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REGISTERED NUMBER: 06142257 (England and Wales)















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: Dr R Bennett
C J Bennett
T Bennett
B C Soulby





SECRETARY: B C Soulby





REGISTERED OFFICE: Undy's Cottage
39 Charnham Street
Hungerford
Berkshire
RG17 0EJ





REGISTERED NUMBER: 06142257 (England and Wales)





ACCOUNTANTS: Sheen Stickland
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 11,091 -
Investment property 6 300,000 300,000
311,091 300,000

CURRENT ASSETS
Debtors 7 2,544 2,132
Cash at bank 156,600 174,820
159,144 176,952
CREDITORS
Amounts falling due within one year 8 420,759 431,965
NET CURRENT LIABILITIES (261,615 ) (255,013 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

49,476

44,987

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 10 49,474 44,985
SHAREHOLDERS' FUNDS 49,476 44,987

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 2024 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.

Property Developments Wessex Limited (Registered number: 06142257)

Balance Sheet - continued
29th February 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14th August 2024 and were signed on its behalf by:





B C Soulby - Director


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 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance

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 14,787
At 29th February 2024 14,787
DEPRECIATION
Charge for year 3,696
At 29th February 2024 3,696
NET BOOK VALUE
At 29th February 2024 11,091

6. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1st March 2023
and 29th February 2024 300,000
NET BOOK VALUE
At 29th February 2024 300,000
At 28th February 2023 300,000

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 2,544 2,132

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 925 1,623
Amounts owed to group undertakings 412,777 418,023
Tax 115 1,982
Directors' current accounts 802 389
Accruals and deferred income 6,140 9,948
420,759 431,965

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 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 44,985
Profit for the year 4,489
At 29th February 2024 49,474

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
£    £   
Dr R Bennett
Balance outstanding at start of year - 682
Amounts repaid - (682 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -