Registered number
00739733
Barry Wade's Estates Limited
Filleted Accounts
31 August 2024
Barry Wade's Estates Limited
Registered number: 00739733
Balance Sheet
as at 31 August 2024
Notes 2024 2023
Fixed assets
Tangible assets 3 3,401,753 3,327,560
Current assets
Debtors 4 29,636 28,289
Cash at bank and in hand 174,686 147,067
204,322 175,356
Creditors: amounts falling due within one year 5 (42,008) (40,502)
Net current assets 162,314 134,854
Total assets less current liabilities 3,564,067 3,462,414
Provisions for liabilities (740,270) (721,684)
Net assets 2,823,797 2,740,730
Capital and reserves
Called up share capital 30,000 30,000
Profit and loss account 2,793,797 2,710,730
Shareholders' funds 2,823,797 2,740,730
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Miss H J R Wade
Director
Approved by the board on 28 May 2025
Barry Wade's Estates Limited
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents rental income being rent receivable from tenants in respect of the lease of the company's properties.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% pa reducing balance
Investment properties
Investment properties are carried at fair value determined annually by external valuers or the directors and derived from the current market rents and investment property yields for comparable properties, 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 profit or loss. No depreciation is provided on investment properties.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Investment properties Plant and machinery etc Total
Fair value
At 1 September 2023 3,327,404 1,021 3,328,425
Surplus on revaluation 74,344 - 74,344
Disposals - (473) (473)
At 31 August 2024 3,401,748 548 3,402,296
Depreciation
At 1 September 2023 - 865 865
Charge for the year - 2 2
On disposals - (324) (324)
At 31 August 2024 - 543 543
Net book value
At 31 August 2024 3,401,748 5 3,401,753
At 31 August 2023 3,327,404 156 3,327,560
Freehold land and buildings: 2024 2023
Historical cost 440,668 440,668
Cumulative depreciation based on historical cost - -
440,668 440,668
4 Debtors 2024 2023
Trade debtors 29,136 27,789
Other debtors 500 500
29,636 28,289
5 Creditors: amounts falling due within one year 2024 2023
Trade creditors 17,239 17,007
Taxation and social security costs 22,929 21,685
Other creditors 1,840 1,810
42,008 40,502
6 Controlling party
The directors consider that there is no individual controlling party.
7 Other information
Barry Wade's Estates Limited is a private company limited by shares and incorporated in England. Its registered office is:
Manor Farm
Harlington
Doncaster
South Yorkshire
DN5 7JB
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