Company registration number 13802992 (England and Wales)
WESSEX ESTATES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2024
PAGES FOR FILING WITH REGISTRAR
WESSEX ESTATES LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2
Notes to the financial statements
3 - 6
WESSEX ESTATES LIMITED
COMPANY INFORMATION
- 1 -
Director
Mr Z Ali
Company number
13802992
Registered office
2 West Borough
Wimborne
Dorset
United Kingdom
BH21 1NF
Accountants
Azets
37 Commercial Road
Poole
Dorset
BH14 0HU
WESSEX ESTATES LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2024
30 November 2024
- 2 -
30 November 2024
31 December 2023
Notes
£
£
£
£
Fixed assets
Investment property
3
849,780
849,780
Current assets
Debtors
4
1,284
100
Cash at bank and in hand
2,885
6,428
4,169
6,528
Creditors: amounts falling due within one year
5
(279,074)
(274,591)
Net current liabilities
(274,905)
(268,063)
Total assets less current liabilities
574,875
581,717
Creditors: amounts falling due after more than one year
6
(573,002)
(581,505)
Net assets
1,873
212
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
1,773
112
Total equity
1,873
212

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

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

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

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

The financial statements were approved and signed by the director and authorised for issue on 17 August 2025
Mr Z Ali
Director
Company Registration No. 13802992
WESSEX ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2024
- 3 -
1
Accounting policies
Company information

Wessex Estates Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2 West Borough, Wimborne, United Kingdom, BH21 1NF.

1.1
Reporting period

These accounts are for a period less than 12 months to align the year end to it’s associated companies. Therefore, the current year is not entirely comparable to the prior year.

1.2
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.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for 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.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.4
Investment property

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 and cash equivalents

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.

WESSEX ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.6
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 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.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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.

WESSEX ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies 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. Financial liabilities classified as payable within one year are not amortised.

 

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

 

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. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

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

2024
2023
Number
Number
Total
1
1
3
Investment property
2024
£
Fair value
At 1 January 2024 and 30 November 2024
849,780

The value of the investment property is included at cost value based on the purchase price upon completion on 28 July 2022.

4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
1,284
100
WESSEX ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 NOVEMBER 2024
- 6 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
12,527
14,844
Amounts owed to group undertakings
264,207
256,731
Other creditors
2,340
3,016
279,074
274,591
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
573,002
581,505

Within creditors due within and after one year, is a loan secured with fixed and floating charges over the assets of the company. The total outstanding balance of this loan at year end is £573,002 (2023: £581,505).

7
Called up share capital
2024
2023
Ordinary share capital
£
Number
£
Number
Issued and fully paid
Ordinary Shares of £1 each
100
100
100
100
8
Related party transactions

The company has an existing loan with a company with the same director. At the year end a balance of £264,207 (2023: £256,731) was outstanding being included in creditors: amounts falling due within one year.

 

The company had an existing loan with a company with the same director. At the year end a balance of £nil (2023: £3,000) was outstanding being included in creditors: amounts falling due within one year.

 

During the year, £100 (2023: £nil) was credited by a company with the same director. At the year end a balance of £100 (2023: £nil) was outstanding being included in debtors: amounts falling due within one year.

9
Directors' transactions

During the year, a total of £nil (2023: £nil) was advanced to and a total of £100 (2023: £nil) was credited by the directors in respect of their directors' current accounts. No interest was charged on this balance. At the balance sheet date the amount due from the directors was £nil (2023: £100).

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