Year Ended
Registration number:
Wield Park Estate Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Wield Park Estate Limited
Company Information
Directors |
Mr A J A Dunn Mr N D Parker |
Registered office |
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Accountants |
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Wield Park Estate Limited
Balance Sheet
31 March 2024
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2024 |
2023 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current liabilities |
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Net liabilities |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' deficit |
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Wield Park Estate Limited
Balance Sheet
31 March 2024
For the financial 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.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Company Registration Number: 09865157
Wield Park Estate Limited
Notes to the Unaudited Financial Statements
Year Ended 31 March 2024
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
At the time of approving the financial statements, the director has reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
Wield Park Estate Limited
Notes to the Unaudited Financial Statements
Year Ended 31 March 2024
Revenue recognition
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into accoount trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from the sale of goods is recognised when significant risks and rewards of ownership of the goods have passed to the buyer ( usually on dispatch of goods), the amount of revenue can be measured reliably , it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Rental income on assets leased under operating lease is recognised on straight line basis over the lease term and is presented within other operating income.
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when performance conditions are met. When a grant does not specify performance conditions it is recognised in income when proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
Tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Wield Park Estate Limited
Notes to the Unaudited Financial Statements
Year Ended 31 March 2024
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Freehold land is not depreciated
Asset class |
Depreciation method and rate |
Freehold land and building |
50 years straight line (excluding freehold land) |
Plant and machinery |
5 years straight line |
Fixtures and fittings |
10 years straight line |
Intangible assets
Intangible assets acquired separately from a business are recognised at cost are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised seperately from goodwill at acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably, the intangible asset arises from contractual or other legal rights and the intangible asset is seperable from the entity.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Entitlements |
7 years straight line |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost represents expenditure incurred on each annual harvest, less the proportion of that harvest which has been sold.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.
Rental income from operating leases is recognised on a straight line basis over the term of relevant lease. Intial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the lease asset and recognised on a straight line basis over the lease term.
Wield Park Estate Limited
Notes to the Unaudited Financial Statements
Year Ended 31 March 2024
Financial instruments
Classification
•Short term trade and other debtors;
• trade and other creditors
• loans from fellow group companies
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Debt instruments are subsequently carried at amortised cost, using effective interest rate method
Equity instruments issued by the company are recorded at the fair value of proceeds received, net of transaction costs.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Wield Park Estate Limited
Notes to the Unaudited Financial Statements
Year Ended 31 March 2024
Intangible assets |
Trademarks, patents and licenses |
Total |
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Cost or valuation |
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At 1 April 2023 |
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Disposals |
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At 31 March 2024 |
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Amortisation |
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At 1 April 2023 |
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Amortisation eliminated on disposals |
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At 31 March 2024 |
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Carrying amount |
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At 31 March 2024 |
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At 31 March 2023 |
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The aggregate amount of research and development expenditure recognised as an expense during the period is £
Wield Park Estate Limited
Notes to the Unaudited Financial Statements
Year Ended 31 March 2024
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 April 2023 |
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Additions |
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At 31 March 2024 |
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Depreciation |
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At 1 April 2023 |
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Charge for the year |
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At 31 March 2024 |
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Carrying amount |
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At 31 March 2024 |
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At 31 March 2023 |
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Wield Park Estate Limited
Notes to the Unaudited Financial Statements
Year Ended 31 March 2024
Debtors |
2024 |
2023 |
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Trade debtors |
- |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings |
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Other creditors |
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Amounts due to the parent company of £3,983,793 (2023: 3,954,900) are interest free and there are no fixed terms for repayment. The parent company has given assurances that they will not request repayment of the balance for 12 months following the date of signing of these financial statements.
Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is