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REGISTERED NUMBER: 13487041 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

FRESH WHARF IOW LTD

FRESH WHARF IOW LTD (REGISTERED NUMBER: 13487041)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FRESH WHARF IOW LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr R G Hewett
Mr J J Hewett
Ms H Nash
Ms E Hewett
Ms K M Hewett
Ms F P S Jokic
Mr A M Leahy
Mr S R Hewett


SECRETARY: Mr R G Hewett


REGISTERED OFFICE: 92 Station Lane
Hornchurch
Essex
RM12 6LX


BUSINESS ADDRESS: 60 Cannon Street
London
EC4N 6NP


REGISTERED NUMBER: 13487041 (England and Wales)


ACCOUNTANTS: S.D. Garner + Co Limited
Chartered Certified Accountants
92 Station Lane
Hornchurch
Essex
RM12 6LX


SOLICITORS: Wedlake Bell
71 Queen Victoria Street
London
EC4V 4AY

FRESH WHARF IOW LTD (REGISTERED NUMBER: 13487041)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 5,854,570 5,854,570
5,854,570 5,854,570

CURRENT ASSETS
Debtors 5 25,037 32,356
Prepayments and accrued income 5,193 16,593
Cash at bank 498,349 420,320
528,579 469,269
CREDITORS
Amounts falling due within one year 6 6,324,871 6,308,656
NET CURRENT LIABILITIES (5,796,292 ) (5,839,387 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

58,278

15,183

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings 8 58,277 15,182
SHAREHOLDERS' FUNDS 58,278 15,183

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 August 2024 and were signed on its behalf by:




Ms H Nash - Director


FRESH WHARF IOW LTD (REGISTERED NUMBER: 13487041)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Fresh Wharf Iow 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Preparation of consolidated financial statements
The parent company is Fresh Wharf Holdings Ltd, a company registered in the UK at 92 Station Lane, Hornchurch, Essex, RM12 6LX.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

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.

Financial instruments
The Company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets
Basic financial assets, including trade and other receivables, and cash and bank balances, are initially recognised at transaction price.

Trade receivables are assets due for services that have been acquired in the ordinary course of business from suppliers. Accounts receivables are classified as current assets if receipt is expected within one year or less. If not, they are presented as non-current assets. Trade receivables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

(ii) Financial liabilities
Basic financial liabilities, including trade and other payables, are initially recognised at transaction price.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.


FRESH WHARF IOW LTD (REGISTERED NUMBER: 13487041)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 5,854,570
NET BOOK VALUE
At 31 March 2024 5,854,570
At 31 March 2023 5,854,570

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 25,036 32,355
Amounts owed by group undertakings 1 1
25,037 32,356

FRESH WHARF IOW LTD (REGISTERED NUMBER: 13487041)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 19,412
Amounts owed to group undertakings 6,198,580 6,161,200
Corporation tax 14,262 3,561
VAT 19,327 18,976
Other creditors - (1 )
Rents & other in advance 92,702 105,508
6,324,871 6,308,656

7. CALLED UP SHARE CAPITAL

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

8. RESERVES
Retained
earnings
£   

At 1 April 2023 15,182
Profit for the year 43,095
At 31 March 2024 58,277

9. CONTINGENT LIABILITIES

At the year end, there were no contingent liabilities or guarantees, other than those arising in the normal course of the Company's activities, and on these, no material losses are anticipated.

10. CAPITAL COMMITMENTS

At the year end, the company had not entered into any capital commitments.

11. OTHER FINANCIAL COMMITMENTS

At the year end, the company had no other financial commitments other than those incurred in the normal operation of its business.

12. ULTIMATE CONTROLLING PARTY

The controlling party is Fresh Wharf Holdings Ltd.