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Company registration number:00592209
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WHARF HOUSE (ST IVES) LIMITED
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 October 2023 |
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WHARF HOUSE (ST IVES) LIMITED |
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BALANCE SHEET |
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AS AT 31 October 2023
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2023 |
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2022 |
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Notes |
£ |
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£ |
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£ |
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£ |
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FIXED ASSETS | | | | | | | | | | | |
Tangible assets | | | 3 | | | 59,648 | | | | 60,588 | |
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| | | | | | | 59,648 | | | | 60,588 | |
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CURRENT ASSETS |
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Debtors | | | 4 | 5,908 | | | | 7,719 | | | | |
Cash at bank and in hand | | | | 238,828 | | | | 248,806 | | | | |
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| | | | | 244,736 | | | | 256,525 | | | |
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CREDITORS |
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Amounts falling due within one year |
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5 |
(73,200) |
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(69,920) |
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NET CURRENT ASSETS |
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171,536 |
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186,605 |
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TOTAL ASSETS LESS |
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CURRENT LIABILITIES |
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231,184 |
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247,193 |
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PROVISIONS FOR LIABILITIES | | | | | (1,203) | | | | (1,177) | |
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NET ASSETS |
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229,981 |
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246,016 |
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CAPITAL AND RESERVES |
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Called-up equity share capital |
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6 |
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6,000 |
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6,000 |
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Profit and loss account |
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223,981 |
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240,016 |
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SHAREHOLDERS FUNDS |
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229,981 |
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246,016 |
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For the year ending 31 October 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. | | | | | | | |
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. | | | | | | | |
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the accounts. | | | | | | | |
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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. Approved by the board of directors on 30 March 2024 and signed on its behalf. | | | | | | | |
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The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies' regime. | | | | | | | |
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.......................................................................... |
Mr D A Jefford |
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30 March 2024
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The annexed notes form part of these financial statements. | | | | | | | |
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WHARF HOUSE (ST IVES) LIMITED | | | | | | |
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STATEMENT OF CHANGES IN EQUITY | | | | | | |
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FOR THE YEAR ENDED 31 OCTOBER 2023 | | |
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Share |
Share |
P and L |
Revaluation |
Other |
Total |
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Capital |
Premium |
Account |
reserve |
reserves |
equity |
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£ |
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£ |
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Balance at 1 November 2021 | | 6,000 | 0 | 226,173 | 0 | 0 | 232,173 |
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Changes in equity | | | | | | | | | | |
Dividend | | | 0 | 0 | (15,000) | 0 | 0 | (15,000) |
Total Comprehensive Income | | 0 | 0 | 28,843 | 0 | 0 | 28,843 |
Balance at 31 October 2022 | | 6,000 | 0 | 240,016 | 0 | 0 | 246,016 |
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Changes in equity | | | | | | | | | | |
Dividend | | | 0 | 0 | (30,000) | 0 | 0 | (30,000) |
Total comprehensive income | | 0 | 0 | 13,965 | 0 | 0 | 13,965 |
Balance at 31 October 2023 | | 6,000 | 0 | 223,981 | 0 | 0 | 229,981 |
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WHARF HOUSE (ST IVES) LIMITED |
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NOTES TO THE FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 OCTOBER 2023 |
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1. |
Accounting policies |
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Basis of preparing the financial statements |
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The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
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| Turnover | | | | | | | | | |
| Turnover represents gross rent from furnished holiday lettings and Tea room rental. | |
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| Fixed Assets | | | | | | | | |
| Tangible fixed assets are stated at cost less depreciation. Depreciation i provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows: | |
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| Furniture, fixtures and fittings - 15 % per annum on reducing balance | |
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| Land and buildings - 1% per annum on reducing balance | |
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| 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 substantively enacted by the balance sheet date. | |
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| Deferred Taxation | | | | | | | | |
| Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset. | |
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2. | Employees | | | |
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| The average number of persons employed by the company (including directors) during the year was 0. |
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3. | Tangible fixed assets | | | | | | | | | |
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Land/Bldgs |
Plant |
Total |
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| Cost | | | | | | | | | | |
| At start of period | |
63,805 |
20,487 |
84,292 | |
| Additions | | |
0 |
627 |
627 | |
| At end of period | |
63,805 |
21,114 |
84,919 | |
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| Depreciation | | | | | | | | | | |
| At start of period | |
9,831 |
13,874 |
23,705 | |
| Provided during the period |
540 |
1,026 |
1,566 | |
| At end of period | |
10,371 |
14,900 |
25,271 | |
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| Net Book Value | | | | | | | | | |
| At start of period | |
53,974 |
6,613 |
60,588 | |
| At end of period | |
53,434 |
6,214 |
59,648 | |
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4. | Debtors | | | | | | | |
| | | | | 2023 | 2022 | | | |
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| Due within one year | | | | | | | |
| Trade Debtors | | | 4,211 | 0 | | | |
| Other Debtors | | | 270 | 4,953 | | | |
| Prepayments and accrued income | | 1,427 | 2,766 | | | |
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5. | Creditors due within one year | | | | | |
| | | | | 2023 | 2022 | | |
| | | | | £ | £ | | |
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| Trade creditors | | | 3,234 | 4,700 | | |
| Corporation Tax | | | 3,795 | 5,777 | | |
| Other creditors | | | 35,594 | 21,288 | | |
| Accruals and deferred income | | 0 | 0 | | |
| Loan from directors | | | 30,577 | 38,155 | | |
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| | | | | 73,200 | 69,920 | | |
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6. |
Share capital |
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Alloted, Issued and fully paid |
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2023 |
2022 |
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£ |
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| Ordinary shares of £1 each | | | 6,000 | 6,000 | | | |
| Total issued share capital | | | 6,000 | 6,000 | | | |
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