Registered number
03820840
Wheatcroft Limited
Unaudited Filleted Accounts
31 December 2024
Wheatcroft Limited
Registered number: 03820840
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 14,000,000 8,000,000
Current assets
Debtors 4 247,952 464,984
Cash at bank and in hand 538,610 503,808
786,562 968,792
Creditors: amounts falling due within one year 5 (820,057) (994,957)
Net current liabilities (33,495) (26,165)
Total assets less current liabilities 13,966,505 7,973,835
Provisions for liabilities (3,232,550) (1,732,550)
Net assets 10,733,955 6,241,285
Capital and reserves
Called up share capital 11,575 11,575
Share premium 3,390,245 3,390,245
Revaluation reserve 6 6,767,450 2,267,450
Profit and loss account 564,685 572,015
Shareholders' funds 10,733,955 6,241,285
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.
C A Wheatcroft
Director
Approved by the board on 27 May 2025
Wheatcroft Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of land and buildings 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 the rental income due for the year.

Rentals received under operating leases are credited to revenue on a straight line basis over the lease term.
Investment property
The investment property is revalued annually by the directors at fair value. Any surplus or deficit on revaluation is recognised in the profit and loss in the year they occur and are transferred to the revaluation reserve.

No depreciation is provided in respect of the investment property.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Investment property
£
Cost
At 1 January 2024 8,000,000
Surplus on revaluation 6,000,000
At 31 December 2024 14,000,000
Depreciation
At 31 December 2024 -
Net book value
At 31 December 2024 14,000,000
At 31 December 2023 8,000,000
Investment property: 2024 2023
£ £
Historical cost 4,000,000 4,000,000
Cumulative depreciation based on historical cost - -
4,000,000 4,000,000
The investment property has been valued by the directors at a value of £14,000,000 (2023 - £8,000,000) the director's consider this to be the fair value.
4 Debtors 2024 2023
£ £
Trade debtors 247,952 -
Other debtors - 464,984
247,952 464,984
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 245,713 191,854
Other creditors 574,344 803,103
820,057 994,957
6 Revaluation reserve 2024 2023
£ £
At 1 January 2024 2,267,450 2,683,262
Gain on revaluation of investment property 6,000,000 -
Deferred taxation arising on the revaluation of investment property (1,500,000) (415,812)
At 31 December 2024 6,767,450 2,267,450
7 Related party transactions
Included in Other Creditors are balances owed to two Directors' Trusts, interest has not been paid on the outstanding balances.
8 Other information
Wheatcroft Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Poplars
Main Street
Cropwell Butler
Nottinghamshire
NG12 3AB
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