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REGISTERED NUMBER: 04385549 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 March 2023

for

WJ PROPERTY DEVELOPMENT LIMITED

WJ PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 04385549)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WJ PROPERTY DEVELOPMENT LIMITED

Company Information
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: B Wickenden
R James





SECRETARY: B Wickenden





REGISTERED OFFICE: Bath House
6-8 Bath Street
Bristol
BS1 6HL





REGISTERED NUMBER: 04385549 (England and Wales)





ACCOUNTANTS: Haines Watts
Chartered Accountants
Bath House
6 - 8 Bath Street
Bristol
BS1 6HL

WJ PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 04385549)

Balance Sheet
31 MARCH 2023

2023 2022
Notes £    £   
FIXED ASSETS
Investment property 4 390,000 390,000

CURRENT ASSETS
Cash at bank 15,106 10,030

CREDITORS
Amounts falling due within one year 5 (2,984 ) (2,126 )
NET CURRENT ASSETS 12,122 7,904
TOTAL ASSETS LESS CURRENT
LIABILITIES

402,122

397,904

PROVISIONS FOR LIABILITIES (15,950 ) (15,950 )
NET ASSETS 386,172 381,954

CAPITAL AND RESERVES
Called up share capital 6 100 100
Fair value reserve 139,345 139,345
Retained earnings 246,727 242,509
SHAREHOLDERS' FUNDS 386,172 381,954

WJ PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 04385549)

Balance Sheet - continued
31 MARCH 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 16 February 2024 and were signed on its behalf by:





B Wickenden - Director


WJ PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 04385549)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2023


1. COMPANY INFORMATION

WJ Property Development Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

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 on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit and loss account.

Cash and cash equivalents
Cash and cash equivalents 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.

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 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.

Basic financial assets
Basic financial assets, which include trade and other debtors, amounts due from group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

WJ PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 04385549)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

Basic financial liabilities
Basic financial liabilities, including trade and other creditors and amounts due to group undertakings 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. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 390,000
NET BOOK VALUE
At 31 March 2023 390,000
At 31 March 2022 390,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2017 139,345
Cost 250,655
390,000

WJ PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 04385549)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. INVESTMENT PROPERTY - continued

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 250,655 250,655

Investment property was valued on a fair value basis on 31 March 2023 by the directors of the company .

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Tax 888 -
Social security and other taxes 405 460
Directors' current accounts 10 10
Accrued expenses 1,681 1,656
2,984 2,126

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100