Company registration number 11520104 (England and Wales)
WELLINGTON ESTATES BARN LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
WELLINGTON ESTATES BARN LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
969,341
1,022,886
Current assets
Stocks
1,069
1,069
Debtors
4
425,658
381,034
Cash at bank and in hand
17,337
568
444,064
382,671
Creditors: amounts falling due within one year
5
(837,600)
(629,787)
Net current liabilities
(393,536)
(247,116)
Total assets less current liabilities
575,805
775,770
Creditors: amounts falling due after more than one year
6
(21,560)
-
Net assets
554,245
775,770
Capital and reserves
Called up share capital
1,800,000
1,800,000
Profit and loss reserves
(1,245,755)
(1,024,230)
Total equity
554,245
775,770
WELLINGTON ESTATES BARN LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -

For the financial year ended 31 December 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 30 June 2025 and are signed on its behalf by:
Miss H Williams
Director
Company registration number 11520104 (England and Wales)
WELLINGTON ESTATES BARN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

Wellington Estates Barn Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Estate Office, Stratfield Saye, Reading, Berkshire, RG7 2BT.

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. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
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:

Leasehold land and buildings
25 years straight line
Fixtures and fittings
5 and 10 years straight line

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.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks.

WELLINGTON ESTATES BARN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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 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.

Classification of 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 deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors and loans from fellow group companies, 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.

 

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

1.8
Taxation

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

WELLINGTON ESTATES BARN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

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

2024
2023
Number
Number
Total
10
14
3
Tangible fixed assets
Leasehold land and buildings
Fixtures and fittings
Total
£
£
£
Cost
At 1 January 2024
887,973
455,438
1,343,411
Additions
-
0
43,222
43,222
At 31 December 2024
887,973
498,660
1,386,633
Depreciation and impairment
At 1 January 2024
106,559
213,966
320,525
Depreciation charged in the year
35,520
61,247
96,767
At 31 December 2024
142,079
275,213
417,292
Carrying amount
At 31 December 2024
745,894
223,447
969,341
At 31 December 2023
781,414
241,472
1,022,886
WELLINGTON ESTATES BARN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
3,901
2,908
Other debtors
2,616
32,827
6,517
35,735
2024
2023
Amounts falling due after more than one year:
£
£
Deferred tax asset
419,141
345,299
Total debtors
425,658
381,034
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
91,195
24,017
Taxation and social security
5,254
11,908
Other creditors
741,151
593,862
837,600
629,787
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
21,560
-
0
7
Related party transactions

The company is related to certain other entities within the Wellington Estate operations by virtue of common ownership and/or management. In particular, working capital funding is managed across all related entities as needs arise. During the year, in addition to working capital transactions, the company was recharged costs by related entities of £80,665 (2023: £44,307) and recharged costs to related entities of £12,529 (2023: £9,919). At the reporting date related entity trade debtors amounted to £1,583 (2023: £1,485) and related entity trade creditors amounted to £29,495 (2023: £8,094).

 

At the year end the company was owed £Nil (2023: £18,069) from Wellesley Prep School Limited. This amount is interest free, repayable on demand and is shown within other debtors.

 

At the year end the company owed £112,000 (2023: £458,000) to Wellington Country Park Limited. This amount is interest free, repayable on demand and is shown within other creditors.

 

At the year end the company owed £486,931 (2023: £Nil) to Wellington Estates Education Limited. This amount is interest free, repayable on demand and is shown within other creditors.

2024-12-312024-01-01falsefalsefalse10 July 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityLord A MorningtonMs H Williams115201042024-01-012024-12-31115201042024-12-31115201042023-12-3111520104core:LandBuildingscore:LeasedAssetsHeldAsLessee2024-12-3111520104core:FurnitureFittings2024-12-3111520104core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-12-3111520104core:FurnitureFittings2023-12-3111520104core:CurrentFinancialInstrumentscore:WithinOneYear2024-12-3111520104core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3111520104core:ShareCapital2024-12-3111520104core:ShareCapital2023-12-3111520104core:RetainedEarningsAccumulatedLosses2024-12-3111520104core:RetainedEarningsAccumulatedLosses2023-12-3111520104bus:Director22024-01-012024-12-3111520104core:LandBuildingscore:LongLeaseholdAssets2024-01-012024-12-3111520104core:FurnitureFittings2024-01-012024-12-31115201042023-01-012023-12-3111520104core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-12-3111520104core:FurnitureFittings2023-12-31115201042023-12-3111520104core:LandBuildingscore:LeasedAssetsHeldAsLessee2024-01-012024-12-3111520104core:CurrentFinancialInstruments2024-12-3111520104core:CurrentFinancialInstruments2023-12-3111520104core:WithinOneYear2024-12-3111520104core:WithinOneYear2023-12-3111520104core:AfterOneYear2024-12-3111520104core:AfterOneYear2023-12-3111520104core:Non-currentFinancialInstruments2024-12-3111520104core:Non-currentFinancialInstruments2023-12-3111520104bus:PrivateLimitedCompanyLtd2024-01-012024-12-3111520104bus:SmallCompaniesRegimeForAccounts2024-01-012024-12-3111520104bus:FRS1022024-01-012024-12-3111520104bus:AuditExemptWithAccountantsReport2024-01-012024-12-3111520104bus:Director12024-01-012024-12-3111520104bus:FullAccounts2024-01-012024-12-31xbrli:purexbrli:sharesiso4217:GBP