Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falsepetrol forecourt and shop1717truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 3750687 2023-01-01 2023-12-31 3750687 2022-01-01 2022-12-31 3750687 2023-12-31 3750687 2022-12-31 3750687 2022-01-01 3750687 c:CompanySecretary1 2023-01-01 2023-12-31 3750687 c:Director1 2023-01-01 2023-12-31 3750687 c:Director2 2023-01-01 2023-12-31 3750687 c:Director2 2023-12-31 3750687 c:RegisteredOffice 2023-01-01 2023-12-31 3750687 d:Buildings d:ShortLeaseholdAssets 2023-01-01 2023-12-31 3750687 d:Buildings d:ShortLeaseholdAssets 2023-12-31 3750687 d:Buildings d:ShortLeaseholdAssets 2022-12-31 3750687 d:FurnitureFittings 2023-01-01 2023-12-31 3750687 d:FurnitureFittings 2023-12-31 3750687 d:FurnitureFittings 2022-12-31 3750687 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 3750687 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 3750687 d:CurrentFinancialInstruments 2023-12-31 3750687 d:CurrentFinancialInstruments 2022-12-31 3750687 d:Non-currentFinancialInstruments 2023-12-31 3750687 d:Non-currentFinancialInstruments 2022-12-31 3750687 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 3750687 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 3750687 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 3750687 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 3750687 d:ShareCapital 2023-12-31 3750687 d:ShareCapital 2022-12-31 3750687 d:ShareCapital 2022-01-01 3750687 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 3750687 d:RetainedEarningsAccumulatedLosses 2023-12-31 3750687 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 3750687 d:RetainedEarningsAccumulatedLosses 2022-12-31 3750687 d:RetainedEarningsAccumulatedLosses 2022-01-01 3750687 c:FRS102 2023-01-01 2023-12-31 3750687 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 3750687 c:FullAccounts 2023-01-01 2023-12-31 3750687 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 3750687 2 2023-01-01 2023-12-31 3750687 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 3750687 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 3750687 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 3750687









WOLFE WESTERHAM LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
WOLFE WESTERHAM LIMITED
 
 
COMPANY INFORMATION


Directors
J Brooks 
L Johnson (appointed 1 October 2023)




Company secretary
J Brooks



Registered number
3750687



Registered office
190 London Road
Westerham

Kent

TN16 2DJ




Accountants
Creasey Son & Wickenden
Chartered Accountants

Hearts of Oak House

4 Pembroke Road

Sevenoaks

Kent

TN13 1XR





 
WOLFE WESTERHAM LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Statement of changes in equity
 
3
Notes to the financial statements
 
4 - 11


 
WOLFE WESTERHAM LIMITED
REGISTERED NUMBER: 3750687

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 6 
334,059
372,470

  
334,059
372,470

Current assets
  

Stocks
  
188,727
205,706

Debtors: amounts falling due within one year
 7 
108,728
120,661

Cash at bank and in hand
 8 
358,868
327,893

  
656,323
654,260

Creditors: amounts falling due within one year
 9 
(362,966)
(305,293)

Net current assets
  
 
 
293,357
 
 
348,967

Total assets less current liabilities
  
627,416
721,437

Creditors: amounts falling due after more than one year
 10 
(110,814)
(175,846)

Provisions for liabilities
  

Deferred tax
 11 
(21,983)
(17,050)

  
 
 
(21,983)
 
 
(17,050)

Net assets
  
494,619
528,541


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
494,617
528,539

  
494,619
528,541


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

Page 1

 
WOLFE WESTERHAM LIMITED
REGISTERED NUMBER: 3750687
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 12 August 2024.




J Brooks
Director

The notes on pages 4 to 11 form part of these financial statements.

Page 2

 
WOLFE WESTERHAM LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 January 2022
2
347,934
347,936



Profit for the year
-
230,605
230,605

Dividends: Equity capital
-
(50,000)
(50,000)


At 1 January 2023
2
528,539
528,541



Profit for the year
-
216,078
216,078

Dividends: Equity capital
-
(250,000)
(250,000)


At 31 December 2023
2
494,617
494,619


The notes on pages 4 to 11 form part of these financial statements.

Page 3

 
WOLFE WESTERHAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Wolfe Westerham Limited ("the company") is a limited liability company limited by shares, domiciled and incorporated in England and Wales. The address of its registered office and principal place of business is 190 London Road, Westerham, Kent, TN16 2DJ.
The company's principal activity is that of a forecourt and a convenience store.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling which is the functional currency of the company and rounded to the nearest £. They present information for this company alone.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 
WOLFE WESTERHAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Company can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 5

 
WOLFE WESTERHAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Short leasehold improvements
-
Over the life of the lease
Furniture, fittings and equipment
-
10%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 6

 
WOLFE WESTERHAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimates means that actual outcomes could differ from those estimates. The following judgements have had the most significant effect upon amounts recognised in these financial statements:
Useful economic lives of tangible assets
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technology advancement, future investments, economic utilisation and the physical condition of the assets.


4.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Directors
1
2



Shop staff
16
15

17
17

Page 7

 
WOLFE WESTERHAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Directors' remuneration

2023
2022
£
£

Directors' emoluments
51,500
48,750

Company contributions to defined contribution pension schemes
3,000
3,000

54,500
51,750



6.


TANGIBLE FIXED ASSETS





Short-term leasehold property
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 January 2023
746,732
217,739
964,471


Additions
-
19,907
19,907


Disposals
-
(25,672)
(25,672)



At 31 December 2023

746,732
211,974
958,706



Depreciation


At 1 January 2023
468,955
123,046
592,001


Charge for the year on owned assets
35,713
10,222
45,935


Disposals
-
(13,289)
(13,289)



At 31 December 2023

504,668
119,979
624,647



Net book value



At 31 December 2023
242,064
91,995
334,059



At 31 December 2022
277,777
94,693
372,470

Page 8

 
WOLFE WESTERHAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Debtors

2023
2022
£
£


Trade debtors
78,342
87,460

Amounts owed by group undertakings
17,959
20,379

Prepayments and accrued income
12,427
12,822

108,728
120,661



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
358,868
327,893



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
208,239
186,627

Amounts owed to group undertakings
61
-

Corporation tax
79,508
64,425

Other taxation and social security
63,349
44,727

Other creditors
40
40

Accruals and deferred income
11,769
9,474

362,966
305,293


Page 9

 
WOLFE WESTERHAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Amounts owed to group undertakings
110,814
175,846


The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:

2023
2022
£
£


Repayable by instalments
110,814
175,846

Interest is charged on the outstanding loan balance at 4% above the Bank of England base rate and is due for repayment by December 2029.


11.


Deferred taxation




2023


£






At beginning of year
(17,050)


Charged to profit or loss
(4,933)



At end of year
(21,983)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(21,983)
(17,050)


12.


Contingent liabilities

The company has given an unlimited cross guarantee in respect of bank loans and overdrafts of certain group companies.


13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £8,353 (2022 - £8,716). 

Page 10

 
WOLFE WESTERHAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

14.


Related party transactions

During the year the entity entered into transactions, in the ordinary course of business, with other related parties. Transactions entered into, and trading balances outstanding at 31 December, are as follows:


Sales to related party
Purchases from related party
Amounts owed from related party
Amounts owed to related party
£
£
£
£

Entities with control over the entity
2023
-
77,700
-
110,937
2022
-
77,700
-
175,846
Other related parties
2023
4,865
25,395
17,959
-
2022
3,573
21,379
20,379
-
Management personnel and family
2023
3,462
-
419
-
2022
4,576
-
6,375
-


15.


Controlling party

The immediate and ultimate parent company is Wolfe Estates Limited, a company registered in England and Wales. Accounts for Wolfe Estates Limited may be obtained from:
Companies House
Crown Way
Maindy
Cardiff
CF14 3UZ

 
Page 11