Registration number:
Wilkerson Developments Limited
for the Year Ended 31 October 2023
Wilkerson Developments Limited
(Registration number: 01142072)
Balance Sheet as at 31 October 2023
Note |
2023 |
2022 |
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Fixed assets |
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Investments |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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|
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Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
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|
|
Net assets |
|
|
|
Capital and reserves |
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Called up share capital |
1,300 |
1,300 |
|
Retained earnings |
1,501,687 |
1,562,687 |
|
Shareholders' funds |
1,502,987 |
1,563,987 |
For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
Wilkerson Developments Limited
(Registration number: 01142072)
Balance Sheet as at 31 October 2023
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Wilkerson Developments Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales .
The address of its registered office is:
The principal place of business is:
Graphic House,
Extension Rd,
Hertford
SG13 7LS
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention.
The financial statements are prepared in sterling, which is the functional currency of the entity. Amounts are rounded to the nearest £1.
Group accounts not prepared
Wilkerson Developments Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
Judgements
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Investments
Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Investments consist of the cost of investment in the subsidiary of the group.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Trade debtors
There are no trade debtors of the company.
Debtors consist of amounts owed between related and connected parties and are included at cost within these financial statements.
Stocks
Stock consists of freehold land and buildings which are the business premises of it is wholly owned subsidiary. This is carried at the lower of cost and net realisable value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised at the transaction price.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Wilkerson Developments Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Investments |
2023 |
2022 |
|
Investments in subsidiaries |
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|
Subsidiaries |
£ |
Cost or valuation |
|
At 1 November 2022 |
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Carrying amount |
|
At 31 October 2023 |
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At 31 October 2022 |
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Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2023 |
2022 |
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Subsidiary undertakings |
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Unit 1, The Cam Centre, Wilbury Way, Hitchin, Herts, SG4 0TW England |
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Subsidiary undertakings |
Hertford Offset Limited The principal activity of Hertford Offset Limited is |
Wilkerson Developments Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
Stocks |
2023 |
2022 |
|
Other inventories |
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Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
|
Due within one year |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
- |
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Other creditors |
- |
|
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Bank loans and overdrafts of Hertford Offset Limited, wholly owned subsidiary, are secured by way of a cross guarantee arrangement between the assets of Wilkerson Developments Limited and those of that company in favour of Barclays Bank Plc.
The property of the company is secured by a fixed charge in favour of Barclays Bank Plc and held within other inventories.
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
|
|
1,300 |
|
1,300 |
Dividends |
2023 |
2022 |
|||
£ |
£ |
|||
Interim dividend of £Nil (2022 - £ |
40,000 |
390,000 |
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Related party transactions |
Summary of transactions with other related parties
Wilkerson Developments Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
At the balance sheet date the R Wilkerson owed the company £64,194 (2022: was owed £102,863) and was owed £59,222 (2022: £10,083) from H Wilkerson, both Directors of the company. There is no interest charged or terms for repayment.