Company registration number 01428557 (England and Wales)
WEPRE INNS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
WEPRE INNS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
WEPRE INNS LTD
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
488
623
Investment property
5
1,517,313
1,667,313
1,517,801
1,667,936
Current assets
Debtors
6
394,005
443,612
Cash at bank and in hand
1,310,285
1,039,526
1,704,290
1,483,138
Creditors: amounts falling due within one year
7
(69,258)
(61,601)
Net current assets
1,635,032
1,421,537
Total assets less current liabilities
3,152,833
3,089,473
Provisions for liabilities
(107,289)
(123,754)
Net assets
3,045,544
2,965,719
Capital and reserves
Called up share capital
1,000
1,000
Revaluation reserve
8
564,680
650,013
Profit and loss reserves
2,479,864
2,314,706
Total equity
3,045,544
2,965,719
WEPRE INNS LTD
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -

For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 27 June 2025 and are signed on its behalf by:
Mrs J Dutton
Director
Company registration number 01428557 (England and Wales)
WEPRE INNS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information

Wepre Inns Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 11, Mold Business Park, Wrexham Road, Mold, CH7 1XP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

 

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
15% reducing balance

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 profit or loss.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and 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.

WEPRE INNS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

WEPRE INNS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities 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 in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
4
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 October 2023 and 30 September 2024
13,125
Depreciation and impairment
At 1 October 2023
12,502
Depreciation charged in the year
135
At 30 September 2024
12,637
Carrying amount
At 30 September 2024
488
At 30 September 2023
623
5
Investment property
2024
£
Fair value
At 1 October 2023
1,667,313
Disposals
(150,000)
At 30 September 2024
1,517,313
WEPRE INNS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
5
Investment property
(Continued)
- 6 -

Investment property comprises both residential and commercial buildings. The fair value of the investment property has been arrived at on the basis of a valuation carried out at the year end by Mr C P Tarran, who is a director of the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
5,984
9,470
Other debtors
369,899
414,971
Prepayments and accrued income
18,122
19,171
394,005
443,612
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
(21)
2,525
Corporation tax
31,295
21,552
Other taxation and social security
2,439
2,379
Other creditors
17,593
17,193
Accruals and deferred income
17,952
17,952
69,258
61,601
8
Revaluation reserve
2024
2023
£
£
At the beginning of the year
650,013
650,013
Other movements
(85,333)
-
At the end of the year
564,680
650,013
2024-09-302023-10-01falsefalsefalse27 June 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityMr C P TarranMrs Johanne DuttonMr J P TarranMr C P Tarran014285572023-10-012024-09-30014285572024-09-30014285572023-09-3001428557core:FurnitureFittings2024-09-3001428557core:FurnitureFittings2023-09-3001428557core:ShareCapital2024-09-3001428557core:ShareCapital2023-09-3001428557core:RevaluationReserve2024-09-3001428557core:RevaluationReserve2023-09-3001428557core:RetainedEarningsAccumulatedLosses2024-09-3001428557core:RetainedEarningsAccumulatedLosses2023-09-3001428557core:RevaluationReserve2023-09-3001428557core:RevaluationReserve2022-09-3001428557bus:Director22023-10-012024-09-3001428557core:FurnitureFittings2023-10-012024-09-30014285572022-10-012023-09-3001428557core:FurnitureFittings2023-09-30014285572023-09-3001428557core:CurrentFinancialInstruments2024-09-3001428557core:CurrentFinancialInstruments2023-09-3001428557bus:PrivateLimitedCompanyLtd2023-10-012024-09-3001428557bus:SmallCompaniesRegimeForAccounts2023-10-012024-09-3001428557bus:FRS1022023-10-012024-09-3001428557bus:AuditExemptWithAccountantsReport2023-10-012024-09-3001428557bus:Director12023-10-012024-09-3001428557bus:Director32023-10-012024-09-3001428557bus:CompanySecretary12023-10-012024-09-3001428557bus:FullAccounts2023-10-012024-09-30xbrli:purexbrli:sharesiso4217:GBP