Company registration number 08662682 (England and Wales)
WAVERLEY EQUITY (PROPERTIES) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
The Granary
Hones Yard
1 Waverley Lane
Farnham
Surrey
GU9 8BB
WAVERLEY EQUITY (PROPERTIES) LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
WAVERLEY EQUITY (PROPERTIES) LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr P. Feibusch
Ms C. Moscati
Company number
08662682
Registered office
The Granary
Hones Yard
1 Waverley Lane
Farnham
Surrey
GU9 8BB
Accountants
TC Group
The Granary
Hones Yard
1 Waverley Lane
Farnham
Surrey
GU9 8BB
WAVERLEY EQUITY (PROPERTIES) LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
4
301
301
Current assets
Debtors
6
2,237,780
1,941,985
Cash at bank and in hand
1,295
4,649
2,239,075
1,946,634
Creditors: amounts falling due within one year
7
(1,520,098)
(1,252,651)
Net current assets
718,977
693,983
Total assets less current liabilities
719,278
694,284
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
719,178
694,184
Total equity
719,278
694,284
WAVERLEY EQUITY (PROPERTIES) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2023
31 March 2023
- 3 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

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

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

The financial statements were approved by the board of directors and authorised for issue on 12 October 2023 and are signed on its behalf by:
Mr P. Feibusch
Ms C. Moscati
Director
Director
Company Registration No. 08662682
The notes on pages 4 to 8 form part of these financial statements
WAVERLEY EQUITY (PROPERTIES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
1
Accounting policies
Company information

Waverley Equity (Properties) Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Granary, Hones Yard, 1 Waverley Lane, Farnham, Surrey, GU9 8BB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

WAVERLEY EQUITY (PROPERTIES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 5 -
Basic financial assets

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.

Classification of financial liabilities

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

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.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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.

WAVERLEY EQUITY (PROPERTIES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 6 -
2
Judgements and key sources of estimation uncertainty

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.

 

In the opinion of the directors there are no significant judgements or areas of estimation uncertainty.

 

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
4
Fixed asset investments
2023
2022
£
£
Investments
301
301
WAVERLEY EQUITY (PROPERTIES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
4
Fixed asset investments
(Continued)
- 7 -
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 April 2022 & 31 March 2023
301
Carrying amount
At 31 March 2023
301
At 31 March 2022
301
5
Subsidiaries

Details of the company's subsidiaries at 31 March 2023 are as follows:

Name of undertaking
Country of
Class of
% Held
incorporation
shares held
Direct
Indirect
Waverley Equity (Developments) Limited
UK
Ordinary
100.00
0
Waverley Equity (Dev 2) Limited
UK
Ordinary
100.00
-
Waverley Equity (Dev 4) Ltd
UK
Ordinary
76.00
-
Waverly Equity (Dev 5) Ltd
UK
Ordinary
100.00
-
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
185
369
Amounts owed by group undertakings
2,207,005
1,924,763
Other debtors
30,590
16,853
2,237,780
1,941,985
WAVERLEY EQUITY (PROPERTIES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 8 -
7
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
4,590
855
Amounts owed to group undertakings
11,838
2,312
Other creditors
1,155,567
961,201
Accruals and deferred income
348,103
288,283
1,520,098
1,252,651
8
Related party transactions

During the year, the company maintained loan accounts with entities under common control. At the year end, the company owed £11,838 (2022 - £2,312 ) to entities under common control. The company was also owed £2,207,005 (2022 - £1,931,672) by entities under common control.

9
Directors' transactions

The directors maintain loan accounts with the company. At the balance sheet date the company owed the directors £1,151,926 (2022 - £951,153 ).

2023-03-312022-04-01false12 October 2023CCH SoftwareCCH Accounts Production 2023.300No description of principal activityMr P. FeibuschMs C. Moscatifalse086626822022-04-012023-03-3108662682bus:Director12022-04-012023-03-3108662682bus:Director22022-04-012023-03-3108662682bus:RegisteredOffice2022-04-012023-03-31086626822023-03-31086626822022-03-3108662682core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3108662682core:CurrentFinancialInstrumentscore:WithinOneYear2022-03-3108662682core:CurrentFinancialInstruments2023-03-3108662682core:CurrentFinancialInstruments2022-03-3108662682core:ShareCapital2023-03-3108662682core:ShareCapital2022-03-3108662682core:RetainedEarningsAccumulatedLosses2023-03-3108662682core:RetainedEarningsAccumulatedLosses2022-03-31086626822021-04-012022-03-3108662682bus:PrivateLimitedCompanyLtd2022-04-012023-03-3108662682bus:SmallCompaniesRegimeForAccounts2022-04-012023-03-3108662682bus:FRS1022022-04-012023-03-3108662682bus:AuditExemptWithAccountantsReport2022-04-012023-03-3108662682bus:FullAccounts2022-04-012023-03-31xbrli:purexbrli:sharesiso4217:GBP