Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.Estate Agenttruefalsetrue2022-04-0141 13328699 2022-04-01 2023-03-31 13328699 2021-04-12 2022-03-31 13328699 2023-03-31 13328699 2022-03-31 13328699 c:Director2 2022-04-01 2023-03-31 13328699 d:CurrentFinancialInstruments 2023-03-31 13328699 d:CurrentFinancialInstruments 2022-03-31 13328699 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 13328699 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 13328699 d:ShareCapital 2023-03-31 13328699 d:ShareCapital 2022-03-31 13328699 d:RetainedEarningsAccumulatedLosses 2023-03-31 13328699 d:RetainedEarningsAccumulatedLosses 2022-03-31 13328699 c:FRS102 2022-04-01 2023-03-31 13328699 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 13328699 c:FullAccounts 2022-04-01 2023-03-31 13328699 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 13328699










WELBURN ESTATES LTD (PREVIOUSLY SKY-HOUSE CO. ESTATES LIMITED)








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

 
WELBURN ESTATES LTD (PREVIOUSLY SKY-HOUSE CO. ESTATES LIMITED)
REGISTERED NUMBER: 13328699

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Current assets
  

Debtors: amounts falling due within one year
 4 
4,778
1,000

Cash at bank and in hand
  
2,127
72

  
6,905
1,072

Creditors: amounts falling due within one year
 5 
(5,905)
(5,229)

Net current assets/(liabilities)
  
 
 
1,000
 
 
(4,157)

Total assets less current liabilities
  
1,000
(4,157)

Net assets/(liabilities)
  
1,000
(4,157)


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
-
(5,157)

  
1,000
(4,157)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 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 statement of income and retained earnings 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 21 December 2023.




Philip Prince
Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
WELBURN ESTATES LTD (PREVIOUSLY SKY-HOUSE CO. ESTATES LIMITED)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Welburn Estates Limited is a private company limited by shares, incorporated in England and Wales (registered number: 13328699). Its registered office is The Old Diary, Broadfield Road , Sheffield , England , S8 0XQ. The principal activity throughout the year continued to be that of Estate agent.

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 following principal accounting policies have been applied:

 
2.2

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Investments in non-derivative instruments that are equity to the issuer are measured:
at fair value with changes recognised in the Statement of Income and Retained Earnings if the shares are publicly traded or their fair value can otherwise be measured reliably;
at cost less impairment for all other investments.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Page 2

 
WELBURN ESTATES LTD (PREVIOUSLY SKY-HOUSE CO. ESTATES LIMITED)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.2
Financial instruments (continued)

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or income as appropriate. The company does not currently apply hedge accounting for interest rate and foreign exchange derivatives.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 1).


4.


Debtors

2023
2022
£
£

Amounts owed by group undertakings
3,778
-

Other debtors
1,000
1,000

4,778
1,000



5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
1,058
599

Amounts owed to group undertakings
85
2,830

Other taxation and social security
2,962
-

Accruals and deferred income
1,800
1,800

5,905
5,229


Page 3

 
WELBURN ESTATES LTD (PREVIOUSLY SKY-HOUSE CO. ESTATES LIMITED)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held
separately from those of the Company in an independently administered fund. The pension cost charge
represents contributions payable by the Company to the fund and amounted to £1,202 (2022: £NIL).
Contributions totalling £NIL (2022: £NIL) were payable to the fund at the balance sheet date and are
included in creditors.


7.


Controlling party

At 31 March 2023, the ultimate controlling party was T G Cross. From 31 July 2023, the ultimate controlling party is Welburn Homes Limited.

 
Page 4