REGISTERED NUMBER: 00739136 (England and Wales)

Unaudited Financial Statements

For The Year Ended 28 February 2025

for

Wallsend Estates Limited

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

6,203,206

5,554,901

Investments

6

25,273

31,303

6,228,479

5,586,204

CURRENT ASSETS

Stocks

1,706,504

1,614,249

Debtors

7

1,293,386

1,334,999

Cash at bank

4,388,129

4,334,700

7,388,019

7,283,948

CREDITORS

Amounts falling due within one year

8

2,882,292

2,324,761

NET CURRENT ASSETS

4,505,727

4,959,187

TOTAL ASSETS LESS CURRENT LIABILITIES

10,734,206

10,545,391

PROVISIONS FOR LIABILITIES

184,204

200,153

NET ASSETS

10,550,002

10,345,238

CAPITAL AND RESERVES

Called up share capital

100,000

100,000

Retained earnings

10,450,002

10,245,238

SHAREHOLDERS' FUNDS

10,550,002

10,345,238

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 November 2025 and were signed on its behalf by:

P C Langmaid - Director

1.	STATUTORY INFORMATION

Wallsend Estates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

00739136

Registered office:

Harscombe House

1 Darklake View

Plymouth

Devon

PL6 7TL

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover primarily represents the amount receivable from Mother Ivey's Bay and Martha's Orchard holiday park operations net of any associated value added tax.

Revenue recognition on the sale of caravans

Caravan sales are included in turnover at the date at which they are invoiced.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of three years.

Goodwill was fully amortised in the accounts for the year ended 28 February 2015.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the depreciable amount of each asset over its estimated useful economic life. The depreciable amount of each asset is calculated on a straight line basis as follows:

Freehold land

- nil

Freehold buildings

- nil

Plant and machinery

- 4 years

Fixtures and fittings

- 4 years

Lodges

- 10 years up to 75% of the value of the asset

The lodges are depreciated over 10 years up to 75% of the value of the asset, with the remaining 25% being the residual value.

The directors consider that, given the nature of the properties held and the policy of maintaining them to their original condition, the economic lives of these properties and their residual values are such that any depreciation charge would not be material. Residual values are regularly reviewed in order to identify any impairment in value that could lead to changes in the depreciable amount.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Basic financial instruments are recognised at amortised cost.

Investments in listed ordinary shares which are measured at fair value, with changes recognised in profit or loss. Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2024 - 30 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 March 2024

and 28 February 2025

160,000

AMORTISATION

At 1 March 2024

and 28 February 2025

160,000

NET BOOK VALUE

At 28 February 2025

-

At 29 February 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 March 2024

5,042,666

1,587,995

6,630,661

Additions

752,350

115,751

868,101

Disposals

-

(147,061

)

(147,061

)

At 28 February 2025

5,795,016

1,556,685

7,351,701

DEPRECIATION

At 1 March 2024

-

1,075,760

1,075,760

Charge for year

-

178,590

178,590

Eliminated on disposal

-

(105,855

)

(105,855

)

At 28 February 2025

-

1,148,495

1,148,495

NET BOOK VALUE

At 28 February 2025

5,795,016

408,190

6,203,206

At 29 February 2024

5,042,666

512,235

5,554,901

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 March 2024

31,303

Revaluations

(6,030

)

At 28 February 2025

25,273

NET BOOK VALUE

At 28 February 2025

25,273

At 29 February 2024

31,303

Cost or valuation at 28 February 2025 is represented by:

Other

investments

£

Valuation in 2017

(6,973

)

Valuation in 2018

13,531

Valuation in 2019

(5,361

)

Valuation in 2020

(8,040

)

Valuation in 2021

(6,700

)

Valuation in 2022

13,400

Valuation in 2023

(6,700

)

Valuation in 2024

(32,160

)

Valuation in 2025

(6,030

)

Cost

70,306

25,273

Unlisted shares of £4,503 are held at historical cost. Listed shares of £20,770 are held at market value, the historical cost of these shares is £65,803.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Trade debtors

1,132,808

1,142,822

Other debtors

160,578

192,177

1,293,386

1,334,999

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Trade creditors

2,352,254

2,072,673

Taxation and social security

393,133

144,369

Other creditors

136,905

107,719

2,882,292

2,324,761

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

28.2.25

29.2.24

£

£

Within one year

17,300

17,300

Between one and five years

12,975

30,274

30,275

47,574