Registered number |
Registered number: | |||||||
Balance Sheet | |||||||
as at |
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Notes | 2024 | 2023 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Tangible assets | 3 | ||||||
Investments | 4 | ||||||
Current assets | |||||||
Debtors | 5 | ||||||
Cash at bank and in hand | |||||||
Creditors: amounts falling due within one year | 6 | ( |
( |
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Net current liabilities | ( |
( |
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Total assets less current liabilities | |||||||
Creditors: amounts falling due after more than one year | 7 | ( |
( |
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Net assets | |||||||
Capital and reserves | |||||||
Called up share capital | |||||||
Revaluation reserve | 8 | ||||||
Profit and loss account | |||||||
Shareholders' funds | |||||||
Shamyka Douglas | |||||||
Director | |||||||
Approved by the board on |
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Notes to the Accounts | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
Turnover | ||||||||
Tangible fixed assets | ||||||||
Freehold buildings | 2% p.a.on straight line basis on buildings | |||||||
Investments | ||||||||
Stocks | ||||||||
Debtors | ||||||||
Creditors | ||||||||
Taxation | ||||||||
Provisions | ||||||||
2 | Employees | 2024 | 2023 | |||||
Number | Number | |||||||
Average number of persons employed by the company | ||||||||
3 | Tangible fixed assets | |||||||
Land and buildings | ||||||||
£ | ||||||||
Cost | ||||||||
At 1 February 2023 | ||||||||
Additions | - | |||||||
Surplus on revaluation | - | |||||||
Disposals | - | |||||||
At 31 January 2024 | ||||||||
Depreciation | ||||||||
At 1 February 2023 | ||||||||
Charge for the year | ||||||||
Surplus on revaluation | - | |||||||
On disposals | - | |||||||
At 31 January 2024 | ||||||||
Net book value | ||||||||
At 31 January 2024 | ||||||||
At 31 January 2023 | ||||||||
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 | ||||||||
Amounts owed by group undertakings and undertakings in which the company has a participating interest | ||||||||
Deferred tax asset | ||||||||
Other debtors | ||||||||
6 | Creditors: amounts falling due within one year | 2024 | 2023 | |||||
£ | £ | |||||||
Bank loans and overdrafts | ||||||||
Trade creditors | ||||||||
Amounts owed to group undertakings and undertakings in which the company has a participating interest | ||||||||
Taxation and social security costs | ||||||||
Other creditors | ||||||||
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 | ||||||||
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 | ||||||||
At 31 January 2024 | ||||||||
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% | |||||||
£ | £ | £ | £ | |||||
473,061 | 83,361 | 13,911 | 570,333 | |||||
11 | Related party transactions | |||||||
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. |
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12 | Controlling party | |||||||
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 |