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REGISTERED NUMBER: 00445443 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

WEEKES BROTHERS (WELLING) LIMITED

WEEKES BROTHERS (WELLING) LIMITED (REGISTERED NUMBER: 00445443)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


WEEKES BROTHERS (WELLING) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: J G Weekes
L H Bain
G E Bryan
S L Hone
J M Weekes





SECRETARY: P M Cumins





REGISTERED OFFICE: Darenth Court Farm
Darenth Hill
Dartford
Kent
DA2 7QY





REGISTERED NUMBER: 00445443 (England and Wales)





ACCOUNTANTS: Myrus Smith
Chartered Accountants
Norman House
8 Burnell Road
Sutton
Surrey
SM1 4BW

WEEKES BROTHERS (WELLING) LIMITED (REGISTERED NUMBER: 00445443)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 18,509 19,844
Investments 5 - 300,000
Investment property 6 8,903,211 8,895,000
8,921,720 9,214,844

CURRENT ASSETS
Debtors 7 36,439 90,882
Cash at bank and in hand 601,485 922,385
637,924 1,013,267
CREDITORS
Amounts falling due within one year 8 85,669 175,719
NET CURRENT ASSETS 552,255 837,548
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,473,975

10,052,392

PROVISIONS FOR LIABILITIES 1,183,847 1,476,342
NET ASSETS 8,290,128 8,576,050

CAPITAL AND RESERVES
Called up share capital 3,150 3,150
Capital redemption reserve 9 2,850 2,850
Other reserves 9 20,000 20,000
Non-distributable Revaluation
Reserve 9 4,664,494 4,372,964
Retained earnings 9 3,599,634 4,177,086
SHAREHOLDERS' FUNDS 8,290,128 8,576,050

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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.

WEEKES BROTHERS (WELLING) LIMITED (REGISTERED NUMBER: 00445443)

BALANCE SHEET - continued
30 NOVEMBER 2023


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 9 August 2024 and were signed on its behalf by:





J G Weekes - Director


WEEKES BROTHERS (WELLING) LIMITED (REGISTERED NUMBER: 00445443)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023


1. STATUTORY INFORMATION

Weekes Brothers (Welling) 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Depreciation
Depreciation is calculated to write down the cost, less estimated residual value, of all tangible fixed assets over their expected useful lives. The rates generally applicable are:

Plant and fixtures10 - 25% straight line
Freehold buildings2% - 10% straight line
Computer equipment25% straight line
Motor vehicles20% straight line

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.

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.

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.

WEEKES BROTHERS (WELLING) LIMITED (REGISTERED NUMBER: 00445443)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


2. ACCOUNTING POLICIES - continued

Debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the Income Statement.

Fixed asset investments
Fixed asset investments are included at market value. Gains or losses arising from disposals of fixed asset investments are treated as part of the result from ordinary activities.

Investment income comprises interest received from redeemable cumulative preference shares declared during this accounting period.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2022 85,197
Additions 6,333
At 30 November 2023 91,530
DEPRECIATION
At 1 December 2022 65,353
Charge for year 7,668
At 30 November 2023 73,021
NET BOOK VALUE
At 30 November 2023 18,509
At 30 November 2022 19,844


WEEKES BROTHERS (WELLING) LIMITED (REGISTERED NUMBER: 00445443)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


5. FIXED ASSET INVESTMENTS

Unlisted investments at cost and net book value: £Nil at 30 November 2023 and £300,000 at 30 November 2022.

The investments were in 300,000 £1 preference shares issued by E.W.T. (Dartford) Limited, a company registered in England and Wales engaged in the activity of transport.

The preference shares carried a 5% annual cumulative preference dividend payable on 30 April and 31 October each year in arrears. On a return of capital there shall be a return of nominal value and arrears of dividend in preference to the holders of ordinary shares. The preference shares have no voting rights save upon matters affecting the preference shareholders as a class. Total interest of £14,086 (2022 - £15,000) was receivable in the year from the company's investment in the redeemable preference shares.

The investments were disposed in September 2023.

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022 8,895,000
Additions 8,211
At 30 November 2023 8,903,211
NET BOOK VALUE
At 30 November 2023 8,903,211
At 30 November 2022 8,895,000

There was an informal valuation undertaken during the year by the Estate Agent, Strutt and Parker.

The historical cost of the properties at 30 November 2023 was £3,072,593 (2022: £3,064,382).

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2020 1,959,192
Valuation in 2022 3,871,426
Cost 3,072,593
8,903,211

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 7,410 6,410
Other debtors 29,029 84,472
36,439 90,882

WEEKES BROTHERS (WELLING) LIMITED (REGISTERED NUMBER: 00445443)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 22,499 60,263
Taxation and social security 21,067 28,685
Other creditors 42,103 86,771
85,669 175,719

9. RESERVES
Capital Non-distributable
Retained redemption Other Revaluation
earnings reserve reserves Reserve Totals
£    £    £    £    £   

At 1 December 2022 4,177,086 2,850 20,000 4,372,964 8,572,900
Profit for the year 283,110 283,110
Dividends (569,032 ) (569,032 )
Movement in reserves (291,530 ) - - 291,530 -
At 30 November 2023 3,599,634 2,850 20,000 4,664,494 8,286,978