Warley Engineering & Developments Limited iXBRL

Warley Engineering & Developments Limited

Unaudited Financial Statements

for the financial year ended 31 March 2026

Warley Engineering & Developments Limited

Directors and Other Information


Directors	Mr T Mallard
	Mrs V Y A Blount
	Mr A Blount (Resigned 25 September 2025)
	Mrs A Williams (Appointed 25 September 2025)
	Mr J A Blount (Appointed 25 September 2025)


Company Secretary	Mrs V Y A Blount


Company Registration Number	02225988


Registered Office	34 Boulevard
	Weston-super-Mare
	North Somerset
	BS23 1NF
	England


Business Address	12 Quarry Way
	Emersons Green
	Bristol
	BS16 7BN
	England


Accountants	Four Fifty Partnership
	Chartered Accountants
	34 Boulevard
	Weston-super-Mare
	Somerset
	BS23 1NF
	United Kingdom

Warley Engineering & Developments Limited

Company Registration Number: 02225988

Balance Sheet

as at 31 March 2026

		2026	2025
	Notes	£	£

Fixed Assets

Investment properties

1,165,000

1,165,000

─────────

Current Assets

Debtors

725,558

830,962

Investments

1,180,777

1,071,817

Cash at bank and in hand

169,348

106,801

─────────

2,075,683

2,009,580

─────────

Creditors: amounts falling due within one year

(42,733)

(41,226)

─────────

Net Current Assets

2,032,950

1,968,354

─────────

Total Assets less Current Liabilities

3,197,950

3,133,354

Provisions for liabilities

(285,778)

(258,538)

─────────

Net Assets

2,912,172

2,874,816

═════════

Capital and Reserves

Called up share capital

352,000

352,000

Revaluation reserve

1,243,048

1,161,328

Retained earnings

1,317,124

1,361,488

─────────

Shareholders' Funds

2,912,172

2,874,816

═════════

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).

The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.

For the financial year ended 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.

Approved by the Board and authorised for issue on 31 August 2026 and signed on its behalf by




________________________________
Mrs V Y A Blount
Director

Warley Engineering & Developments Limited

Notes to the Financial Statements

for the financial year ended 31 March 2026

General Information

Warley Engineering & Developments Limited is a company limited by shares incorporated and registered in the England and Wales.

The registered number of the company is 02225988.

The registered office of the company is 34 Boulevard, Weston-super-Mare, North Somerset, BS23 1NF, England

The financial statements have been presented in Pound (£) which is also the functional currency of the company.

Summary of Significant Accounting Policies

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

Statement of compliance

The financial statements of the company for the financial year ended 31 March 2026 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.

Turnover

Turnover represents rental income and service charges from the investment property owned by the company. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:

The amount of revenue can be reliably measured;

it is probable that future economic benefits will flow to the entity;

and specific criteria have been met for each of the company's activities.

Other operating income represents electricity income derived from solar panels affixed to the investment property owned by the company.

Reserves

The directors have elected to separately disclose the non-distributable element of the profit and loss reserve created by fair value adjustments as a revaluation reserve within the financial statements.

Investment properties

Investment property is property held either to earn rental income, or for capital appreciation (including future re-development) or for both, but not for sale in the ordinary course of business.

Investment property is initially measured at cost, which includes the purchase cost and any directly attributable expenditure. Investment property is subsequently valued at its fair value at each reporting date, by professional external valuers. The difference between the fair value of an investment property at the reporting date and its carrying value prior to the valuation is recognised in the Profit and Loss Account as a fair value gain or loss. Any gain or loss on disposal of an investment property (calculated as the difference between the net proceeds from disposal and the carrying amount of the item) is recognised in the Profit and Loss Account.

Investments

Investments in equity shares which are publicly traded or where the fair value can be

measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Trade and other debtors

Trade debtors are amounts due from customers for rental income and electricity sold in the ordinary course of business.

Trade and other debtors are initially recognised at fair value 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 losses for bad and doubtful debts.

Cash at bank and in hand

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the Balance Sheet bank overdrafts are shown within Creditors.

Provisions

Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.

Trade and other creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Taxation and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income. Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial Instruments

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

Share capital of the company

Ordinary share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Preference share capital

The dividend rights of the preference shares are non-cumulative and payment is at the discretion of the company. The preference shares carry voting rights at meetings. Based on their characteristics the preference shares are considered to be presented as equity and not liabilities. There is no option to redeem the preference shares.

Employees

The average monthly number of employees, including directors, during the financial year was:

2026

2025

Number

Number

Employees

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4.	Investment Properties
		Investment
		properties

		£
	Cost

	At 31 March 2026	1,165,000
		─────────
	Net book value
	At 31 March 2026	1,165,000
		═════════
	At 31 March 2025	1,165,000
		═════════

Investment property note

The fair value of the investment property has been determined by an independent in May 2023. The directors do not believe the fair value of the investment property to be materially different at the balance sheet date.

If the property had not been revalued, the original cost would be shown as £205,331 (2025 - £205,331).


6.	Debtors	2026	2025
		£	£

	Trade debtors	17,099	2,464
	Other debtors	365,144	316,003
	Directors' current accounts (Note 12)	342,856	509,260
	Prepayments and accrued income	459	3,235
		─────────	─────────
		725,558	830,962
		═════════	═════════


7.	Investments	2026	2025
		£	£

	Listed investments	1,180,777	1,071,817
		═════════	═════════

Current asset investment note

Current asset investments have increased in value during the year by £108,960. This is due to an increase in the quoted market value of the investments at the balance sheet date.

If current asset investments had not been revalued, they would have a cost price at the balance sheet date of £611,620 (2025 - £611,620).


9.	Creditors	2026	2025
	Amounts falling due within one year	£	£

	Trade creditors	-	124
	Taxation	35,608	28,871
	Other creditors	4,125	9,231
	Accruals	3,000	3,000
		─────────	─────────
		42,733	41,226
		═════════	═════════

10.

Provisions for liabilities

The amounts provided for deferred taxation are analysed below:

Property

Total

revaluations

2026

2025

At financial year start

258,538

252,619

Charged to profit and loss

27,240

5,919

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At financial year end

285,778

258,538

═════════


11.	Share capital	2026	2025
		£	£

	Ordinary shares of £1 each	1,000	1,000
	A preference shares of £1 each	350,000	350,000
	B preference shares of £1 each	1,000	1,000
		─────────	─────────
		352,000	352,000
		═════════	═════════

12.

Directors' advances, credits and guarantees

Mrs V Blount (director)

As at the balance sheet date, the director owed the company £318,482 (2025 - £311,389) which is repayable on demand.

The company considers this loan as being interest free.

Mr A Blount (ex-director)

As at the balance sheet date, Mr A Blount owed the company £202,693 (2025 - £197,870) which is repayable on demand.

The company considers this loan as being interest free.

Mrs A Williams (director)

As at the balance sheet date, the director owed the company £24,374 (2025 - £23,493) which is repayable on demand.

Interest has been provided on this loan at a rate of 3.75% per annum.

Two of the loans are provided to trusts for the benefit of close family members of the directors and are not being charged interest. These loans have therefore been discounted as required by accounting standards FRS102. The balance on these loans is £4,103 (2025 - £37,530).

The company has paid section 455 tax on all outstanding loan balances not cleared within 9 months of the year end.

Another loan was provided to a company under the control of two directors of Warley Engineering & Developments Limited. This loan was interest free and repayable on demand. This company entered liquidation on 5 June 2026 and the balance owed of £100,000 has been treated as a bad debt within the reporting period.