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REGISTERED NUMBER: 02017331 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2023 TO 31 DECEMBER 2023

FOR

W6 PROPERTIES LIMITED

W6 PROPERTIES LIMITED (REGISTERED NUMBER: 02017331)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2023 TO 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


W6 PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 APRIL 2023 TO 31 DECEMBER 2023







DIRECTORS: Mr N Levy
Mr Z S Levy





REGISTERED OFFICE: 89 Kingsley Way
London
N2 0EL





REGISTERED NUMBER: 02017331 (England and Wales)





ACCOUNTANTS: DAS Accounting & Partners (UK) LLP
105 Eade Road
OCC Building A
2nd Floor Unit 11D
London
N4 1TJ

W6 PROPERTIES LIMITED (REGISTERED NUMBER: 02017331)

BALANCE SHEET
31 DECEMBER 2023

2023 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 8,707,879 8,107,801

CURRENT ASSETS
Debtors 6 3,082,612 -
Cash at bank 5,821 178,050
3,088,433 178,050
CREDITORS
Amounts falling due within one year 7 (190,922 ) (4,488 )
NET CURRENT ASSETS 2,897,511 173,562
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,605,390

8,281,363

CREDITORS
Amounts falling due after more than one year 8 (4,900,000 ) (1,910,000 )

PROVISIONS FOR LIABILITIES 9 (1,024,000 ) (971,969 )
NET ASSETS 5,681,390 5,399,394

CAPITAL AND RESERVES
Called up share capital 2,100 2,100
Retained earnings 5,679,290 5,397,294
SHAREHOLDERS' FUNDS 5,681,390 5,399,394

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2023 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.

W6 PROPERTIES LIMITED (REGISTERED NUMBER: 02017331)

BALANCE SHEET - continued
31 DECEMBER 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 September 2024 and were signed on its behalf by:





Mr Z S Levy - Director


W6 PROPERTIES LIMITED (REGISTERED NUMBER: 02017331)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2023 TO 31 DECEMBER 2023

1. STATUTORY INFORMATION

W6 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention except that investment property is measured at fair value through profit or loss.

Judgements and key sources of estimation uncertainty
Judgements made by the directors, in the application of these accounting policies that have significant effect on the financial statements and estimates with a significant risk of material adjustment in the next year are discussed below.

The company's investment properties are valued by the directors. The valuation of the company's properties are inherently subjective, depending on many factors, including the individual nature of the property, its location and expected future net rental value, market yields and comparable market conditions. Therefore the valuation is subject to a degree of uncertainty and is made on the basis of assumptions which may not prove to be accurate, particularly in periods of difficult market or economic conditions.

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.

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
Fixed assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and equipment - 20% reducing balance

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.


W6 PROPERTIES LIMITED (REGISTERED NUMBER: 02017331)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2023 TO 31 DECEMBER 2023

3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 period 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2023 - NIL).

5. TANGIBLE FIXED ASSETS
Freehold Fixtures
investment and
property Equipment Totals
£    £    £   
COST OR VALUATION
At 1 April 2023 8,100,000 63,841 8,163,841
Additions - 2,048 2,048
Revaluations 600,000 - 600,000
At 31 December 2023 8,700,000 65,889 8,765,889
DEPRECIATION
At 1 April 2023 - 56,040 56,040
Charge for period - 1,970 1,970
At 31 December 2023 - 58,010 58,010
NET BOOK VALUE
At 31 December 2023 8,700,000 7,879 8,707,879
At 31 March 2023 8,100,000 7,801 8,107,801

The directors are of the opinion that £8,700,000 represents the open market value of the company's investment properties at 31 December 2023. The historical cost of the investment properties is £2,984,372 (2022: £2,984,372).

W6 PROPERTIES LIMITED (REGISTERED NUMBER: 02017331)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2023 TO 31 DECEMBER 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2023
£    £   
Amounts owed by parent undertaking 2,888,406 -
Other debtors 194,206 -
3,082,612 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2023
£    £   
Taxation - 3,258
Other creditors 190,922 1,230
190,922 4,488

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2023
£    £   
Bank loans 4,900,000 1,910,000

The bank loans are secured by legal charges over the assets of the company.

9. PROVISIONS FOR LIABILITIES
2023 2023
£    £   
Deferred tax 1,024,000 971,969

Deferred
tax
£   
Balance at 1 April 2023 971,969
Movement during the year 52,031
Balance at 31 December 2023 1,024,000

The provision for deferred tax is in relation to timing differences in respect of the revaluation of investment properties.

10. RELATED PARTY DISCLOSURES

Other debtors include an amount of £16,169 owed by a company which has a director in common with the company.

Other creditors include an amount of £166,648 due to a company which has a director in common with the company.

Other than the amounts disclosed above, no transactions with related parties were undertaken such as are required to be disclosed under FRS 102.