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REGISTERED NUMBER: 01307331 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

WAYSEAL PROPERTY INVESTMENTS LIMITED

WAYSEAL PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 01307331)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


WAYSEAL PROPERTY INVESTMENTS LIMITED

COMPANY INFORMATION
for the year ended 31 DECEMBER 2023







DIRECTORS: D E M Thomas
C M L Perring





SECRETARY: C M L Perring





REGISTERED OFFICE: Lancaster House
Barrack Lane
Windsor
Berks
SL4 1HD





REGISTERED NUMBER: 01307331 (England and Wales)





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

WAYSEAL PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 01307331)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,444,952 1,444,952

CURRENT ASSETS
Debtors 5 163,632 166,012
Cash at bank 69,281 65,814
232,913 231,826
CREDITORS
Amounts falling due within one year 6 177,337 162,475
NET CURRENT ASSETS 55,576 69,351
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,500,528

1,514,303

PROVISIONS FOR LIABILITIES 7 87,170 86,993
NET ASSETS 1,413,358 1,427,310

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 1,413,258 1,427,210
SHAREHOLDERS' FUNDS 1,413,358 1,427,310

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.

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 14 August 2024 and were signed on its behalf by:



C M L Perring - Director


WAYSEAL PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 01307331)

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

1. STATUTORY INFORMATION

Wayseal Property Investments 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.

Turnover
Turnover represents rents receivable including accommodation charges to companies in the associated group in respect of the head office.

Tangible fixed assets
No depreciation has been provided in respect of freehold and leasehold property held for investment as the directors consider this policy is necessary for the financial statements to show a true and fair view.

Depreciation was provided at 10% p.a. based on original cost to write off fixtures and fittings over their anticipated useful lives.

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 taxation
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 NIL (2022 - NIL).

WAYSEAL PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 01307331)

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

4. TANGIBLE FIXED ASSETS
Freehold Fixtures
investment Long and
property leasehold fittings Totals
£    £    £    £   
COST OR VALUATION
At 1 January 2023
and 31 December 2023 974,952 470,000 13,993 1,458,945
DEPRECIATION
At 1 January 2023
and 31 December 2023 - - 13,993 13,993
NET BOOK VALUE
At 31 December 2023 974,952 470,000 - 1,444,952
At 31 December 2022 974,952 470,000 - 1,444,952

Cost or valuation at 31 December 2023 is represented by:

Freehold Fixtures
investment Long and
property leasehold fittings Totals
£    £    £    £   
Valuation in 2016 290,259 75,000 - 365,259
Valuation in 2017 168,591 - - 168,591
Cost 516,102 395,000 13,993 925,095
974,952 470,000 13,993 1,458,945

If freehold investment property had not been revalued it would have been included at the following historical cost:

31.12.23 31.12.22
£    £   
Cost 516,102 516,102

Freehold investment property was valued on a fair value basis on 31 December 2017 by R E Thomas, a director of the company .

If long leasehold had not been revalued it would have been included at the following historical cost:

31.12.2331.12.22
££
Cost395,000395,000
Long leasehold was valued on a fair value basis on 31 December 2017 by R E Thomas, a director of the company at the time.

WAYSEAL PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 01307331)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 750 3,321
Amounts owed by group undertakings 162,440 161,940
VAT - 751
Prepayments 442 -
163,632 166,012

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Amounts owed to group undertakings 60,240 50,859
Other creditors 3,163 3,345
Amount due to associated group 111,934 106,270
Accrued expenses 2,000 2,001
177,337 162,475

7. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred taxation 87,170 86,993

Deferred
tax
£   
Balance at 1 January 2023 86,993
Charge to Income Statement during year 177
Balance at 31 December 2023 87,170

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Shares £1 100 100

WAYSEAL PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 01307331)

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

9. RESERVES
Retained
earnings
£   

At 1 January 2023 1,427,210
Deficit for the year (13,952 )
At 31 December 2023 1,413,258

The above retained earnings contain non-distributable reserves of £432,418 made up as follows:

£
Revaluation of investment property and long leasehold to fair value533,849
Deferred tax on revaluation to fair value(101,431)
432,418

10. RELATED PARTY DISCLOSURES

During the year the company received accommodation charges in the sum of £Nil (2022 £18,000) from Wayseal Properties Limited.

11. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Wayseal Investments Limited registered in England, of which the ultimate controlling party is D E M Thomas.

Wayseal Investments Limited is also the immediate parent company, within the group, which will draw up consolidated financial statements.