Welford Properties Limited
Registered number: 04014199
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 442,701 442,868
Current assets
Debtors 4 75 72
Cash at bank and in hand 15,610 24,893
15,685 24,965
Creditors: amounts falling due within one year 5 (252,234) (245,500)
Net current liabilities (236,549) (220,535)
Net assets 206,152 222,333
Capital and reserves
Called up share capital 100,000 100,000
Profit and loss account 106,152 122,333
Shareholders' funds 206,152 222,333
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Vincenzo Sperandeo
Director
Approved by the board on 6 September 2023
Welford Properties Limited
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover comprises of rental income.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings 0%
Plant and machinery 15% reducing balance
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 July 2022 441,758 11,773 453,531
At 30 June 2023 441,758 11,773 453,531
Depreciation
At 1 July 2022 - 10,663 10,663
Charge for the year - 167 167
At 30 June 2023 - 10,830 10,830
Net book value
At 30 June 2023 441,758 943 442,701
At 30 June 2022 441,758 1,110 442,868
4 Debtors 2023 2022
£ £
Other debtors 75 72
5 Creditors: amounts falling due within one year 2023 2022
£ £
Corporation tax 2,804 2,661
Director's loan account 245,544 238,954
Other creditors 3,886 3,885
252,234 245,500
6 Other information
Welford Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
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