WISETON_DEVELOPMENTS_LIMI - Accounts
WISETON_DEVELOPMENTS_LIMI - Accounts
Wiseton Developments Limited is a private company limited by shares incorporated in England and Wales. The registered office is Wiseton Hall, Wiseton, Doncaster, South Yorkshire, DN10 5AE.
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.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
The average monthly number of persons (including directors) employed by the company during the year was:
Other debtors of £1,724,919 (2020 - £1,555,193) is made up of £591,359 (2020 - £442,292) related party loans and £1,133,560 (2020 - £1,112,901) prepayment,
Other creditors of £6,604 (2020 - £6,196) is made up of £2,400 (2020 - £1,900) accruals, £100 (2020 - £200) connected company loans, £107 (2020 - £99) pension contributions due and £3,997 (2020 - £3,997) hire purchase.
Bank loans are secured by charges over the buildings at;
44 York Street, Mexborough, S64 9NP,
169 Snydale Road, Cudworth, Barnsley, S73 8LG,
84 South Drive, Bolton-Upon-Dearne, S63 8LE,
72 Doncaster Road, Goldthorpe, S63 9HU,
57 Dearne Road, Bolton-Upon-Dearne, S63 8JR,
55 Westfield Road, Hemsworth, WF9 4QG,
12 Broomhill View, Bolton-Upon-Dearne, S63 8LB,
22 Gosling Gate,Road, Goldthorpe,S63 9LU,
12 Flowitt Street, Mexborough, S64 9NN,
34 Ronald Road, Balby, Doncaster, DN4 0PG,
28 Schofield Street, Mexborough, S64 9NH
37 Chapel Street, Mexborough, S64 9RE,
57 Balby Road, Doncaster, DN4 0RD,
Flat 469 Galleon House, 8 St George Wharf London
Wheatley Mills, Milethorne Lane, Doncaster
Other creditors of £3,154,249 (2020 - £3,086,407) is made up of £3,151,585 (2020 - £3,079,746) directors loan account and £2,664 (2020 - £6,661) hire purchase.