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REGISTERED NUMBER: 05058831 (England and Wales)














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: Mr R P T Mair
Mrs H Grissell
Mrs C Forbes





SECRETARY: Mr R P T Mair





REGISTERED OFFICE: Roadend Farm
Udimore
Rye
East Sussex
TN31 6BY





REGISTERED NUMBER: 05058831 (England and Wales)





ACCOUNTANTS: Gibbons Mannington & Phipps LLP
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 4 378,608 396,309

CURRENT ASSETS
Debtors 5 664 566
Cash at bank 48,569 31,231
49,233 31,797
CREDITORS
Amounts falling due within one year 6 171,175 169,266
NET CURRENT LIABILITIES (121,942 ) (137,469 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

256,666

258,840

PROVISIONS FOR LIABILITIES 7 15,773 20,199
NET ASSETS 240,893 238,641

CAPITAL AND RESERVES
Called up share capital 8 1 1
Revaluation reserve 72,835 86,110
Retained earnings 168,057 152,530
SHAREHOLDERS' FUNDS 240,893 238,641

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.

WATLANDS LIMITED (REGISTERED NUMBER: 05058831)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by:




Mr R P T Mair - Director Mrs H Grissell - Director




Mrs C Forbes - Director


WATLANDS LIMITED (REGISTERED NUMBER: 05058831)

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


1. STATUTORY INFORMATION

Watlands 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.

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 3 (2022 - 3 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 396,309
Revaluations (17,701 )
At 31 December 2023 378,608
NET BOOK VALUE
At 31 December 2023 378,608
At 31 December 2022 396,309

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 664 566

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 1,633 -
Other creditors 169,542 169,266
171,175 169,266

7. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 15,773 20,199

Deferred
tax
£   
Balance at 1 January 2023 20,199
Credit to Income Statement during year (4,426 )
Balance at 31 December 2023 15,773

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 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.