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REGISTERED NUMBER: 08953688 (England and Wales)










Wepre Holdings Ltd

Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Year Ended 31 March 2024






Wepre Holdings Ltd (Registered number: 08953688)






Contents of the Consolidated Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 5

Consolidated Income Statement 8

Consolidated Other Comprehensive Income 10

Consolidated Balance Sheet 11

Company Balance Sheet 12

Consolidated Statement of Changes in Equity 13

Company Statement of Changes in Equity 14

Consolidated Cash Flow Statement 15

Notes to the Consolidated Cash Flow Statement 16

Notes to the Consolidated Financial Statements 17


Wepre Holdings Ltd

Company Information
for the year ended 31 March 2024







DIRECTORS: Mrs S Roberts
Mr I Roberts





SECRETARY: Mrs S Roberts





REGISTERED OFFICE: Wepre House
Lon Parcwr Business Park
Ruthin
LL15 1NJ





REGISTERED NUMBER: 08953688 (England and Wales)





AUDITORS: Salisbury & Company Business Solutions Limited
Statutory Auditors
Chartered Accountants
Irish Square
Upper Denbigh Road
St Asaph
Denbighshire
LL17 0RN

Wepre Holdings Ltd (Registered number: 08953688)

Group Strategic Report
for the year ended 31 March 2024

The directors present their strategic report of the company and the group for the year ended 31 March 2024.

The directors are confident in the financial strength of the group.

The group's closing cash reserves as of 31 March 2024 were £5,146,373.

The group balance sheet is extremely strong and shows a net current asset position of £13,051,894 with a total net asset value of £16,321,978.

On the 21st March 2024, as a result of a formal company reorganisation, Roberts Homes (North Wales) Limited left the group by virtue of a dividend in specie to its shareholders

REVIEW OF BUSINESS
Roberts Estates Limited and Wepre Developments Limited

These two companies own the group's residential investment properties. In line with our strategic plan, we have continued to dispose of the residential portfolio properties. This exercise is now nearing completion, and we would expect that by the end of the financial year 31 March 2025 to have disposed of all our residential investments.

The cash position in both companies is extremely strong. Both companies are debt free.

The board of directors is currently considering different options to utilise the cash reserves of both companies.

Roberts Homes Limited

This company operates the construction division of the group.

The company has continued to contribute profit to the group.

The company continues to search for attractive opportunities, either residential or commercial.

Like much of the construction industry, the company has experienced excessive delays in acquiring planning permissions. All local authorities appear to be experiencing delays predominantly due to the shortage of appropriately qualified planning personnel.

There are positive signs that the new Labour government are prioritising planning laws to help speed up the planning process.

The residential market is still subdued in comparison to previous years but if interest rates start to reduce the directors expect the market to strengthen substantially.

The company is well placed to take advantage of improving market conditions.

Currently the company has approximately 100 building plots in the planning process with a further 40 plots yet to be submitted for planning.

There is no external debt within the company.

Pool Park Limited
The total assets of the company were disposed of at a profit prior to the financial year end. Company is now dormant.


Wepre Holdings Ltd (Registered number: 08953688)

Group Strategic Report
for the year ended 31 March 2024

PRINCIPAL RISKS AND UNCERTAINTIES
Credit risk

The directors are satisfied that the credit risk is adequately managed, and the level of bad debt is consistent with the nature of the business. Debtors are reviewed on a regular basis to ensure potential bad debts are dealt with in a timely and appropriate manner.

Recoverability of debtor balances has been discussed by the directors and it is their opinion that these balances do not represent a financial risk to the company.

Interest rate exposure

Group trading is financed solely by its own cash reserves. The group is not exposed to bank interest rate fluctuations.

Liquidity risk

The directors are confident that the group holds sufficient cash reserves to service the group's working capital requirements.

Market risk

The property market and related economic and financial conditions are important factors which could influence the performance of the group's speculative housing division.
The group's care home business operates in a very strong and growing market.

FUTURE DEVELOPMENTS
The directors continue to focus on operational profitability to ensure the group balance sheet remains strong.

ON BEHALF OF THE BOARD:





Mr I Roberts - Director


13 November 2024

Wepre Holdings Ltd (Registered number: 08953688)

Report of the Directors
for the year ended 31 March 2024

The directors present their report with the financial statements of the company and the group for the year ended 31 March 2024.

DIVIDENDS
An interim dividend of 57 pound per share was paid on 31 March 2024. Total distribution of dividend for the year ended 31 March 2024 will be £120,000.

A dividend in specie of £200,045 paid out following the disposal of Robert Homes (North Wales) Ltd from the group on 21st March 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report.

Mrs S Roberts
Mr I Roberts

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Salisbury & Company Business Solutions Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr I Roberts - Director


13 November 2024

Report of the Independent Auditors to the Members of
Wepre Holdings Ltd

Opinion
We have audited the financial statements of Wepre Holdings Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
_
In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 March 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Report of the Independent Auditors to the Members of
Wepre Holdings Ltd


Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatement in the financial statements may not be detected, even though the audit is properly planned in accordance with ISA (UK).

We obtained an understanding of the legal and regulatory frameworks applicable to the group and the industry in which it operates through our general commercial and sector experience and discussions with management. We determined that the following laws and regulations were most significant: The Companies Act 2006, FRS 102 the 'Financial Reporting Standards applicable in the UK and Republic of Ireland' and relevant UK tax legislation. In addition, we concluded that there are certain laws and regulations that may have an effect on the determination of the amounts and disclosures within the financial statements such as Health and Safety laws and regulations.

We accessed the susceptibility of the group's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:
- Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations or fraud;
- Obtain an understanding of the internal controls that management have in place to prevent and detect fraud;
- Challenging assumptions and judgements made by management in its significant accounting estimates;
- Reviewing the financial statement disclosures and assessing the appropriateness of the accounting policies used;
- Identifying and testing journal entries, in particular manual or unusual entries;
- Obtaining third party confirmations of all the companies banking arrangements;
- Performing analytical procedures to identify any unusual or unexpected relationships;
- Conclude on the appropriateness of the directors' use of the going concern basis of accounting.
The assessment of the appropriateness of the collective competence and capabilities of the engagement team included consideration of the engagements team's knowledge of the industry in which the client operates in and understanding of, and practical experience with, audit engagements of a similar nature and complexity through appropriate training and participation.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment.

Our audit procedures are designed to detect material misstatement. We are not responsible for preventing non-compliance or fraud and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Wepre Holdings Ltd


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Jeremy Salisbury (Senior Statutory Auditor)
for and on behalf of Salisbury & Company Business Solutions Limited
Statutory Auditors
Chartered Accountants
Irish Square
Upper Denbigh Road
St Asaph
Denbighshire
LL17 0RN

13 November 2024

Wepre Holdings Ltd (Registered number: 08953688)

Consolidated
Income Statement
for the year ended 31 March 2024

2024 2024 2024
Continuing Discontinued Total
Notes £    £    £   

TURNOVER 3 2,052,259 7,599,877 9,652,136
Cost of sales (1,775,821 ) (5,901,640 ) (7,677,461 )
GROSS PROFIT 276,438 1,698,237 1,974,675

Administrative expenses (656,497 ) (946,730 ) (1,603,227 )
(380,059 ) 751,507 371,448

Other operating income 92,374 34,249 126,623


OPERATING (LOSS)/PROFIT 5 (287,685 ) 785,756 498,071

Interest receivable and similar income 120,950 - 120,950
Gain/loss on revaluation of assets 105,050 - 105,050
Interest payable and similar expenses 6 (5,969 ) (777 ) (6,746 )
(LOSS)/PROFIT BEFORE TAXATION (67,654 ) 784,979 717,325
Tax on (loss)/profit 7 (87,071 ) (209,820 ) (296,891 )
(LOSS)/PROFIT FOR THE FINANCIAL YEAR (154,725 ) 575,159 420,434
(Loss)/profit attributable to:
Owners of the parent 420,434

Wepre Holdings Ltd (Registered number: 08953688)

Consolidated
Income Statement
for the year ended 31 March 2024

2023 2023 2023
Continuing Discontinued Total
Notes £    £    £   

TURNOVER 3 9,989,013 - 9,989,013
Cost of sales (7,929,643 ) - (7,929,643 )
GROSS PROFIT 2,059,370 - 2,059,370

Administrative expenses (2,266,643 ) - (2,266,643 )
(207,273 ) - (207,273 )

Other operating income 445,774 - 445,774


OPERATING PROFIT 5 238,501 - 238,501

Interest receivable and similar income 24,895 - 24,895
Gain/loss on revaluation of assets (397,700 ) - (397,700 )
Interest payable and similar expenses 6 (109,063 ) - (109,063 )
LOSS BEFORE TAXATION (243,367 ) - (243,367 )
Tax on loss 7 (182,928 ) - (182,928 )
LOSS FOR THE FINANCIAL YEAR (426,295 ) - (426,295 )
Loss attributable to:
Owners of the parent (426,295 )

Wepre Holdings Ltd (Registered number: 08953688)

Consolidated
Other Comprehensive Income
for the year ended 31 March 2024

2024 2023
Notes £    £   

PROFIT/(LOSS) FOR THE YEAR 420,434 (426,295 )


OTHER COMPREHENSIVE INCOME
Disposal of Robert Homes (North Wales) (4,389,366 ) -
Revaluation of investment properties (1,154,015 ) -
Income tax relating to components of other
comprehensive income

-

-
OTHER COMPREHENSIVE INCOME FOR
THE YEAR, NET OF INCOME TAX

(5,543,381

)

-
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

(5,122,947

)

(426,295

)

Total comprehensive income attributable to:
Owners of the parent (5,122,947 ) (426,295 )

Wepre Holdings Ltd (Registered number: 08953688)

Consolidated Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 - 30,290
Tangible assets 11 2,310,541 7,189,889
Investments 12 - -
Investment property 13 1,207,893 3,180,243
3,518,434 10,400,422

CURRENT ASSETS
Stocks 14 6,693,230 8,319,879
Debtors 15 1,747,801 1,800,654
Cash at bank and in hand 5,146,373 2,801,008
13,587,404 12,921,541
CREDITORS
Amounts falling due within one year 16 535,510 1,432,739
NET CURRENT ASSETS 13,051,894 11,488,802
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,570,328

21,889,224

PROVISIONS FOR LIABILITIES 18 248,350 324,299
NET ASSETS 16,321,978 21,564,925

CAPITAL AND RESERVES
Called up share capital 19 2,106 2,106
Share premium 20 15,378,300 15,378,300
Revaluation reserve 20 224,794 946,739
Fair value reserve 20 284,193 716,263
Retained earnings 20 432,585 4,521,517
SHAREHOLDERS' FUNDS 16,321,978 21,564,925

The financial statements were approved by the Board of Directors and authorised for issue on 13 November 2024 and were signed on its behalf by:





Mr I Roberts - Director


Wepre Holdings Ltd (Registered number: 08953688)

Company Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 - -
Investments 12 2,104 2,104
Investment property 13 - -
2,104 2,104

CURRENT ASSETS
Cash at bank and in hand 10,780 219,834

CREDITORS
Amounts falling due within one year 16 97,923 291,977
NET CURRENT LIABILITIES (87,143 ) (72,143 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(85,039

)

(70,039

)

CAPITAL AND RESERVES
Called up share capital 19 2,106 2,106
Retained earnings (87,145 ) (72,145 )
SHAREHOLDERS' FUNDS (85,039 ) (70,039 )

Company's profit for the financial year 305,045 47,855

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 13 November 2024 and were signed on its behalf by:





Mr I Roberts - Director


Wepre Holdings Ltd (Registered number: 08953688)

Consolidated Statement of Changes in Equity
for the year ended 31 March 2024

Called up
share Retained Share
capital earnings premium
£    £    £   
Balance at 1 April 2022 2,106 4,648,454 15,378,300

Changes in equity
Dividends - (120,000 ) -
Total comprehensive income - (6,937 ) -
Balance at 31 March 2023 2,106 4,521,517 15,378,300

Changes in equity
Dividends - (120,000 ) -
Total comprehensive income - (3,968,932 ) -
Balance at 31 March 2024 2,106 432,585 15,378,300
Fair
Revaluation value Total
reserve reserve equity
£    £    £   
Balance at 1 April 2022 1,086,997 995,363 22,111,220

Changes in equity
Dividends - - (120,000 )
Total comprehensive income (140,258 ) (279,100 ) (426,295 )
Balance at 31 March 2023 946,739 716,263 21,564,925

Changes in equity
Dividends - - (120,000 )
Total comprehensive income (721,945 ) (432,070 ) (5,122,947 )
Balance at 31 March 2024 224,794 284,193 16,321,978

Wepre Holdings Ltd (Registered number: 08953688)

Company Statement of Changes in Equity
for the year ended 31 March 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 April 2022 2,106 - 2,106

Changes in equity
Dividends - (120,000 ) (120,000 )
Total comprehensive income - 47,855 47,855
Balance at 31 March 2023 2,106 (72,145 ) (70,039 )

Changes in equity
Dividends - (320,045 ) (320,045 )
Total comprehensive income - 305,045 305,045
Balance at 31 March 2024 2,106 (87,145 ) (85,039 )

Wepre Holdings Ltd (Registered number: 08953688)

Consolidated Cash Flow Statement
for the year ended 31 March 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,142,771 (311,215 )
Interest paid (6,746 ) (107,308 )
Interest element of hire purchase or finance
lease rental payments paid

-

(1,755

)
Tax paid (476,132 ) 1,442
Net cash from operating activities 659,893 (418,836 )

Cash flows from investing activities
Purchase of tangible fixed assets (66,990 ) (55,767 )
Sale of intangible fixed assets 3 -
Sale of tangible fixed assets 1 15,308
Sale of fixed asset investments (7,500 ) (55,258 )
Sale of investment property 2,077,400 1,952,500
Reclassification of land - 335,480
Interest received 120,950 24,895
Net cash from investing activities 2,123,864 2,217,158

Cash flows from financing activities
Loan repayments in year - (2,664,985 )
Amount introduced by directors 395 3,787
Amount withdrawn by directors (318,787 ) (120,281 )
Equity dividends paid (120,000 ) (120,000 )
Net cash from financing activities (438,392 ) (2,901,479 )

Increase/(decrease) in cash and cash equivalents 2,345,365 (1,103,157 )
Cash and cash equivalents at beginning
of year

2

2,801,008

3,904,165

Cash and cash equivalents at end of year 2 5,146,373 2,801,008

Wepre Holdings Ltd (Registered number: 08953688)

Notes to the Consolidated Cash Flow Statement
for the year ended 31 March 2024

1. RECONCILIATION OF PROFIT/(LOSS) BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024 2023
£    £   
Profit/(loss) before taxation 717,325 (243,367 )
Depreciation charges 245,094 267,443
Loss on disposal of fixed assets 7,500 50,682
(Gain)/loss on revaluation of fixed assets (105,050 ) 397,700
Amounts owed by related party (1,700,744 ) -
Finance costs 6,746 109,063
Finance income (120,950 ) (24,895 )
(950,079 ) 556,626
Decrease/(increase) in stocks 1,626,649 (373,363 )
Increase in trade and other debtors (1,077,506 ) (501,236 )
Increase in trade and other creditors 1,543,707 6,758
Cash generated from operations 1,142,771 (311,215 )

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2024
31/3/24 1/4/23
£    £   
Cash and cash equivalents 5,146,373 2,801,008
Year ended 31 March 2023
31/3/23 1/4/22
£    £   
Cash and cash equivalents 2,801,008 3,904,165


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1/4/23 Cash flow At 31/3/24
£    £    £   
Net cash
Cash at bank and in hand 2,801,008 2,345,365 5,146,373
2,801,008 2,345,365 5,146,373
Debt
Debts falling due within 1 year (256,847 ) 256,847 -
(256,847 ) 256,847 -
Total 2,544,161 2,602,212 5,146,373

Wepre Holdings Ltd (Registered number: 08953688)

Notes to the Consolidated Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Wepre Holdings Ltd 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 General Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation investment properties at fair value. The principal accounting policies adopted are set out below.

Going concern
The directors have renewed and approved detailed financial projections including cash flow forecasts for the period to December 2025. At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the period to December 2025.

Basis of consolidation
The consolidated financial statements incorporate those of Wepre Holdings Limited and all of its subsidiaries (i.e. entities that the group controls through its power to govern the financial and operating policies so as to obtain economic benefits). Subsidiaries acquired during the year are consolidated using the purchase method. Their results are incorporated from the date that control passes.

All financial statements are made up to 31 March 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

The cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill.

The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date.
Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date.

Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

Wepre Holdings Ltd (Registered number: 08953688)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Critical accounting judgements and key sources of estimation uncertainty
In the application of the group's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Investment property valuation
The company use third party valuations for the investment property portfolio where available. Where this information is not available the directors review relevant market data to estimate the market value of the properties.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Turnover for the provision of care home services and residential investment property services is recognised on a straight-line basis over the service period. Turnover from other ancillary services is recognised at the point in time that the service is provided to the resident or tenant.

Turnover from provision of construction services is accumulated in WIP and released to the P&L on sale of properties.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 15% to 25% on cost and 20% on cost
Fixtures and fittings - 30% on cost and 20% on reducing balance
Motor vehicles - 25% on cost and 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Wepre Holdings Ltd (Registered number: 08953688)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss

Taxation
The tax expense represents the sum of the current tax expense and deferred tax expense. Current tax assets are recognised when tax paid exceeds the tax payable.

Current and deferred tax is charged or credited to profit or loss, except when it relates to items charged or credited to other comprehensive income or equity, when the tax follows the transaction or event it relates to and is also charged or credited to other comprehensive income, or equity.

Current tax assets and current tax liabilities and deferred tax assets and deferred tax liabilities are offset, if and only if, there is a legally enforceable right to set off the amounts and the entity intends either to settle on the net basis or to realise the asset and settle the liability simultaneously.

Current tax is based on taxable profit for the year. Current tax assets and liabilities are measured using tax rates that have been enacted or substantively enacted by the reporting date.

Deferred tax
Deferred tax is calculated at the tax rates that are expected to apply to the period when the asset is realised or the liability is settled based on tax rates that have been enacted or substantively enacted by the reporting date.

Deferred tax liabilities are recognised in respect of all timing differences that exist at the reporting date. Timing differences are differences between taxable profits and total comprehensive income that arise from the inclusion of income and expenses in tax assessments in different periods from their recognition in the financial statements. Deferred tax assets are recognised only to the extent that it is probable that they will be recovered by the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is recognised on income and expenses from subsidiaries, that will be assessed to or allow for tax in a future period except where the group is able to control the reversal of the timing difference and it is probable that the timing difference will not reverse in the foreseeable future.

Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination and the amounts that can be deducted or assessed for tax. The deferred tax recognised is adjusted against goodwill.

For non-depreciable assets measured using the revaluation model and investment properties measured at fair value (except investment property with a limited useful life held by the group to consume substantially all of its economic benefit), deferred tax is measured using the tax rates and allowances that apply to the sale of the asset or property.

Wepre Holdings Ltd (Registered number: 08953688)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

Pension costs and other post-retirement benefits
For defined contribution schemes the amount charged to profit or loss is the contributions payable in the year. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Investment properties
Fixed asset investments
In the separate accounts of the company, interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Impairment of fixed assets
At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Wepre Holdings Ltd (Registered number: 08953688)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The group has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Other financial assets
Other financial assets, including trade investments, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the group's contractual obligations are discharged, cancelled, or they expire.


Wepre Holdings Ltd (Registered number: 08953688)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Equity instruments
Equity instruments issued by the group are recorded at the fair value of proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

3. TURNOVER

The turnover and profit (2023 - loss) before taxation are attributable to the one principal activity of the group.

An analysis of turnover by class of business is given below:

2024 2023
£    £   
Resident fees 7,599,876 6,519,279
Rental income 82,438 69,411
Construction 1,969,822 3,400,323
9,652,136 9,989,013

An analysis of turnover by geographical market is given below:

2024 2023
£    £   
United Kingdom 9,652,136 9,989,013
9,652,136 9,989,013

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 5,524,754 5,268,827
Social security costs 309,603 274,226
Other pension costs 60,398 351,493
5,894,755 5,894,546

The average number of employees during the year was as follows:
2024 2023

Nursing homes staff 153 171
Administrative staff 16 17
169 188

The average number of employees by undertakings that were proportionately consolidated during the year was NIL (2023 - NIL).

2024 2023
£    £   
Directors' remuneration - -

Wepre Holdings Ltd (Registered number: 08953688)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 March 2024

5. OPERATING PROFIT/(LOSS)

The operating profit (2023 - operating loss) is stated after charging:

2024 2023
£    £   
Hire of plant and machinery 2,083 -
Depreciation - owned assets 231,544 243,891
Loss on disposal of fixed assets 7,500 50,682
Goodwill amortisation 13,550 23,552
The auditing of accounts of any associate of the company 15,000 12,094

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank loan interest 5,969 107,282
Interest on overdue tax 777 26
Hire purchase - 1,755
6,746 109,063

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 276,093 239,852

Deferred tax 20,798 (56,924 )
Tax on profit/(loss) 296,891 182,928

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit/(loss) before tax 717,325 (243,367 )
Profit/(loss) multiplied by the standard rate of corporation tax in the UK of
25 % (2023 - 19 %)

179,331

(46,240

)

Effects of:
Expenses not deductible for tax purposes 98,847 158,425
Income not taxable for tax purposes (31,618 ) (4,070 )
Depreciation in excess of capital allowances 29,533 17,889

Deferred tax 20,798 56,924
Total tax charge 296,891 182,928

Tax effects relating to effects of other comprehensive income

2024
Gross Tax Net
£    £    £   
Disposal of Robert Homes (North Wales) (4,389,366 ) - (4,389,366 )
Revaluation of investment properties (1,154,015 ) - (1,154,015 )
(5,543,381 ) - (5,543,381 )

Wepre Holdings Ltd (Registered number: 08953688)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 March 2024

8. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


9. DIVIDENDS
2024 2023
£    £   
ORDINARY shares of 1 each
Interim 120,000 120,000

10. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 April 2023 436,045
Disposals (436,045 )
At 31 March 2024 -
AMORTISATION
At 1 April 2023 405,755
Amortisation for year 13,550
Eliminated on disposal (419,305 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 30,290

11. TANGIBLE FIXED ASSETS

Group
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2023 8,036,467 270,122 719,572
Additions - - -
Disposals (5,661,996 ) (133,583 ) (718,922 )
At 31 March 2024 2,374,471 136,539 650
DEPRECIATION
At 1 April 2023 1,156,824 224,104 507,324
Charge for year 158,190 11,165 36,575
Eliminated on disposal (1,122,670 ) (133,583 ) (543,249 )
At 31 March 2024 192,344 101,686 650
NET BOOK VALUE
At 31 March 2024 2,182,127 34,853 -
At 31 March 2023 6,879,643 46,018 212,248

Wepre Holdings Ltd (Registered number: 08953688)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 March 2024

11. TANGIBLE FIXED ASSETS - continued

Group

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 201,337 19,605 9,247,103
Additions 66,990 - 66,990
Disposals (39,724 ) - (6,554,225 )
At 31 March 2024 228,603 19,605 2,759,868
DEPRECIATION
At 1 April 2023 149,357 19,605 2,057,214
Charge for year 25,614 - 231,544
Eliminated on disposal (39,929 ) - (1,839,431 )
At 31 March 2024 135,042 19,605 449,327
NET BOOK VALUE
At 31 March 2024 93,561 - 2,310,541
At 31 March 2023 51,980 - 7,189,889

12. FIXED ASSET INVESTMENTS

Group
Shares in
group
undertakings
£   
COST
Disposals (200,045 )
At 31 March 2024 (200,045 )
PROVISIONS

Eliminated on disposal (200,045 )
At 31 March 2024 (200,045 )
NET BOOK VALUE
At 31 March 2024 -
Company
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 2,104
NET BOOK VALUE
At 31 March 2024 2,104
At 31 March 2023 2,104


Wepre Holdings Ltd (Registered number: 08953688)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 March 2024

13. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 April 2023 3,180,243
Disposals (2,077,400 )
Revaluations 105,050
At 31 March 2024 1,207,893
NET BOOK VALUE
At 31 March 2024 1,207,893
At 31 March 2023 3,180,243

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2022 8,008,394
Valuation in 2023 (4,828,151 )
Valuation in 2024 (1,972,350 )
1,207,893

Investment properties were valued on an open market basis on 31st March 2024 by the directors.

14. STOCKS

Group
2024 2023
£    £   
Work-in-progress 6,693,230 8,319,879

15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group
2024 2023
£    £   
Trade debtors 54,947 192,152
Other debtors 1,513,050 1,427,994
Directors' current accounts 98,967 -
Tax - 27,506
VAT - 27,602
Prepayments 80,837 125,400
1,747,801 1,800,654

Wepre Holdings Ltd (Registered number: 08953688)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 March 2024

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans and overdrafts (see note 17) - 256,847 - -
Trade creditors 56,529 274,078 - -
Amounts owed to group undertakings - - 82,923 276,977
Amounts owed to participating interests 295,685 - - -
Tax 70,513 298,058 - -
Social security and other taxes 6,282 53,636 - -
VAT 72,027 - - -
Other creditors 4,174 60,389 - -
Received in advance - 69,242 - -
Directors' current accounts - 219,425 - -
Accruals and deferred income 6,000 18,612 - -
Accrued expenses 24,300 182,452 15,000 15,000
535,510 1,432,739 97,923 291,977

17. LOANS

An analysis of the maturity of loans is given below:

Group
2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans - 256,847

18. PROVISIONS FOR LIABILITIES

Group
2024 2023
£    £   
Deferred tax
Deferred tax 249,460 328,335
Deferred tax asset (1,110 ) (4,036 )
248,350 324,299

Group
Deferred
tax
£   
Balance at 1 April 2023 324,299
Credit to Income Statement during year (75,949 )
Balance at 31 March 2024 248,350

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2,106 ORDINARY 1 2,106 2,106

Wepre Holdings Ltd (Registered number: 08953688)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 March 2024

20. RESERVES

Group
Fair
Retained Share Revaluation value
earnings premium reserve reserve Totals
£    £    £    £    £   

At 1 April 2023 4,521,517 15,378,300 946,739 716,263 21,562,819
Profit for the year 420,434 420,434
Dividends (120,000 ) (120,000 )
Transfer 953,971 - (721,945 ) (432,070 ) (200,044 )
Disposal of RHNW (5,343,337 ) - - - (5,343,337 )
At 31 March 2024 432,585 15,378,300 224,794 284,193 16,319,872

Share premium
Consideration received for shares issued above their nominal value net of transaction costs on the transfer of Roberts Estates partnership assets and liabilities to Roberts Estates Limited.

Profit and loss reserves
Cumulative profit and loss net of distributions to owners.

Other reserves
The cumulative revaluation gains and losses in respect of investment properties.

21. RELATED PARTY DISCLOSURES

Roberts Homes (North Wales) Ltd.
A company controlled by Mr I Roberts & Mrs S Roberts. As at 31st March 2024 the group owed Roberts Homes (North Wales) Ltd £295,685.

Other related parties
The total amount due from family members as of 31st March 2024 is £1,059,175.

22. SUBSIDIARIES

Details of the company's subsidiaries at 31 March 2024 are as follows:


Name of undertaking
Registered
Office

Nature of business
Class of
shares held

% Held Direct
% Held
Indirect
Pool Park Ltd 1 Dormant Ordinary 100.00

Roberts Estates Ltd

1
Property developers &
property investment

Ordinary

100.00


Roberts Homes Ltd

1
Property development
& construction

Ordinary

100.00

Wepre Development
Ltd

1
Property developers &
property investment

Ordinary

100.00


1 All companies operate from the same registered office being Wepre House, Lon Parcwr Business Park, Ruthin, Denbighshire, LL15 1NJ.

On 21st March 2024 the company disposed of the below subsidiary by virtue of a dividend in specie to its shareholders:

Name Registered Number Principal activity
Roberts Homes (North Wales) Limited 03118990 Care homes

23. DISCONTINUED OPERATIONS

Group

The group sold its investment in Robert Homes (North Wales) Ltd, a company that operated three care homes in North Wales, on 21st March 2024. During the year the company contributed post-tax profits of £575,159 (2023: £463,036) to the group. The net assets at date of disposal were £5,543,476, no profit or loss on disposal was recognised in the profit and loss account.