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REGISTERED NUMBER: 05999353 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

WOLFE HOUSE LIMITED

WOLFE HOUSE LIMITED (Registered number: 05999353)






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


WOLFE HOUSE LIMITED

Company Information
for the Year Ended 30 JUNE 2023







DIRECTORS: A C Patel
A Randerwala
Mrs S Patel





REGISTERED OFFICE: Suite 2C, Brosnan House
175 Darkes Lane
Potters Bar
Hertfordshire
EN6 1BW





REGISTERED NUMBER: 05999353 (England and Wales)





ACCOUNTANTS: The Greene Partnership LLP
Chartered Accountants
Suite 2C, Brosnan House
175 Darkes Lane
Potters Bar
Hertfordshire
EN6 1BW

WOLFE HOUSE LIMITED (Registered number: 05999353)

Balance Sheet
30 JUNE 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 100,000 112,500
Tangible assets 5 1,779,993 1,803,648
1,879,993 1,916,148

CURRENT ASSETS
Debtors 6 13,075 5,519
Cash at bank 127,255 155,371
140,330 160,890
CREDITORS
Amounts falling due within one year 7 380,652 346,606
NET CURRENT LIABILITIES (240,322 ) (185,716 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,639,671

1,730,432

CREDITORS
Amounts falling due after more than one year 8 (1,134,383 ) (1,284,402 )

PROVISIONS FOR LIABILITIES 11 (19,003 ) (18,235 )
NET ASSETS 486,285 427,795

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 486,185 427,695
SHAREHOLDERS' FUNDS 486,285 427,795

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.

WOLFE HOUSE LIMITED (Registered number: 05999353)

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 Amit Patel & Ajay Randerwala the Board of Directors and authorised for issue on 14 March 2024 and were signed on its behalf by:




A C Patel - Director



A Randerwala - Director


WOLFE HOUSE LIMITED (Registered number: 05999353)

Notes to the Financial Statements
for the Year Ended 30 JUNE 2023

1. STATUTORY INFORMATION

WOLFE HOUSE 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.

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.

Turnover
Turnover represents fees receivable.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of eighteen years.

The directors have considered the requirements under Financial Reporting Standard 102 and after undertaking the annual impairment review they believe there should be no change to the existing amortisation policy.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Computer equipment - 20% on reducing balance

It is the opinion that the value of the freehold property does not diminish over time and that departing from the relevant accounting standard presents a truer view.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

WOLFE HOUSE LIMITED (Registered number: 05999353)

Notes to the Financial Statements - continued
for the Year Ended 30 JUNE 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 225,000
AMORTISATION
At 1 July 2022 112,500
Amortisation for year 12,500
At 30 June 2023 125,000
NET BOOK VALUE
At 30 June 2023 100,000
At 30 June 2022 112,500

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 July 2022 1,646,150 405,949 23,554 2,075,653
Additions - 7,885 1,921 9,806
At 30 June 2023 1,646,150 413,834 25,475 2,085,459
DEPRECIATION
At 1 July 2022 - 254,601 17,404 272,005
Charge for year - 31,847 1,614 33,461
At 30 June 2023 - 286,448 19,018 305,466
NET BOOK VALUE
At 30 June 2023 1,646,150 127,386 6,457 1,779,993
At 30 June 2022 1,646,150 151,348 6,150 1,803,648

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 13,075 5,519

WOLFE HOUSE LIMITED (Registered number: 05999353)

Notes to the Financial Statements - continued
for the Year Ended 30 JUNE 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts (see note 9) 146,100 146,100
Trade creditors 21,968 5,797
Tax 19,715 30,748
Social security and other taxes 5,466 4,558
Directors' current accounts 187,403 159,403
380,652 346,606

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans (see note 9) 534,383 584,402
Directors' loan accounts 600,000 700,000
1,134,383 1,284,402

9. LOANS

An analysis of the maturity of loans is given below:

30.6.23 30.6.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 146,100 146,100

Amounts falling due between one and two years:
Bank loans - 1-2 years 146,100 146,100

Amounts falling due between two and five years:
Bank loans - 2-5 years 388,283 438,302

10. SECURED DEBTS

The following secured debts are included within creditors:

30.6.23 30.6.22
£    £   
Bank loans 680,483 730,502

The bank loan has been secured by way of a fixed and floating charge over the company's assets

11. PROVISIONS FOR LIABILITIES
30.6.23 30.6.22
£    £   
Deferred tax
Accelerated capital allowances 19,003 18,235

WOLFE HOUSE LIMITED (Registered number: 05999353)

Notes to the Financial Statements - continued
for the Year Ended 30 JUNE 2023

11. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 July 2022 18,235
Charge to Income Statement during year 768
Balance at 30 June 2023 19,003

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.23 30.6.22
value: £    £   
100 Ordinary 1 100 100

13. ULTIMATE CONTROLLING PARTY

The company was controlled throughout the current and previous years by A C Patel and A Randerwala by virtue of their controlling shareholdings.