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REGISTERED NUMBER: 12678021 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

WELFORD ESTATES LIMITED

WELFORD ESTATES LIMITED (REGISTERED NUMBER: 12678021)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


WELFORD ESTATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: J R Maxey MA,FRICS, FAAV
Mrs E M Maxey





SECRETARY: J R Maxey MA,FRICS, FAAV





REGISTERED OFFICE: Gresham Barn
Sandy Lane
Hardingham
Norwich
Norfolk
NR9 4EP





REGISTERED NUMBER: 12678021 (England and Wales)





ACCOUNTANTS: Wheelers
Chartered Accountants & Tax Consultants
27-29 Old Market
Wisbech
Cambridgeshire
PE13 1NE

WELFORD ESTATES LIMITED (REGISTERED NUMBER: 12678021)

BALANCE SHEET
30 JUNE 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 430,000 450,000

CURRENT ASSETS
Cash at bank 9,301 2,529

CREDITORS
Amounts falling due within one year 5 365,011 368,623
NET CURRENT LIABILITIES (355,710 ) (366,094 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

74,290

83,906

PROVISIONS FOR LIABILITIES 15,972 20,772
NET ASSETS 58,318 63,134

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 6 50,580 65,780
Retained earnings 7,638 (2,746 )
SHAREHOLDERS' FUNDS 58,318 63,134

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 10 February 2025 and were signed on its behalf by:




J R Maxey MA,FRICS, FAAV - Director


WELFORD ESTATES LIMITED (REGISTERED NUMBER: 12678021)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Welford Estates 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

At the balance sheet date, the company had net current liabilities of £355,710 by virtue of its current liabilities exceeding its current assets. The directors are confident that the going concern basis for the preparation of the financial statements is appropriate, and have confirmed their continuing support for the company in writing.

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

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.

Investment properties
Investment properties in accordance with Financial Reporting Standard 102 are revalued annually by the director on an informal basis by reference to the letting agents, and the aggregate surplus or deficit included in profit for the year together with a provision for corporation tax on capital gains which would arise if in the future the properties were sold at the balance sheet value. The net amount is not distributable and transferred to a revaluation reserve.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

WELFORD ESTATES LIMITED (REGISTERED NUMBER: 12678021)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 450,000
Revaluations (20,000 )
At 30 June 2024 430,000
NET BOOK VALUE
At 30 June 2024 430,000
At 30 June 2023 450,000

Investment properties were valued on an open market basis on 30 June 2024 by the directors.

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2024 430,000

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Taxation and social security 1,792 -
Other creditors 363,219 368,623
365,011 368,623

6. RESERVES
Revaluation
reserve
£   
At 1 July 2023 65,780
Revaluation (15,200 )

At 30 June 2024 50,580

7. RELATED PARTY DISCLOSURES

During the year, the directors were charged rent of £3,600 (2023 - £2,400).