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REGISTERED NUMBER: 05426546 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

WAVENDON PROPERTIES LIMITED

WAVENDON PROPERTIES LIMITED (REGISTERED NUMBER: 05426546)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WAVENDON PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: M R Storey
M P Storey





SECRETARY: M P Storey





REGISTERED OFFICE: Argent House
5 Goldington Road
Bedford
Bedfordshire
MK40 3JY





BUSINESS ADDRESS: First Avenue
Denbigh West Industrial Estate
Bletchley
Milton Keynes
MK1 1DX





REGISTERED NUMBER: 05426546 (England and Wales)





ACCOUNTANTS: Rawlinson Pryde Limited
Chartered Accountants
Argent House
5 Goldington Road
Bedford
Bedfordshire
MK40 3JY

WAVENDON PROPERTIES LIMITED (REGISTERED NUMBER: 05426546)

BALANCE SHEET
30 JUNE 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 34,166 39,757

CURRENT ASSETS
Stocks 5 4,513,730 4,506,597
Debtors 6 24 4,252
Prepayments and accrued income 5,000 5,000
Cash at bank 7 967,473 1,004,999
5,486,227 5,520,848
CREDITORS
Amounts falling due within one year 8 - 42,172
NET CURRENT ASSETS 5,486,227 5,478,676
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,520,393

5,518,433

PROVISIONS FOR LIABILITIES 9 (3,233 ) -

ACCRUALS AND DEFERRED INCOME (2,308 ) (8,597 )
NET ASSETS 5,514,852 5,509,836

CAPITAL AND RESERVES
Called up share capital 10 6,150,571 6,150,571
Retained earnings (635,719 ) (640,735 )
SHAREHOLDERS' FUNDS 5,514,852 5,509,836

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.

WAVENDON PROPERTIES LIMITED (REGISTERED NUMBER: 05426546)

BALANCE SHEET - 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 13 January 2024 and were signed on its behalf by:





M P Storey - Director


WAVENDON PROPERTIES LIMITED (REGISTERED NUMBER: 05426546)

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

1. STATUTORY INFORMATION

Wavendon Properties 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate or if there is an indication of a significant change since the last reporting date.

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bring the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recongnised in profit and loss.

Stocks
Stocks are stated at the lower of cost and net realisable value being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date stocks are assessed for impairment. If stock is impaired the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit and loss.

WAVENDON PROPERTIES LIMITED (REGISTERED NUMBER: 05426546)

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

2. ACCOUNTING POLICIES - continued

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, loan from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable in 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 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 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.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

WAVENDON PROPERTIES LIMITED (REGISTERED NUMBER: 05426546)

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

2. ACCOUNTING POLICIES - continued

Interest income
Interest income is recognised in profit or loss using the effective interest method.

Other income
Other income is recognised in the period it relates to on the accruals basis.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, on-demand deposits with banks and other short-term highly liquid investments.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
At 1 July 2022
and 30 June 2023 49,696
DEPRECIATION
At 1 July 2022 9,939
Charge for year 5,591
At 30 June 2023 15,530
NET BOOK VALUE
At 30 June 2023 34,166
At 30 June 2022 39,757

5. STOCKS
30.6.23 30.6.22
£    £   
Stocks 4,513,730 4,506,597

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
VAT 24 4,252

WAVENDON PROPERTIES LIMITED (REGISTERED NUMBER: 05426546)

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

7. CASH AT BANK
30.6.23 30.6.22
£    £   
Bank account 967,473 1,004,999

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade creditors - 11,172
Amounts owed to group undertakings - 31,000
- 42,172

9. PROVISIONS FOR LIABILITIES
30.6.23 30.6.22
£    £   
Deferred tax
Accelerated capital allowances 8,697 -
Tax losses carried forward (5,464 ) -
3,233 -

Deferred
tax
£   
Accelerated capital allowances 8,697
Trading losses (5,464 )
Balance at 30 June 2023 3,233

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.23 30.6.22
value: £    £   
6,150,571 Ordinary £1 6,150,571 6,150,571

11. ULTIMATE CONTROLLING PARTY

The immediate and ultimate parent company is Wavendon Properties Holdings Limited.