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Company Registration No. 08605553 (England and Wales)
Wharfedale Developments Limited Unaudited accounts for the year ended 31 March 2023
Wharfedale Developments Limited Unaudited accounts Contents
Page
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Wharfedale Developments Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
37,508 
24,129 
Tangible assets
38,392 
67,093 
75,900 
91,222 
Current assets
Debtors
66,660 
76,798 
Cash at bank and in hand
38,407 
27,047 
105,067 
103,845 
Creditors: amounts falling due within one year
(113,248)
(103,785)
Net current (liabilities)/assets
(8,181)
60 
Total assets less current liabilities
67,719 
91,282 
Creditors: amounts falling due after more than one year
(33,886)
(39,559)
Provisions for liabilities
Deferred tax
(7,294)
(10,857)
Net assets
26,539 
40,866 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
26,439 
40,766 
Shareholders' funds
26,539 
40,866 
For the year ending 31 March 2023 the company was entitled to exemption from audit 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 23 October 2023 and were signed on its behalf by
Lester Hurst Director Company Registration No. 08605553
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Wharfedale Developments Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Wharfedale Developments Limited is a private company, limited by shares, registered in England and Wales, registration number 08605553. The registered office is 56-58 Kirkgate, Otley, West Yorkshire, LS21 3HJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
20% Straight Line
Plant & machinery
25% Reducing Balance
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Intangible fixed assets
Intangible fixed assets which represent cryptoassets are initially recognized at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently they are measured at fair value at the reporting date. Changes in fair value are recognised in profit or loss.
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met . Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable . A grant received before the recognition criteria are satisfied is recognised as a liability.
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Wharfedale Developments Limited Notes to the Accounts for the year ended 31 March 2023
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 April 2022
24,129 
Additions
4,321 
Revaluations
9,058 
At 31 March 2023
37,508 
Amortisation
At 1 April 2022
- 
At 31 March 2023
- 
Net book value
At 31 March 2023
37,508 
At 31 March 2022
24,129 
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Wharfedale Developments Limited Notes to the Accounts for the year ended 31 March 2023
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2022
29,110 
115,906 
145,016 
Disposals
- 
(32,124)
(32,124)
At 31 March 2023
29,110 
83,782 
112,892 
Depreciation
At 1 April 2022
29,110 
48,813 
77,923 
Charge for the year
- 
10,329 
10,329 
On disposals
- 
(13,752)
(13,752)
At 31 March 2023
29,110 
45,390 
74,500 
Net book value
At 31 March 2023
- 
38,392 
38,392 
At 31 March 2022
- 
67,093 
67,093 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
9,211 
9,618 
Accrued income and prepayments
7,819 
9,638 
Other debtors
49,630 
57,542 
66,660 
76,798 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
5,000 
4,750 
Obligations under finance leases and hire purchase contracts
- 
21,876 
Trade creditors
26,143 
14,092 
Taxes and social security
42,385 
33,401 
Other creditors
38,520 
29,666 
Deferred income
1,200 
- 
113,248 
103,785 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
33,886 
39,559 
9
Average number of employees
During the year the average number of employees was 7 (2022: 8).
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