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REGISTERED NUMBER: 12687612 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 December 2023

for

We Buy Properties Limited

We Buy Properties Limited (Registered number: 12687612)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Chartered Certified Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


We Buy Properties Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: S K Vellanki





REGISTERED OFFICE: Branston Court
Branston Street
Birmingham
West Midlands
B18 6BA





REGISTERED NUMBER: 12687612 (England and Wales)





ACCOUNTANTS: A Hadley Accounting Services Limited
Chartered Certified Accountants
22 Compton Road
Cradley Heath
West Midlands
B64 5BB

Chartered Certified Accountants' Report to the Director
on the Unaudited Financial Statements of
We Buy Properties Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of We Buy Properties Limited for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of We Buy Properties Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of We Buy Properties Limited and state those matters that we have agreed to state to the director of We Buy Properties Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that We Buy Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of We Buy Properties Limited. You consider that We Buy Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of We Buy Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






A Hadley Accounting Services Limited
Chartered Certified Accountants
22 Compton Road
Cradley Heath
West Midlands
B64 5BB


9 September 2024

We Buy Properties Limited (Registered number: 12687612)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 931 1,203
Investments 5 1,927 999
Investment property 6 424,878 424,878
427,736 427,080

CURRENT ASSETS
Cash at bank 588 491

CREDITORS
Amounts falling due within one year 7 1,078 1,070
NET CURRENT LIABILITIES (490 ) (579 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

427,246

426,501

CREDITORS
Amounts falling due after more than one
year

8

420,751

420,870
NET ASSETS 6,495 5,631

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 6,395 5,531
6,495 5,631

We Buy Properties Limited (Registered number: 12687612)

Balance Sheet - continued
31 December 2023


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 director acknowledges his 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 director and authorised for issue on 9 September 2024 and were signed by:





S K Vellanki - Director


We Buy Properties Limited (Registered number: 12687612)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

We Buy 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 etc - 20% on cost

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.

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.

We Buy Properties Limited (Registered number: 12687612)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 1,362
DEPRECIATION
At 1 January 2023 159
Charge for year 272
At 31 December 2023 431
NET BOOK VALUE
At 31 December 2023 931
At 31 December 2022 1,203

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023 999
Additions 928
At 31 December 2023 1,927
NET BOOK VALUE
At 31 December 2023 1,927
At 31 December 2022 999

We Buy Properties Limited (Registered number: 12687612)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 424,878
NET BOOK VALUE
At 31 December 2023 424,878
At 31 December 2022 424,878

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Taxation and social security 266 473
Other creditors 812 597
1,078 1,070

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 317,846 317,846
Other creditors 102,905 103,024
420,751 420,870

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 317,846 317,846

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 317,846 317,846

The bank loans are secured by fixed charges against the investment properties.