Company Registration No. 4486212 (England and Wales)
TOWN & COUNTRY PROPERTIES (WHARFEDALE) LIMITED
Unaudited accounts
for the year ended 31 March 2024
TOWN & COUNTRY PROPERTIES (WHARFEDALE) LIMITED
Unaudited accounts
Contents
TOWN & COUNTRY PROPERTIES (WHARFEDALE) LIMITED
Company Information
for the year ended 31 March 2024
Directors
Mrs H K Hanson
Mr M G Hanson
Company Number
4486212 (England and Wales)
Registered Office
3 Back Nelson Road
Ilkley
West Yorkshire
LS29 8HW
United Kingdom
Accountants
John Shackleton & Co Ltd,
10 Claro Court Business Centre
Claro Road
Harrogate
North Yorkshire
HG1 4BA
TOWN & COUNTRY PROPERTIES (WHARFEDALE) LIMITED
Statement of financial position
as at 31 March 2024
Tangible assets
30,883
21,805
Investment property
1,190,000
1,190,000
Inventories
436,772
406,772
Cash at bank and in hand
645
645
Creditors: amounts falling due within one year
(656,373)
(589,361)
Net current liabilities
(199,841)
(157,254)
Total assets less current liabilities
1,021,042
1,054,551
Creditors: amounts falling due after more than one year
(589,362)
(575,716)
Provisions for liabilities
Deferred tax
(43,421)
(43,421)
Net assets
388,259
435,414
Called up share capital
2
2
Fair value reserve
396,316
396,316
Profit and loss account
(8,059)
39,096
Shareholders' funds
388,259
435,414
For the year ending 31 March 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 6 March 2025 and were signed on its behalf by
Mr M G Hanson
Director
Company Registration No. 4486212
TOWN & COUNTRY PROPERTIES (WHARFEDALE) LIMITED
Notes to the Accounts
for the year ended 31 March 2024
TOWN & COUNTRY PROPERTIES (WHARFEDALE) LIMITED is a private company, limited by shares, registered in England and Wales, registration number 4486212. The registered office is 3 Back Nelson Road, Ilkley, West Yorkshire, LS29 8HW, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% straight line
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Computer equipment
25% straight line
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 accounts. 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 average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
TOWN & COUNTRY PROPERTIES (WHARFEDALE) LIMITED
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2023
79,409
10,571
4,723
94,703
Additions
33,500
-
-
33,500
Disposals
(24,760)
-
-
(24,760)
At 31 March 2024
88,149
10,571
4,723
103,443
At 1 April 2023
59,725
8,450
4,723
72,898
Charge for the year
9,965
530
-
10,495
On disposals
(10,833)
-
-
(10,833)
At 31 March 2024
58,857
8,980
4,723
72,560
At 31 March 2024
29,292
1,591
-
30,883
At 31 March 2023
19,684
2,121
-
21,805
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Motor vehicles
27,656
17,302
Fair value at 1 April 2023
1,190,000
At 31 March 2024
1,190,000
Investment property was revalued by the Directors at 31 March 2022. If it had not been revalued it would have been shown at a total cost of acquisition of £833332 (2022 £833332).
Amounts falling due after more than one year
Trade debtors
19,115
24,690
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
7,237
2,848
Obligations under finance leases and hire purchase contracts
7,200
5,022
Trade creditors
28,046
32,614
Taxes and social security
25,114
23,233
Other creditors
217,164
820
Loans from directors
347,387
500,599
TOWN & COUNTRY PROPERTIES (WHARFEDALE) LIMITED
Notes to the Accounts
for the year ended 31 March 2024
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
564,418
564,418
Obligations under finance leases and hire purchase contracts
24,944
11,298
Aggregate of amounts that fall due for payment after five years
545,985
545,985
The company has a bank loan with a value of £545985 (2021 £545985) which is secured on the company's properties.
9
Transactions with related parties
During the year the company performed work for Mr and Mrs Hanson of £40000.
The company was charged rent by Hanson Property Ltd of £10000 (2022 £20000)
Hanson Property Ltd is a company of which Mr & Mrs Hanson are directors and shareholders.
10
Average number of employees
During the year the average number of employees was 2 (2023: 2).