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REGISTERED NUMBER: 01268239 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

WAYSEAL PROPERTIES LIMITED

WAYSEAL PROPERTIES LIMITED (REGISTERED NUMBER: 01268239)






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 PROPERTIES 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: 01268239 (England and Wales)





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

WAYSEAL PROPERTIES LIMITED (REGISTERED NUMBER: 01268239)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 2,501 3,126

CURRENT ASSETS
Debtors 5 3,258,127 3,343,026
Cash at bank 38,829 14,961
3,296,956 3,357,987
CREDITORS
Amounts falling due within one year 6 472,692 482,757
NET CURRENT ASSETS 2,824,264 2,875,230
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,826,765

2,878,356

PROVISIONS FOR LIABILITIES 7 453 566
NET ASSETS 2,826,312 2,877,790

CAPITAL AND RESERVES
Called up share capital 8 100,000 100,000
Retained earnings 9 2,726,312 2,777,790
SHAREHOLDERS' FUNDS 2,826,312 2,877,790

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 PROPERTIES LIMITED (REGISTERED NUMBER: 01268239)

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

1. STATUTORY INFORMATION

Wayseal 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.

Turnover
Turnover represents the proceeds of sales and project charges during the accounting period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office furniture and equipment - 25% on reducing balance

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 PROPERTIES LIMITED (REGISTERED NUMBER: 01268239)

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

4. PROPERTY, PLANT AND EQUIPMENT
Office
furniture
and
equipment
£   
COST
At 1 January 2023
and 31 December 2023 72,932
DEPRECIATION
At 1 January 2023 69,806
Charge for year 625
At 31 December 2023 70,431
NET BOOK VALUE
At 31 December 2023 2,501
At 31 December 2022 3,126

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Amounts owed by group undertakings 3,245,725 3,329,267
Other debtors - 5,177
Due from associated group 9,994 4,330
VAT 2,408 3,090
Prepayments - 1,162
3,258,127 3,343,026

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Amounts owed to group undertakings 470,658 478,722
Tax 34 34
Social security and other taxes - 1,081
Other creditors - 500
Accrued expenses and income received in
advance

2,000

2,420
472,692 482,757

7. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 453 566

WAYSEAL PROPERTIES LIMITED (REGISTERED NUMBER: 01268239)

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

7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2023 566
Credit to Income Statement during year (113 )
Balance at 31 December 2023 453

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100,000 Ordinary £1 100,000 100,000

9. RESERVES
Retained
earnings
£   

At 1 January 2023 2,777,790
Deficit for the year (19,755 )
Dividends (31,723 )
At 31 December 2023 2,726,312

10. RELATED PARTY DISCLOSURES

During the year ended 31st December 2023 the company received administration fees in the sum of £Nil (2022 £12,946) from Windsor Estates Finance Ltd, a fellow subsidiary within the group of companies to which this company belongs.

During the year the company also received administration fees of £Nil (2022 £12,946) from Thameside Property Company Ltd, a fellow subsidiary in the group to which this company belongs.

During the year the company also paid £Nil (2022 £18,000) accommodation charges to Wayseal Property Investments Limited, a company in the associated group.

During the year the company paid £Nil (2022 £6,000) fees in respect of R E Thomas' services to Thomas Associates, a company in which R E Thomas had a beneficial interest.

At the year end a balance of £Nil (2022 £5,177) was due from the director, R E Thomas.

11. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Wayseal Holdings Limited, registered in England, of which the ultimate controlling party is C M L Perring and M E J Thomas.

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