REGISTERED NUMBER: |
WATLANDS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
REGISTERED NUMBER: |
WATLANDS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
WATLANDS LIMITED (REGISTERED NUMBER: 05058831) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 6 |
WATLANDS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Landgate Chambers |
Rye |
East Sussex |
TN31 7LJ |
WATLANDS LIMITED (REGISTERED NUMBER: 05058831) |
BALANCE SHEET |
31 DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Revaluation reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
WATLANDS LIMITED (REGISTERED NUMBER: 05058831) |
BALANCE SHEET - continued |
31 DECEMBER 2023 |
The financial statements were approved by the Board of Directors and authorised for issue on |
WATLANDS LIMITED (REGISTERED NUMBER: 05058831) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
Watlands Limited is a |
2. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
The accounts have been prepared on a going concern basis. Creditors at the year end include loans from the Mair Marriage Settlement Trust totalling £139,959 (2021 - £139,959) representing amounts advanced to the company by the trust. The directors, who are both trustees of the trust, have indicated that the trust will continue to support the company. |
Taking this into account, the directors consider that it is appropriate for the accounts to be prepared on a going concern basis. |
TURNOVER |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
INVESTMENT PROPERTY |
Investment property is held for long term investment and is included in the balance sheet at open market value. Any aggregate surplus or deficit arising from changes in market value is transferred to a revaluation reserve. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 January 2023 |
Revaluations | (17,701 | ) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
WATLANDS LIMITED (REGISTERED NUMBER: 05058831) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
4. | INVESTMENT PROPERTY - continued |
Fair value at 31 December 2023 is represented by: |
£ |
Valuation in 2013 | 315,000 |
Valuation in 2016 | 89,000 |
Valuation in 2017 | 1,000 |
Valuation in 2018 | 5,000 |
Valuation in 2019 | (4,144 | ) |
Valuation in 2020 | 32,511 |
Valuation in 2021 | (58,367 | ) |
Valuation in 2022 | 16,309 |
Valuation in 2023 | (17,701 | ) |
378,608 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Taxation and social security |
Other creditors |
7. | PROVISIONS FOR LIABILITIES |
2023 | 2022 |
£ | £ |
Deferred tax | 15,773 | 20,199 |
Deferred |
tax |
£ |
Balance at 1 January 2023 |
Credit to Income Statement during year | ( |
) |
Balance at 31 December 2023 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | 1 | 1 | 1 |
WATLANDS LIMITED (REGISTERED NUMBER: 05058831) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
9. | RELATED PARTY DISCLOSURES |
Mair Marriage Settlement Trust is the sole shareholder of Watlands Ltd. At the beginning of the year the company owed Mair Marriage Settlement Trust £139.959. There have been no transactions this year therefore leaving £139,959 outstanding at the year end. This amount is shown within other creditors. |
Mr RPT Mair , director, is in partnership with others trading as R Mair & Son. |
The partnership have previously paid certain property expenses on behalf of the company. At the end of the year the company owed the partnership £25,005 (2022 £24,726) which is included in other creditors. |