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 11198295 Mr George Dibb Mr Geoffrey Dibb Mr Harry Dibb Mrs Angela Dibb iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11198295 2023-02-28 11198295 2024-02-29 11198295 2023-03-01 2024-02-29 11198295 frs-core:CurrentFinancialInstruments 2024-02-29 11198295 frs-core:Non-currentFinancialInstruments 2024-02-29 11198295 frs-core:ShareCapital 2024-02-29 11198295 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 11198295 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 11198295 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 11198295 frs-bus:SmallEntities 2023-03-01 2024-02-29 11198295 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 11198295 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 11198295 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-02-28 11198295 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2024-02-29 11198295 frs-bus:Director1 2023-03-01 2024-02-29 11198295 frs-bus:Director2 2023-03-01 2024-02-29 11198295 frs-bus:Director3 2023-03-01 2024-02-29 11198295 frs-bus:Director4 2023-03-01 2024-02-29 11198295 frs-countries:EnglandWales 2023-03-01 2024-02-29 11198295 2022-02-28 11198295 2023-02-28 11198295 2022-03-01 2023-02-28 11198295 frs-core:CurrentFinancialInstruments 2023-02-28 11198295 frs-core:Non-currentFinancialInstruments 2023-02-28 11198295 frs-core:ShareCapital 2023-02-28 11198295 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 11198295 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-02-28
Registered number: 11198295
Wetherdair Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Unaudited Financial Statements
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 11198295
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 440,000 413,000
440,000 413,000
CURRENT ASSETS
Debtors 5 3,501 1,790
Cash at bank and in hand 51,481 52,012
54,982 53,802
Creditors: Amounts Falling Due Within One Year 6 (5,443 ) (3,447 )
NET CURRENT ASSETS (LIABILITIES) 49,539 50,355
TOTAL ASSETS LESS CURRENT LIABILITIES 489,539 463,355
Creditors: Amounts Falling Due After More Than One Year 7 (453,993 ) (433,923 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (7,666 ) (6,504 )
NET ASSETS 27,880 22,928
CAPITAL AND RESERVES
Called up share capital 9 200 200
Fair value reserve 10 67,004 45,134
Income Statement (39,324 ) (22,406 )
SHAREHOLDERS' FUNDS 27,880 22,928
Page 1
Page 2
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 Income Statement.
On behalf of the board
Mr George Dibb
Director
25 November 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Wetherdair Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11198295 . The registered office is The Octagon, Wells Road, Ilkley, West Yorkshire, LS29 9JB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
When preparing the financial statements, the directors have made an assessment of the company's ability to continue as a going concern. The company is considered a going concern as the directors have no intention to liquidate the company or to cease trading. In assessing whether the going concern assumption is appropriate, the directors have taken into account all available information about the future, which is at least, but is not limited to, twelve months from the date when the financial statements are authorised for issue.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes rent and service charges earned from residential lettings. Turnover is reduced for voids, rebates and other similar allowances. Turnover is recognised from the date the property is first let.
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the income statement.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
Page 3
Page 4
4. Investment Property
2024
£
Fair Value
As at 1 March 2023 413,000
Revaluations 27,000
As at 29 February 2024 440,000
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 725 -
Other debtors 2,776 1,790
3,501 1,790
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 127 117
Other creditors 5,316 3,330
5,443 3,447
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors 453,993 433,923
453,993 433,923
8. Secured Creditors
Of the amounts falling due within and after more than one year the following mortgage amounts are secured by fixed charges over the assets of the company.
2024 2023
£ £
Other Creditors 280,013 262,566
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 200
Page 4
Page 5
10. Reserves
Fair Value Reserve
£
As at 1 March 2023 45,134
Movements in fair value reserve 21,870
As at 29 February 2024 67,004
Page 5