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REGISTERED NUMBER: 13305339 (England and Wales)












FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

WARWICKSHIRE PROPERTY MANAGEMENT LIMITED

WARWICKSHIRE PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 13305339)






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


WARWICKSHIRE PROPERTY MANAGEMENT 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: 13305339 (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 MANAGEMENT LIMITED (REGISTERED NUMBER: 13305339)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 6,500,000 -

CURRENT ASSETS
Debtors 5 412,854 266,652
Cash at bank 79,775 47,075
492,629 313,727
CREDITORS
Amounts falling due within one year 6 240,872 231,777
NET CURRENT ASSETS 251,757 81,950
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,751,757

81,950

CREDITORS
Amounts falling due after more than one
year

7

6,500,000

-
NET ASSETS 251,757 81,950

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 251,657 81,850
251,757 81,950

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 21 March 2024 and were signed on its behalf by:




S Buckley - Director



J W R Devereux - Director


WARWICKSHIRE PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 13305339)

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

1. STATUTORY INFORMATION

Warwickshire Property Management 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.

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 Management 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.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.


WARWICKSHIRE PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 13305339)

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

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 6,500,000
At 31 December 2023 6,500,000
NET BOOK VALUE
At 31 December 2023 6,500,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 253,745 202,422
Amounts owed by group undertakings 159,109 100
Other debtors - 64,130
412,854 266,652

Included within amounts owed by group undertakings are amounts due from Warwickshire Property & Development Group Limited totalling £153,685 (2022 - £189,000 included within trade debtors) and amounts due from Warwickshire Property Development Limited totalling £5,424 (2022 - £nil).

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 123,478 225,873
Amounts owed to group undertakings 18,080 -
Taxation and social security 8,493 1,654
Other creditors 90,821 4,250
240,872 231,777

WARWICKSHIRE PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 13305339)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Included within trade creditors are balances owing to Warwickshire Property & Development Group Limited totalling £114,223 (2022 - £209,698).

Amounts owed to group undertakings includes amounts due to the shareholder, Warwickshire County Council (WCC) totalling £18,080 (2022 - debtor of £100).

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Amounts owed to group undertakings 6,500,000 -

Amounts owed to group undertakings includes amounts due to the shareholder, Warwickshire County Council (WCC) totalling £6,500,000 (2022 - £nil). the facility is repayable during November 2026 and attracts interest whilst outstanding.

8. 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

9. ULTIMATE PARENT ENTITY

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

10. 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.