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REGISTERED NUMBER: 00345885 (England and Wales)















J.WHARTON (SHIPPING) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023






J.WHARTON (SHIPPING) LIMITED (REGISTERED NUMBER: 00345885)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


J.WHARTON (SHIPPING) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: Mrs A C Birchall
J W Wharton
J S Wharton
Mrs F L Wharton



SECRETARY: J S Wharton



REGISTERED OFFICE: Valley House Valley Farm
North Lane
Swaby Alford
Lincolnshire
LN13 0BD



REGISTERED NUMBER: 00345885 (England and Wales)



ACCOUNTANTS: Duncan & Toplis Limited
5 Resolution Close
Endeavour Park
Boston
Lincolnshire
PE21 7TT



BANKERS: HSBC Bank Plc
84 High Street
Scunthorpe
North Lincolnshire
DN15 6HQ



SOLICITORS: Wilkin Chapman LLP
Cartergate House
26 Chantry Lane
Grimsby
North East Lincolnshire
DN31 2LJ

J.WHARTON (SHIPPING) LIMITED (REGISTERED NUMBER: 00345885)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 41,184,850 36,241,617
Investments 5 15,878,832 16,530,383
Investment property 6 785,000 785,000
57,848,682 53,557,000

CURRENT ASSETS
Debtors 7 5,141,545 5,295,466
Cash at bank 2,109,704 3,784,866
7,251,249 9,080,332
CREDITORS
Amounts falling due within one year 8 379,577 510,902
NET CURRENT ASSETS 6,871,672 8,569,430
TOTAL ASSETS LESS CURRENT LIABILITIES 64,720,354 62,126,430

CREDITORS
Amounts falling due after more than one year 9 (5,206,390 ) (3,322,051 )

PROVISIONS FOR LIABILITIES (2,686,322 ) (2,769,849 )
NET ASSETS 56,827,642 56,034,530

CAPITAL AND RESERVES
Called up share capital 11 13,316 13,316
Revaluation reserve 12 14,978,468 14,978,468
Capital redemption reserve 12 27,184 27,184
Fair value reserve 12 2,602,815 3,093,318
Retained earnings 12 39,205,859 37,922,244
SHAREHOLDERS' FUNDS 56,827,642 56,034,530

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

J.WHARTON (SHIPPING) LIMITED (REGISTERED NUMBER: 00345885)

STATEMENT OF FINANCIAL POSITION - continued
30 JUNE 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 November 2023 and were signed on its behalf by:





J S Wharton - Director


J.WHARTON (SHIPPING) LIMITED (REGISTERED NUMBER: 00345885)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

J.Wharton (Shipping) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - not provided
Plant and machinery etc - 15% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Investments
Unlisted investments are valued at historic cost. Listed investments are valued at fair value with any gain or loss reported through the income statement.

Other income
Other income is recognised in the period to which it relates.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

J.WHARTON (SHIPPING) LIMITED (REGISTERED NUMBER: 00345885)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 July 2022 36,241,318 7,346 36,248,664
Additions 4,943,278 - 4,943,278
At 30 June 2023 41,184,596 7,346 41,191,942
DEPRECIATION
At 1 July 2022 - 7,047 7,047
Charge for year - 45 45
At 30 June 2023 - 7,092 7,092
NET BOOK VALUE
At 30 June 2023 41,184,596 254 41,184,850
At 30 June 2022 36,241,318 299 36,241,617

Included in cost or valuation of land and buildings is freehold land of £ 41,184,596 (2022 - £ 36,241,318 ) which is not depreciated.

Cost or valuation at 30 June 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2023 41,184,596 - 41,184,596
Cost - 7,346 7,346
41,184,596 7,346 41,191,942

The fair value has been determined by the directors based on estimated open market values. There has been no valuation of land and buildings by an independent valuer.

5. FIXED ASSET INVESTMENTS
Listed Unlisted
investments investments Totals
£    £    £   
COST OR VALUATION
At 1 July 2022 16,521,383 9,000 16,530,383
Additions 364,377 - 364,377
Disposals (549,628 ) - (549,628 )
Revaluations (466,300 ) - (466,300 )
At 30 June 2023 15,869,832 9,000 15,878,832
NET BOOK VALUE
At 30 June 2023 15,869,832 9,000 15,878,832
At 30 June 2022 16,521,383 9,000 16,530,383

J.WHARTON (SHIPPING) LIMITED (REGISTERED NUMBER: 00345885)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

5. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 30 June 2023 is represented by:

Listed Unlisted
investments investments Totals
£    £    £   
Valuation in 2023 15,869,832 - 15,869,832
Cost - 9,000 9,000
15,869,832 9,000 15,878,832

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022
and 30 June 2023 785,000
NET BOOK VALUE
At 30 June 2023 785,000
At 30 June 2022 785,000

Fair value at 30 June 2023 is represented by:
£   
Valuation in 2023 785,000

The fair value has been determined by the directors based on estimated open market values. There has been no valuation of investment property by an independent valuer.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 5,141,545 5,295,466

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 157,480 116,845
Taxation and social security 147,561 328,088
Other creditors 74,536 65,969
379,577 510,902

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 5,206,390 3,322,051

Amounts falling due in more than five years:

Repayable by instalments
Bank loans due over five years 4,559,351 2,840,327

J.WHARTON (SHIPPING) LIMITED (REGISTERED NUMBER: 00345885)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 5,362,616 3,437,782

Bank loans are secured on land owned by the company.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
13,316 Ordinary 1 13,316 13,316

12. RESERVES
Capital Fair
Retained Revaluation redemption value
earnings reserve reserve reserve Totals
£    £    £    £    £   

At 1 July 2022 37,922,244 14,978,468 27,184 3,093,318 56,021,214
Profit for the year 1,006,168 - - - 1,006,168
Dividends (213,056 ) - - - (213,056 )
Movement on fair value, net of
deferred tax

490,503

-

-

(490,503

)

-
At 30 June 2023 39,205,859 14,978,468 27,184 2,602,815 56,814,326

13. CAPITAL COMMITMENTS
2023 2022
£    £   
Contracted but not provided for in the
financial statements 498,543 20,000