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REGISTERED NUMBER: 03206394 (England and Wales)


















Financial Statements for the Year Ended 30 June 2024

for

WALDON PROPERTIES LIMITED

WALDON PROPERTIES LIMITED (REGISTERED NUMBER: 03206394)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


WALDON PROPERTIES LIMITED

Company Information
for the Year Ended 30 June 2024







DIRECTORS: D J James
P J James
E J James
C L Moloney



SECRETARY: E J James



REGISTERED OFFICE: Waldon House
Ridgway
Pyrford
Woking
Surrey
GU22 8PW



REGISTERED NUMBER: 03206394 (England and Wales)



ACCOUNTANTS: BDA Associates Limited
Chartered Accountants
Global House
1 Ashley Avenue
Epsom
Surrey
KT18 5AD



BANKERS: Handelsbanken
Waterloo House
40 Baker Street
Weybridge
Surrey
KT13 8AR

WALDON PROPERTIES LIMITED (REGISTERED NUMBER: 03206394)

Statement of Financial Position
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2 2
Investments 5 200,436 200,436
200,438 200,438

CURRENT ASSETS
Stocks 6 15,320,054 13,548,032
Debtors 7 13,449 46,443
Cash at bank 321,608 301,981
15,655,111 13,896,456
CREDITORS
Amounts falling due within one year 8 241,354 225,314
NET CURRENT ASSETS 15,413,757 13,671,142
TOTAL ASSETS LESS CURRENT
LIABILITIES

15,614,195

13,871,580

CREDITORS
Amounts falling due after more than one year 9 4,721,149 3,062,249
NET ASSETS 10,893,046 10,809,331

CAPITAL AND RESERVES
Called up share capital 11 2,176 2,176
Share premium 4,814,702 4,814,702
Retained earnings 6,076,168 5,992,453
SHAREHOLDERS' FUNDS 10,893,046 10,809,331

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 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.

WALDON PROPERTIES LIMITED (REGISTERED NUMBER: 03206394)

Statement of Financial Position - continued
30 June 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 September 2024 and were signed on its behalf by:





P J James - Director


WALDON PROPERTIES LIMITED (REGISTERED NUMBER: 03206394)

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

1. STATUTORY INFORMATION

Waldon 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents sales of developed properties and rental income.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on cost
Computer equipment - 33.33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

WALDON PROPERTIES LIMITED (REGISTERED NUMBER: 03206394)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 140,757 28,772 169,529
DEPRECIATION
At 1 July 2023
and 30 June 2024 140,756 28,771 169,527
NET BOOK VALUE
At 30 June 2024 1 1 2
At 30 June 2023 1 1 2

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 July 2023
and 30 June 2024 200,436
NET BOOK VALUE
At 30 June 2024 200,436
At 30 June 2023 200,436

Cost or valuation at 30 June 2024 is represented by:

Other
investments
£   
Valuation in 2019 (718,511 )
Cost 918,947
200,436

The holdings of £1 ordinary and £1 B preference shares in Octagon Group Holdings Ltd were converted during the year ended 30/06/2019 to penny shares and revalued to reflect the true value of these investments.

WALDON PROPERTIES LIMITED (REGISTERED NUMBER: 03206394)

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

6. STOCKS
30.6.24 30.6.23
£    £   
Property stock 15,320,054 13,548,032

Development Projects

The development site at 2 Beauchamp Road, East Molesey was purchased and following refusals and failed
appeals an application for a new single block of 4 apartments and the refurbishment of the existing house has been submitted.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
VAT 131 11,967
Prepayments and accrued income 13,318 34,476
13,449 46,443

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 160,000 160,000
Trade creditors 28,313 3,206
Tax 25,044 33,965
Other creditors 257 -
Deferred income 20,240 22,393
Accrued expenses 7,500 5,750
241,354 225,314

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans - 1-2 years 160,000 160,000
Bank loans - 2-5 years 2,310,000 2,470,000
Loan D J James and E J James 445,149 432,249
Directors' Loan P J James 903,000 -
Directors' Loan C L Moloney 903,000 -
4,721,149 3,062,249

WALDON PROPERTIES LIMITED (REGISTERED NUMBER: 03206394)

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

10. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Bank loans 2,630,000 2,790,000

The company had a LIBOR term loan facility in the amount of £3,750,000 that matured on 17 March 2022 with an outstanding balance of £2,950,000.

It was refinanced with Handelsbanken with a LIBOR 5 year term loan facility in the amount of £2,950,000 with equal quarterly repayments of £40,000 plus interest charged at 4.35% above LIBOR from 5 August 2022.

At the year end, the outstanding loan amount was £2,630,000 (2023 - £2,790,000).

These loans are secured by way of a first legal charge over the following properties : Cedarwood, Crossfield Place, Weybridge; 11 Lime Tree Walk, Virginia Park, Virginia Water; 14 Fox Wood, Burwood Road, Walton-on-Thames; Warwick House, 20 Broadwater Close, Walton-on-Thames; Beaumont House, 66 Onslow Road, Burwood Park, Walton-on-Thames; 47 Broadoaks Park, Parvis Road, West Byfleet.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
2,176 Ordinary £1 2,176 2,176