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Registered number: 01262114
Corn Exchange Wallingford Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Haines and Company
Chartered Certified Accountants
Rear Of 81 High Street
Wallingford
Oxfordshire
OX10 0BX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 01262114
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 756,308 757,885
756,308 757,885
CURRENT ASSETS
Stocks 5 650 650
Debtors 6 12,673 18,987
Cash at bank and in hand 162,843 109,070
176,166 128,707
Creditors: Amounts Falling Due Within One Year 7 (91,429 ) (83,547 )
NET CURRENT ASSETS (LIABILITIES) 84,737 45,160
TOTAL ASSETS LESS CURRENT LIABILITIES 841,045 803,045
Creditors: Amounts Falling Due After More Than One Year 8 (108,573 ) (131,126 )
NET ASSETS 732,472 671,919
CAPITAL AND RESERVES
Called up share capital 9 712,520 712,520
Other reserves 476,228 470,675
Profit and Loss Account (456,276 ) (511,276 )
SHAREHOLDERS' FUNDS 732,472 671,919
Page 1
Page 2
For the year ending 31 May 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 Stephen Williams
Director
16th September 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
Corn Exchange Wallingford Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 01262114 . The registered office is Corn Exchange Market Place, Wallingford, OX10 0EG.
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. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Nil
Fixtures & Fittings 20% reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
Page 3
Page 4
4. Tangible Assets
Land & Property
Freehold Fixtures & Fittings Total
£ £ £
Cost
As at 1 June 2023 750,000 322,643 1,072,643
As at 31 May 2024 750,000 322,643 1,072,643
Depreciation
As at 1 June 2023 - 314,758 314,758
Provided during the period - 1,577 1,577
As at 31 May 2024 - 316,335 316,335
Net Book Value
As at 31 May 2024 750,000 6,308 756,308
As at 1 June 2023 750,000 7,885 757,885
5. Stocks
2024 2023
£ £
Stock 650 650
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 12,673 17,054
VAT - 1,933
12,673 18,987
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 8,983 7,865
VAT 1,366 -
Other creditors 60,474 62,964
Accruals and deferred income 20,606 12,718
91,429 83,547
Page 4
Page 5
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors 108,573 131,126
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 712,520 712,520
Page 5