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REGISTERED NUMBER: 04184854 (England and Wales)























Unaudited Financial Statements

for the Period 1 April 2022 to 30 March 2023

for

WFB Properties Limited

WFB Properties Limited (Registered number: 04184854)

Contents of the Financial Statements
for the Period 1 April 2022 to 30 March 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


WFB Properties Limited

Company Information
for the Period 1 April 2022 to 30 March 2023







DIRECTOR: Ms C M Beaumont





REGISTERED OFFICE: 130 Allport Road
Bromborough
Wirral
Merseyside
CH62 6BB





REGISTERED NUMBER: 04184854 (England and Wales)





ACCOUNTANTS: McDade Roberts Accountants Limited
BTC House
Chapel Hill
Longridge
Preston
Lancashire
PR3 3JY

WFB Properties Limited (Registered number: 04184854)

Statement of Financial Position
30 March 2023

30.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,824 5,567
Investment property 5 449,296 276,123
455,120 281,690

CURRENT ASSETS
Stocks 161,249 198,507
Debtors 6 12,086 53,547
Cash at bank and in hand 90,125 205,451
263,460 457,505
CREDITORS
Amounts falling due within one year 7 463,589 435,342
NET CURRENT (LIABILITIES)/ASSETS (200,129 ) 22,163
TOTAL ASSETS LESS CURRENT
LIABILITIES

254,991

303,853

CREDITORS
Amounts falling due after more than one
year

8

(23,400

)

(35,000

)

PROVISIONS FOR LIABILITIES (1,107 ) (1,058 )
NET ASSETS 230,484 267,795

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 230,384 267,695
SHAREHOLDERS' FUNDS 230,484 267,795

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 March 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

WFB Properties Limited (Registered number: 04184854)

Statement of Financial Position - continued
30 March 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 March 2024 and were signed by:





Ms C M Beaumont - Director


WFB Properties Limited (Registered number: 04184854)

Notes to the Financial Statements
for the Period 1 April 2022 to 30 March 2023


1. STATUTORY INFORMATION

WFB 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.

Revenue
Revenue represents rents receivable and sales of properties acquired for resale, excluding value added tax.

Rents receivable comprises the aggregate of the net fair value of rental services provided. Revenue is recognised as those services that are provided to tenants.

Sales of properties are recognised on the exchange date of irrevocable contracts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 33% on cost

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.

Stocks
Stock represents property acquired with a view to resale in the future valued at cost plus associated costs incurred or, if lower, net realisable value. Cost represents actual purchase price.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.


WFB Properties Limited (Registered number: 04184854)

Notes to the Financial Statements - continued
for the Period 1 April 2022 to 30 March 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 4,900 3,911 3,668 8,452 20,931
Additions - - - 1,291 1,291
At 30 March 2023 4,900 3,911 3,668 9,743 22,222
DEPRECIATION
At 1 April 2022 - 3,911 3,585 7,868 15,364
Charge for period - - 41 993 1,034
At 30 March 2023 - 3,911 3,626 8,861 16,398
NET BOOK VALUE
At 30 March 2023 4,900 - 42 882 5,824
At 31 March 2022 4,900 - 83 584 5,567

WFB Properties Limited (Registered number: 04184854)

Notes to the Financial Statements - continued
for the Period 1 April 2022 to 30 March 2023


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 276,123
Additions 173,173
At 30 March 2023 449,296
NET BOOK VALUE
At 30 March 2023 449,296
At 31 March 2022 276,123

Investment properties are held for rentals and capital appreciation.

The fair value of the investment property has been determined by the directors following acquisition based on knowledge of the area and marketplace.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.3.23 31.3.22
£    £   
Trade debtors 5,416 315
Other debtors 6,670 53,232
12,086 53,547

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.3.23 31.3.22
£    £   
Bank loans and overdrafts 10,800 10,000
Trade creditors 5,787 979
Taxation and social security 513 441
Other creditors 446,489 423,922
463,589 435,342

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.3.23 31.3.22
£    £   
Bank loans 23,400 35,000

9. SECURED DEBTS

The UK Government have provided a 100% guarantee on the Bounce Back Loan Scheme (BBLS), borrowings obtained from Lloyds Bank PLC.

WFB Properties Limited (Registered number: 04184854)

Notes to the Financial Statements - continued
for the Period 1 April 2022 to 30 March 2023


10. RELATED PARTY DISCLOSURES

During the period, total dividends of £2,000 were paid to the directors .