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REGISTERED NUMBER: 00846059 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

WEALDPARK LIMITED

WEALDPARK LIMITED (REGISTERED NUMBER: 00846059)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WEALDPARK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: C J Smith
P J Smith
S J Smith





REGISTERED OFFICE: Sutton Road
St Helens
Merseyside
WA9 3DJ





REGISTERED NUMBER: 00846059 (England and Wales)





ACCOUNTANTS: C A Hunter Limited
Britannia Chambers
26 George Street
St Helens
Merseyside
WA10 1BZ

WEALDPARK LIMITED (REGISTERED NUMBER: 00846059)

BALANCE SHEET
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,149,192 2,996,783

CURRENT ASSETS
Stocks 192,550 211,461
Debtors 5 829,817 777,644
Cash at bank and in hand 63 271,503
1,022,430 1,260,608
CREDITORS
Amounts falling due within one year 6 1,071,452 1,093,298
NET CURRENT (LIABILITIES)/ASSETS (49,022 ) 167,310
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,100,170

3,164,093

CREDITORS
Amounts falling due after more than one
year

7

(694,897

)

(763,522

)

PROVISIONS FOR LIABILITIES 9 (686,606 ) (499,603 )
NET ASSETS 1,718,667 1,900,968

CAPITAL AND RESERVES
Called up share capital 1,665 1,665
Revaluation reserve 10 139,744 139,744
Retained earnings 1,577,258 1,759,559
SHAREHOLDERS' FUNDS 1,718,667 1,900,968

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

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

WEALDPARK LIMITED (REGISTERED NUMBER: 00846059)

BALANCE SHEET - continued
31 JANUARY 2024


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 and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 October 2024 and were signed on its behalf by:




C J Smith - Director P J Smith - Director




S J Smith - Director


WEALDPARK LIMITED (REGISTERED NUMBER: 00846059)

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

1. STATUTORY INFORMATION

Wealdpark 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 4% on cost
Improvements to property - 20% on cost
Plant and machinery - at varying rates on cost
Fixtures and fittings - at variable rates on reducing balance
Motor vehicles - 25% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and 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.

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.

WEALDPARK LIMITED (REGISTERED NUMBER: 00846059)

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

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
Short-term employee benefits are recognised as an expense in the period they are incurred.

The obligations for contributions to defined contribution scheme are recognised as an expense in the period they are incurred. The assets of the scheme are held separately from those of the company in an independent administered fund.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably.

Hire purchase and leasing
Assets that are held by the company under leases which transfer to the company substantially all the risks and rewards of ownership are classified as being held under finance leases. Leases which do not transfer substantially all the risks and rewards of ownership to the company are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the company at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation, Lease payments are apportioned between finance expense and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately in the statement of comprehensive income.

Operating lease payments are recognised as an expense on a straightline basis over the lease term, except where another systematic basis is more representative of the time pattern in which the economic benefits from the leased asset are consumed.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2023 - 28 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2023 476,808 4,298,194 4,775,002
Additions - 562,028 562,028
Disposals - (349,000 ) (349,000 )
At 31 January 2024 476,808 4,511,222 4,988,030
DEPRECIATION
At 1 February 2023 89,019 1,689,200 1,778,219
Charge for year 19,072 283,611 302,683
Eliminated on disposal - (242,064 ) (242,064 )
At 31 January 2024 108,091 1,730,747 1,838,838
NET BOOK VALUE
At 31 January 2024 368,717 2,780,475 3,149,192
At 31 January 2023 387,789 2,608,994 2,996,783

WEALDPARK LIMITED (REGISTERED NUMBER: 00846059)

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

4. TANGIBLE FIXED ASSETS - continued

Land and buildings are reflected in the financial statements at a cost of £476,808,including the factory site at Sutton Road on the deemed cost basis under FRS102, based on a 1994 revaluation value of £170,000.

The historical cost of the Sutton Road factory and and buildings is £30,256 (2023 £30,256).

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 809,913 685,789
Other debtors 19,904 91,855
829,817 777,644

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 116,839 23,019
Hire purchase contracts 360,752 301,963
Trade creditors 461,226 506,801
Taxation and social security 64,756 58,319
Other creditors 67,879 203,196
1,071,452 1,093,298

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans 270,510 292,091
Hire purchase contracts 424,387 471,431
694,897 763,522

8. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Bank loan 267,727 279,479

The bank loan is secured by legal charge against the company's land and buildings, which have a carrying value of £368,717 (2023: £387,789).

9. PROVISIONS FOR LIABILITIES
31.1.24 31.1.23
£    £   
Deferred tax 686,606 499,603

WEALDPARK LIMITED (REGISTERED NUMBER: 00846059)

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

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 February 2023 499,603
Charge to Profit and loss account during year 187,003
Balance at 31 January 2024 686,606

10. RESERVES
Revaluation
reserve
£   
At 1 February 2023
and 31 January 2024 139,744