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Registration number: 12316259

Wavertree Student Homes Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2023

 

Wavertree Student Homes Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Wavertree Student Homes Ltd

Company Information

Director

Mr Thomas McConnon

Registered office

The Lexington Apartment 2709
4 William Jessop Way
Liverpool
L3 1AT

Accountants

RiverView Portfolio Limited
1 Market Hill
Calne
Wiltshire
SN11 0BT

 

Wavertree Student Homes Ltd

(Registration number: 12316259)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

3,293

1,170

Investment property

6

3,591,000

2,570,000

 

3,594,293

2,571,170

Current assets

 

Debtors

7

114,402

26,185

Cash at bank and in hand

 

26,173

34,318

 

140,575

60,503

Creditors: Amounts falling due within one year

8

(43,446)

(9,122)

Net current assets

 

97,129

51,381

Total assets less current liabilities

 

3,691,422

2,622,551

Creditors: Amounts falling due after more than one year

8

(3,054,456)

(1,639,769)

Provisions for liabilities

(193,701)

(229,467)

Net assets

 

443,265

753,315

Capital and reserves

 

Called up share capital

1

1

Revaluation reserve

827,178

978,254

Retained earnings

(383,914)

(224,940)

Shareholders' funds

 

443,265

753,315

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 18 November 2024
 

 

Wavertree Student Homes Ltd

(Registration number: 12316259)
Balance Sheet as at 30 November 2023 (continued)

.........................................
Mr Thomas McConnon
Director

 

Wavertree Student Homes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Lexington Apartment 2709
4 William Jessop Way
Liverpool
L3 1AT

These financial statements were authorised for issue by the director on 18 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

25% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Wavertree Student Homes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

2

Accounting policies (continued)

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Loss before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

1,865

868

 

Wavertree Student Homes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 December 2022

3,472

3,472

Additions

3,989

3,989

At 30 November 2023

7,461

7,461

Depreciation

At 1 December 2022

2,302

2,302

Charge for the year

1,866

1,866

At 30 November 2023

4,168

4,168

Carrying amount

At 30 November 2023

3,293

3,293

At 30 November 2022

1,170

1,170

6

Investment properties

2023
£

At 1 December

2,570,000

Additions

1,207,842

Fair value adjustments

(186,842)

At 30 November

3,591,000

The fair value of the properties at the year end have been arrived at on the basis of a valuation carried out at that date by the director of the company, who is not a professionally qualified valuer. The valuation was arrived at by reference to the market evidence of transaction prices for similar properties in the location the properties are situated

7

Debtors

Current

2023
£

2022
£

Prepayments

4,556

2,661

Other debtors

109,846

23,524

 

114,402

26,185

 

Wavertree Student Homes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

(182)

(182)

Taxation and social security

29,970

-

Accruals and deferred income

495

495

Other creditors

13,163

8,809

43,446

9,122

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

3,054,456

1,639,769

9

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

(151,076)

(151,076)

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

499,457

499,457

10

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Other borrowings

3,054,456

1,639,769