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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
Page
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Waterfield Homes Limited Company Information for the year ended 31 March 2023
Director
Mr M Conyers
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
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Waterfield Homes Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
3 
3 
Tangible assets
1,066 
1,420 
Investment property
27,340,000 
27,065,000 
Investments
- 
378,251 
27,341,069 
27,444,674 
Current assets
Debtors
1,997,216 
2,187,472 
Cash at bank and in hand
6,903 
3,832 
2,004,119 
2,191,304 
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 
Capital and reserves
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
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Waterfield Homes Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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 taxation
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
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
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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Waterfield Homes Limited Notes to the Accounts for the year ended 31 March 2023
4
Intangible fixed assets
Other 
£ 
Cost
At 1 April 2022
3 
At 31 March 2023
3 
Amortisation
At 1 April 2022
- 
At 31 March 2023
- 
Net book value
At 31 March 2023
3 
At 31 March 2022
3 
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 
Depreciation
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 
Net book value
At 31 March 2023
359 
707 
- 
1,066 
At 31 March 2022
479 
941 
- 
1,420 
6
Investment property
2023 
£ 
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 
Additions
58,735 
Disposals
(436,986)
Valuation at 31 March 2023
- 
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Waterfield Homes Limited Notes to the Accounts for the year ended 31 March 2023
8
Debtors
2023 
2022 
£ 
£ 
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 
1,997,216 
2,187,472 
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)
(266,955)
(83,494)
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).
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