Registered number
10312714
Wetherby House Estates Limited
Filleted Accounts
31 January 2024
Wetherby House Estates Limited
Registered number: 10312714
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 3,947,694 3,992,144
Investments 4 300 300
3,947,994 3,992,444
Current assets
Debtors 5 849,427 884,240
Cash at bank and in hand 44 139
849,471 884,379
Creditors: amounts falling due within one year 6 (1,029,249) (1,055,796)
Net current liabilities (179,778) (171,417)
Total assets less current liabilities 3,768,216 3,821,027
Creditors: amounts falling due after more than one year 7 (2,955,911) (3,065,570)
Net assets 812,305 755,457
Capital and reserves
Called up share capital 100 100
Revaluation reserve 8 683,161 683,161
Profit and loss account 129,044 72,196
Shareholders' funds 812,305 755,457
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Shamyka Douglas
Director
Approved by the board on 31 October 2024
Wetherby House Estates Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings 2% p.a.on straight line basis on buildings
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 February 2023 4,179,497
Additions -
Surplus on revaluation -
Disposals -
At 31 January 2024 4,179,497
Depreciation
At 1 February 2023 187,353
Charge for the year 44,450
Surplus on revaluation -
On disposals -
At 31 January 2024 231,803
Net book value
At 31 January 2024 3,947,694
At 31 January 2023 3,992,144
The company has pledged its land and building in favour of Lloyds Bank PLC in connection with the loans provided.
The valuation of property was made in October 2018 by David Coffer Lyons on an open-market basis. The directors are not aware of any material change in value since the date of the valuation.
Historical cost of the property is £3,496,336 (2023 - £3,496,336)
4 Fixed Asset Investments 2024 2023
£ £
Shares in group undertakings and participating interests 300 300
Fixed Asset Investments not carried at market value
Equity investments in the subsidiary are not publicly traded and their fair value cannot be measured reliably. They are thus recognised at costs less impairment
Subsidiaries
Details of the company's subsidiaries at 31 January 2023 are as follows:
Name of Undertaking held Registered Nature of Class of % Held
Office Business Share
Wetherby House Montessori Kensal England Operating a Ordinary 100
Rise Limited day nursery
Wetherby House Montessori England Operating a Ordinary 100
Harrow Limited day nursery
Wetherby House Montessori England Operating a Ordinary 100
Limited day nursery
The aggregate capital and reserves and the results for the year of the subsidiaries noted above was as follows:
Name of Undertaking held Capital and Reserves Profit / (Loss)
£ £
Wetherby House Montessori Kensal 3,725 95,128
Rise Limited
Wetherby House Montessori 1,836 95,792
Harrow Limited
Wetherby House Montessori 2,590 60,257
Limited
The investment in subsidiaries are all stated at cost less any impairment at the balance sheet date
5 Debtors 2024 2023
£ £
Corporation Tax Recoverable 124,310 122,498
Amounts owed by group undertakings and undertakings in which the company has a participating interest 151,212 286,560
Deferred tax asset 2,121 2,121
Other debtors 571,784 473,061
849,427 884,240
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 106,812 105,648
Trade creditors 47,156 51,156
Amounts owed to group undertakings and undertakings in which the company has a participating interest 634,629 590,811
Taxation and social security costs 110,757 104,641
Other creditors 129,895 203,540
1,029,249 1,055,796
The above bank loans and overdrafts are secured by fixed and floating charges over the assets of the company and personal guarantee from the directors and shareholders
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 2,955,911 3,065,570
Above bank loans are secured by fixed and floating charges over the assets of the company and personal guarantee from the directors and shareholders
8 Revaluation reserve 2024 2023
£ £
At 1 February 2023 683,161 683,161
At 31 January 2024 683,161 683,161
9 Directors' Transactions
Dividends totalling £60,000 (2023 - £60,000) were paid in the year in respect of shares held by the company directors
10 Loans to directors
Description and conditions B/fwd Amounts Interest C/fwd
Advanced @2.5%
£ £ £ £
Directors Current Account 473,061 83,361 13,911 570,333
473,061 83,361 13,911 570,333
11 Related party transactions
During the year the company received rent amounting to £84,000 (2023 - £84,000) and dividends amounting to £60,000 (2023 - £175,000) from subsidiary company Wetherby House Montessori Limited.

During the year the company received rent amounting to £45,000 (2023 - £45,000) and dividends amounting to £100,000 (2022 -£120,000) from subsidiary company Wetherby House Montessori Harrow Limited.

During the year the company received dividends amounting to £95,000 (2023 - £70,000) from subsidiary company Wetherby House Montessori Kensal Rise Limited.

At the balance sheet date , the amount outstanding were as follows :

Included in Debtors.

Wetherby House Montessori Harrow Limited £88,482 (2023 - £129,545)
Wetherby House Montessor Limited £62,730 (2023 - £157,015)
Wetherby House Montessori Kensal Rise Limited £0 (2023 - £0)

Included in Creditors.

Wetherby House Montessori Kensal Rise Limited £634,629 (2023 - £590,811)
Wetherby House Montessor Limited £0 (2023 - £0)

The directors of the company are also directors of the parent company and other fellow subsidiary companies.
12 Controlling party
The ultimate controlling party is Mrs S Douglas and K Douglas by virtue of their shareholding and directorship
13 Other information
Wetherby House Estates Limited is a private company limited by shares and incorporated in England. Its registered office is:
43 Butler Avenue
Harrow
London
HA1 4EJ
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