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REGISTERED NUMBER: 08567041 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

FOR

WALLOP GROUP INVESTMENTS LIMITED

WALLOP GROUP INVESTMENTS LIMITED (REGISTERED NUMBER: 08567041)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WALLOP GROUP INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: Lord O H R Lymington
Lady F Lymington
M W A Doran





REGISTERED OFFICE: Estate Office
Farleigh Wallop
Basingstoke
Hampshire
RG25 2HT





REGISTERED NUMBER: 08567041 (England and Wales)





ACCOUNTANTS: Martin and Company
25 St Thomas Street
Winchester
Hampshire
SO23 9HJ

WALLOP GROUP INVESTMENTS LIMITED (REGISTERED NUMBER: 08567041)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 24,221
Investments 5 53,633,610 49,026,485
Investment property 6 2,200,000 2,200,000
55,833,610 51,250,706

CURRENT ASSETS
Debtors 7 9,765,022 4,297,174
Investments 8 1,150,176 473,800
Cash at bank 36,704 29,006
10,951,902 4,799,980
CREDITORS
Amounts falling due within one year 9 5,577,355 16,253,310
NET CURRENT ASSETS/(LIABILITIES) 5,374,547 (11,453,330 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

61,208,157

39,797,376

CREDITORS
Amounts falling due after more than one
year

10

(57,594,746

)

(35,251,823

)

PROVISIONS FOR LIABILITIES (131,321 ) (131,327 )
NET ASSETS 3,482,090 4,414,226

CAPITAL AND RESERVES
Called up share capital 12 300 100
Fair value reserve 13 323,778 (567,534 )
Retained earnings 13 3,158,012 4,981,660
SHAREHOLDERS' FUNDS 3,482,090 4,414,226

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

WALLOP GROUP INVESTMENTS LIMITED (REGISTERED NUMBER: 08567041)

BALANCE SHEET - continued
31ST MARCH 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31st December 2024 and were signed on its behalf by:





M W A Doran - Director


WALLOP GROUP INVESTMENTS LIMITED (REGISTERED NUMBER: 08567041)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024


1. STATUTORY INFORMATION

Wallop Group Investments Limited 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 Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 12.50% straight line

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

WALLOP GROUP INVESTMENTS LIMITED (REGISTERED NUMBER: 08567041)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


2. ACCOUNTING POLICIES - continued

Fixed asset investments
Listed investments are included at fair value and gains are recognised in the income statement. Unlisted investments are included at cost less impairment where it is not possible to measure fair value reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2023 49,450
Disposals (49,450 )
At 31st March 2024 -
DEPRECIATION
At 1st April 2023 25,229
Charge for year 1,810
Eliminated on disposal (27,039 )
At 31st March 2024 -
NET BOOK VALUE
At 31st March 2024 -
At 31st March 2023 24,221

5. FIXED ASSET INVESTMENTS

2024 2023
£    £   
Shares in group undertakings 401 1
Loans to group undertakings - 12,612,147
Other investments not loans 53,633,209 36,414,337
53,633,610 49,026,485

WALLOP GROUP INVESTMENTS LIMITED (REGISTERED NUMBER: 08567041)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


5. FIXED ASSET INVESTMENTS - continued

Additional information is as follows:
Shares in
group Other
undertakings investments Totals
£    £    £   
COST OR VALUATION
At 1st April 2023 1 36,414,337 36,414,338
Additions 484 23,788,487 23,788,971
Disposals (84 ) (7,913,655 ) (7,913,739 )
Share of profit/(loss) - (130,385 ) (130,385 )
Revaluations - 1,000,630 1,000,630
Reclassification/transfer - 473,795 473,795
At 31st March 2024 401 53,633,209 53,633,610
NET BOOK VALUE
At 31st March 2024 401 53,633,209 53,633,610
At 31st March 2023 1 36,414,337 36,414,338

Cost or valuation at 31st March 2024 is represented by:

Shares in
group Other
undertakings investments Totals
£    £    £   
Valuation in 2021 - 2,015,770 2,015,770
Valuation in 2022 - (2,151,066 ) (2,151,066 )
Valuation in 2023 - (826,218 ) (826,218 )
Valuation in 2024 - 1,000,630 1,000,630
Cost 401 53,594,093 53,594,494
401 53,633,209 53,633,610
Loans to
group
undertakings
£   
At 1st April 2023 12,612,147
New in year 1,948,040
Repayment in year (14,560,187 )
At 31st March 2024 -

WALLOP GROUP INVESTMENTS LIMITED (REGISTERED NUMBER: 08567041)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2023
and 31st March 2024 2,200,000
NET BOOK VALUE
At 31st March 2024 2,200,000
At 31st March 2023 2,200,000

The investment property was revalued in 2022 by an external valuer. The directors do not consider the fair value to have significantly changed since that date.

Fair value at 31st March 2024 is represented by:
£   
Valuation in 2022 525,307
Cost 1,674,693
2,200,000

7. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 112,348 27,669
Amounts owed by group undertakings - 87,813
Other debtors 50,735 42,395
163,083 157,877

Amounts falling due after more than one year:
Amounts owed by group undertakings 9,601,939 135,297
Amounts owed by participating interests - 4,004,000
9,601,939 4,139,297

Aggregate amounts 9,765,022 4,297,174

8. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Unlisted investments 150,176 473,800
Other 1,000,000 -
1,150,176 473,800

WALLOP GROUP INVESTMENTS LIMITED (REGISTERED NUMBER: 08567041)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 21,036 17,983
Amounts owed to group undertakings 369,191 -
Amounts owed to participating interests - 6,207,856
Taxation and social security 8,381 418,587
Other creditors 5,178,747 9,608,884
5,577,355 16,253,310

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 9,000,000 9,000,000
Other creditors 48,594,746 26,251,823
57,594,746 35,251,823

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 5,250,000 5,250,000

As at 31 March 2024, the Company owed the director £48,594,746 (2023: £26,251,823). The loan is unsecured and interest free. The director has confirmed that he will not demand repayment until 1 April 2025 at the earliest and only thereafter if to do so would not prejudice the interest of other creditors or the company's ability to continue trading as a going concern.

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 9,000,000 9,000,000
Other loans 5,058,209 9,250,000
14,058,209 18,250,000

The bank loan is secured by way of guarantees and charges over various properties owned by Lord Lymington and Wallop Estates (Fulham) Limited and the investment property owned by Wallop Group Investments Limited.

The other loan is secured by way of a fixed charge over the company's investments.

WALLOP GROUP INVESTMENTS LIMITED (REGISTERED NUMBER: 08567041)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
300 Ordinary £1 300 100

200 Ordinary shares of £1 each were issued at par during the year in a share for share exchange.

13. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1st April 2023 4,981,660 (567,534 ) 4,414,126
Deficit for the year (932,336 ) (932,336 )
Transfer (1,000,630 ) 1,000,630 -
Realisation of gains 109,318 (109,318 ) -
At 31st March 2024 3,158,012 323,778 3,481,790