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REGISTERED NUMBER: 01902223 (England and Wales)










WAREHOUSE & INDUSTRIAL DEVELOPMENTS
LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024






WAREHOUSE & INDUSTRIAL DEVELOPMENTS
LIMITED (REGISTERED NUMBER: 01902223)






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




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


WAREHOUSE & INDUSTRIAL DEVELOPMENTS
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: J J McCann



REGISTERED OFFICE: Abercrychan Mill Farm
Llandovery
Carmarthenshire
SA20 0YW



REGISTERED NUMBER: 01902223 (England and Wales)



ACCOUNTANTS: Bevan Buckland LLP
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA



BANKERS: HSBC Plc
10 Market Square
Llandovery
Dyfed
SA20 0AA

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
WAREHOUSE & INDUSTRIAL DEVELOPMENTS
LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Warehouse & Industrial Developments Limited for the year ended 30 June 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Warehouse & Industrial Developments Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Warehouse & Industrial Developments Limited and state those matters that we have agreed to state to the director of Warehouse & Industrial Developments Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Warehouse & Industrial Developments Limited and its director for our work or for this report.

It is your duty to ensure that Warehouse & Industrial Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Warehouse & Industrial Developments Limited. You consider that Warehouse & Industrial Developments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Warehouse & Industrial Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Bevan Buckland LLP
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA


28 March 2025

WAREHOUSE & INDUSTRIAL DEVELOPMENTS
LIMITED (REGISTERED NUMBER: 01902223)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,034,413 1,051,506
Investment property 6 500,000 470,000
1,534,413 1,521,506

CURRENT ASSETS
Stocks 370,400 283,400
Debtors 7 209,400 317,642
Cash at bank and in hand 406,467 529,272
986,267 1,130,314
CREDITORS
Amounts falling due within one year 8 503,537 577,284
NET CURRENT ASSETS 482,730 553,030
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,017,143

2,074,536

PROVISIONS FOR LIABILITIES (139,999 ) (160,549 )

ACCRUALS AND DEFERRED INCOME (1,096 ) (1,218 )
NET ASSETS 1,876,048 1,912,769

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 9 62,308 62,308
Retained earnings 1,813,640 1,850,361
SHAREHOLDERS' FUNDS 1,876,048 1,912,769

WAREHOUSE & INDUSTRIAL DEVELOPMENTS
LIMITED (REGISTERED NUMBER: 01902223)

BALANCE SHEET - continued
30 JUNE 2024


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 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.

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 director and authorised for issue on 28 March 2025 and were signed by:





J J McCann - Director


WAREHOUSE & INDUSTRIAL DEVELOPMENTS
LIMITED (REGISTERED NUMBER: 01902223)

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

1. STATUTORY INFORMATION

Warehouse & Industrial Developments 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.

Going Concern
After reviewing the Company's forecasts and projections, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the Company's accounting policies the director is required to make judgements, estimates and assumptions about the carrying amounts of assets and libation's that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

In the process of applying the Company's accounting policies the Director does not consider there to be judgements that would have a significant effect on the amounts recognised in 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.

Engineering turnover is recognised when goods are despatched or when the services are provided. For service revenue, turnover is recognised evenly across the duration of the agreement in line with when the service is delivered.

Revenue is recognised at the point of sale for fuel and convenience sales.

Due to the nature of the products sold, the company does not experience material levels of returns.

Grants
Grants that relate to specific capital expenditure are treated as deferred income which is then credited to the profit and loss account over the related asset's life. Other grants are credited to the profit and loss account when received.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

WAREHOUSE & INDUSTRIAL DEVELOPMENTS
LIMITED (REGISTERED NUMBER: 01902223)

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

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 1% on cost and Straight line over 40 years
Freehold improvements - 20% on cost and 10% on cost
Plant and Machinery - 10% reducing balance
Fixtures and fittings - 15% reducing balance
Motor vehicles - 20% on cost

Freehold land is not depreciated.

Cost comprises the purchase price of the asset and expenditure directly attributable to the acquisition of the item.

A fixed asset is derecognised upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the income statement.

Impairment of fixed assets
The company performs impairment testing where there are any indicators of impairment. Impairment is calculated as the difference between the carrying value and the recoverable value of the asset. Recoverable value is the higher of net realisable value and estimated value in use at the date the impairment loss is recognised. Value in use represents the present value of expected future discounted cash flows. If incurred, impairment is recognised immediately in the income statement.

Where an impairment loss subsequently reverses, the carrying value of the asset is increased to the revised estimate of the recoverable amount, but so that the increased carrying value does not exceed the carrying value that would have been determined if no impairment loss had been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately as a credit to the income statement.

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 are measured initially at cost, including transaction costs. Subsequent to initial recognition, investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the statement of comprehensive income. Deferred tax is provided against these gains at the rate expected to apply when the property is sold. The treatment is in line with the fair value provisions of the Companies Act.

Investment properties are derecognised when either they have been disposed of or when the investment property is permanently withdrawn from use and no future economic benefit is expected from its disposal.

Investment properties are reclassified as 'held for sale' assets from commencement of marketing for disposal, provided that the directors have reasonable expectation that they will be sold within a period of 12 months.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

The company applies the FIFO basis in valuing stock.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.


WAREHOUSE & INDUSTRIAL DEVELOPMENTS
LIMITED (REGISTERED NUMBER: 01902223)

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

2. ACCOUNTING POLICIES - continued
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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Employee benefits
The company provides a range of benefits of employees, including paid holiday arrangements and defined contribution pension plans.

Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Creditors
Short term creditors are measured at transaction price.

Provisions
A provision is recognised in the statement of financial position when the company has a legal or constructive obligation as a result of a past event, where it is more likely than not that an outflow of resources will be required to settle that obligation, and a reliable estimate of the amount can be made.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligation as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligation may be small.

WAREHOUSE & INDUSTRIAL DEVELOPMENTS
LIMITED (REGISTERED NUMBER: 01902223)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 14 ).

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 129,999
AMORTISATION
At 1 July 2023
and 30 June 2024 129,999
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

5. TANGIBLE FIXED ASSETS
Freehold Freehold Plant and
property improvements Machinery
£    £    £   
COST
At 1 July 2023 522,653 67,394 1,136,358
Additions - - 58,398
At 30 June 2024 522,653 67,394 1,194,756
DEPRECIATION
At 1 July 2023 62,064 45,076 603,662
Charge for year 5,316 3,173 56,525
At 30 June 2024 67,380 48,249 660,187
NET BOOK VALUE
At 30 June 2024 455,273 19,145 534,569
At 30 June 2023 460,589 22,318 532,696

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 July 2023 39,015 79,595 1,845,015
Additions 1,047 - 59,445
At 30 June 2024 40,062 79,595 1,904,460
DEPRECIATION
At 1 July 2023 26,902 55,805 793,509
Charge for year 1,884 9,640 76,538
At 30 June 2024 28,786 65,445 870,047
NET BOOK VALUE
At 30 June 2024 11,276 14,150 1,034,413
At 30 June 2023 12,113 23,790 1,051,506

Included in cost of land and buildings is freehold land of £ 470,000 (2023 - £ 470,000 ) which is not depreciated.

WAREHOUSE & INDUSTRIAL DEVELOPMENTS
LIMITED (REGISTERED NUMBER: 01902223)

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

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 470,000
Revaluations 30,000
At 30 June 2024 500,000
NET BOOK VALUE
At 30 June 2024 500,000
At 30 June 2023 470,000

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2020 18,500
Valuation in 2022 60,000
Valuation in 2024 30,000
Cost 391,500
500,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 391,500 391,500

Investment property was valued on an open market basis on 30 June 2023 by the directors. .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 94,645 142,908
Other debtors 72,656 72,656
Directors' current accounts 37,324 97,350
Prepayments 4,775 4,728
209,400 317,642

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 188,857 211,818
Taxation and social security 9,748 21,510
Other creditors 304,932 343,956
503,537 577,284

9. RESERVES
Fair
value
reserve
£   
At 1 July 2023
and 30 June 2024 62,308

The fair value reserve is a non-distributable reserve.

WAREHOUSE & INDUSTRIAL DEVELOPMENTS
LIMITED (REGISTERED NUMBER: 01902223)

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

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
£    £   
J J McCann
Balance outstanding at start of year 97,351 150,272
Amounts advanced 29,303 26,703
Amounts repaid (89,330 ) (79,624 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 37,324 97,351

Loans are interest free and repayable on demand.

11. RELATED PARTY DISCLOSURES

During the year the company was charged rent of £50,000 (2023: £53,000) by Mr J J McCann, a director of the company.

12. ULTIMATE CONTROLLING PARTY

The company is owned and controlled by Mr J J McCann who owns 99% of the issued share capital of the company.