Wey Holdings Limited Filleted accounts for Companies House (small only)

COMPANY REGISTRATION NUMBER: 01792483

Wey Holdings Limited

Filleted Financial Statements

31 December 2024

Wey Holdings Limited

Consolidated Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5		170,492	135,447

Current assets

Stocks		8,501,688	8,427,273
Debtors	7	72,021	84,704
Investments	8	3,529	5,987
Cash at bank and in hand		149,218	59,331
		------------	------------
		8,726,456	8,577,295

Creditors: amounts falling due within one year	9	( 2,275,598)		( 2,265,543)
		------------		------------
Net current assets			6,450,858	6,311,752
			------------	------------
Total assets less current liabilities			6,621,350	6,447,199

Creditors: amounts falling due after more than one year	10	( 3,018,498)	( 3,205,085)
		------------	------------
Net assets		3,602,852	3,242,114
		------------	------------

Capital and reserves

Called up share capital	300,002	300,002
Profit and loss account	3,302,850	2,942,112
	------------	------------
Shareholders funds	3,602,852	3,242,114
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the consolidated income statement has not been delivered.

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 were approved by the board of directors and authorised for issue on 30 September 2025 , and are signed on behalf of the board by:

T H Sutcliffe

Director

Company registration number: 01792483

Wey Holdings Limited

Company Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Investments	6		6	6

Current assets

Debtors	7	2,470,339		2,634,868

Creditors: amounts falling due within one year	9	( 949,263)		( 932,867)
		------------		------------
Net current assets			1,521,076	1,702,001
			------------	------------
Total assets less current liabilities			1,521,082	1,702,007

Creditors: amounts falling due after more than one year	10	( 1,141,311)	( 1,226,351)
		------------	------------
Net assets		379,771	475,656
		------------	------------

Capital and reserves

Called up share capital	300,002	300,002
Profit and loss account	79,769	175,654
	---------	---------
Shareholders funds	379,771	475,656
	---------	---------

The loss for the financial year of the parent company was £ 75,885 (2023: £ 67,433 ).

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

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 were approved by the board of directors and authorised for issue on 30 September 2025 , and are signed on behalf of the board by:

T H Sutcliffe

Director

Company registration number: 01792483

Wey Holdings Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office and principal place of business is Ground Floor, 3 Tannery House, Tannery Lane, Send, Woking, Surrey, GU23 7EF, United Kingdom. The principal activity of the company in that of property development.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest pound.

Going concern

The directors have made appropriate enquiries and having reviewed the company and group's forecasts and projections, the directors have a reasonable expectation that the company and group has adequate resources to continue in operational existence for the foreseeable future and to meet it's obligations and settle it's liabilities as they fall due for payment (at least 12 months from the date the accounts are approved and signed). The company therefore continues to adopt the going concern basis in in preparing the company financial statements.

Exemptions

The group qualifies as a small group and as such no cash flow statement has been prepared.

Consolidation

The financial statements consolidate the financial statements of Wey Holdings Limited and all of its subsidiary undertakings.

The results of subsidiaries acquired or disposed of during the year are included from or to the date that control passes.

The parent company has applied the exemption contained in section 408 of the Companies Act 2006 and has not presented its individual profit and loss account.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Revenue from sale of properties are recognised at the point of legal completion of the sale.

Rental income and related services charges from lettings are recognised on a time basis by reference to the agreements entered into and net of losses from voids.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	20% straight line
Office equipment	-	20% straight line
Motor vehicles	-	20% straight line
Computer cost	-	20% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks represent land held as trading stock, stated at directors' original valuation when the property was transferred from the parent company in the year ended 31 December 1998. New building developments and further development expenses are recognised at cost. Stock is subsequently measured at the lower of cost and net realisable value.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

Financial instruments are classified and accounted for, according to the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

Trade and other debtors

Trade and other debtors are initially recognised at the transaction price and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and bank overdrafts.

Trade and other creditors

Trade and other creditors are initially recognised at the transaction price and are thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it it becomes receivable.

Defined contribution pension plans

Contributions to defined contribution pension plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 5 (2023: 4 ).

5. Tangible assets

Group	Plant and machinery	Fixtures and fittings	Equipment	Total
	£	£	£	£
Cost
At 1 January 2024	589,145	53,756	25,767	668,668
Additions	78,788	7,831	3,476	90,095
	---------	--------	--------	---------
At 31 December 2024	667,933	61,587	29,243	758,763
	---------	--------	--------	---------
Depreciation
At 1 January 2024	458,555	49,932	24,734	533,221
Charge for the year	50,892	2,746	1,412	55,050
	---------	--------	--------	---------
At 31 December 2024	509,447	52,678	26,146	588,271
	---------	--------	--------	---------
Carrying amount
At 31 December 2024	158,486	8,909	3,097	170,492
	---------	--------	--------	---------
At 31 December 2023	130,590	3,824	1,033	135,447
	---------	--------	--------	---------

The company has no tangible assets.

6. Investments

The group has no investments.

Company	Shares in group undertakings
	£
Cost
At 1 January 2024 and 31 December 2024	6
	----
Impairment
At 1 January 2024 and 31 December 2024	–
	----

Carrying amount
At 1 January 2024 and 31 December 2024	6
	----
At 31 December 2023	6
	----

Subsidiaries, associates and other investments

Details of the investments in which the parent company has an interest of 20% or more are as follows:

	Class of share	Percentage of shares held
Subsidiary undertakings
Wey Estates Limited	Ordinary	100
Marshstar Limited	Ordinary	100
Tannery Studios Limited	Ordinary	100

The registered office of the above three subsidiary undertakings is that of the parent company and all subsidiaries above are included in the consolidated accounts.

7. Debtors

	Group		Company
	2024	2023	2024	2023
	£	£	£	£
Trade debtors	4,025	1,883	–	–
Amounts owed by group undertakings and undertakings in which the company has a participating interest	–	–	2,470,339	2,634,868
Other debtors	67,996	82,821	–	–
	--------	--------	------------	------------
	72,021	84,704	2,470,339	2,634,868
	--------	--------	------------	------------

8. Investments

	Group		Company
	2024	2023	2024	2023
	£	£	£	£
Other investments	3,529	5,987	–	–
	-------	-------	----	----

9. Creditors: amounts falling due within one year

	Group		Company
	2024	2023	2024	2023
	£	£	£	£
Bank loans and overdrafts	110,613	106,467	–	–
Trade creditors	41,521	64,218	–	–
Social security and other taxes	164,546	103,131	–	–
Other creditors	1,958,918	1,991,727	949,263	932,867
	------------	------------	---------	---------
	2,275,598	2,265,543	949,263	932,867
	------------	------------	---------	---------

10. Creditors: amounts falling due after more than one year

	Group		Company
	2024	2023	2024	2023
	£	£	£	£
Bank loans and overdrafts	1,877,187	1,978,734	–	–
Other creditors	1,141,311	1,226,351	1,141,311	1,226,351
	------------	------------	------------	------------
	3,018,498	3,205,085	1,141,311	1,226,351
	------------	------------	------------	------------

11. Secured debts and loan details

The total amount of bank loans due in greater than 5 years was £nil (2023 - £nil).The loan is repayable over 10 years with a capital only balloon repayment at the end of the 10 year period.

Included in other creditors is a loan amounting to £691,220 (2023: £650,000) which is due greater than 5 years and which is secured on a lease between group companies.

The bank loan included in creditors £1,987,800 (2023 - £2,085,201) is secured by a fixed charge over part of the property stock of the group.

12. Events after the end of the reporting period

On 12 February 2025 the company repurchased 2,463 of its own ordinary shares at a total cost of £73,929, including transaction costs. The shares were repurchased under the authority granted by the directors in a written resolution dated 15th January 2025.

13. Summary audit opinion

The auditor's report dated 30 September 2025 was unqualified .

The senior statutory auditor was Tim Hardy , for and on behalf of Moore Kingston Smith LLP .

14. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company and its subsidiary undertakings:

	2024
	Balance brought forward	Amounts repaid	Balance outstanding
	£	£	£
M G E Hamburger	–	–	–
	----	----	----

	2023
	Balance brought forward	Amounts repaid	Balance outstanding
	£	£	£
M G E Hamburger	3,000	( 3,000)	–
	-------	-------	----

15. Related party transactions

Group

During the period, the group repaid £5,155 (2023: £6,481),to an entity in which a director of the company is also a director of the entity. At the year end the group owed £746,231 (2023: £751,386) to the entity. The loan is interest free and repayable on demand.

Company

The company has taken advantage of the disclosure exemption available under Financial Reporting Standard 102 in respect of transactions with other wholly owned undertakings within the group.