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REGISTERED NUMBER: 12985756 (England and Wales)












Unaudited Financial Statements

For The Year Ended 31st October 2023

for

West Ranga (Oakwood) Ltd

West Ranga (Oakwood) Ltd (Registered number: 12985756)






Contents of the Financial Statements
For The Year Ended 31st October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


West Ranga (Oakwood) Ltd

Company Information
For The Year Ended 31st October 2023







DIRECTORS: J A Appleton-Metcalfe
J S Parratt
A G Shaw





REGISTERED OFFICE: 4 Old Market Place
Ripon
United Kingdom
HG4 1EQ





REGISTERED NUMBER: 12985756 (England and Wales)





ACCOUNTANTS: F E Metcalfe & Co Limited
Chartered Accountants
4 Old Market Place
Ripon
North Yorkshire
HG4 1EQ

West Ranga (Oakwood) Ltd (Registered number: 12985756)

Balance Sheet
31st October 2023

31.10.23 31.10.22
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 18,717 8,497
Investment property 5 3,925,000 3,925,000
3,943,717 3,933,497

CURRENT ASSETS
Debtors 6 42,029 27,660
Cash at bank 113,151 76,255
155,180 103,915
CREDITORS
Amounts falling due within one year 7 2,612,599 2,519,021
NET CURRENT LIABILITIES (2,457,419 ) (2,415,106 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,486,298

1,518,391

PROVISIONS FOR LIABILITIES 366,118 363,563
NET ASSETS 1,120,180 1,154,828

CAPITAL AND RESERVES
Called up share capital 8 10 10
Retained earnings 9 1,120,170 1,154,818
SHAREHOLDERS' FUNDS 1,120,180 1,154,828

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 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.

West Ranga (Oakwood) Ltd (Registered number: 12985756)

Balance Sheet - continued
31st October 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31st July 2024 and were signed on its behalf by:





J A Appleton-Metcalfe - Director


West Ranga (Oakwood) Ltd (Registered number: 12985756)

Notes to the Financial Statements
For The Year Ended 31st October 2023

1. STATUTORY INFORMATION

West Ranga (Oakwood) Ltd 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 as modified by the revaluation of certain assets.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The key assumptions concerning the future and other key sources of estimation uncertainty at the
reporting date that have a significant risk of causing a material adjustment to the carrying amounts of
assets and liabilities within the next financial year are those used to assess the fair value of the
investment property at each year end, which are explained in the accounting policy note below.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & equipment - 4 year straight line

West Ranga (Oakwood) Ltd (Registered number: 12985756)

Notes to the Financial Statements - continued
For The Year Ended 31st October 2023

2. ACCOUNTING POLICIES - continued

Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are
recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss
account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, liabilities that are due after more than 12 months are measured at amortised cost using the effective interest rate method, less impairment. Liabilities that are repayable on demand or within 12 months are reported at transaction price, less impairment.

Provisions for liabilities
Provisions for liabilities are recognised when the company has an obligation at the balance sheet date as a result of a past event; it is probable that there will be an outflow of economic benefit to discharge the obligation; and the amount of the obligation can be reliably estimated. Where these criteria are not met, a provision is not recognised in the financial statements but a contingent liability is disclosed if material. Amounts recoverable from third parties are only recognised as assets when the receipt is virtually certain. Provisions are measured at the best estimate of the amount required to settle the obligation at the balance sheet date. The best estimate is the amount which the company would rationally pay to settle the obligation at the balance sheet date. Provisions for liabilities are measured at the present value of the expenditures expected to be required in order to settle the obligation where the effects of the time value of money are material using a pre-tax rate which reflects current market assessments. Increases in the provision at each balance sheet date arising due to the passage of time are recognised in profit or loss as an interest expense.

Turnover and other income
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade
discounts.

Other income relates to rent, other property charges and interest receivable. Rental income and other
property charges are recognised when the company is entitled to receive income based on the
contractual agreement in force. Interest income is recognised using the effective interest method.

Interest payable and similar expenses
Interest payable and similar charges include loan interest payable and lending charges. Interest
payable is recognised in profit or loss as accrued, using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


West Ranga (Oakwood) Ltd (Registered number: 12985756)

Notes to the Financial Statements - continued
For The Year Ended 31st October 2023

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1st November 2022 9,559
Additions 14,910
At 31st October 2023 24,469
DEPRECIATION
At 1st November 2022 1,062
Charge for year 4,690
At 31st October 2023 5,752
NET BOOK VALUE
At 31st October 2023 18,717
At 31st October 2022 8,497

5. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1st November 2022
and 31st October 2023 3,925,000
NET BOOK VALUE
At 31st October 2023 3,925,000
At 31st October 2022 3,925,000

West Ranga (Oakwood) Ltd (Registered number: 12985756)

Notes to the Financial Statements - continued
For The Year Ended 31st October 2023

5. INVESTMENT PROPERTY - continued

The investment property is included in the balance sheet at fair value as at 31st October 2023.

The directors obtained a market valuation of the investment property dated 27th May 2022. The valuation was undertaken by Knight Frank LLP and was prepared in accordance with current RICS Valuation Guidelines.

The directors consider it appropriate to use the 27th May 2022 market value as the fair value of the investment property at 31 October 2023.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£ £
Trade debtors 31,580 15,594
Other debtors 44 44
Directors' current accounts 600 -
Called up share capital not paid 10 10
Prepayments and accrued income 9,795 12,012
42,029 27,660

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£ £
Trade creditors 2,980 11,275
Corporation Tax - 7,171
VAT 12,739 4,926
Other creditors 2,265,912 2,357,696
Accruals and deferred income 330,968 137,953
2,612,599 2,519,021

8. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 31.10.23 31.10.22
value: £ £
1,000 Ordinary share capital £0.01 10 10

9. RESERVES
Retained
earnings
£

At 1st November 2022 1,154,818
Deficit for the year (34,648 )
At 31st October 2023 1,120,170

Included within the retained earnings of £1,120,170 (2022: £1,154,818) are non-distributable reserves of £1,084,315 (2022 :£1,084,315). The non-distributable reserves are comprised of the fair value increase in the investment property of £1,445,753 (2022:£1,445,753) and a related deferred tax provision of £361,438 (2022:£361,438).

West Ranga (Oakwood) Ltd (Registered number: 12985756)

Notes to the Financial Statements - continued
For The Year Ended 31st October 2023

10. SECURITY

The company has provided security to The Royal Bank of Scotland PLC in relation to loan facilities that the bank has provided to West Ranga Property Group Limited. The security that the company has provided is by way of a charge over the freehold property owned by the company and a floating charge over all the property or undertakings of the company.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st October 2023 and 31st October 2022:

31.10.23 31.10.22
£ £
J A Appleton-Metcalfe
Balance outstanding at start of year - -
Amounts advanced 600 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 600 -

The director's loan is interest free, and is repayable on demand.

12. RELATED PARTY DISCLOSURES

At the year end, a loan of £1,258,692 (2022: £1,352,996) was outstanding to West Ranga Property Group Limited, a company in which the directors are both shareholders and directors. The loan is interest bearing and unsecured. See note 10 for details of security provided by the company in relation to the loans of West Ranga Property Group Limited.

At the year end, a loan of £10,000 (2022: £10,000) was outstanding to West Ranga (Eurocentral) Limited, a company in which the directors are both shareholders and directors.The loan is interest free and unsecured.

At the year end, a loan of £992,000 (2022: £992,000) was outstanding to Jalsh Limited, a company in which a director is both sole shareholder and director.

These three related party loans are repayable on demand and are disclosed as other creditors due within one year.