Caseware UK (AP4) 2023.0.135 2023.0.135 2024-10-312024-10-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-11-01falsetrueNo description of principal activity22true 09822344 2023-11-01 2024-10-31 09822344 2022-11-01 2023-10-31 09822344 2024-10-31 09822344 2023-10-31 09822344 2022-11-01 09822344 1 2023-11-01 2024-10-31 09822344 1 2022-11-01 2023-10-31 09822344 d:Director1 2023-11-01 2024-10-31 09822344 e:FreeholdInvestmentProperty 2023-11-01 2024-10-31 09822344 e:FreeholdInvestmentProperty 2024-10-31 09822344 e:FreeholdInvestmentProperty 2023-10-31 09822344 e:CurrentFinancialInstruments 2024-10-31 09822344 e:CurrentFinancialInstruments 2023-10-31 09822344 e:Non-currentFinancialInstruments 2024-10-31 09822344 e:Non-currentFinancialInstruments 2023-10-31 09822344 e:CurrentFinancialInstruments e:WithinOneYear 2024-10-31 09822344 e:CurrentFinancialInstruments e:WithinOneYear 2023-10-31 09822344 e:Non-currentFinancialInstruments e:AfterOneYear 2024-10-31 09822344 e:Non-currentFinancialInstruments e:AfterOneYear 2023-10-31 09822344 e:Non-currentFinancialInstruments e:BetweenOneTwoYears 2024-10-31 09822344 e:Non-currentFinancialInstruments e:BetweenOneTwoYears 2023-10-31 09822344 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2024-10-31 09822344 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2023-10-31 09822344 e:ShareCapital 2024-10-31 09822344 e:ShareCapital 2023-10-31 09822344 e:ShareCapital 2022-11-01 09822344 e:InvestmentPropertiesRevaluationReserve 2023-11-01 2024-10-31 09822344 e:InvestmentPropertiesRevaluationReserve 2024-10-31 09822344 e:InvestmentPropertiesRevaluationReserve 1 2023-11-01 2024-10-31 09822344 e:InvestmentPropertiesRevaluationReserve 2023-10-31 09822344 e:InvestmentPropertiesRevaluationReserve 2022-11-01 09822344 e:InvestmentPropertiesRevaluationReserve 1 2022-11-01 2023-10-31 09822344 e:RetainedEarningsAccumulatedLosses 2023-11-01 2024-10-31 09822344 e:RetainedEarningsAccumulatedLosses 2024-10-31 09822344 e:RetainedEarningsAccumulatedLosses 2022-11-01 2023-10-31 09822344 e:RetainedEarningsAccumulatedLosses 2023-10-31 09822344 e:RetainedEarningsAccumulatedLosses 2022-11-01 09822344 d:FRS102 2023-11-01 2024-10-31 09822344 d:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 09822344 d:FullAccounts 2023-11-01 2024-10-31 09822344 d:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 09822344 e:OtherDeferredTax 2024-10-31 09822344 e:OtherDeferredTax 2023-10-31 iso4217:GBP xbrli:pure
Registered number: 09822344






WOLF BROTHERS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024










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WOLF BROTHERS LIMITED
REGISTERED NUMBER:09822344

BALANCE SHEET
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
-
157,000

  
-
157,000

Current assets
  

Debtors: amounts falling due within one year
 5 
249
386

Cash at bank and in hand
 6 
3,752
905

  
4,001
1,291

Creditors: amounts falling due within one year
 7 
(1,646)
(103,059)

Net current assets/(liabilities)
  
 
 
2,355
 
 
(101,768)

Total assets less current liabilities
  
2,355
55,232

Creditors: amounts falling due after more than one year
 8 
-
(1,737)

Provisions for liabilities
  

Deferred tax
 10 
-
(1,589)

  
 
 
-
 
 
(1,589)

Net assets
  
2,355
51,906


Capital and reserves
  

Called up share capital 
  
100
100

Investment property reserve
 11 
-
15,694

Profit and loss account
 11 
2,255
36,112

  
2,355
51,906


Page 1

 
WOLF BROTHERS LIMITED
REGISTERED NUMBER:09822344
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J S Wolvaardt
Director

Date: 28 February 2025

Page 2

 
WOLF BROTHERS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2024


Called up share capital
Investment property revaluation reserve
Profit and loss account
Total equity

£
£
£
£


At 1 November 2022
100
47,826
10,998
58,924


Comprehensive income for the year

Loss for the year
-
-
(7,018)
(7,018)

Transfer to/from profit and loss account
-
-
32,132
32,132

Transfer between other reserves
-
(32,132)
-
(32,132)



At 1 November 2023
100
15,694
36,112
51,906


Comprehensive income for the year

Loss for the year
-
-
(4,451)
(4,451)


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(45,100)
(45,100)

Transfer to/from profit and loss account
-
-
15,694
15,694

Transfer between other reserves
-
(15,694)
-
(15,694)


At 31 October 2024
100
-
2,255
2,355


Page 3

 
WOLF BROTHERS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

Wolf Brothers Limited is a private company limited by shares, incorporated in England and Wales. Its registered office is Millhouse, 32-38 East Street, Rochford, Essex, England, SS4 1DB. 
The principal activity of the company continued to be that of property investment.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
WOLF BROTHERS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Investment property

Investment property is carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Income and Retained Earnings.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
WOLF BROTHERS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.10

Provisions for liabilities

Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

 
2.11

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's Balance Sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts
Page 6

 
WOLF BROTHERS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)


2.11
Financial instruments (continued)

discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 -2).

Page 7

 
WOLF BROTHERS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

4.


Investment property


Freehold investment property

£





At 1 November 2023
157,000


Disposals
(157,000)



At 31 October 2024
-

 
2024
2023
£
£

Revaluation reserves


At 1 November 2023
15,694
47,826

Net deficit in movement properties
(15,694)
(32,132)

At 31 October 2024
-
15,694



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
-
139,716

-
139,716


5.


Debtors

2024
2023
£
£


Other debtors
249
-

Prepayments and accrued income
-
386

249
386


Page 8

 
WOLF BROTHERS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
3,752
905

3,752
905



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
-
1,008

Other taxation and social security
552
3,263

Other creditors
34
97,778

Accruals and deferred income
1,060
1,010

1,646
103,059



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
-
1,737

-
1,737


Page 9

 
WOLF BROTHERS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
-
1,008

Amounts falling due 1-2 years

Bank loans
-
1,033

Amounts falling due 2-5 years

Bank loans
-
704


-
2,745



10.


Deferred taxation




2024


£






At beginning of year
(1,589)


Charged to profit or loss
1,589



At end of year
-

The deferred taxation balance is made up as follows:

2024
2023
£
£


Revaluation of investment property
-
(1,589)

-
(1,589)


11.


Reserves

Investment property revaluation reserve

This reserve forms part of the profit and loss reserve representing the non-distributable element arising from the revaluation of investment property net of deferred tax.

Profit and loss account

All reserves in respect of profit and loss are distributable reserves.

 
Page 10