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REGISTERED NUMBER: 03115157 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

WEARDALE ESTATES LIMITED

WEARDALE ESTATES LIMITED (REGISTERED NUMBER: 03115157)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WEARDALE ESTATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: A J Stone
Mrs M F Stone





REGISTERED OFFICE: The Estate Office
Ozleworth Park
Wotton-Under-Edge
Gloucs
GL12 7QA





REGISTERED NUMBER: 03115157 (England and Wales)





ACCOUNTANTS: Randall & Payne LLP
Chartered Accountants
Chargrove House
Shurdington Road
Cheltenham
Gloucestershire
GL51 4GA

WEARDALE ESTATES LIMITED (REGISTERED NUMBER: 03115157)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,487,445 3,487,445
Tangible assets 5 8,321,753 6,032,785
Investments 6 84,009 1,740,439
11,893,207 11,260,669

CURRENT ASSETS
Stocks 135,201 110,355
Debtors 7 761,619 2,042,198
Cash at bank and in hand 40,104 67,310
936,924 2,219,863
CREDITORS
Amounts falling due within one year 8 383,168 441,050
NET CURRENT ASSETS 553,756 1,778,813
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,446,963

13,039,482

CREDITORS
Amounts falling due after more than one
year

9

(520,000

)

(520,000

)

PROVISIONS FOR LIABILITIES - (22,709 )
NET ASSETS 11,926,963 12,496,773

CAPITAL AND RESERVES
Called up share capital 666 666
Share premium 5,874,954 5,874,954
Retained earnings 6,051,343 6,621,153
11,926,963 12,496,773

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

WEARDALE ESTATES LIMITED (REGISTERED NUMBER: 03115157)

BALANCE SHEET - continued
31 DECEMBER 2023


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 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 20 September 2024 and were signed on its behalf by:




A J Stone - Director



Mrs M F Stone - Director


WEARDALE ESTATES LIMITED (REGISTERED NUMBER: 03115157)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Weardale 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.

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 as modified by the revaluation of certain assets.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Financial Instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method.

Taxation
Taxation for the year 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 balance sheet date.


WEARDALE ESTATES LIMITED (REGISTERED NUMBER: 03115157)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions
Provisions are recognised only where a present obligation exists as a result of a past transaction or event at or prior to the balance sheet date. In addition, a provision is only recognised where the amounts involved can be reliably estimated. Where material, provisions are calculated on a discounted basis.

Going concern
The directors have considered the risks and issues concerning the company and its activities, and no material uncertainties that may cast significant doubt about the company's ability to continue as a going concern have been identified by the directors.

Fixed asset investments
Fixed Assets Investments are represented at the Market Value at the Balance Sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 3,487,445
NET BOOK VALUE
At 31 December 2023 3,487,445
At 31 December 2022 3,487,445

WEARDALE ESTATES LIMITED (REGISTERED NUMBER: 03115157)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2023 7,171,145 759,995 382,317
Additions 2,265,237 8,954 79,357
Disposals - - -
At 31 December 2023 9,436,382 768,949 461,674
DEPRECIATION
At 1 January 2023 1,473,812 656,785 373,465
Charge for year 111,088 26,644 16,962
At 31 December 2023 1,584,900 683,429 390,427
NET BOOK VALUE
At 31 December 2023 7,851,482 85,520 71,247
At 31 December 2022 5,697,333 103,210 8,852

Motor
vehicles Herd Totals
£    £    £   
COST
At 1 January 2023 344,318 99,864 8,757,639
Additions 134,315 5,945 2,493,808
Disposals - (1,964 ) (1,964 )
At 31 December 2023 478,633 103,845 11,249,483
DEPRECIATION
At 1 January 2023 220,792 - 2,724,854
Charge for year 48,182 - 202,876
At 31 December 2023 268,974 - 2,927,730
NET BOOK VALUE
At 31 December 2023 209,659 103,845 8,321,753
At 31 December 2022 123,526 99,864 6,032,785

WEARDALE ESTATES LIMITED (REGISTERED NUMBER: 03115157)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 January 2023 1,740,439
Disposals (1,514,801 )
Revaluations (142,634 )
Dividends received 1,005
At 31 December 2023 84,009
NET BOOK VALUE
At 31 December 2023 84,009
At 31 December 2022 1,740,439

Cost or valuation at 31 December 2023 is represented by:

Other
investments
£   
Valuation in 2023 84,009

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 14,459 (99,189 )
Amounts owed by group undertakings 633,060 631,860
Directors' current accounts - 1,350,000
VAT 30,370 102,109
Prepayments and accrued income 83,730 57,418
761,619 2,042,198

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 98,302 169,425
Social security and other taxes 9,393 8,125
Directors' current accounts 11,897 -
Accruals and deferred income 263,576 263,500
383,168 441,050

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Accruals and deferred income 520,000 520,000

WEARDALE ESTATES LIMITED (REGISTERED NUMBER: 03115157)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
A J Stone
Balance outstanding at start of year 1,350,000 -
Amounts advanced 1,157,313 1,750,000
Amounts repaid (2,512,695 ) (400,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (5,382 ) 1,350,000

Interest is being charged annually at the HMRC approved rate and there are no set repayment terms.