Registered number
03089447
Wecks Property Holdings Limited
Unaudited Filleted Accounts
31 July 2023
Wecks Property Holdings Limited
Registered number: 03089447
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 900,001 900,001
Current assets
Debtors 4 87,157 85,180
Cash at bank and in hand 12,983 76,840
100,140 162,020
Creditors: amounts falling due within one year 5 (9,810) (77,703)
Net current assets 90,330 84,317
Total assets less current liabilities 990,331 984,318
Creditors: amounts falling due after more than one year 6 (158,152) (158,152)
Provisions for liabilities deferred tax (118,480) (118,480)
Net assets 713,699 707,686
Capital and reserves
Called up share capital 100 100
Fair value reserve (revaluation) 8 505,093 505,093
Profit and loss account 208,506 202,493
Shareholders' funds 713,699 707,686
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M Sexton
Director
Approved by the board on 28 March 2024
Wecks Property Holdings Limited
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents rent receivable.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings nil (long leases)
Plant and machinery 33% per annum
Investments
Investment properties are initially recorded at cost and any directly attributable expenditure.

Investment properties whose fair value can be measured reliably are measured at fair value. The gain or loss on revaluation is recognised in the Statement of Comprehensive Income in the period in which it arises. Such gains or losses are shown in a non-distributable fair value reserve net of any related deferred taxation.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Investment property Plant and machinery etc Total
£ £ £
Cost / revaluation - (Fair value)
At 1 August 2022 900,000 12,850 912,850
At 31 July 2023 900,000 12,850 912,850
Depreciation
At 1 August 2022 - 12,849 12,849
At 31 July 2023 - 12,849 12,849
Net book value
At 31 July 2023 900,000 1 900,001
At 31 July 2022 900,000 1 900,001
The land and buildings were valued by the directors in a previous year at their best estimate based on comparable information available. The directors do not consider the value has materially changed in the current year.
4 Debtors 2023 2022
£ £
Other debtors 87,157 85,180
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 4,373 72,472
Other creditors 5,437 5,231
9,810 77,703
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 158,152 158,152
7 Loans 2023 2022
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 158,152 158,152
Secured bank loans 158,152 158,152
Charges are held against the properties over monies due to lenders.
8 Fair value reserve (revaluation) 2023 2022
£ £
At start of year 623,573 1,005,257
Released on disposal - (381,684)
Deferred taxation arising on the revaluation of land and buildings (118,480) (118,480)
At end of year 505,093 505,093
9 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
M D Sexton
Loan with interest of 2.25% 21,893 492 - 22,385
N H Cain
Loan with interest of 2.25% 21,893 492 - 22,385
D S Kantor
Loan with interest of 2.25% 21,893 492 - 22,385
65,679 1,476 - 67,155
10 Other information
Wecks Property Holdings Limited is a private company limited by shares and incorporated in England. Its registered office is:
C/O Cowen Suite
Kinetic Centre
Theobald Street
Borehamwood, Herts.
WD6 4PJ
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