Company No:
Contents
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 4 |
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Investments | 5 |
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2,184,445 | 2,010,788 | |||
Current assets | ||||
Stocks | 6 |
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Debtors | 7 |
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Cash at bank and in hand |
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1,068,798 | 1,008,219 | |||
Creditors: amounts falling due within one year | 8 | (
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Net current assets | 614,596 | 525,185 | ||
Total assets less current liabilities | 2,799,041 | 2,535,973 | ||
Creditors: amounts falling due after more than one year | 9 | (
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Provision for liabilities | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Walronds Park Limited (registered number:
A W Hallett
Director |
M C W Hallett
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Walronds Park Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Mountfields, Shepton Beauchamp, Ilminster, TA19 0JT, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax
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 financial statements. 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 tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.
Other operating income comprises net rents receivable and the receipt of government grants. Rents receivable are recognised on an accrual basis and government grants are recognised in the period to which the government grant relates.
The BPS entitlement has been written off at the balance sheet date as no longer hold any value.
Amortisation was previously provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Entitlements |
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Land and buildings |
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Plant and machinery |
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Vehicles |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Fixed asset investments comprise of non listed investments and are all stated at cost less impairment.
Included within other creditors over 1 year is an unsecured shareholders loan, which is measured at cost.
Dividend distribution to the company's shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Entitlements | Total | ||
£ | £ | ||
Cost | |||
At 01 October 2023 |
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Disposals | (
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At 30 September 2024 |
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Accumulated amortisation | |||
At 01 October 2023 |
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Impairment losses | (
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At 30 September 2024 |
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Net book value | |||
At 30 September 2024 |
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At 30 September 2023 |
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Land and buildings | Plant and machinery | Vehicles | Total | ||||
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Cost | |||||||
At 01 October 2023 |
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Additions |
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Disposals |
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At 30 September 2024 |
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Accumulated depreciation | |||||||
At 01 October 2023 |
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Charge for the financial year |
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Disposals |
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At 30 September 2024 |
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Net book value | |||||||
At 30 September 2024 |
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At 30 September 2023 |
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Other investments | Total | ||
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Cost or valuation before impairment | |||
At 01 October 2023 |
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At 30 September 2024 |
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Carrying value at 30 September 2024 |
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Carrying value at 30 September 2023 |
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2024 | 2023 | ||
£ | £ | ||
Crops |
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2024 | 2023 | ||
£ | £ | ||
Trade debtors |
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Amounts owed by directors |
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VAT recoverable |
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Other debtors |
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2024 | 2023 | ||
£ | £ | ||
Trade creditors |
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Taxation and social security |
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Other creditors |
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2024 | 2023 | ||
£ | £ | ||
Other loans |
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Transactions with the entity's directors
Advances
At 1 October 2023, the balance owed by M C W Hallett was £847. During the year, £36,854 was advanced to the director, and £57,089 was repaid by the director. At 30 September 2024, the balance owed to the director was £19,388.
At 1 October 2022, the balance owed to M C W Hallett was £1,522. During the year, £50,921 was advanced to the director, and £48,552 was repaid by the director. At 30 September 2023, the balance owed by the director was £847
At 1 October 2023, the balance owed by A W Hallett was £103,254. During the year, £0 was advanced to the director, and £0 was repaid by the director. At 30 September 2024, the balance owed by the director was £103,254.
At 1 October 2022, the balance owed by A W Hallett was £103,254. During the year, £0 was advanced to the director, and £0 was repaid by the director. At 30 September 2023, the balance owed by the director was £103,254.
Other related party transactions
A W Hallett is a settlor and M C W Hallett is a trustee in the Hallett Family 2017 Trust. At the Balance Sheet date the Hallett Family 2017 Trust owes Walronds Park Ltd £41,196 (2023: £41,082). No interest is charged on this loan.
A W Hallett is a settlor and M C W Hallett is a trustee in the Ann Wingrove Hallett Trust. At the Balance Sheet date the Ann Wingrove Hallett Trust owes Walronds Park Ltd £2,310 (2023: £2,310). No interest is charged on this loan.
A W Hallett is a settlor and M C W Hallett is a trustee in the Walronds Park 2011 Trust. At the balance sheet date the Walronds Park 2011 Trust owes Walronds park Ltd £29,877 (2023: £29,877). No interest is charged on this loan.