REGISTERED NUMBER: |
Property Developments Wessex Limited |
Unaudited Financial Statements for the Year Ended 29th February 2024 |
REGISTERED NUMBER: |
Property Developments Wessex Limited |
Unaudited Financial Statements for the Year Ended 29th February 2024 |
Property Developments Wessex Limited (Registered number: 06142257) |
Contents of the Financial Statements |
for the Year Ended 29th February 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Property Developments Wessex Limited |
Company Information |
for the Year Ended 29th February 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
2 Oriel Court |
Omega Park |
Alton |
Hampshire |
GU34 2YT |
Property Developments Wessex Limited (Registered number: 06142257) |
Balance Sheet |
29th February 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings | 10 |
SHAREHOLDERS' FUNDS |
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. |
Property Developments Wessex Limited (Registered number: 06142257) |
Balance Sheet - continued |
29th February 2024 |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Property Developments Wessex Limited (Registered number: 06142257) |
Notes to the Financial Statements |
for the Year Ended 29th February 2024 |
1. | STATUTORY INFORMATION |
Property Developments Wessex Limited is a |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are presented in sterling, which is the functional currency of the company, and rounded to the nearest pound. |
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
Turnover |
The turnover shown in the profit and loss account represents rents received and associated charges in respect of the year, exclusive of Value Added Tax. |
Tangible fixed assets |
Plant and machinery | - |
Investment property |
Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in the fair value is recognised in the Profit and Loss Account. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
Property Developments Wessex Limited (Registered number: 06142257) |
Notes to the Financial Statements - continued |
for the Year Ended 29th February 2024 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
£ |
COST |
Additions |
At 29th February 2024 |
DEPRECIATION |
Charge for year |
At 29th February 2024 |
NET BOOK VALUE |
At 29th February 2024 |
6. | INVESTMENT PROPERTY |
Total |
£ |
COST OR VALUATION |
At 1st March 2023 |
and 29th February 2024 |
NET BOOK VALUE |
At 29th February 2024 |
At 28th February 2023 |
Cost or valuation at 29th February 2024 is represented by: |
£ |
Valuation in 2016 | (496,224 | ) |
Valuation in 2018 | 7,000 |
Valuation in 2020 | 18,000 |
Cost | 771,224 |
300,000 |
Property Developments Wessex Limited (Registered number: 06142257) |
Notes to the Financial Statements - continued |
for the Year Ended 29th February 2024 |
6. | INVESTMENT PROPERTY - continued |
If investment property had not been revalued it would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 771,224 | 771,224 |
Investment property was valued on a fair value basis on 29th February 2024 by the directors . |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Prepayments |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Tax |
Directors' current accounts | 802 | 389 |
Accruals and deferred income |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 2 | 2 |
Property Developments Wessex Limited (Registered number: 06142257) |
Notes to the Financial Statements - continued |
for the Year Ended 29th February 2024 |
10. | RESERVES |
Retained |
earnings |
£ |
At 1st March 2023 |
Profit for the year |
At 29th February 2024 |
11. | CONTINGENT LIABILITIES |
A legal charge (0614 2257 0001) had been given over the company's investment property in respect of security for direct debit guarantees for Herongate Fitness & Wellbeing Ltd. The charge was settled in full on 30th August 2022. |
12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 29th February 2024 and 28th February 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of year |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |