Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-302024-09-302023-10-01falsefalseNo description of principal activity33truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01719748 2023-10-01 2024-09-30 01719748 2022-10-01 2023-09-30 01719748 2024-09-30 01719748 2023-09-30 01719748 2022-10-01 01719748 c:Director1 2023-10-01 2024-09-30 01719748 d:MotorVehicles 2023-10-01 2024-09-30 01719748 d:MotorVehicles 2024-09-30 01719748 d:MotorVehicles 2023-09-30 01719748 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 01719748 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-10-01 2024-09-30 01719748 d:FurnitureFittings 2023-10-01 2024-09-30 01719748 d:FurnitureFittings 2024-09-30 01719748 d:FurnitureFittings 2023-09-30 01719748 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 01719748 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-10-01 2024-09-30 01719748 d:ComputerEquipment 2023-10-01 2024-09-30 01719748 d:ComputerEquipment 2024-09-30 01719748 d:ComputerEquipment 2023-09-30 01719748 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 01719748 d:ComputerEquipment d:LeasedAssetsHeldAsLessee 2023-10-01 2024-09-30 01719748 d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 01719748 d:LeasedAssetsHeldAsLessee 2023-10-01 2024-09-30 01719748 d:FreeholdInvestmentProperty 2024-09-30 01719748 d:FreeholdInvestmentProperty 2023-09-30 01719748 d:FreeholdInvestmentProperty 2 2023-10-01 2024-09-30 01719748 d:CurrentFinancialInstruments 2024-09-30 01719748 d:CurrentFinancialInstruments 2023-09-30 01719748 d:CurrentFinancialInstruments 3 2024-09-30 01719748 d:CurrentFinancialInstruments 3 2023-09-30 01719748 d:Non-currentFinancialInstruments 2024-09-30 01719748 d:Non-currentFinancialInstruments 2023-09-30 01719748 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 01719748 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 01719748 d:Non-currentFinancialInstruments d:AfterOneYear 2024-09-30 01719748 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 01719748 d:ShareCapital 2024-09-30 01719748 d:ShareCapital 2023-09-30 01719748 d:RetainedEarningsAccumulatedLosses 2024-09-30 01719748 d:RetainedEarningsAccumulatedLosses 2023-09-30 01719748 c:FRS102 2023-10-01 2024-09-30 01719748 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 01719748 c:FullAccounts 2023-10-01 2024-09-30 01719748 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 01719748 2 2023-10-01 2024-09-30 01719748 6 2023-10-01 2024-09-30 01719748 d:AcceleratedTaxDepreciationDeferredTax 2024-09-30 01719748 d:AcceleratedTaxDepreciationDeferredTax 2023-09-30 01719748 d:OtherDeferredTax 2024-09-30 01719748 d:OtherDeferredTax 2023-09-30 01719748 f:PoundSterling 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure

Registered number: 01719748










WESSEX HERITAGE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
WESSEX HERITAGE LIMITED
REGISTERED NUMBER: 01719748

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
23,378
30,264

Investments
 5 
50
50

Investment property
 6 
2,310,000
2,195,000

  
2,333,428
2,225,314

Current assets
  

Debtors
 7 
195,624
263,509

Cash at bank and in hand
 8 
281,248
305,324

  
476,872
568,833

Creditors: amounts falling due within one year
 9 
(708,677)
(712,321)

Net current liabilities
  
 
 
(231,805)
 
 
(143,488)

Total assets less current liabilities
  
2,101,623
2,081,826

Creditors: amounts falling due after more than one year
 10 
(168,150)
(181,369)

  

Net assets
  
1,933,473
1,900,457


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,933,373
1,900,357

  
1,933,473
1,900,457


Page 1

 
WESSEX HERITAGE LIMITED
REGISTERED NUMBER: 01719748
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 18 June 2025.




J.G. Taylor
Director

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
WESSEX HERITAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Wessex Heritage Limited is a private company, limited by shares, incorporated and registered in England and Wales. The principal activity of the Company continued to be that of property investment and property development. The registered office address of the business is 6th Floor, 2 London Wall Place, London, EC2Y 5AU.
The financial statements are presented in sterling, which is the functional currency of the Company and rounded to the nearest £1.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The shareholder has indicated that they will continue to provide further financial support, as is necessary, to enable the Company to meet its liabilites as they fall due, over a period of at least 12 months from the date of approval of these accounts. As such these accounts have been prepared under the going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
WESSEX HERITAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.4

Operating leases

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
 
 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
WESSEX HERITAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
Reducing balance
Fixtures and fittings
-
25%
Reducing balance
Computer equipment
-
33%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
WESSEX HERITAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.11

Investment property

Investment property is carried at fair value determined annually by external valuers 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. Changes in fair value are recognised in profit or loss.

 
2.12

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.13

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

 
2.14

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.15

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.16

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.17

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 6

 
WESSEX HERITAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.18

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due within the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Page 7

 
WESSEX HERITAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)


2.18
Financial instruments (continued)

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 8

 
WESSEX HERITAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 October 2023
68,390
50,479
14,155
133,024


Additions
-
1,082
-
1,082



At 30 September 2024

68,390
51,561
14,155
134,106



Depreciation


At 1 October 2023
42,428
47,759
12,573
102,760


Charge for the year on owned assets
-
950
527
1,477


Charge for the year on financed assets
6,491
-
-
6,491



At 30 September 2024

48,919
48,709
13,100
110,728



Net book value



At 30 September 2024
19,471
2,852
1,055
23,378



At 30 September 2023
25,962
2,720
1,582
30,264


5.


Fixed asset investments





Investment in joint ventures

£



Cost or valuation


At 1 October 2023
50



At 30 September 2024
50




Page 9

 
WESSEX HERITAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6.


Investment property


Freehold investment property

£



Valuation


At 1 October 2023
2,195,000


Surplus on revaluation
115,000



At 30 September 2024
2,310,000

The 2024 valuations were made by the director who is a chartered surveyor, on an open market value for existing use basis.



If the investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
1,189,519
1,189,519



7.


Debtors


2024
2023
£
£

Due after more than one year

Other debtors
130,000
170,000

Due within one year

Trade debtors
9,867
10,925

Other debtors
45,869
41,772

Prepayments and accrued income
9,794
11,970

Deferred taxation
94
28,842

195,624
263,509


Page 10

 
WESSEX HERITAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
281,248
305,324



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
13,516
12,256

Trade creditors
13,238
8,299

Corporation tax
-
282

Other taxation and social security
-
5,542

Other creditors
659,284
659,483

Accruals and deferred income
22,589
26,409

Amounts owed to joint venture company
50
50

708,677
712,321



10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
168,150
181,369


Page 11

 
WESSEX HERITAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

11.


Deferred taxation




2024
2023


£

£






At beginning of year
28,842
(32,422)


Credited to profit or loss
(28,748)
61,264



At end of year
94
28,842

The deferred tax asset is made up as follows:

2024
2023
£
£


Accelerated capital allowances
1,785
1,784

Revaluation of investment property
(1,691)
27,058

94
28,842


12.


Pension commitments

The Company operatres a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £764 (2023 - £740).


13.


Controlling party

The ultimate controlling party was J.G Taylor throughout the current and previous year, by virtue of owning the entire share capital of the Company.

 
Page 12