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Registered number: 01079943
Wickwar Trading Estate Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
Kemp Hall Limited
Chartered Certified Accountants
19 Victoria Street
Burnham-On-Sea
Somerset
TA8 1AL
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 01079943
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,900,364 1,900,485
1,900,364 1,900,485
CURRENT ASSETS
Debtors 5 14,267 16,671
Cash at bank and in hand 4,115 20,281
18,382 36,952
Creditors: Amounts Falling Due Within One Year 6 (234,493 ) (204,135 )
NET CURRENT ASSETS (LIABILITIES) (216,111 ) (167,183 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,684,253 1,733,302
Creditors: Amounts Falling Due After More Than One Year 7 (11,569 ) (17,387 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (363,612 ) (363,635 )
NET ASSETS 1,309,072 1,352,280
CAPITAL AND RESERVES
Called up share capital 8 150 150
Fair value reserve 9 848,313 848,313
Profit and Loss Account 460,609 503,817
SHAREHOLDERS' FUNDS 1,309,072 1,352,280
Page 1
Page 2
For the year ending 31 July 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr P M Flook
Director
27/01/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Wickwar Trading Estate Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01079943 . The registered office is 25 Maxwell Street, Taunton, Somerset, TA2 6HR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold see note below
Plant & Machinery 25% Reducing Balance
If there is an indication that there has been a significant change in the depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
2.4. Investment Properties
All investment properties are carried at fair value 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 for. Changes in fair value are recognised in the profit and loss account statement. 
The directors have obtained a market value for the investment property. The movement in the fair value has been accounted for in the profit and loss account along with the associated deferred tax provision. 
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.5. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Tangible Assets
Land & Buildings Plant & Machinery etc. Total
£ £ £
Cost or Valuation
As at 1 August 2023 1,900,000 207,547 2,107,547
As at 31 July 2024 1,900,000 207,547 2,107,547
Depreciation
As at 1 August 2023 - 207,062 207,062
Provided during the period - 121 121
As at 31 July 2024 - 207,183 207,183
Net Book Value
As at 31 July 2024 1,900,000 364 1,900,364
As at 1 August 2023 1,900,000 485 1,900,485
Cost or valuation as at 31 July 2024 represented by:
Land & Property
Freehold Plant & Machinery Total
£ £ £
At cost 1,900,000 207,547 2,107,547
1,900,000 207,547 2,107,547
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 13,702 15,086
Other debtors 565 1,585
14,267 16,671
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 6,355 26,386
Other creditors 223,676 177,749
Taxation and social security 4,462 -
234,493 204,135
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 11,569 17,387
The loan above relates to a Bounce Back Loan drawn down, as part of COVID-19 business support measures. 
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 150 150
9. Reserves
Fair Value Reserve
£
As at 1 August 2023 848,313
As at 31 July 2024 848,313
10. Ultimate Controlling Party
The company's ultimate controlling party is the Flook family by virtue of its ownership of 99% of the issued share capital in the company.
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