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Company Registration No.01837603 (England and Wales)





THOMAS WRENN HOMES LIMITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 28 FEBRUARY 2023



































Riordan O'Sullivan & Co
Chartered Certified Accountants and Statutory Auditors
40 Chamberlayne Road
London
NW10 3JE

 
THOMAS WRENN HOMES LIMITED
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THOMAS WRENN HOMES LIMITED
 

Opinion


We have audited the financial statements of Thomas Wrenn Homes Limited (the 'Company') for the year ended 28 February 2023, which comprise  the Balance Sheet and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Company's affairs as at 28 February 2023 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Page 1

 
THOMAS WRENN HOMES LIMITED
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THOMAS WRENN HOMES LIMITED (CONTINUED)

Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Directors' Report has been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.


Adequate accounting records have not been kept. The financial statements are not in agreement with the accounting records and returns or certain disclosures of directors remuneration specified by law are not made or we have not received all the infromation and explanations we require for our audit; or the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies exemptions in preparing the Directors Report and from the requirement to prepare a Strategic report.

 
Responsibilities of directors
 

As explained more fully in the Directors' Responsibilities Statement set out on page 1, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.


Page 2

 
THOMAS WRENN HOMES LIMITED
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THOMAS WRENN HOMES LIMITED (CONTINUED)

Auditors' responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory framework applicable to the company and the industry
in which it operates, through discussions with directors and senior management and from our commercial
knowledge and experience of the waste management industry.
We focused on specific laws and regulations which we considered may have a material effect on the financial
statements or the operations of the company, including the Companies Act 2006, taxation legislation, data
protection, anti-bribery, employment, environmental and health and safety legislation.
We assessed the extent of compliance with these laws and regulations through discussions and enquiry with
directors and senior management.
We assessed the susceptibility of the company’s financial statements to material misstatement, including how
fraud might occur.
We considered the financial controls in place to mitigate risks of fraud and error, including the risk of
management bias or override. We tested the appropriateness of journal entries that appeared unusual as to
nature or amount.
We considered the impact of Covid-19 and the impact the pandemic has had on the company.
Our audit procedures were designed to respond to the risks of material misstatement in the financial statements,
recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not
detecting one resulting from error, as fraud may involve deliberate concealment or collusion. There are inherent
limitations in the audit procedures performed and the further removed non-compliance with laws and regulations
are from financial transactions, the less likely we are to become aware of it.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
Page 3

 
THOMAS WRENN HOMES LIMITED
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THOMAS WRENN HOMES LIMITED (CONTINUED)

Use of our report
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Patrick McNamara (Senior Statutory Auditor)
for and on behalf of
Riordan O'Sullivan & Co
Chartered Certified Accountants and Statutory Auditors
40 Chamberlayne Road
London
NW10 3JE

9 November 2023
Page 4

 
THOMAS WRENN HOMES LIMITED
REGISTERED NUMBER:01837603

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,009,489
753,192

  
2,009,489
753,192

Current assets
  

Stocks
  
1,860,658
1,860,658

Debtors
 5 
9,862
23,830

Cash at bank and in hand
  
692,884
1,786,183

  
2,563,404
3,670,671

Creditors: amounts falling due within one year
 6 
(636,697)
(593,372)

Net current assets
  
 
 
1,926,707
 
 
3,077,299

  
3,936,196
3,830,491

  

Net assets
  
3,936,196
3,830,491


Capital and reserves
  

Called up share capital 
 7 
400
400

Profit and loss account
  
3,935,796
3,830,091

  
3,936,196
3,830,491


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 November 2023.




___________________________
Thomas Wrenn
Director

The notes on pages 6 to 9 form part of these financial statements.

Page 5

 
THOMAS WRENN HOMES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

Thomas Wrenn Homes Limited is a private company limited by shares incorporated in England and Wales. The registered office is 53 West End Lane, Pinner, Middlesex, HA5 1AH.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company

 
2.2

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Motor vehicles
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 6

 
THOMAS WRENN HOMES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.5

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.7

Turnover

The total turnover of the company for the year has been derived from the sale of developed properties & short term lettings wholly undertaken in the UK.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).

Page 7

 
THOMAS WRENN HOMES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

4.


Tangible fixed assets





Investment property
Plant and machinery
Motor vehicles
Total

£
£
£
£



Cost or valuation


At 1 March 2022
742,287
14,251
13,400
769,938


Additions
1,259,944
-
-
1,259,944



At 28 February 2023

2,002,231
14,251
13,400
2,029,882



Depreciation


At 1 March 2022
-
13,954
2,792
16,746


Charge for the year on owned assets
-
297
3,350
3,647



At 28 February 2023

-
14,251
6,142
20,393



Net book value



At 28 February 2023
2,002,231
-
7,258
2,009,489



At 28 February 2022
742,287
297
10,608
753,192


5.


Debtors

2023
2022
£
£


Trade debtors
9,786
9,638

Other debtors
76
5,417

Prepayments
-
8,775

9,862
23,830


Page 8

 
THOMAS WRENN HOMES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
37,163
17,871

Corporation tax
25,650
28,895

Other taxation and social security
2,594
2,197

Other creditors
561,290
531,409

Accruals
10,000
13,000

636,697
593,372



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



400 Ordinary shares of £1.00 each
400
400



8.


Post balance sheet events

There were no events since the year end which materially affected the company.


9.


Controlling party

Mr T.F.Wrenn and Mrs M.T.Wrenn jointly control the company by virtue of their control of the ownership entities in the company.


10.


Auditors' information

The auditors' report on the financial statements for the year ended 28 February 2023 was unqualified.

The audit report was signed on 9 November 2023 by Patrick McNamara (Senior Statutory Auditor) on behalf of Riordan O'Sullivan & Co.

 
Page 9