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REGISTERED NUMBER: 01689568 (England and Wales)















WARBRICK PROPERTY COMPANY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






WARBRICK PROPERTY COMPANY LIMITED (REGISTERED NUMBER: 01689568)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WARBRICK PROPERTY COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mrs R J Cuthbert
Ms C L Cuthbert





REGISTERED OFFICE: Clarke Nicklin House
Brooks Drive
Cheadle Royal Business Park
Cheadle
Cheshire
SK8 3TD





REGISTERED NUMBER: 01689568 (England and Wales)





ACCOUNTANTS: Clarke Nicklin LLP
Chartered Accountants
Clarke Nicklin House
Brooks Drive
Cheadle Royal Business Park
Cheadle
Cheshire
SK8 3TD

WARBRICK PROPERTY COMPANY LIMITED (REGISTERED NUMBER: 01689568)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 36,914 47,231
Investment property 5 9,813,000 8,000,000
9,849,914 8,047,231

CURRENT ASSETS
Debtors 6 2,746,406 1,642,922
Cash at bank 63,233 1,682,014
2,809,639 3,324,936
CREDITORS
Amounts falling due within one year 7 49,573 621,846
NET CURRENT ASSETS 2,760,066 2,703,090
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,609,980

10,750,321

PROVISIONS FOR LIABILITIES 8 943,246 494,575
NET ASSETS 11,666,734 10,255,746

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 11,666,534 10,255,546
11,666,734 10,255,746

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

WARBRICK PROPERTY COMPANY LIMITED (REGISTERED NUMBER: 01689568)

BALANCE SHEET - continued
31 MARCH 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 12 September 2024 and were signed on its behalf by:





Mrs R J Cuthbert - Director


WARBRICK PROPERTY COMPANY LIMITED (REGISTERED NUMBER: 01689568)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Warbrick Property Company 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
The directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have reached this conclusion giving due consideration to the projected future performance of the company and any potential risk that might impact the company's ability to meet its required solvency levels. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

Turnover
Turnover represents rental income for the year excluding Value Added Tax together with premiums received from tenants. Amounts invoiced in advance relating to the next accounting period are included in accruals as deferred income.

Acquisitions and disposals of properties are recognised on the date of exchange of contracts for the purchase or sale, provided there is certainty at the balance sheet date that completion will take place. If completion is subject to a contingent event the purchase or sale is recognised on the date that the contingent event occurred.

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 - 10% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 10% on cost

Investment property
Investment properties are revalued at the accounting date and the aggregate surplus or temporary deficit is recognised in the profit and loss account.

Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation or amortisation is provided. Any permanent diminutions in value below cost are charged to the profit and loss account.


WARBRICK PROPERTY COMPANY LIMITED (REGISTERED NUMBER: 01689568)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 6 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 16,966 60,590 4,166 81,722
Additions - - 1,084 1,084
At 31 March 2024 16,966 60,590 5,250 82,806
DEPRECIATION
At 1 April 2023 16,847 17,041 603 34,491
Charge for year 62 10,887 452 11,401
At 31 March 2024 16,909 27,928 1,055 45,892
NET BOOK VALUE
At 31 March 2024 57 32,662 4,195 36,914
At 31 March 2023 119 43,549 3,563 47,231

WARBRICK PROPERTY COMPANY LIMITED (REGISTERED NUMBER: 01689568)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 8,000,000
Revaluations 1,813,000
At 31 March 2024 9,813,000
NET BOOK VALUE
At 31 March 2024 9,813,000
At 31 March 2023 8,000,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 9,813,000

The investment property portfolio was revalued by R J Cuthbert, a chartered surveyor and director of the company at the balance sheet date.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,217 4,286
Amounts owed by group undertakings 2,732,569 1,623,616
Other debtors - 5,476
Prepayments 9,620 9,544
2,746,406 1,642,922

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 21,850 17,564
Amounts owed to group undertakings - 352,370
Corporation tax 14,241 241,581
Social security and other taxes 5,175 3,073
Other creditors 987 849
Directors' current accounts 3,120 2,080
Accrued expenses 4,200 4,329
49,573 621,846

WARBRICK PROPERTY COMPANY LIMITED (REGISTERED NUMBER: 01689568)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 9,229 11,808
Other timing differences 934,017 482,767
943,246 494,575

Deferred
tax
£   
Balance at 1 April 2023 494,575
Provided during year 448,671
Balance at 31 March 2024 943,246

9. ULTIMATE CONTROLLING PARTY

The company is under the joint control of the directors R J Cuthbert and C L Cuthbert via their shareholding in the parent company DGD Properties Limited.