Company Registration No. 08605553 (England and Wales)
Wharfedale Developments Limited
Unaudited accounts
for the year ended 31 March 2024
Wharfedale Developments Limited
Unaudited accounts
Contents
Wharfedale Developments Limited
Statement of financial position
as at 31 March 2024
Intangible assets
251,475
37,508
Tangible assets
47,090
38,392
Cash at bank and in hand
16,880
38,407
Creditors: amounts falling due within one year
(195,821)
(113,248)
Net current liabilities
(115,445)
(8,181)
Total assets less current liabilities
183,120
67,719
Creditors: amounts falling due after more than one year
(159,109)
(33,886)
Provisions for liabilities
Deferred tax
(8,947)
(7,294)
Called up share capital
100
100
Profit and loss account
14,964
26,439
Shareholders' funds
15,064
26,539
For the year ending 31 March 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 6 September 2024 and were signed on its behalf by
Lester Hurst
Director
Company Registration No. 08605553
Wharfedale Developments Limited
Notes to the Accounts
for the year ended 31 March 2024
Wharfedale Developments Limited is a private company, limited by shares, registered in England and Wales, registration number 08605553. The registered office is 56-58 Kirkgate, Otley, West Yorkshire, LS21 3HJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
20% Straight Line
Plant & machinery
25% Reducing Balance
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Intangible fixed assets which represent cryptoassets are initially recognized at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently they are measured at fair value at the reporting date. Changes in fair value are recognised in profit or loss.
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.
Wharfedale Developments Limited
Notes to the Accounts
for the year ended 31 March 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Intangible fixed assets
Goodwill
Other
Total
At 1 April 2023
-
37,508
37,508
Additions
250,000
1,200
251,200
Disposals
-
(36,281)
(36,281)
At 31 March 2024
250,000
1,475
251,475
At 31 March 2024
250,000
1,475
251,475
At 31 March 2023
-
37,508
37,508
Wharfedale Developments Limited
Notes to the Accounts
for the year ended 31 March 2024
5
Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 April 2023
29,110
50,415
79,525
At 31 March 2024
29,110
67,610
96,720
At 1 April 2023
29,110
12,023
41,133
Charge for the year
-
8,497
8,497
At 31 March 2024
29,110
20,520
49,630
At 31 March 2024
-
47,090
47,090
At 31 March 2023
-
38,392
38,392
Amounts falling due within one year
Accrued income and prepayments
9,480
7,819
Other debtors
44,074
49,630
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
6,800
5,000
Trade creditors
18,308
26,143
Taxes and social security
42,649
42,385
Other creditors
128,064
38,520
8
Creditors: amounts falling due after more than one year
2024
2023
9
Average number of employees
During the year the average number of employees was 7 (2023: 7).