REGISTERED NUMBER: |
WELSHPOOL HOLDINGS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 JANUARY 2023 TO 31 MARCH 2024 |
REGISTERED NUMBER: |
WELSHPOOL HOLDINGS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 JANUARY 2023 TO 31 MARCH 2024 |
WELSHPOOL HOLDINGS LIMITED (REGISTERED NUMBER: 07059524) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2023 TO 31 MARCH 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
WELSHPOOL HOLDINGS LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 1 JANUARY 2023 TO 31 MARCH 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
WELSHPOOL HOLDINGS LIMITED (REGISTERED NUMBER: 07059524) |
STATEMENT OF FINANCIAL POSITION |
31 MARCH 2024 |
2024 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
WELSHPOOL HOLDINGS LIMITED (REGISTERED NUMBER: 07059524) |
STATEMENT OF FINANCIAL POSITION - continued |
31 MARCH 2024 |
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. |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
WELSHPOOL HOLDINGS LIMITED (REGISTERED NUMBER: 07059524) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2023 TO 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Welshpool Holdings Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Welshpool Holdings 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. |
Turnover |
Turnover represents net invoiced sales, excluding value added tax. |
Tangible fixed assets |
Fixtures and fittings | - |
Freehold Property has not been depreciated as in the opinion of the directors, the depreciation charge and accumulated depreciation would be immaterial due to the long economic life and high residual value of the freehold property. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date. |
WELSHPOOL HOLDINGS LIMITED (REGISTERED NUMBER: 07059524) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JANUARY 2023 TO 31 MARCH 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 statement of financial position 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 period 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 period was NIL (2022 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and |
property | fittings | Totals |
£ | £ | £ |
COST |
At 1 January 2023 |
and 31 March 2024 |
DEPRECIATION |
At 1 January 2023 |
Charge for period |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 December 2022 |
Freehold Property has not been depreciated as in the opinion of the directors, the depreciation charge and accumulated depreciation would be immaterial due to the long economic life and high residual value of the freehold property. |
WELSHPOOL HOLDINGS LIMITED (REGISTERED NUMBER: 07059524) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JANUARY 2023 TO 31 MARCH 2024 |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 January 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 December 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2022 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2022 |
£ | £ |
Bank loans and overdrafts |
Taxation and social security |
Other creditors |
8. | SECURED DEBTS |
The group bank borrowings are secured by a mortgage over the freehold property and fixed and floating charge over all assets. |
9. | CONTINGENT LIABILITIES |
The company has provided a guarantee for all bank borrowings of Welshpool Livestock Sales Limited, a wholly owned subsidiary. |
10. | RELATED PARTY DISCLOSURES |
At 31 March 2024 there was an amount due from a wholly owned subsidiary of £1,041,377 (2022: £976,848) |
At 31 March 2024 included in other creditors, there were amounts due of £1,715,652 (2022 £1,715,652) to controlling parties. |
WELSHPOOL HOLDINGS LIMITED (REGISTERED NUMBER: 07059524) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JANUARY 2023 TO 31 MARCH 2024 |
11. | CONTROLLING PARTY |
The controlling party is Messrs Morris Marshall & Poole with Norman Lloyd who owns 100% of the share capital. |