Company Registration No. 04037642 (England and Wales)
Waterfield Homes Limited
Unaudited accounts
for the year ended 31 March 2023
Waterfield Homes Limited
Unaudited accounts
Contents
Waterfield Homes Limited
Company Information
for the year ended 31 March 2023
Company Number
04037642 (England and Wales)
Registered Office
Unit 3
Trafalgar Street
Plymouth
PL4 9AE
United Kingdom
Accountants
Sean Clarke Accountancy
7 Southbrook Road
Bovey Tracey
Devon
TQ13 9YZ
Waterfield Homes Limited
Statement of financial position
as at 31 March 2023
Tangible assets
1,066
1,420
Investment property
27,340,000
27,065,000
Debtors
1,997,216
2,187,472
Cash at bank and in hand
6,903
3,832
Creditors: amounts falling due within one year
266,955
83,494
Net current assets
2,271,074
2,274,798
Total assets less current liabilities
29,612,143
29,719,472
Creditors: amounts falling due after more than one year
(14,669,625)
(15,098,057)
Provisions for liabilities
Deferred tax
(2,672,745)
(2,620,495)
Net assets
12,269,773
12,000,920
Called up share capital
10
10
Profit and loss account
12,269,763
12,000,910
Shareholders' funds
12,269,773
12,000,920
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 26 February 2024 and were signed on its behalf by
Mr M Conyers
Director
Company Registration No. 04037642
Waterfield Homes Limited
Notes to the Accounts
for the year ended 31 March 2023
Waterfield Homes Limited is a private company, limited by shares, registered in England and Wales, registration number 04037642. The registered office is Unit 3, Trafalgar Street, Plymouth, PL4 9AE, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
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 accounts. 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 average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance
Fixtures & fittings
25% Reducing Balance
Computer equipment
3 Years Straight Line
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Waterfield Homes Limited
Notes to the Accounts
for the year ended 31 March 2023
4
Intangible fixed assets
Other
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2022
5,830
11,638
11,507
28,975
At 31 March 2023
5,830
11,638
11,507
28,975
At 1 April 2022
5,351
10,697
11,507
27,555
Charge for the year
120
234
-
354
At 31 March 2023
5,471
10,931
11,507
27,909
At 31 March 2023
359
707
-
1,066
At 31 March 2022
479
941
-
1,420
Fair value at 1 April 2022
27,065,000
Net gain from fair value adjustments
275,000
At 31 March 2023
27,340,000
Investment properties have been valued as at 30 June 2021 on the basis of their open market value with vacant possession, by the director M F Conyers Esq.
7
Investments
Other investments
Valuation at 1 April 2022
378,251
Valuation at 31 March 2023
-
Waterfield Homes Limited
Notes to the Accounts
for the year ended 31 March 2023
Amounts falling due within one year
Trade debtors
(10,891)
129,615
Amounts due from group undertakings etc.
1,666,227
1,716,031
Accrued income and prepayments
2,050
2,050
Other debtors
339,830
339,776
9
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
4,083
38,764
Trade creditors
278,392
13,356
Amounts owed to group undertakings and other participating interests
(112,888)
86,761
Taxes and social security
5,490
(1,373)
Other creditors
7,041
8,557
Loans from directors
(449,073)
(229,559)
10
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
14,669,625
15,098,057
11
Average number of employees
During the year the average number of employees was 0 (2022: 0).