Registered number
12143916
Worcestershire Properties Limited
Filleted Accounts
31 August 2024
Worcestershire Properties Limited
Registered number: 12143916
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 500,000 500,000
Current assets
Cash at bank and in hand 2,639 2,187
Creditors: amounts falling due within one year 4 (123,514) (120,656)
Net current liabilities (120,875) (118,469)
Total assets less current liabilities 379,125 381,531
Creditors: amounts falling due after more than one year 5 (286,661) (288,251)
Net assets 92,464 93,280
Capital and reserves
Called up share capital 2 2
Non-distributable reserve 7 108,948 108,948
Profit and loss account (16,486) (15,670)
Shareholders' funds 92,464 93,280
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P A Young
Director
Approved by the board on 22 October 2024
Worcestershire Properties Limited
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover represents rent receivable by the company for the period of occupation relative to the accounting period of the company.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in a non-distributable profit and loss account reserve.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Investments
Other
investments
£
Fair value
At 1 September 2023 500,000
At 31 August 2024 500,000
Historical cost
At 1 September 2023 391,052
At 31 August 2024 391,052
4 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 1,590 1,590
Trade creditors 781 781
Other creditors 121,143 118,285
123,514 120,656
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 286,661 288,251
6 Loans 2024 2023
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 283,879 285,469
Secured bank loans 283,879 285,469
Mortgages are secured by means of a fixed and floating charge against investment properties owned by company.
7 Non-distributable reserve 2024 2023
£ £
At 1 September 2023 108,948 108,948
At 31 August 2024 108,948 108,948
8 Other information
Worcestershire Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
11 Forest Close
Bewdley
DY12 2UF
Worcestershire Properties Limited 12143916 false 2023-09-01 2024-08-31 2024-08-31 VT Final Accounts April 2024 P A Young No description of principal activity 12143916 2022-09-01 2023-08-31 12143916 core:WithinOneYear 2023-08-31 12143916 core:AfterOneYear 2023-08-31 12143916 core:ShareCapital 2023-08-31 12143916 core:OtherReservesSubtotal 2023-08-31 12143916 core:RetainedEarningsAccumulatedLosses 2023-08-31 12143916 core:RevaluationReserve 2022-08-31 12143916 2023-09-01 2024-08-31 12143916 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 12143916 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 12143916 bus:Director40 2023-09-01 2024-08-31 12143916 1 2023-09-01 2024-08-31 12143916 2 2023-09-01 2024-08-31 12143916 countries:England 2023-09-01 2024-08-31 12143916 bus:FRS102 2023-09-01 2024-08-31 12143916 bus:FilletedAccounts 2023-09-01 2024-08-31 12143916 2024-08-31 12143916 core:WithinOneYear 2024-08-31 12143916 core:AfterOneYear 2024-08-31 12143916 core:ShareCapital 2024-08-31 12143916 core:OtherReservesSubtotal 2024-08-31 12143916 core:RetainedEarningsAccumulatedLosses 2024-08-31 12143916 core:RevaluationReserve 2024-08-31 12143916 2023-08-31 12143916 core:RevaluationReserve 2023-08-31 iso4217:GBP xbrli:pure