REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 30 June 2024 |
for |
Wellingore Estates Ltd |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 30 June 2024 |
for |
Wellingore Estates Ltd |
Wellingore Estates Ltd (Registered number: 04102714) |
Contents of the Financial Statements |
for the Year Ended 30 June 2024 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Wellingore Estates Ltd |
Company Information |
for the Year Ended 30 June 2024 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Newland House |
The Point |
Weaver Road |
LINCOLN |
Lincolnshire |
LN6 3QN |
BANKERS: |
13 The Stonebow Centre |
LINCOLN |
Lincolnshire |
LN2 1DQ |
Wellingore Estates Ltd (Registered number: 04102714) |
Abridged Balance Sheet |
30 June 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
Wellingore Estates Ltd (Registered number: 04102714) |
Abridged Balance Sheet - continued |
30 June 2024 |
The financial statements were approved by the director and authorised for issue on |
Wellingore Estates Ltd (Registered number: 04102714) |
Notes to the Financial Statements |
for the Year Ended 30 June 2024 |
1. | STATUTORY INFORMATION |
Wellingore Estates Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Investment properties held as fixed assets are stated at fair value. |
Investment properties are rented out under operating leases and rental income is recognised on a straight line basis over the term of the lease. |
Financial instruments |
Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows: |
Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. |
Cash at bank is classified as a basic financial instrument and is measured at transaction price. |
Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest. |
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. |
Wellingore Estates Ltd (Registered number: 04102714) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 July 2023 |
Disposals | ( |
) |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
The investment property was rented out under an operating lease. Rental income received amounted to £10,550 (2023 - £10,250). |
During the year the two properties held by the company were transferred to C N Overton Ltd. C N Overton Ltd is a company within the same group. This transfer was at no gain no loss. |
Wellingore Estates Ltd (Registered number: 04102714) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
5. | RELATED PARTY DISCLOSURES |
NDC Group Ltd |
The above company owns 100% of the issued share capital of the company. |
Mr R M Overton is a Director and owns 100% of the share capital of C N Overton Holdings Ltd of which holds 100% of the share capital of NDC Group Ltd. |
Included in other creditors is an amount of £449,535 (2023 - £460,085) owing to NDC Group Ltd. This loan is unsecured, interest free and repayable on demand. |
C N Overton Ltd |
Mr R M Overton is a Director and owns 100% of the share capital of C N Overton Holdings Ltd of which holds 75% of the share capital of C N Overton Ltd. |
Included in other debtors is an amount of £533,750 (2023 - £Nil) owing from C N Overton Ltd. This loan is unsecured, interest free and repayable on demand. |