Wey Estates Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 01899792

Wey Estates Limited

Filleted Financial Statements

31 December 2024

Wey Estates Limited

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	6	72,021	84,704
Investments	7	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	8	( 3,795,554)		( 3,966,424)
		------------		------------
Net current assets			4,930,902	4,610,871
			------------	------------
Total assets less current liabilities			5,101,394	4,746,318

Creditors: amounts falling due after more than one year	9	( 1,877,187)	( 1,978,734)
		------------	------------
Net assets		3,224,207	2,767,584
		------------	------------

Capital and reserves

Called up share capital	2	2
Profit and loss account	3,224,205	2,767,582
	------------	------------
Shareholders funds	3,224,207	2,767,584
	------------	------------

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 statement of income and retained earnings 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 29 September 2025 , and are signed on behalf of the board by:

T H Sutcliffe

Director

Company registration number: 01899792

Wey Estates 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 the 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.

Going concern

The directors have made appropriate enquiries and having reviewed the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and to meet its obligations and settle its 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 preparing the company financial statements.

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 costs	-	20% straight line

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 initially 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 substance of the contractual agreement, 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.

Listed investments

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

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

	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
	---------	--------	--------	---------

6. Debtors

	2024	2023
	£	£
Trade debtors	4,025	1,883
Other debtors	67,996	82,821
	--------	--------
	72,021	84,704
	--------	--------

7. Investments

	2024	2023
	£	£
Other investments	3,529	5,987
	-------	-------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	110,613	106,467
Trade creditors	41,520	64,218
Amounts owed to group undertakings and undertakings in which the company has a participating interest	2,470,169	2,634,698
Social security and other taxes	164,546	103,131
Other creditors	1,008,706	1,057,910
	------------	------------
	3,795,554	3,966,424
	------------	------------

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

	2024	2023
	£	£
Bank loans and overdrafts	1,877,187	1,978,734
	------------	------------

The total amount of loans due in greater than 5 years is £nil (2023 - £nil)

The loan is repayable over 10 years with a capital only balloon repayment at the end of the 10 year period.

10. Secured debts

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 company.

11. Summary audit opinion

The auditor's report dated 29 September 2025 was unqualified .

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

12. Directors' advances, credits and guarantees

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

	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)	–
	-------	-------	----

13. Related party transactions

During the period, the company 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 company owed £746,231 (2023: £751,381) to the entity. The loan is interest free and repayable on demand. 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.

14. Controlling party

The company's ultimate parent and controlling party is Wey Holdings Limited, a company incorporated in England and Wales. The accounts are consolidated in the financial statements of Wey Holdings and copies of the financial statements are available from the registered office of the company which is 3 Tannery House, Tannery Lane, Send, Woking, GU23 7EF.