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Registered number: 02283395
Weald Property Investments Limited
Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 02283395
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 900,000 900,000
900,000 900,000
CURRENT ASSETS
Debtors 6 9 14,436
Cash at bank and in hand 6,059 16,182
6,068 30,618
Creditors: Amounts Falling Due Within One Year 7 (295,731 ) (311,341 )
NET CURRENT ASSETS (LIABILITIES) (289,663 ) (280,723 )
TOTAL ASSETS LESS CURRENT LIABILITIES 610,337 619,277
Creditors: Amounts Falling Due After More Than One Year 8 - (3,500 )
NET ASSETS 610,337 615,777
CAPITAL AND RESERVES
Called up share capital 9 181 181
Revaluation reserve 11 237,900 237,900
Other reserves 40 40
Profit and Loss Account 372,216 377,656
SHAREHOLDERS' FUNDS 610,337 615,777
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For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs E D Calcioli
Director
Mr M Calcioli
Director
20 September 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Weald Property Investments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02283395 . The registered office is c/o Vitality House, 2-3 Imberhorne Way, East Grinstead, West Sussex, RH19 1RL.
The company’s principal activity continues to be that of property investment, management and development.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Not depreciated
Office Equipment 25% reducing balance
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
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2.5. Financial Instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Basic financial assets
Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. 
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
2.7. Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Tangible Assets
Land & Property
Freehold Office Equipment Total
£ £ £
Cost
As at 1 January 2023 900,000 7,097 907,097
As at 31 December 2023 900,000 7,097 907,097
Depreciation
As at 1 January 2023 - 7,097 7,097
As at 31 December 2023 - 7,097 7,097
Net Book Value
As at 31 December 2023 900,000 - 900,000
As at 1 January 2023 900,000 - 900,000
5. Investment Property
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2023 2022
£ £
Cost 662,810 662,810
6. Debtors
2023 2022
£ £
Due within one year
Other debtors 9 14,436
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Bank loans and overdrafts - 12,000
Other loans 103,342 103,342
Amounts owed to participating interests 149,245 149,245
Other creditors 43,144 43,093
Taxation and social security - 3,661
295,731 311,341
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8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans - 3,500
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 181 181
10. Financial Instruments
Financial assets measured at fair value through profit or loss comprise soley of cash.
11. Reserves
Revaluation Reserve
£
As at 1 January 2023 237,900
As at 31 December 2023 237,900
12. Related Party Transactions
At the year end the company owed £(130,845) {2022 - £(130,845)} to G & G Food Supplies Limited, a company in which Mr and Mrs Calcioli are directors and shareholders. 
At the year end the company owed £(103,342) {2022 - £(103,342)} to N Gaiman a shareholder.
13. Controlling Party
The company was controlled throughout the current and previous period by its directors, Mrs E Calcioli and Mr M Calcioli by virtue of the fact that they own the majority of the company's ordinary issued share capital.
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