IRIS Accounts Production v23.4.0.336 10942467 Board of Directors Board of Directors 1.1.23 31.12.23 31.12.23 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh109424672022-12-31109424672023-12-31109424672023-01-012023-12-31109424672021-09-30109424672021-10-012022-12-31109424672022-12-3110942467ns15:EnglandWales2023-01-012023-12-3110942467ns14:PoundSterling2023-01-012023-12-3110942467ns10:Director12023-01-012023-12-3110942467ns10:Director22023-01-012023-12-3110942467ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3110942467ns10:SmallEntities2023-01-012023-12-3110942467ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3110942467ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3110942467ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3110942467ns10:FullAccounts2023-01-012023-12-3110942467ns10:Director32023-01-012023-12-3110942467ns10:CompanySecretary12023-01-012023-12-3110942467ns10:RegisteredOffice2023-01-012023-12-3110942467ns5:CurrentFinancialInstruments2023-12-3110942467ns5:CurrentFinancialInstruments2022-12-3110942467ns5:Non-currentFinancialInstruments2023-12-3110942467ns5:Non-currentFinancialInstruments2022-12-3110942467ns5:ShareCapital2023-12-3110942467ns5:ShareCapital2022-12-3110942467ns5:FurtherSpecificReserve3ComponentTotalEquity2023-12-3110942467ns5:FurtherSpecificReserve3ComponentTotalEquity2022-12-3110942467ns5:RetainedEarningsAccumulatedLosses2023-12-3110942467ns5:RetainedEarningsAccumulatedLosses2022-12-3110942467ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3110942467ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3110942467ns5:RetainedEarningsAccumulatedLosses2022-12-3110942467ns5:FurtherSpecificReserve3ComponentTotalEquity2022-12-3110942467ns5:RetainedEarningsAccumulatedLosses2023-01-012023-12-31
REGISTERED NUMBER: 10942467 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

WF PEARCE PROPERTIES LIMITED

WF PEARCE PROPERTIES LIMITED (REGISTERED NUMBER: 10942467)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WF PEARCE PROPERTIES LIMITED

COMPANY INFORMATION
for the year ended 31 DECEMBER 2023







DIRECTORS: W D Pearce
J R Pearce
S Pearce





SECRETARY: I Pearce





REGISTERED OFFICE: The Barn
Upper Hyde End Farm
Hyde End Lane, Brimpton
Reading
Berks
RG7 4RJ





REGISTERED NUMBER: 10942467 (England and Wales)





ACCOUNTANTS: C B Heslop And Company Limited
Chartered Accountants
1 High Street
Thatcham
Berks
RG19 3JG

WF PEARCE PROPERTIES LIMITED (REGISTERED NUMBER: 10942467)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,600,000 1,605,000

CURRENT ASSETS
Debtors 5 148 -
Cash at bank and in hand 50,388 66,787
50,536 66,787
CREDITORS
Amounts falling due within one year 6 5,841 10,501
NET CURRENT ASSETS 44,695 56,286
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,644,695

1,661,286

CREDITORS
Amounts falling due after more than one
year

7

(1,116,162

)

(1,145,133

)

PROVISIONS FOR LIABILITIES (83,131 ) (59,080 )
NET ASSETS 445,402 457,073

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 8 354,402 442,533
Retained earnings 8 90,900 14,440
445,402 457,073

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

WF PEARCE PROPERTIES LIMITED (REGISTERED NUMBER: 10942467)

BALANCE SHEET - continued
31 DECEMBER 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 March 2024 and were signed on its behalf by:




J R Pearce - Director



W D Pearce - Director


WF PEARCE PROPERTIES LIMITED (REGISTERED NUMBER: 10942467)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 DECEMBER 2023

1. STATUTORY INFORMATION

Wf Pearce Properties 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - NIL ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 1,605,000
Revaluations (5,000 )
At 31 December 2023 1,600,000
NET BOOK VALUE
At 31 December 2023 1,600,000
At 31 December 2022 1,605,000

WF PEARCE PROPERTIES LIMITED (REGISTERED NUMBER: 10942467)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 DECEMBER 2023

4. INVESTMENT PROPERTY - continued

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2018 13,534
Valuation in 2020 53,051
Valuation in 2021 65,000
Valuation in 2022 310,947
Valuation in 2023 (5,000 )
Cost 1,162,468
1,600,000

One of the investment properties was purchased in 2017 for £265,000. The above valuation includes capital expenditure totalling £86,466.

Another was purchased in 2020 for £316,948 which was subsequently developed and includes land for a new build.

A further investment property was purchased and developed in 2021 for £105,650. The above valuation includes capital expenditure of £388,404.

The above valuation also includes revaluations performed on 31 December 2023 to open market values totalling £437,532.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 148 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Taxation and social security 3,980 9,003
Other creditors 1,861 1,498
5,841 10,501

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans - 50,000
Amounts owed to group undertakings 116,587 126,587
Other creditors 999,575 968,546
1,116,162 1,145,133

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 50,000

WF PEARCE PROPERTIES LIMITED (REGISTERED NUMBER: 10942467)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 DECEMBER 2023

8. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 January 2023 14,440 442,533 456,973
Deficit for the year (11,671 ) (11,671 )
Gains/(losses) on revaluation 88,131 (88,131 ) -
At 31 December 2023 90,900 354,402 445,302

9. CONTINGENT LIABILITIES

There were no contingent liabilities at the balance sheet date or at 31 December 2022.

10. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed the directors the following amounts;
W D Pearce & Mrs S Pearce £500,498 (2022 : £484,736) J R Pearce £499,077 (2022 : £483,810)
These balances are shown within other creditors, amounts falling due after more than one year.

Included within creditors at the balance sheet date is an amount of £116,587 (2022 : £126,587) owing to W.F. Pearce & Co Limited, a company also controlled by the directors.

During the year purchases of goods and labour totalling £Nil (2022 : £13,935) were acquired from W.F. Pearce & Co Limited.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is considered to be the directors by virtue of their share capital.