Company No:
Contents
DIRECTORS | Ann Wingrove Hallett |
Matthew Charles Wingrove Hallett |
SECRETARY | Claudia Maurer-Hallett |
REGISTERED OFFICE | Mountfields |
Shepton Beauchamp | |
Ilminster | |
TA19 0JT | |
United Kingdom |
COMPANY NUMBER | 00668472 (England and Wales) |
CHARTERED ACCOUNTANTS | Albert Goodman LLP |
Goodwood House | |
Blackbrook Park Avenue | |
Taunton | |
Somerset | |
TA1 2PX |
Note | 2022 | 2021 | ||
£ | £ | |||
Fixed assets | ||||
Intangible assets | 3 |
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Tangible assets | 4 |
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Investments | 5 |
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1,736,420 | 1,654,694 | |||
Current assets | ||||
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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880,367 | 705,334 | |||
Creditors: amounts falling due within one year | 7 | (
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Net current assets | 483,145 | 357,782 | ||
Total assets less current liabilities | 2,219,565 | 2,012,476 | ||
Creditors: amounts falling due after more than one year | 8 | (
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Provision for liabilities | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Walronds Park Limited (registered number:
Matthew Charles Wingrove Hallett
Director |
Ann Wingrove Hallett
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Walronds Park Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Mountfields, Shepton Beauchamp, Ilminster, TA19 0JT, United Kingdom.
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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.
Other operating income comprises net rents receivable and the receipt of government grants. Rents receivable are recognised on an accrual basis and government grants are recognised in the period to which the government grant relates.
Net rent receivable of £120,285 presented within 'other operating income' comprises rental income of £284,928 (2021: £237,030) and rental expenses of £164,643 (2021: £164,953).
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Entitlements |
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Land and buildings |
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Plant and machinery |
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Vehicles |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Fixed asset investments comprise of non listed investments and are all stated at cost less impairment.
2022 | 2021 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Entitlements | Total | ||
£ | £ | ||
Cost | |||
At 01 October 2021 |
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At 30 September 2022 |
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Accumulated amortisation | |||
At 01 October 2021 |
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Charge for the financial year |
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At 30 September 2022 |
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Net book value | |||
At 30 September 2022 |
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At 30 September 2021 |
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Land and buildings | Plant and machinery | Vehicles | Total | ||||
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Cost | |||||||
At 01 October 2021 |
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Additions |
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Disposals |
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At 30 September 2022 |
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Accumulated depreciation | |||||||
At 01 October 2021 |
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Charge for the financial year |
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Disposals |
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At 30 September 2022 |
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Net book value | |||||||
At 30 September 2022 |
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At 30 September 2021 |
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Other investments | Total | ||
£ | £ | ||
Carrying value before impairment | |||
At 01 October 2021 |
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Additions |
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At 30 September 2022 |
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Provisions for impairment | |||
At 01 October 2021 |
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At 30 September 2022 |
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Carrying value at 30 September 2022 |
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Carrying value at 30 September 2021 |
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2022 | 2021 | ||
£ | £ | ||
Trade debtors |
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Amounts owed by directors |
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VAT recoverable |
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Other debtors |
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2022 | 2021 | ||
£ | £ | ||
Trade creditors |
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Amounts owed to directors |
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Accruals and deferred income |
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Corporation tax |
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Other taxation and social security |
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Obligations under finance leases and hire purchase contracts (secured) |
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Other creditors |
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2022 | 2021 | ||
£ | £ | ||
Other creditors |
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Transactions with the entity's directors
Advances
At 1 October 2021, the balance owed by M C W Hallett was £6,606. During the year, £28,035 was advanced to the director, and £36,163 was repaid by the director. At 30 September 2022, the balance owed to the director was £1,522.
At 1 October 2021, the balance owed by A W Hallett was £103,254. During the year, £0 was advanced to the director, and £0 was repaid by the director. At 30 September 2022, the balance owed by the director was £103,254.
Other related party transactions
A W Hallett is a settlor and M C W Hallett is a trustee in the Hallett Hallett Family 2017 Trust. At the Balance Sheet date the Hallett Family 2017 Trust owes Walronds Park Ltd £41,829 (2021: £32,201). No interest is charged on this loan.
A W Hallett is a settlor and M C W Hallett is a trustee in the Ann Wingrove Hallett Trust. At the Balance Sheet date the Ann Wingrove Hallett Trust owes Walronds Park Ltd £1,890 (2021: £600). No interest is charged on this loan.
A W Hallett is a settlor and M C W Hallett is a trustee in the Walronds Park 2011 Trust. At the balance sheet date the Walronds Park 2011 Trust owes Walronds park Ltd £29,877 (2021: £0). No interest is charged on this loan.