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REGISTERED NUMBER: 13206875 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

WAYFIELDCO LIMITED

WAYFIELDCO LIMITED (REGISTERED NUMBER: 13206875)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


WAYFIELDCO LIMITED

COMPANY INFORMATION
for the Year Ended 29 February 2024







DIRECTORS: Ms K E Street
J P Birkett
Mrs R L Birkett





REGISTERED OFFICE: 1-3 Alder Lane
Parbold
Wigan
Lancashire
WN8 7NL





REGISTERED NUMBER: 13206875 (England and Wales)





ACCOUNTANTS: Fairhurst
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB

WAYFIELDCO LIMITED (REGISTERED NUMBER: 13206875)

BALANCE SHEET
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 201,765 201,765
Investments 5 21,425 21,425
223,190 223,190

CREDITORS
Amounts falling due within one year 6 207,452 207,452
NET CURRENT LIABILITIES (207,452 ) (207,452 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

15,738

15,738

CAPITAL AND RESERVES
Called up share capital 8,422 8,422
Capital redemption reserve 7 11,578 11,578
Retained earnings 7 (4,262 ) (4,262 )
SHAREHOLDERS' FUNDS 15,738 15,738

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 August 2024 and were signed on its behalf by:





Ms K E Street - Director


WAYFIELDCO LIMITED (REGISTERED NUMBER: 13206875)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Wayfieldco 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.

Preparation of consolidated financial statements
The financial statements contain information about Wayfieldco Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Tangible fixed assets
Tangible fixed assets are recorded at cost less depreciation and impairment.

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

Land - not provided

Impairment of assets
At each reporting date assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit and loss.

Where an impairment loss subsequently reverses, the carrying amount of each asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Investments in subsidiaries
Fixed asset investments are stated at cost less provision for permanent diminution in value.

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


WAYFIELDCO LIMITED (REGISTERED NUMBER: 13206875)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024

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 NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1 March 2023
and 29 February 2024 201,765
NET BOOK VALUE
At 29 February 2024 201,765
At 28 February 2023 201,765

Included in cost of land and buildings is freehold land of £ 201,765 (2023 - £ 201,765 ) which is not depreciated.

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 March 2023
and 29 February 2024 21,425
NET BOOK VALUE
At 29 February 2024 21,425
At 28 February 2023 21,425

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 205,452 204,897
Taxation and social security - 555
Other creditors 2,000 2,000
207,452 207,452

WAYFIELDCO LIMITED (REGISTERED NUMBER: 13206875)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024

7. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 March 2023 (4,262 ) 11,578 7,316
Profit for the year 69,000 69,000
Dividends (69,000 ) (69,000 )
At 29 February 2024 (4,262 ) 11,578 7,316

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£    £   
D M Street
Balance outstanding at start of year - 576,486
Amounts repaid - (576,486 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Interest was charged at 2.5%.

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

During the year, total dividends of £69,000 (2023 - £36,000) were paid to the directors .

Included in Other creditors is £2,000 (2023: £2,000) due to the directors.