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REGISTERED NUMBER: 12282030 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

Warcombe Estates Limited

Warcombe Estates Limited (Registered number: 12282030)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


Warcombe Estates Limited

COMPANY INFORMATION
for the year ended 31 March 2024







Directors: P Robson
W Robson





Registered office: Long Park Farm
Warcombe
Kingsbridge
Devon
TQ7 4BW





Registered number: 12282030 (England and Wales)





Accountants: Nigel Webster & Co
129 North Hill
Plymouth
Devon
PL4 8JY

Warcombe Estates Limited (Registered number: 12282030)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 71,420 71,420
Investments 5 544,000 537,000
615,420 608,420

Current assets
Debtors 6 838 860
Cash at bank 7,411 73,364
8,249 74,224
Creditors
Amounts falling due within one year 7 455,425 532,259
Net current liabilities (447,176 ) (458,035 )
Total assets less current liabilities 168,244 150,385

Provisions for liabilities 8 32,500 13,110
Net assets 135,744 137,275

Capital and reserves
Called up share capital 9 2 2
Revaluation reserve 10 97,354 109,744
Retained earnings 38,388 27,529
Shareholders' funds 135,744 137,275

Warcombe Estates Limited (Registered number: 12282030)

BALANCE SHEET - continued
31 March 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 September 2024 and were signed on its behalf by:





W Robson - Director


Warcombe Estates Limited (Registered number: 12282030)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Warcombe Estates 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 fixed assets.

The accounts disclose significant net current liabilities as at the balance sheet date as current liabilities include loans from the directors as noted in the related party note which are repayable upon demand. The directors intend to continue supporting the company into the forseeable future.

Investment properties
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit and loss.

Turnover
Turnover represents rents receivable from letting of residential properties and farmland during the period adjusted for amounts in advance/arrears at the balance sheet date.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated life:

Freehold land - Nil

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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.


Warcombe Estates Limited (Registered number: 12282030)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 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 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.

Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
Cost
At 1 April 2023
and 31 March 2024 71,420
Net book value
At 31 March 2024 71,420
At 31 March 2023 71,420

Warcombe Estates Limited (Registered number: 12282030)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

5. FIXED ASSET INVESTMENTS
Investment
properties
£   
Cost or valuation
At 1 April 2023 537,000
Revaluations 7,000
At 31 March 2024 544,000
Net book value
At 31 March 2024 544,000
At 31 March 2023 537,000

Cost or valuation at 31 March 2024 is represented by:

Investment
properties
£   
Valuation in 2021 53,854
Valuation in 2023 69,000
Valuation in 2024 7,000
Cost 414,146
544,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 838 860

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 2,500 3,000
Other creditors 452,925 529,259
455,425 532,259

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 32,500 13,110

Warcombe Estates Limited (Registered number: 12282030)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 13,110
Provided during year 19,390
Balance at 31 March 2024 32,500

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

10. RESERVES
Revaluation
reserve
£   
At 1 April 2023 109,744
Transfer to revaluation
reserve (12,390 )

At 31 March 2024 97,354

11. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed the following amounts to related parties:-

P Robson Director and shareholder £184,367
W Robson Director and shareholder £266,888

12. ULTIMATE CONTROLLING PARTY

The company is ultimately controlled by the directors.