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REGISTERED NUMBER: 00567947 (England and Wales)















Unaudited Financial Statements for the Year Ended 5 April 2024

for

Watergate Properties (Ellesmere) Limited

Watergate Properties (Ellesmere) Limited (Registered number: 00567947)






Contents of the Financial Statements
for the Year Ended 5 April 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Watergate Properties (Ellesmere) Limited

Company Information
for the Year Ended 5 April 2024







Directors: K J Kelly
E G Rees





Secretary: K J Kelly





Registered office: 12 Grosvenor Road
Wrexham
LL11 1BU





Registered number: 00567947 (England and Wales)





Accountants: Ellis & Co
Chartered Accountants
114-120 Northgate Street
Chester
CH1 2HT

Watergate Properties (Ellesmere) Limited (Registered number: 00567947)

Statement of Financial Position
5 April 2024

5/4/24 5/4/23
Notes £    £    £    £   
Fixed assets
Tangible assets 4 13,367 20,050
Investments 5 2,261,167 2,055,298
Investment property 6 2,713,000 3,424,800
4,987,534 5,500,148

Current assets
Debtors 7 9,226 12,530
Cash at bank 928,245 262,329
937,471 274,859
Creditors
Amounts falling due within one year 8 123,702 116,456
Net current assets 813,769 158,403
Total assets less current liabilities 5,801,303 5,658,551

Provisions for liabilities 9 639,821 681,158
Net assets 5,161,482 4,977,393

Capital and reserves
Called up share capital 800 800
Other reserves 10 1,745,951 2,534,238
Retained earnings 10 3,414,731 2,442,355
5,161,482 4,977,393

Watergate Properties (Ellesmere) Limited (Registered number: 00567947)

Statement of Financial Position - continued
5 April 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 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.

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 12 September 2024 and were signed on its behalf by:





K J Kelly - Director


Watergate Properties (Ellesmere) Limited (Registered number: 00567947)

Notes to the Financial Statements
for the Year Ended 5 April 2024

1. Statutory information

Watergate Properties (Ellesmere) 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 as modified by the revaluation of certain assets.

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

Revenue from property rental is recognised on an accruals basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 20% on cost
Computer equipment - 33% 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.

Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

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 statement of financial position date.


Watergate Properties (Ellesmere) Limited (Registered number: 00567947)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2024

2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Operating leases
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Investments
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

3. Employees and directors

The average number of employees during the year was 2 (2023 - 3 ) .

4. Tangible fixed assets
Motor Computer
vehicles equipment Totals
£    £    £   
Cost
At 6 April 2023 33,417 2,349 35,766
Disposals - (1,769 ) (1,769 )
At 5 April 2024 33,417 580 33,997
Depreciation
At 6 April 2023 13,367 2,349 15,716
Charge for year 6,683 - 6,683
Eliminated on disposal - (1,769 ) (1,769 )
At 5 April 2024 20,050 580 20,630
Net book value
At 5 April 2024 13,367 - 13,367
At 5 April 2023 20,050 - 20,050

Watergate Properties (Ellesmere) Limited (Registered number: 00567947)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2024

5. Fixed asset investments
Other
investments
£   
Cost or valuation
At 6 April 2023 2,055,298
Additions 675,198
Disposals (636,422 )
Revaluations 167,093
At 5 April 2024 2,261,167
Net book value
At 5 April 2024 2,261,167
At 5 April 2023 2,055,298


6. Investment property
Total
£   
Fair value
At 6 April 2023 3,424,800
Disposals (831,800 )
Revaluations 120,000
At 5 April 2024 2,713,000
Net book value
At 5 April 2024 2,713,000
At 5 April 2023 3,424,800

Investment property is shown at its most recent valuation.

7. Debtors: amounts falling due within one year
5/4/24 5/4/23
£    £   
Trade debtors 8,412 12,530
Other debtors 814 -
9,226 12,530

Watergate Properties (Ellesmere) Limited (Registered number: 00567947)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2024

8. Creditors: amounts falling due within one year
5/4/24 5/4/23
£    £   
Trade creditors 2,516 -
Taxation and social security - 205
Other creditors 121,186 116,251
123,702 116,456

9. Provisions for liabilities
5/4/24 5/4/23
£    £   
Deferred tax
Accelerated capital allowances 3,342 5,013
Other timing differences 636,479 676,145
639,821 681,158

Deferred
tax
£   
Balance at 6 April 2023 681,158
Credit to Income Statement during year (41,337 )
Balance at 5 April 2024 639,821

10. Reserves

Under FRS 102 surpluses on the revaluation of investment property are treated as fair value adjustments and are recognised in the statement of income. However under company law, these surpluses are not distributable. In these financial statements, the cumulative non-distributable revaluation surpluses have been included in other reserves. On disposal of an investment property, any revaluation surplus realised on disposal is transferred to distributable reserves.

11. Related party disclosures

During the year donations made to the parent charity were £250,000 (2023: £290,000).