ||||||
2023 | 2022 | |||||
No. | No. | |||||
Average number of employees | - | |||||
THE WAYNES DEVELOPMENT COMPANY LTD | ||||||||
3. TANGIBLE FIXED ASSETS | ||||||||||
Land And | Plant and | |||||||||
Buildings | Machinery Etc. | Total | ||||||||
£ | £ | £ | ||||||||
Cost | ||||||||||
At 1 August 2022 | 974,768 | 20,019 | 994,787 | |||||||
Disposals | - | (20,019) | (20,019) | |||||||
Transfers | (974,768) | - | (974,768) | |||||||
At 31 July 2023 | - | - | - | |||||||
Depreciation | ||||||||||
At 1 August 2022 | - | 19,233 | 19,233 | |||||||
Disposals | - | (19,233) | (19,233) | |||||||
At 31 July 2023 | - | - | - | |||||||
Net Book Amounts | ||||||||||
At 31 July 2023 | - | - | - | |||||||
At 31 July 2022 | 974,768 | 786 | 975,554 | |||||||
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 | 2023 | 2022 | ||||
£ | £ | |||||
Stock comprises: | ||||||
Stock raw materials | 988,246 | - | ||||
5. DEBTORS | 2023 | 2022 | ||||||
£ | £ | |||||||
Amounts falling due within one year: | ||||||||
VAT | 657 | - | ||||||
Other debtors | 162 | 2,057 | ||||||
819 | 2,057 | |||||||
THE WAYNES DEVELOPMENT COMPANY LTD | ||||||||
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
Bank loans and overdrafts | ||||||||
Taxation and social security | 1,017 | 11,610 | ||||||
Other creditors | 69,308 | 16,839 | ||||||
70,325 | 31,623 | |||||||
7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
Bank loans and overdrafts | - | 9,731 | ||||||
- | 9,731 | |||||||
8. SHARE CAPITAL | 2023 | 2022 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
3 | 3 | |||||||
3 | 3 | |||||||
New shares issued during period: | ||||||||
0 | 0 | 3 | ||||||
- | 3 | |||||||
On the 13th February 2023 the ordindary shares of £1 were split into 100 shares of £0.01p. |