Walters Land (Rogerstone) Limited 07950199 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is remediation and land development. Digita Accounts Production Advanced 6.30.9574.0 true false true 07950199 2023-03-01 2024-02-29 07950199 2024-02-29 07950199 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2024-02-29 07950199 bus:OrdinaryShareClass2 bus:Non-cumulativeNon-redeemableShares 2024-02-29 07950199 bus:OrdinaryShareClass3 bus:Non-cumulativeNon-redeemableShares 2024-02-29 07950199 core:CurrentFinancialInstruments 2024-02-29 07950199 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 07950199 core:Non-currentFinancialInstruments 2024-02-29 07950199 core:Non-currentFinancialInstruments core:AfterOneYear 2024-02-29 07950199 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2024-02-29 07950199 core:ParentEntities 2024-02-29 07950199 bus:SmallEntities 2023-03-01 2024-02-29 07950199 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 07950199 bus:FilletedAccounts 2023-03-01 2024-02-29 07950199 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 07950199 bus:RegisteredOffice 2023-03-01 2024-02-29 07950199 bus:CompanySecretaryDirector1 2023-03-01 2024-02-29 07950199 bus:Director2 2023-03-01 2024-02-29 07950199 bus:Director3 2023-03-01 2024-02-29 07950199 bus:Director4 2023-03-01 2024-02-29 07950199 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2023-03-01 2024-02-29 07950199 bus:OrdinaryShareClass2 bus:Non-cumulativeNon-redeemableShares 2023-03-01 2024-02-29 07950199 bus:OrdinaryShareClass3 bus:Non-cumulativeNon-redeemableShares 2023-03-01 2024-02-29 07950199 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 07950199 core:ConstructionInProgressAssetsUnderConstruction 2023-03-01 2024-02-29 07950199 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-03-01 2024-02-29 07950199 core:ParentEntities 2023-03-01 2024-02-29 07950199 1 2023-03-01 2024-02-29 07950199 countries:EnglandWales 2023-03-01 2024-02-29 07950199 2023-02-28 07950199 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-02-28 07950199 core:ParentEntities 2023-02-28 07950199 2022-03-01 2023-02-28 07950199 2023-02-28 07950199 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2023-02-28 07950199 bus:OrdinaryShareClass2 bus:Non-cumulativeNon-redeemableShares 2023-02-28 07950199 bus:OrdinaryShareClass3 bus:Non-cumulativeNon-redeemableShares 2023-02-28 07950199 core:CurrentFinancialInstruments 2023-02-28 07950199 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 07950199 core:Non-currentFinancialInstruments 2023-02-28 07950199 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 07950199 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-02-28 07950199 core:ParentEntities 2023-02-28 07950199 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2022-03-01 2023-02-28 07950199 core:ParentEntities 2022-03-01 2023-02-28 07950199 2022-02-28 07950199 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2022-02-28 07950199 core:ParentEntities 2022-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07950199

Walters Land (Rogerstone) Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Walters Land (Rogerstone) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Walters Land (Rogerstone) Limited

Company Information

Directors

Mr M E R Llewellyn

Mrs S C Llewellyn

Mrs A Zarifian

Mr V Zarifian

Company secretary

Mr M E R Llewellyn

Registered office

Hirwaun House 13th Avenue
Hirwaun Industrial Estate
Aberdare
Rhondda Cynon Taf
CF44 9UL

 

Walters Land (Rogerstone) Limited

(Registration number: 07950199)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

1,571,428

1,571,428

Current assets

 

Debtors

5

2,226

16,130

Cash at bank and in hand

 

3,482,060

3,870,237

 

3,484,286

3,886,367

Creditors: Amounts falling due within one year

6

(181,172)

(782,970)

Net current assets

 

3,303,114

3,103,397

Total assets less current liabilities

 

4,874,542

4,674,825

Creditors: Amounts falling due after more than one year

6

(747,006)

(701,299)

Net assets

 

4,127,536

3,973,526

Capital and reserves

 

Called up share capital

7

45

45

Capital redemption reserve

55

55

Retained earnings

4,127,436

3,973,426

Shareholders' funds

 

4,127,536

3,973,526

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 25 October 2024 and signed on its behalf by:
 

.........................................
Mr M E R Llewellyn
Company secretary and director

 

Walters Land (Rogerstone) Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Hirwaun House 13th Avenue
Hirwaun Industrial Estate
Aberdare
Rhondda Cynon Taf
CF44 9UL

These financial statements were authorised for issue by the Board on 25 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency of the financial Statements is the Pound Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The significant risks and rewards of ownership have been transferred to the buyer;
The company retains no control over the goods;
The amount of revenue can be reliably measured; and
It is probable that future economic benefits will flow to the entity.

Income from the sale of land and property which is subject to a contract of sale, is recognised on completion of that contract.

 

Walters Land (Rogerstone) Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Properties under construction

Not depreciated

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by directors or external valuers. The valuation uses observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

 

Walters Land (Rogerstone) Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Investment properties

2024
£

At 1 March

1,571,428

At 29 February

1,571,428

The directors have valued the property at market value at the year end, having regard to professional valuations of other similar property.

There has been no valuation of investment property by an independent valuer.

5

Debtors

Current

2024
£

2023
£

Trade debtors

-

10,770

Other debtors

2,226

5,360

 

2,226

16,130

 

Walters Land (Rogerstone) Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

1,916

25,149

Taxation and social security

49,955

619,424

Accruals and deferred income

120,551

121,500

Other creditors

8,750

16,897

181,172

782,970

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

11

747,006

701,299

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A shares of £1 each

10

10

10

10

Ordinary B shares of £1 each

10

10

10

10

Ordinary C shares of £1 each

25

25

25

25

45

45

45

45

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £1,891,201 (2023 - £1,891,201). The company has a joint and several cross counter indemnity facility in respect of contract bonds. This indemnity was in relation to G Walters (Holdings) Limited and its subsidiaries: Walters UK Limited, G Walters (Leasing) Limited, Walters Resources Limited, Walters Plant Hire Limited, Walters Environmental Limited, Walters Land Limited and Headaway (Europe) Limited. The indemnity was also in relation to companies outside the group: Walters Land (Rogerstone) Limited, G Walters (Consultancy) Limited and Ffos Las Limited.

 

Walters Land (Rogerstone) Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

9

Related party transactions

Loans from related parties

2024

Parent
£

Entities with joint control or significant influence
£

Total
£

At start of period

350,649

350,649

701,298

Interest transactions

22,854

22,854

45,708

At end of period

373,503

373,503

747,006

2023

Parent
£

Entities with joint control or significant influence
£

Total
£

At start of period

337,415

337,415

674,830

Interest transactions

13,234

13,234

26,468

At end of period

350,649

350,649

701,298

Terms of loans from related parties

The loans are unsecured, repayable after more than one year and accrue interest at 2% above Barclays Bank base rate.
 

10

Parent and ultimate parent undertaking

Ellbeck Limited and Land Matters Limited are the controlling parties of the company.

 The company's immediate parent is Ellbeck Limited, incorporated in England and Wales.

 

11

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

747,006

701,299