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REGISTERED NUMBER: 12207098 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

WATERCROFT DEVELOPMENTS LIMITED

WATERCROFT DEVELOPMENTS LIMITED (REGISTERED NUMBER: 12207098)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WATERCROFT DEVELOPMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr M Menderes
Mr K Menderes





REGISTERED OFFICE: 36 Watercroft Road
Sevenoaks
Kent
TN14 7DP





REGISTERED NUMBER: 12207098 (England and Wales)





ACCOUNTANTS: Bayar Hughes & Co
Chartered Certified Accountants
4 Green Lane Business Park
238 Green lane
New Eltham
London
SE9 3TL

WATERCROFT DEVELOPMENTS LIMITED (REGISTERED NUMBER: 12207098)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 31,713 45,950
Investment Properties 5 1,495,000 1,356,458
1,526,713 1,402,408

CURRENT ASSETS
Cash at bank 13,007 179,561

CREDITORS
Amounts falling due within one year 6 7,302 5,271
NET CURRENT ASSETS 5,705 174,290
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,532,418

1,576,698

CREDITORS
Amounts falling due after more than one year 7 1,146,963 1,327,358
NET ASSETS 385,455 249,340

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 8 394,409 265,273
Retained earnings (9,054 ) (16,033 )
SHAREHOLDERS' FUNDS 385,455 249,340

WATERCROFT DEVELOPMENTS LIMITED (REGISTERED NUMBER: 12207098)

BALANCE SHEET - continued
31 DECEMBER 2023


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

The members have not required the company to obtain an audit of its financial statements for the year 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.

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 Board of Directors and authorised for issue on 24 September 2024 and were signed on its behalf by:





Mr M Menderes - Director


WATERCROFT DEVELOPMENTS LIMITED (REGISTERED NUMBER: 12207098)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Watercroft Developments 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 comprises 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.
Furnishings - 25% on reducing balance

Investment properties
Investment properties are 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Furnishings
£   
COST
At 1 January 2023 61,777
Additions 39,100
Disposals (57,021 )
At 31 December 2023 43,856
DEPRECIATION
At 1 January 2023 15,827
Charge for year 10,572
Eliminated on disposal (14,256 )
At 31 December 2023 12,143
NET BOOK VALUE
At 31 December 2023 31,713
At 31 December 2022 45,950

WATERCROFT DEVELOPMENTS LIMITED (REGISTERED NUMBER: 12207098)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. INVESTMENT PROPERTIES
Total
£   
FAIR VALUE
At 1 January 2023 1,356,458
Additions 9,406
Revaluations 129,136
At 31 December 2023 1,495,000
NET BOOK VALUE
At 31 December 2023 1,495,000
At 31 December 2022 1,356,458

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2022 265,273
Valuation in 2023 129,136
Cost 1,100,591
1,495,000

Investment Properties were valued on an open market basis on 31 December 2023 by the Directors' .

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 5,902 4,251
Taxation and social security 80 -
Other creditors 1,320 1,020
7,302 5,271

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 901,981 902,997
Other creditors 244,982 424,361
1,146,963 1,327,358

8. RESERVES
Revaluation
reserve
£   
At 1 January 2023 265,273
Revaluation 129,136

At 31 December 2023 394,409