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REGISTERED NUMBER: 07629623 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

WEY DEVELOPMENTS LTD

WEY DEVELOPMENTS LTD (REGISTERED NUMBER: 07629623)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 8

WEY DEVELOPMENTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: Mr A Joyce
Mrs C A Joyce
Mr A G Scott





SECRETARY: Mrs C A Joyce





REGISTERED OFFICE: Woodside Cottage
Boundary Road
Dockenfield
Farnham
Surrey
GU10 4EU





REGISTERED NUMBER: 07629623 (England and Wales)





ACCOUNTANTS: LFM
Chartered Certified Accountants
The Stables
23b Lenten Street
Alton
Hampshire
GU34 1HG

WEY DEVELOPMENTS LTD (REGISTERED NUMBER: 07629623)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,532 7,224
Investments 5 1 1
7,533 7,225

CURRENT ASSETS
Stocks 633,655 530,645
Debtors 6 125,822 113,638
Cash at bank and in hand 43,475 182,813
802,952 827,096
CREDITORS
Amounts falling due within one year 7 351,208 323,644
NET CURRENT ASSETS 451,744 503,452
TOTAL ASSETS LESS CURRENT
LIABILITIES

459,277

510,677

CREDITORS
Amounts falling due after more than one
year

8

(455,000

)

(509,000

)

PROVISIONS FOR LIABILITIES (1,883 ) (1,373 )
NET ASSETS 2,394 304

CAPITAL AND RESERVES
Called up share capital 103 103
Retained earnings 2,291 201
SHAREHOLDERS' FUNDS 2,394 304

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.

WEY DEVELOPMENTS LTD (REGISTERED NUMBER: 07629623)

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 30 August 2024 and were signed on its behalf by:





Mr A Joyce - Director


WEY DEVELOPMENTS LTD (REGISTERED NUMBER: 07629623)

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

1. STATUTORY INFORMATION

Wey Developments Ltd 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 10 ) .

WEY DEVELOPMENTS LTD (REGISTERED NUMBER: 07629623)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2022 45,938
Additions 3,370
Disposals (998 )
At 30 November 2023 48,310
DEPRECIATION
At 1 December 2022 38,714
Charge for year 2,913
Eliminated on disposal (849 )
At 30 November 2023 40,778
NET BOOK VALUE
At 30 November 2023 7,532
At 30 November 2022 7,224

5. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 December 2022
and 30 November 2023 1
NET BOOK VALUE
At 30 November 2023 1
At 30 November 2022 1

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 3,071 43
Amounts owed by participating interests 88,961 91,102
Other debtors 33,790 22,493
125,822 113,638

WEY DEVELOPMENTS LTD (REGISTERED NUMBER: 07629623)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 5,700
Trade creditors 124,255 66,309
Amounts owed to participating interests - 6,721
Taxation and social security 93,019 110,584
Other creditors 133,934 134,330
351,208 323,644

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 455,000 509,000

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2023 and 30 November 2022:

2023 2022
£    £   
Mr A G Scott
Balance outstanding at start of year 6,014 64,391
Amounts advanced 27,364 28,093
Amounts repaid (20,362 ) (86,470 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 13,016 6,014

Mr A Joyce and Mrs C A Joyce
Balance outstanding at start of year 13,988 10,576
Amounts advanced 71,448 102,593
Amounts repaid (66,774 ) (99,181 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 18,662 13,988

Interest was charged on the loan at a rate of 2%-2.25% per annum. Interest charged is included within other interest received. All overdue loans were repaid in full within 9 months on the financial year.

10. ULTIMATE CONTROLLING PARTY

No one individual has the ultimate control of the company.

11. PERSONAL GUARANTEES

Mr A Joyce and Mrs C A Joyce provided a personal guarantee for the following loans included within other creditors:

a. loan from J & A Cassidy for £50,000

WEY DEVELOPMENTS LTD (REGISTERED NUMBER: 07629623)

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

12. LEGAL CHARGES

The following legal charges existed during the period:

Mr J Burch legal charge over the property at 73 Shortheath Road, Farnham, Surrey, GU9 8SF.

E Joyce and D J Ingham legal charge over over the property at 73 Shortheath Road, Farnham, Surrey, GU9 8SF.

Mr B Carter legal charge over the property at 73 Shortheath Road, Farnham, Surrey, GU9 8SF.

Mr and Mrs Brinsley legal charge over the property at 25 Middle Bourne Lane, Surrey, GU10 3NH.

BJ Wilson legal charge over the property at 25 Middle Bourne Lane, Surrey, GU10 3NH.

DG Stamp legal charge over the property at 25 Middle Bourne Lane, Surrey, GU10 3NH.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
WEY DEVELOPMENTS LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Wey Developments Ltd for the year ended 30 November 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Wey Developments Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Wey Developments Ltd and state those matters that we have agreed to state to the Board of Directors of Wey Developments Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Wey Developments Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Wey Developments Ltd. You consider that Wey Developments Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Wey Developments Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






LFM
Chartered Certified Accountants
The Stables
23b Lenten Street
Alton
Hampshire
GU34 1HG


30 August 2024