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Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Wolfelands Limited

Wolfelands Limited (Registered number: 04406736)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Wolfelands Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: P R Cashmore
Mrs K M Cashmore
Ms E Cade
Mrs R L Rosner





SECRETARY: Ms E Cade





REGISTERED OFFICE: Wolfelands
High Street
Westerham
Kent
TN16 1RQ





REGISTERED NUMBER: 04406736 (England and Wales)





ACCOUNTANTS: Williams & Co Epsom LLP
Chartered Accountants
8-10 South Street
Epsom
Surrey
KT18 7PF

Wolfelands Limited (Registered number: 04406736)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 104,545 109,352
Investment property 5 1,907,393 1,907,393
2,011,938 2,016,745

CURRENT ASSETS
Debtors 6 13,173 13,553
Cash at bank and in hand 395,277 341,445
408,450 354,998
CREDITORS
Amounts falling due within one year 7 605,779 559,135
NET CURRENT LIABILITIES (197,329 ) (204,137 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,814,609

1,812,608

CREDITORS
Amounts falling due after more than one
year

8

(645,433

)

(662,032

)

PROVISIONS FOR LIABILITIES (25,869 ) (25,869 )
NET ASSETS 1,143,307 1,124,707

CAPITAL AND RESERVES
Called up share capital 9 6 6
Other reserves - non distribut
able 449,058 449,058
Retained earnings 694,243 675,643
SHAREHOLDERS' FUNDS 1,143,307 1,124,707

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Wolfelands Limited (Registered number: 04406736)

Balance Sheet - continued
31 March 2024


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 4 July 2024 and were signed on its behalf by:





Ms E Cade - Director


Wolfelands Limited (Registered number: 04406736)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Wolfelands 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 as modified by the revaluation of certain assets.

Turnover
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, net of Value Added Tax where applicable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - Straight line over 3 years
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 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.

Investment properties for which fair value can be measured reliably without undue cost or effort on an ongoing basis are measured at fair value every 5 years with any change recognised in the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 98,224 44,289 125,597 25,048 293,158
Additions - - 42,045 - 42,045
At 31 March 2024 98,224 44,289 167,642 25,048 335,203
DEPRECIATION
At 1 April 2023 74,540 43,737 44,623 20,906 183,806
Charge for year 23,684 138 21,995 1,035 46,852
At 31 March 2024 98,224 43,875 66,618 21,941 230,658
NET BOOK VALUE
At 31 March 2024 - 414 101,024 3,107 104,545
At 31 March 2023 23,684 552 80,974 4,142 109,352

Wolfelands Limited (Registered number: 04406736)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 1,907,393
NET BOOK VALUE
At 31 March 2024 1,907,393
At 31 March 2023 1,907,393

The 2015 valuations were made by Karrison (Westerham), chartered surveyors, on an open market value for existing use basis. The original cost of the properties is £1,437,267. In the opinion of the directors there has been no material change in value of the property.

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2015 449,058
Cost 1,458,335
1,907,393

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 12,167
VAT 11,864 -
Prepayments and accrued income 1,309 1,386
13,173 13,553

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 30,375 16,605
Trade creditors 8,271 9,545
Tax 17,945 19,404
VAT - 10,318
Other creditors 16,879 41,243
Directors' current accounts 438,663 427,145
Accruals and deferred income 93,646 34,875
605,779 559,135

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Loans 600,107 586,766
Hire purchase contracts 45,326 75,266
645,433 662,032

Loans relate to a loan provided by Wolfelands discretionary trust, on which interest is payable at 8%.

Wolfelands Limited (Registered number: 04406736)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1.00 2 2
16 Cumulative preference 25p 4 4
6 6

All non voting cumulate preference shares have an entitlement to a dividend of £2,500 per annum per share.

10. RELATED PARTY DISCLOSURES

At the year end, the company owed £600,107 (2023 - £586,766) to the Wolfelands Discretionary Trust.

At the year end, the company owed various directors a total of £438,663 (2023 - £427,145).

11. ULTIMATE CONTROLLING PARTY

The directors consider that Mrs E Cade and Mrs R Rosner have joint control over the company.