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REGISTERED NUMBER: 13299170 (England and Wales)












FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

WARWICKSHIRE PROPERTY & DEVELOPMENT
GROUP LIMITED

WARWICKSHIRE PROPERTY & DEVELOPMENT
GROUP LIMITED (REGISTERED NUMBER: 13299170)






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




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


WARWICKSHIRE PROPERTY & DEVELOPMENT
GROUP LIMITED

COMPANY INFORMATION
for the year ended 31 December 2023







DIRECTORS: S Buckley
D A Burgher
I D Cox
J W R Devereux
M J Hallett
S M N Smith



REGISTERED OFFICE: Shire Hall
Market Place
Warwick
United Kingdom
CV34 4RL



REGISTERED NUMBER: 13299170 (England and Wales)



SENIOR STATUTORY AUDITOR: Gregg Olner MPhil BA (Hons) FCA



AUDITORS: Harrison Beale & Owen Limited
Chartered Accountants and Statutory Auditor
Highdown House
11 Highdown Road
Leamington Spa
Warwickshire
CV31 1XT

WARWICKSHIRE PROPERTY & DEVELOPMENT
GROUP LIMITED (REGISTERED NUMBER: 13299170)

ABRIDGED BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 240 240

CURRENT ASSETS
Debtors 851,717 759,439
Cash at bank 29,139 43,100
880,856 802,539
CREDITORS
Amounts falling due within one year 2,056,874 1,532,489
NET CURRENT LIABILITIES (1,176,018 ) (729,950 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,175,778

)

(729,710

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (1,175,878 ) (729,810 )
(1,175,778 ) (729,710 )

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 21 March 2024 and were signed on its behalf by:




S Buckley - Director



J W R Devereux - Director


WARWICKSHIRE PROPERTY & DEVELOPMENT
GROUP LIMITED (REGISTERED NUMBER: 13299170)

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

1. STATUTORY INFORMATION

Warwickshire Property & Development Group 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.

The accounts have been prepared in accordance with applicable accounting standards. The principal accounting policies adopted in the preparation of the financial statements are set out below.

At the year end the company had net liabilities of £1,175,778 (2022 - £729,710). The directors consider that the support offered by the shareholder, Warwickshire County Council (WCC), to the business enables them to conclude that the company is able to meet its debts and obligations as they fall due. To that end the company is considered a going concern and the accounts have been prepared on that basis.

The Shareholder is aware that the standalone company Warwickshire Property & Development Group Limited has made a financial loss in 2023. The Council will continue to support Warwickshire Property & Development Group Limited on the expectation of making a profit as the planned developments are delivered by the group undertakings and the joint venture.

Preparation of consolidated financial statements
The financial statements contain information about Warwickshire Property & Development Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
The preparation of financial statements in conformity with FRS 102 requires the use of certain accounting estimates. It also requires management to exercise its judgement in the process of applying the company's accounting policies. Due to the nature of the business of Warwickshire Property & Development Group Limited, the directors deem there to be no areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements.

Turnover
Turnover comprises the value of sales (net of value added tax) of goods and services provided in the normal course of business. Revenue is recognised in respect of service contracts when the company obtains the right to consideration.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

WARWICKSHIRE PROPERTY & DEVELOPMENT
GROUP LIMITED (REGISTERED NUMBER: 13299170)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement.

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 tax
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 8 ) .

4. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 January 2023
and 31 December 2023 240
NET BOOK VALUE
At 31 December 2023 240
At 31 December 2022 240

WARWICKSHIRE PROPERTY & DEVELOPMENT
GROUP LIMITED (REGISTERED NUMBER: 13299170)

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

4. FIXED ASSET INVESTMENTS - continued

Shares in group undertakings represents the entire issued share capital of Warwickshire Property Development Limited (no. 13994069) and Warwickshire Property Management Limited (no. 13305339). Both subsidiaries are incorporated in England and Wales.

5. DEFERRED TAX
£   
Balance at 1 January 2023 (215,987 )
Credit to Income Statement during year (5,851 )
Balance at 31 December 2023 (221,838 )

6. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Gregg Olner MPhil BA (Hons) FCA (Senior Statutory Auditor)
for and on behalf of Harrison Beale & Owen Limited

7. PENSION COMMITMENTS

During the year the company made pension contributions to a defined contribution scheme amounting to £16,730 (2022 - £12,574). At the year end there were outstanding contributions of £3,789 (2022 - £3,494).

8. ULTIMATE PARENT ENTITY

The company's ultimate parent undertaking is Warwickshire County Council.

9. CONTROLLING INTERESTS

The directors are considered to be the ultimate controlling parties by virtue of their ability to act in concert in respect of the financial and operating policies of the company.