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REGISTERED NUMBER: 00209742 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 SEPTEMBER 2024

FOR

WATERLOO HOUSE (BIRMINGHAM) LIMITED

WATERLOO HOUSE (BIRMINGHAM) LIMITED (REGISTERED NUMBER: 00209742)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 SEPTEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

WATERLOO HOUSE (BIRMINGHAM) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 SEPTEMBER 2024







DIRECTORS: J P Addison
D J Suggitt
A C Gallagher
M Bhatara (Chairman)





REGISTERED OFFICE: Flint and Thompson
2 Manor Square
Solihull
West Midlands
B91 3PX





REGISTERED NUMBER: 00209742 (England and Wales)





ACCOUNTANTS: Askews Chartered Certified Accountants
5 The Quadrant
Coventry
West Midlands
CV1 2EL

WATERLOO HOUSE (BIRMINGHAM) LIMITED (REGISTERED NUMBER: 00209742)

BALANCE SHEET
29 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 7,000,000 6,800,000

CURRENT ASSETS
Debtors 5 671,299 518,671
Cash at bank 542,067 895,917
1,213,366 1,414,588
CREDITORS
Amounts falling due within one year 6 287,448 419,330
NET CURRENT ASSETS 925,918 995,258
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,925,918

7,795,258

CREDITORS
Amounts falling due after more than one
year

7

255,575

-
NET ASSETS 7,670,343 7,795,258

CAPITAL AND RESERVES
Called up share capital 8 160,000 160,000
Fair value reserve 9 4,381,912 4,181,912
Retained earnings 3,128,431 3,453,346
SHAREHOLDERS' FUNDS 7,670,343 7,795,258

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 September 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.

WATERLOO HOUSE (BIRMINGHAM) LIMITED (REGISTERED NUMBER: 00209742)

BALANCE SHEET - continued
29 SEPTEMBER 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 January 2025 and were signed on its behalf by:





M Bhatara (Chairman) - Director


WATERLOO HOUSE (BIRMINGHAM) LIMITED (REGISTERED NUMBER: 00209742)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 SEPTEMBER 2024


1. STATUTORY INFORMATION

Waterloo House (Birmingham) Limited is a private company, limited by shares, registered in England and Wales. The company's registered office is 2 Manor Square, Solihull, West Midlands, B91 3PX.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of the investment property. The principal accounting policies adopted are set out below.

Turnover
Turnover represents the total invoice value excluding value added tax of rents receivable and associated services during the year. Rent is invoiced quarterly in advance and adjusted where it is attributable to a subsequent accounting period.

As a result of adopting FRS 102 leases effective from 30 September 2016 granting incentives are recognised over the period to the termination of the lease.

The directors have taken advantage of the transitional rules of FRS 102 and any lease prior to 30 September 2016 granting incentives are recognised over the period of the lease or the right to sever the lease whichever is sooner.

Investment property
Investment properties are properties owned by the company which are held for long term rental income and capital appreciation. Investment property is initially recognised at cost, including related transaction costs. It is subsequently carried at each published balance sheet date at fair value on an open market basis as determined by the directors. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Income Statement.

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.

Deferred tax
Deferred tax is provided on gains at the rate expected to apply when the property is sold.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

WATERLOO HOUSE (BIRMINGHAM) LIMITED (REGISTERED NUMBER: 00209742)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 SEPTEMBER 2024


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 30 September 2023 6,800,000
Revaluations 200,000
At 29 September 2024 7,000,000
NET BOOK VALUE
At 29 September 2024 7,000,000
At 29 September 2023 6,800,000

Fair value at 29 September 2024 is represented by:
£   
Valuation in 2024 7,000,000

If the Investment Property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 2,621,896 2,621,896

The Investment Property was valued on a fair value basis on 29 September 2024 by the directors .

The Investment Property was also valued on a fair value basis on 29 September 2023 by the directors.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 188,142 173,242
Rent Free Period Reserve 317,770 282,300
Other debtors 60,733 13,350
VAT 36,904 -
Prepayments 67,750 49,779
671,299 518,671

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,540 64,782
Taxation and social security (35,216 ) 78,493
Other creditors 321,124 276,055
287,448 419,330

Other creditors includes outstanding dividends of £2,175 (2023 - £25,997).

WATERLOO HOUSE (BIRMINGHAM) LIMITED (REGISTERED NUMBER: 00209742)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 SEPTEMBER 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 255,575 -

8. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
160,000 Ordinary £1 160,000 160,000

9. RESERVES
Fair
value
reserve
£   
At 30 September 2023 4,181,912
Revaluation in year 200,000

At 29 September 2024 4,381,912

At 29 September 2024 the Fair Value Reserve of £4,389,528 comprises the surplus arising on the revaluation of the Investment Property, less deferred tax thereon.

10. RELATED PARTY DISCLOSURES

In addition to Directors Fees, during the year the company incurred consultancy fees from Southgate Splash Limited, a company in which Mr D J Suggitt is a director and shareholder, amounting to £10,000 (2023 - £10,000). At the balance sheet date the company owed Southgate Splash Limited £NIL (2023 - £5,000).

On the 12 July 2024 the company obtained an unsecured, interest only loan from Gallagher Finance Limited at a commercial rate, a company in which Sir A C Gallagher is a director and shareholder. At the balance sheet date, the company owed £255,575 to Gallagher Finance Limited. The loan is due for repayment on 12 July 2029.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
WATERLOO HOUSE (BIRMINGHAM) LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Waterloo House (Birmingham) Limited for the year ended 29 September 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Waterloo House (Birmingham) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Waterloo House (Birmingham) Limited and state those matters that we have agreed to state to the Board of Directors of Waterloo House (Birmingham) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Waterloo House (Birmingham) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Waterloo House (Birmingham) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Waterloo House (Birmingham) Limited. You consider that Waterloo House (Birmingham) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Waterloo House (Birmingham) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Askews Chartered Certified Accountants
5 The Quadrant
Coventry
West Midlands
CV1 2EL


Date: .............................................