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REGISTERED NUMBER: 02164296















WAYFARERS ESTATES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023






WAYFARERS ESTATES LIMITED (REGISTERED NUMBER: 02164296)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WAYFARERS ESTATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTOR: Mr W H L Pitts





SECRETARY: Mr W H L Pitts





REGISTERED OFFICE: 30 Daryngton Avenue
Minnis Bay
Kent
CT7 9PS





REGISTERED NUMBER: 02164296





ACCOUNTANTS: Spurling Cannon
Chartered Certified Accountants
424 Margate Road
Westwood
Ramsgate
Kent
CT12 6SJ

WAYFARERS ESTATES LIMITED (REGISTERED NUMBER: 02164296)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 5,172 6,379
Investment property 5 1,710,343 1,710,343
1,715,515 1,716,722

CURRENT ASSETS
Debtors 6 7,482 31,482
Cash at bank 949,970 952,846
957,452 984,328
CREDITORS
Amounts falling due within one year 7 (30,436 ) (48,950 )
NET CURRENT ASSETS 927,016 935,378
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,642,531

2,652,100

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Revaluation reserve 8 896,734 896,734
Retained earnings 1,735,797 1,745,366
SHAREHOLDERS' FUNDS 2,642,531 2,652,100

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

WAYFARERS ESTATES LIMITED (REGISTERED NUMBER: 02164296)

BALANCE SHEET - continued
30 SEPTEMBER 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 director and authorised for issue on 30 April 2024 and were signed by:





Mr W H L Pitts - Director


WAYFARERS ESTATES LIMITED (REGISTERED NUMBER: 02164296)

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

1. STATUTORY INFORMATION

Wayfarers Estates Limited is a private company, limited by shares , registered in Not specified/Other. 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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 1 (2022 - 1 ) .

WAYFARERS ESTATES LIMITED (REGISTERED NUMBER: 02164296)

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

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 October 2022 24,732 764 25,496
Additions - 1,153 1,153
Disposals - (764 ) (764 )
At 30 September 2023 24,732 1,153 25,885
DEPRECIATION
At 1 October 2022 18,862 255 19,117
Charge for year 1,467 384 1,851
Eliminated on disposal - (255 ) (255 )
At 30 September 2023 20,329 384 20,713
NET BOOK VALUE
At 30 September 2023 4,403 769 5,172
At 30 September 2022 5,870 509 6,379

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022
and 30 September 2023 1,741,664
DEPRECIATION
At 1 October 2022
and 30 September 2023 31,321
NET BOOK VALUE
At 30 September 2023 1,710,343
At 30 September 2022 1,710,343

Fair value at 30 September 2023 is represented by:
£   
Valuation in 2005 144,355
Valuation in 2006 20,000
Valuation in 2008 191,099
Valuation in 2012 52,000
Valuation in 2013 45,000
Valuation in 2014 77,381
Valuation in 2015 187,506
Valuation in 2016 179,394
Cost 844,929
1,741,664

WAYFARERS ESTATES LIMITED (REGISTERED NUMBER: 02164296)

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

5. INVESTMENT PROPERTY - continued

If the Investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 850,587 850,587
Aggregate depreciation (31,321 ) (31,321 )

The Investment properties were valued on an open market basis on 30 September 2017 by the Directors of the company .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Sundry debtors 7,482 31,482

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Corporation Tax - 22,125
Social security and other taxes 27 393
VAT 26,353 17,623
Sundry creditors 2,433 3,660
Directors' current accounts 3 3,529
Accrued expenses 1,620 1,620
30,436 48,950

8. RESERVES
Revaluation
reserve
£   
At 1 October 2022
and 30 September 2023 896,734

9. ULTIMATE CONTROLLING PARTY

W H L Pitts, as managing director and 100% shareholder controls the company.