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Registered number: 11494213
Wessex UK Holdings Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
C&H Stedman
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11494213
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,620,657 1,218,628
Investments 5 10 10
1,620,667 1,218,638
CURRENT ASSETS
Debtors 6 1,020,574 300,432
Cash at bank and in hand 179,895 118,545
1,200,469 418,977
Creditors: Amounts Falling Due Within One Year 7 (83,798 ) (160,886 )
NET CURRENT ASSETS (LIABILITIES) 1,116,671 258,091
TOTAL ASSETS LESS CURRENT LIABILITIES 2,737,338 1,476,729
PROVISIONS FOR LIABILITIES
Deferred Taxation (7,856 ) (9,463 )
NET ASSETS 2,729,482 1,467,266
CAPITAL AND RESERVES
Called up share capital 8 12 12
Profit and Loss Account 2,729,470 1,467,254
SHAREHOLDERS' FUNDS 2,729,482 1,467,266
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr S Tennent
Director
19 September 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Wessex UK Holdings Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11494213 . The registered office is Danesborough, 12 Spaxton Road, Bridgwater, Somerset, TA5 2AU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold n/a
Plant & Machinery 20% on cost
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 20% on cost
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
The average number of employees during the year was 4 (2022: 3)
4 3
Page 3
Page 4
4. Tangible Assets
Investment Properties Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 January 2023 1,088,890 39,189 120,828 11,114 1,260,021
Additions 436,701 - - 412 437,113
Disposals - (3,950 ) - - (3,950 )
As at 31 December 2023 1,525,591 35,239 120,828 11,526 1,693,184
Depreciation
As at 1 January 2023 - 8,109 32,205 1,079 41,393
Provided during the period - 7,575 22,157 2,258 31,990
Disposals - (856 ) - - (856 )
As at 31 December 2023 - 14,828 54,362 3,337 72,527
Net Book Value
As at 31 December 2023 1,525,591 20,411 66,466 8,189 1,620,657
As at 1 January 2023 1,088,890 31,080 88,623 10,035 1,218,628
5. Investments
Unlisted
£
Cost
As at 1 January 2023 10
As at 31 December 2023 10
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 10
As at 1 January 2023 10
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 41,400 432
Other debtors 879,174 300,000
920,574 300,432
Due after more than one year
Other debtors 100,000 -
1,020,574 300,432
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 5,752 11,711
Other creditors 41,671 83,076
Taxation and social security 36,375 66,099
83,798 160,886
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 12 12
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Mr Simon Tennent - 279,174 - - 279,174
The above loan is unsecured, interest free and repayable on demand, the balance was repaid in full on 18th September 2024
Page 5