IRIS Accounts Production v24.2.0.383 00985922 director 1.4.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh009859222023-03-31009859222024-03-31009859222023-04-012024-03-31009859222022-03-31009859222022-04-012023-03-31009859222023-03-3100985922ns15:EnglandWales2023-04-012024-03-3100985922ns14:PoundSterling2023-04-012024-03-3100985922ns10:Director12023-04-012024-03-3100985922ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3100985922ns10:SmallEntities2023-04-012024-03-3100985922ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3100985922ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3100985922ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3100985922ns10:FullAccounts2023-04-012024-03-3100985922ns5:CurrentFinancialInstruments2024-03-3100985922ns5:CurrentFinancialInstruments2023-03-3100985922ns5:ShareCapital2024-03-3100985922ns5:ShareCapital2023-03-3100985922ns5:SharePremium2024-03-3100985922ns5:SharePremium2023-03-3100985922ns5:RetainedEarningsAccumulatedLosses2024-03-3100985922ns5:RetainedEarningsAccumulatedLosses2023-03-3100985922ns10:RegisteredOffice2023-04-012024-03-310098592222023-04-012024-03-310098592212023-04-012024-03-3100985922ns5:CostValuation2023-03-3100985922ns5:UnlistedNon-exchangeTradedns5:CostValuation2023-03-3100985922ns5:RevaluationsIncreaseDecreaseInInvestments2024-03-3100985922ns5:UnlistedNon-exchangeTradedns5:RevaluationsIncreaseDecreaseInInvestments2024-03-3100985922ns5:CostValuation2024-03-3100985922ns5:UnlistedNon-exchangeTradedns5:CostValuation2024-03-3100985922ns5:UnlistedNon-exchangeTraded2024-03-3100985922ns5:UnlistedNon-exchangeTraded2023-03-3100985922ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3100985922ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-31
REGISTERED NUMBER: 00985922 (England and Wales)
























WEDVALE PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






WEDVALE PROPERTIES LIMITED (REGISTERED NUMBER: 00985922)

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










Page

Balance Sheet 1

Notes to the Financial Statements 2


WEDVALE PROPERTIES LIMITED (REGISTERED NUMBER: 00985922)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 4 3,369,767 3,599,031

CURRENT ASSETS
Debtors 5 1,992,262 394,017
Cash at bank 230,011 1,559,004
2,222,273 1,953,021
CREDITORS
Amounts falling due within one year 6 150,696 106,566
NET CURRENT ASSETS 2,071,577 1,846,455
TOTAL ASSETS LESS CURRENT LIABILITIES 5,441,344 5,445,486

PROVISIONS FOR LIABILITIES 195,373 192,044
NET ASSETS 5,245,971 5,253,442

CAPITAL AND RESERVES
Called up share capital 198 198
Share premium 33,201 33,201
Retained earnings 5,212,572 5,220,043
5,245,971 5,253,442

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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 director and authorised for issue on 9 October 2024 and were signed by:



Miss C A Moody - Director


WEDVALE PROPERTIES LIMITED (REGISTERED NUMBER: 00985922)

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


1. STATUTORY INFORMATION

Wedvale Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 00985922

Registered office: The Old Dairy
Radley Green Farm
Radley Green Road
Ingatestone
Essex
CM4 0LU

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.

Rental income
This comprises the value of rent receivable on investment properties in the normal course of business.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

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.

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.

WEDVALE PROPERTIES LIMITED (REGISTERED NUMBER: 00985922)

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


2. ACCOUNTING POLICIES - continued

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.

Joint arrangement
The company has entered into an agreement with other Moody family companies and investors known as the Moody Joint Venture. In practise this is a joint arrangement designed to pool resources for property investments, and as such is an extension of the company's own trade. The Moody Joint Venture does not constitute a separate trading entity and therefore the company has accounted for its own share of the assets, liabilities and cash flows in the joint arrangement on a direct basis.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group Unlisted
undertakings investments Totals
£    £    £   
COST OR VALUATION
At 1 April 2023 600,000 2,999,031 3,599,031
Revaluations - (229,264 ) (229,264 )
At 31 March 2024 600,000 2,769,767 3,369,767
NET BOOK VALUE
At 31 March 2024 600,000 2,769,767 3,369,767
At 31 March 2023 600,000 2,999,031 3,599,031

Historical cost
At 1 April 2023600,0001,988,275
At 31 March 2024600,0001,988,275

The company has a share of the Moody Venture Capital partnership.

The director has a policy of revaluing the investment properties each year, and a full professional valuation was undertaken in June 2024 by Fenn Wright.

WEDVALE PROPERTIES LIMITED (REGISTERED NUMBER: 00985922)

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


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 9,089 19,012
Other debtors 1,983,173 375,005
1,992,262 394,017

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 13,679 576
Corporation tax 91,660 48,989
Social security and other taxes 2,044 -
Other creditors 43,313 57,001
150,696 106,566

7. RELATED PARTY DISCLOSURES

The company has a share of the Moody Venture Capital LLP, an entity in which C. A. Moody is a partner. Investment income receivable from the entity in the year was £128,470 (2023: £59,936).

The company received rental income of £55,246 (2023: £73,192) from Moody Joint Venture, a partnership in which C. A. Moody has an interest.

8. ULTIMATE CONTROLLING PARTY

The directors consider the ultimate controlling party to be the trustees of the D A Moody Jersey B Settlement.