1 April 2023 false No description of principal activity Taxfiler 2024.4 01011987business:PrivateLimitedCompanyLtd2023-04-012024-03-31 010119872023-03-31 010119872023-04-012024-03-31 01011987business:AuditExempt-NoAccountantsReport2023-04-012024-03-31 01011987business:FilletedAccounts2023-04-012024-03-31 010119872024-03-31 01011987business:Director12023-04-012024-03-31 01011987business:Director22023-04-012024-03-31 01011987business:Director32023-04-012024-03-31 01011987business:CompanySecretary12023-04-012024-03-31 01011987business:RegisteredOffice2023-04-012024-03-31 010119872023-03-31 01011987core:WithinOneYear2024-03-31 01011987core:WithinOneYear2023-03-31 01011987core:ShareCapitalcore:PreviouslyStatedAmount2024-03-31 01011987core:ShareCapitalcore:PreviouslyStatedAmount2023-03-31 01011987core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-03-31 01011987core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-03-31 01011987core:PreviouslyStatedAmount2024-03-31 01011987core:PreviouslyStatedAmount2023-03-31 01011987business:SmallEntities2023-04-012024-03-31 01011987countries:EnglandWales2023-04-012024-03-31 01011987core:LandBuildings2023-04-012024-03-31 01011987core:PlantMachinery2023-04-012024-03-31 01011987core:MotorVehicles2023-04-012024-03-31 01011987core:FurnitureFittings2023-04-012024-03-31 01011987core:LandBuildings2023-03-31 01011987core:PlantMachinery2023-03-31 01011987core:MotorVehicles2023-03-31 01011987core:FurnitureFittings2023-03-31 01011987core:LandBuildings2024-03-31 01011987core:PlantMachinery2024-03-31 01011987core:MotorVehicles2024-03-31 01011987core:FurnitureFittings2024-03-31 01011987business:OrdinaryShareClass12023-04-012024-03-31 01011987business:OrdinaryShareClass12022-04-012023-03-31 01011987business:PreferenceShareClass12023-04-012024-03-31 01011987business:PreferenceShareClass12022-04-012023-03-31 010119872022-04-012023-03-31 01011987business:Director312023-04-012024-03-31 01011987business:Director312023-03-31 01011987business:Director312024-03-31 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 01011987 (England and Wales)
Wedge Homes Limited Unaudited accounts for the year ended 31 March 2024
Wedge Homes Limited Unaudited accounts Contents
Page
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Wedge Homes Limited Company Information for the year ended 31 March 2024
Directors
David Turner James Wedge Laura Wellesley
Secretary
David Turner
Company Number
01011987 (England and Wales)
Registered Office
Unit 11 Worton Court Worton Hall Industrial Estate Worton Road, Isleworth Middlesex TW7 6ER UK
Accountants
CP Finance Unit 11, Worton Court Worton Hall Ind Estate Worton Road Isleworth Middlesex TW7 6ER
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Wedge Homes Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
2 
6,347 
Investments
1 
1 
3 
6,348 
Current assets
Inventories
1,374,424 
855,190 
Debtors
1,597,275 
1,469,145 
Cash at bank and in hand
95,320 
181,003 
3,067,019 
2,505,338 
Creditors: amounts falling due within one year
(1,106,306)
(392,475)
Net current assets
1,960,713 
2,112,863 
Net assets
1,960,716 
2,119,211 
Capital and reserves
Called up share capital
2,230,800 
2,230,800 
Profit and loss account
(270,084)
(111,589)
Shareholders' funds
1,960,716 
2,119,211 
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 2 August 2024 and were signed on its behalf by
David Turner Director Company Registration No. 01011987
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Wedge Homes Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Wedge Homes Limited is a private company, limited by shares, registered in England and Wales, registration number 01011987. The registered office is Unit 11 Worton Court, Worton Hall Industrial Estate, Worton Road, Isleworth, Middlesex, TW7 6ER, UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% per annum straight line
Plant & machinery
33.33% per annum straight line
Motor vehicles
25% per annum straight line
Fixtures & fittings
33.33% per annum straight line
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 April 2023
11,750 
3,142 
32,998 
741 
48,631 
Disposals
(11,750)
- 
- 
- 
(11,750)
At 31 March 2024
- 
3,142 
32,998 
741 
36,881 
Depreciation
At 1 April 2023
5,405 
3,142 
32,996 
741 
42,284 
On disposals
(5,405)
- 
- 
- 
(5,405)
At 31 March 2024
- 
3,142 
32,996 
741 
36,879 
Net book value
At 31 March 2024
- 
- 
2 
- 
2 
At 31 March 2023
6,345 
- 
2 
- 
6,347 
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Wedge Homes Limited Notes to the Accounts for the year ended 31 March 2024
5
Investments
Subsidiary undertakings 
£ 
Valuation at 1 April 2023
1 
Valuation at 31 March 2024
1 
This represents the 100% holding in Parkway Developments Ltd a dormant company. The company is also a 50% partner in Manor Stables Development LLP and Manor Gatehouse Development LLP, two JV's set up to develop residential development sites. The company is also a 25% partner in Devoir Developments LLP, a JV set up to develop residential property sites.
6
Inventories
2024 
2023 
£ 
£ 
Work in progress
1,374,424 
855,190 
1,374,424 
855,190 
WIP represents development sites being developed by the company, or work on related party property which is subsequently recharges to them.
7
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
3,193 
- 
Trade debtors
22,156 
44,929 
Accrued income and prepayments
593 
1,523 
Other debtors
1,571,333 
1,422,693 
1,597,275 
1,469,145 
8
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
- 
20,250 
Trade creditors
61,410 
79,390 
Amounts owed to group undertakings and other participating interests
486 
- 
Taxes and social security
9,871 
8,522 
Other creditors
1,025,397 
133,846 
Loans from directors
9,142 
148,730 
Accruals
- 
1,737 
1,106,306 
392,475 
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Wedge Homes Limited Notes to the Accounts for the year ended 31 March 2024
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000 
1,000 
2,229,800 £1 preference shares of £1 each
2,229,800 
2,229,800 
2,230,800 
2,230,800 
10
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Laura Wellesley
Loan owed by / (to) director
(148,730)
139,588 
- 
(9,142)
(148,730)
139,588 
- 
(9,142)
11
Transactions with related parties
The company has various amounts owed by related parties for amounts owed by them. The largest are: Manor Stables Development LLP £84,453 (2023 : £84,090) and Manor Gatehouse Development LLP £269,455 (2023 : £276,600), both funding amounts that the company has a 50% interest in each LLP to develop residential sites. Devoir Developments LLP £588,872 (2023 : £nil) funding amounts the company has a 25% interest in to develop residential sites. BBT Wedge Ltd £207,536 (2023 : £nil) a funding amount for a development of a residential site. Ordie Investments Ltd £379,331 a funding amount for a development of a residential property. Various amounts owed to related companies are: Wedge Investments Ltd £737,528 (2023 : £147,321) - funding. JW Cline Road Ltd £281,700 (2023 : £31,333) - funding
12
Average number of employees
During the year the average number of employees was 7 (2023: 7).
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