Acorah Software Products - Accounts Production 16.0.110 false true true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 09846368 Mrs Louise Miller Mr Michael Miller iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09846368 2023-02-28 09846368 2024-02-29 09846368 2023-03-01 2024-02-29 09846368 frs-core:CurrentFinancialInstruments 2024-02-29 09846368 frs-core:Non-currentFinancialInstruments 2024-02-29 09846368 frs-core:LandBuildings 2024-02-29 09846368 frs-core:LandBuildings 2023-02-28 09846368 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 09846368 frs-core:PlantMachinery 2024-02-29 09846368 frs-core:PlantMachinery 2023-03-01 2024-02-29 09846368 frs-core:PlantMachinery 2023-02-28 09846368 frs-core:ShareCapital 2024-02-29 09846368 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 09846368 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 09846368 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 09846368 frs-bus:SmallEntities 2023-03-01 2024-02-29 09846368 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 09846368 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 09846368 frs-bus:Director1 2023-03-01 2024-02-29 09846368 frs-bus:Director2 2023-03-01 2024-02-29 09846368 frs-countries:EnglandWales 2023-03-01 2024-02-29 09846368 2022-02-28 09846368 2023-02-28 09846368 2022-03-01 2023-02-28 09846368 frs-core:CurrentFinancialInstruments 2023-02-28 09846368 frs-core:Non-currentFinancialInstruments 2023-02-28 09846368 frs-core:ShareCapital 2023-02-28 09846368 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 09846368
Wharfe Valley Place Ltd
Unaudited Financial Statements
For The Year Ended 29 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09846368
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 5,778,672 5,778,672
5,778,672 5,778,672
CURRENT ASSETS
Debtors 5 180,000 120,000
Cash at bank and in hand 8,791 9,709
188,791 129,709
Creditors: Amounts Falling Due Within One Year 6 (125,194 ) (128,506 )
NET CURRENT ASSETS (LIABILITIES) 63,597 1,203
TOTAL ASSETS LESS CURRENT LIABILITIES 5,842,269 5,779,875
Creditors: Amounts Falling Due After More Than One Year 7 (6,025,605 ) (6,025,605 )
NET LIABILITIES (183,336 ) (245,730 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (183,436 ) (245,830 )
SHAREHOLDERS' FUNDS (183,336) (245,730)
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For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Michael Miller
Director
22nd November 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Wharfe Valley Place Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09846368 . The registered office is Wharfe Valley Place Ltd Coutances Way, Burley In Wharfedale, Ilkley, LS29 7HQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland (“FRS102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies’ regime. The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared in £ Sterling which is the functional currency of the company. 
2.2. Going Concern Disclosure
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 foreseeable future. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
2.3. Turnover
Turnover is measured at the fair value of consideration received or receivable, net of discounts and value added taxes. Turnover is comprised of rents receivable under lease arrangements on certain areas of land held by the company and is accounted for on an accruals basis.
2.4. Tangible Fixed Assets and Depreciation
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 of each asset on a reducing balance basis over its expected useful life, as follows:
Freehold Nil
Plant & Machinery 20% Reducing Balance
2.5. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102, in full, to its financial instruments. 
(i) Financial assets 
Basic financial assets, including debtors and cash and bank balances, are initially recognised at the transaction price. Such assets are subsequently carried at amortised cost using the effective interest method. 
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. 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 the profit or loss account.
...CONTINUED
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2.5. Financial Instruments - continued
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 the carrying amount that would have been recognised had the impairment not previously been recognised. The impairment reversal is recognised in the profit or loss account. 
Financial assets are derecognised when either the contractual rights to the cash flows from the asset expire or are settled, or substantially all the risks and rewards of the ownership of the asset are transferred to another party or, despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
(ii) Financial liabilities 
Basic financial liabilities, including trade and other payables, are initially recognised at the transaction price. Such liabilities are subsequently carried at amortised cost using the effective interest rate method. 
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers and are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
2.6. Taxation
Current taxation payable is based on the taxable profit for the period using tax rates in effect during the period. Taxable profit may differ from the profit as reported in the profit and loss account as it is adjusted both for items that will never be taxable or deductible and timing differences.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Land & Buildings Plant & Machinery etc. Total
£ £ £
Cost
As at 1 March 2023 5,778,672 3,372 5,782,044
As at 29 February 2024 5,778,672 3,372 5,782,044
Depreciation
As at 1 March 2023 - 3,372 3,372
As at 29 February 2024 - 3,372 3,372
Net Book Value
As at 29 February 2024 5,778,672 - 5,778,672
As at 1 March 2023 5,778,672 - 5,778,672
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5. Debtors
2024 2023
£ £
Due within one year
Other debtors 180,000 120,000
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,515 1,715
Amounts owed to group undertakings 94,939 96,403
Other creditors 20,926 24,425
Taxation and social security 5,814 5,963
125,194 128,506
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Directors loan account 6,025,605 6,025,605
Amounts owed to the Directors represent loans made to the company to support working capital and capital expenditure requirements. Although there is no formal loan agreement in place, the Directors have indicated that repayment of the loans will not be demanded within the next 12 months.
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Related Party Transactions
As at 29th February 2024, the directors Louise and Michael Miller were owed a total of £6,025,605  (2023 - £6,025,605) from the company.
In addition to the Directors’ loans referred to above, Moss and Moor Limited, an associated company owned indirectly by the Directors, operates from premises owned by Wharfe Valley Place Limited. The premises are occupied under an informal lease arrangement and provision has been made in these financial statements for rents receivable totalling £60,000. Steps are being taken to formalise a lease arrangement between the two companies.
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