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
Wedge Homes Limited
Company Information
for the year ended 31 March 2024
Directors
David Turner
James Wedge
Laura Wellesley
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
Wedge Homes Limited
Statement of financial position
as at 31 March 2024
Inventories
1,374,424
855,190
Debtors
1,597,275
1,469,145
Cash at bank and in hand
95,320
181,003
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
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
Wedge Homes Limited
Notes to the Accounts
for the year ended 31 March 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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
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
At 31 March 2024
-
-
2
-
2
At 31 March 2023
6,345
-
2
-
6,347
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.
Work in progress
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.
Amounts falling due within one year
Trade debtors
22,156
44,929
Accrued income and prepayments
593
1,523
Other debtors
1,571,333
1,422,693
8
Creditors: amounts falling due within one year
2024
2023
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
Wedge Homes Limited
Notes to the Accounts
for the year ended 31 March 2024
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
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
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).