Company registration number 01069270 (England and Wales)
ORTON AND WENLOCK DEVELOPMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
92 Station Road
Clacton on Sea
Essex
CO15 1SG
ORTON AND WENLOCK DEVELOPMENTS LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
ORTON AND WENLOCK DEVELOPMENTS LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr M M Johnson
Mrs J E Johnson
Company number
01069270
Registered office
Four Corners
Robinson Road
Brightlingsea
Essex
CO7 0ST
Accountants
TC Group
92 Station Road
Clacton on Sea
Essex
CO15 1SG
ORTON AND WENLOCK DEVELOPMENTS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
14,259
24,017
Investment properties
6
250,000
250,000
Investments
5
-
0
7,741
264,259
281,758
Current assets
Stocks
-
2,000
Debtors
7
1,324
40,535
Cash at bank and in hand
3,356
-
0
4,680
42,535
Creditors: amounts falling due within one year
8
(7,177)
(34,573)
Net current (liabilities)/assets
(2,497)
7,962
Total assets less current liabilities
261,762
289,720
Capital and reserves
Called up share capital
5,000
5,000
Share premium account
14,000
14,000
Non distributable reserve
9
99,044
99,044
Profit and loss reserves
143,718
171,676
Total equity
261,762
289,720
ORTON AND WENLOCK DEVELOPMENTS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2023
31 March 2023
- 3 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 2 October 2023 and are signed on its behalf by:
Mr M M Johnson
Mrs J E Johnson
Director
Director
Company Registration No. 01069270
The notes on pages 4 to 8 form part of these financial statements
ORTON AND WENLOCK DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
1
Accounting policies
Company information

Orton and Wenlock Developments Limited is a private company limited by shares incorporated in England and Wales. The registered office is Four Corners, Robinson Road, Brightlingsea, Essex, CO7 0ST.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% straight line
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

ORTON AND WENLOCK DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 5 -
1.5
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.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

1.6
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
3
8
ORTON AND WENLOCK DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022
81,576
Disposals
(56,226)
At 31 March 2023
25,350
Depreciation and impairment
At 1 April 2022
57,559
Depreciation charged in the year
4,753
Eliminated in respect of disposals
(51,221)
At 31 March 2023
11,091
Carrying amount
At 31 March 2023
14,259
At 31 March 2022
24,017
5
Fixed asset investments
2023
2022
£
£
Other investments other than loans
-
0
7,741
ORTON AND WENLOCK DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
5
Fixed asset investments
(Continued)
- 7 -
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 April 2022 & 31 March 2023
7,741
Impairment
At 1 April 2022
-
Disposals
7,741
At 31 March 2023
7,741
Carrying amount
At 31 March 2023
-
At 31 March 2022
7,741
6
Investment property
2023
£
Fair value
At 1 April 2022 and 31 March 2023
250,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out at the balance sheet date by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

7
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
-
0
32,899
Other debtors
1,324
7,636
1,324
40,535
ORTON AND WENLOCK DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 8 -
8
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
-
0
6,325
Trade creditors
-
0
14,797
Taxation and social security
4,229
4,107
Other creditors
2,948
9,344
7,177
34,573
9
Non distributable reserve
2023
2022
£
£
At the beginning of the year
99,044
87,683
Transfer to retained earnings
-
0
11,361
At the end of the year
99,044
99,044
10
Disposal of a business

On 7 June 2022 the company disposed of its assets and goodwill. Included in these financial statements are profits of £10,000 arising from the company's interests in assets and goodwill up to the date of its disposal.

 

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