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REGISTERED NUMBER: 04174838 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

WATERFRONT PROPERTY SERVICES LIMITED

WATERFRONT PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 04174838)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 7

WATERFRONT PROPERTY SERVICES LIMITED

Company Information
for the Year Ended 30 June 2024







DIRECTOR: P Bennett





REGISTERED OFFICE: Enterprise House
The Courtyard
Old Court House Road
Bromborough
Wirral
CH62 4UE





REGISTERED NUMBER: 04174838 (England and Wales)





ACCOUNTANTS: LBW Chartered Accountants
Enterprise House
The Courtyard
Old Courthouse Road
Bromborough
Merseyside
CH62 4UE

WATERFRONT PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 04174838)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,946 15,936
Investment property 5 1,361,841 1,206,000
1,373,787 1,221,936

CURRENT ASSETS
Cash at bank 11,509 11,807

CREDITORS
Amounts falling due within one year 6 16,996 16,407
NET CURRENT LIABILITIES (5,487 ) (4,600 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,368,300

1,217,336

CREDITORS
Amounts falling due after more than one
year

7

(282,249

)

(256,871

)

PROVISIONS FOR LIABILITIES (125,158 ) (3,028 )
NET ASSETS 960,893 957,437

CAPITAL AND RESERVES
Called up share capital 9 2 2
Fair value reserve 10 523,890 597,829
Retained earnings 10 437,001 359,606
SHAREHOLDERS' FUNDS 960,893 957,437

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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 19 September 2024 and were signed by:





P Bennett - Director


WATERFRONT PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 04174838)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Waterfront Property Services 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on reducing balance and 25% on reducing balance

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

WATERFRONT PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 04174838)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023
and 30 June 2024 68,340
DEPRECIATION
At 1 July 2023 52,404
Charge for year 3,990
At 30 June 2024 56,394
NET BOOK VALUE
At 30 June 2024 11,946
At 30 June 2023 15,936

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1 July 2023
and 30 June 2024 66,830
DEPRECIATION
At 1 July 2023 50,971
Charge for year 3,965
At 30 June 2024 54,936
NET BOOK VALUE
At 30 June 2024 11,894
At 30 June 2023 15,859

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 1,206,000
Additions 232,742
Disposals (76,901 )
At 30 June 2024 1,361,841
NET BOOK VALUE
At 30 June 2024 1,361,841
At 30 June 2023 1,206,000

WATERFRONT PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 04174838)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. INVESTMENT PROPERTY - continued

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2016 551,473
Valuation in 2018 (151,000 )
Valuation in 2021 (93,508 )
Valuation in 2023 195,412
Valuation in 2024 144,401
Cost 715,063
1,361,841

If Investment Property had not been revalued it would have been included at the following historical cost:

30.6.24 30.6.23
£    £   
Cost 715,063 703,623

Investment Property was valued on an open market basis on 30 June 2024 by Peter Bennett .

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 3,700 3,700
Taxation and social security 4,956 4,369
Other creditors 8,340 8,338
16,996 16,407

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans 7,466 11,320
Other creditors 274,783 245,551
282,249 256,871

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 4,074 4,228
Other loans more 5yrs instal 157,346 166,382
161,420 170,610

8. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Bank loans 11,166 15,020
Other loans 193,050 202,086
204,216 217,106

The company has 10 charges outstanding for loan made to the company. These are secured against various properties held within the company.

The HP is secured against the vehicle with in the accounts.

WATERFRONT PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 04174838)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
2 Ordinary 1 2 2

10. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 July 2023 359,606 597,829 957,435
Deficit for the year (21,493 ) (21,493 )
Dividends (24,000 ) (24,000 )
Movement in year - (73,939 ) (73,939 )
Deferred tax movement 122,888 - 122,888
At 30 June 2024 437,001 523,890 960,891

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included in other creditors is an amount of £88,874 (2023; £50,606) relating to the directors loan account.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Waterfront Property Services 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 Waterfront Property Services Limited for the year ended 30 June 2024 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Waterfront Property Services Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Waterfront Property Services Limited and state those matters that we have agreed to state to the director of Waterfront Property Services Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Waterfront Property Services Limited and its director for our work or for this report.

It is your duty to ensure that Waterfront Property Services 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 loss of Waterfront Property Services Limited. You consider that Waterfront Property Services 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 Waterfront Property Services 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.






LBW Chartered Accountants
Enterprise House
The Courtyard
Old Courthouse Road
Bromborough
Merseyside
CH62 4UE


Date: .............................................