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REGISTERED NUMBER: 01202055 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

WATMOUGH BROTHERS INVESTMENTS LIMITED

WATMOUGH BROTHERS INVESTMENTS LIMITED (REGISTERED NUMBER: 01202055)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WATMOUGH BROTHERS INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTOR: C C Watmough





SECRETARY: C C Watmough





REGISTERED OFFICE: 118 Upper Wickham Lane
Welling
Kent
DA16 3DR





REGISTERED NUMBER: 01202055 (England and Wales)





ACCOUNTANTS: Sargeant Partnership LLP
Chartered Accountants
5 White Oak Square
London Road
Swanley
Kent
BR8 7AG

WATMOUGH BROTHERS INVESTMENTS LIMITED (REGISTERED NUMBER: 01202055)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,250 -
Investments 5 100 100
Investment property 6 6,718,642 6,718,642
6,720,992 6,718,742

CURRENT ASSETS
Debtors 7 1,079,153 995,975
Cash at bank 15,862 77,231
1,095,015 1,073,206
CREDITORS
Amounts falling due within one year 8 279,141 321,933
NET CURRENT ASSETS 815,874 751,273
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,536,866

7,470,015

CREDITORS
Amounts falling due after more than one
year

9

(2,548,333

)

(2,558,333

)

PROVISIONS FOR LIABILITIES 12 (569,812 ) (570,131 )
NET ASSETS 4,418,721 4,341,551

WATMOUGH BROTHERS INVESTMENTS LIMITED (REGISTERED NUMBER: 01202055)

BALANCE SHEET - continued
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 13 2,000 2,000
Investment Property Reserve 14 3,104,753 3,104,753
Retained earnings 14 1,311,968 1,234,798
SHAREHOLDERS' FUNDS 4,418,721 4,341,551

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 15 January 2025 and were signed by:





C C Watmough - Director


WATMOUGH BROTHERS INVESTMENTS LIMITED (REGISTERED NUMBER: 01202055)

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

1. STATUTORY INFORMATION

Watmough Brothers Investments 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents invoiced rentals received from investment properties.

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 - 25% per annum on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.


WATMOUGH BROTHERS INVESTMENTS LIMITED (REGISTERED NUMBER: 01202055)

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

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 February 2023 10,497 - 10,497
Additions - 2,250 2,250
At 31 January 2024 10,497 2,250 12,747
DEPRECIATION
At 1 February 2023
and 31 January 2024 10,497 - 10,497
NET BOOK VALUE
At 31 January 2024 - 2,250 2,250
At 31 January 2023 - - -

WATMOUGH BROTHERS INVESTMENTS LIMITED (REGISTERED NUMBER: 01202055)

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

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 February 2023
and 31 January 2024 100
NET BOOK VALUE
At 31 January 2024 100
At 31 January 2023 100

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023
and 31 January 2024 6,718,642
NET BOOK VALUE
At 31 January 2024 6,718,642
At 31 January 2023 6,718,642

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2017 3,674,884
Cost 3,043,758
6,718,642

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 90,354 106,891
Amounts owed by group undertakings 984,352 855,981
Amounts owed by participating interests 4,065 2,867
Other debtors - 16,427
Section 455 Tax Recoverable - 13,809
Prepayments and accrued income 382 -
1,079,153 995,975

WATMOUGH BROTHERS INVESTMENTS LIMITED (REGISTERED NUMBER: 01202055)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 10) 10,000 10,000
Trade creditors 1,571 4,526
Amounts owed to participating interests 42,058 25,927
Tax 37,128 37,516
Other creditors 54,839 96,928
Credit Card 7,025 -
Directors' loan accounts 61,274 92,842
Accruals and deferred income 65,246 54,194
279,141 321,933

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans (see note 10) 2,308,333 2,318,333
Other loans (see note 10) 240,000 240,000
2,548,333 2,558,333

10. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans - less than 1 yr 10,000 10,000

Amounts falling due between one and two years:
Bank loans 2,305,000 2,305,000
Loan from N A Watmough and C C
Watmough 240,000 240,000
2,545,000 2,545,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 3,333 13,333

WATMOUGH BROTHERS INVESTMENTS LIMITED (REGISTERED NUMBER: 01202055)

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

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 2,318,333 2,328,333

The company's bank loan with Svenska Handelsbanken AB (publ) is secured by a charge over certain investment properties.

12. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Other timing differences 570,131 570,131
Accelerated capital allowances (319 ) -
569,812 570,131

Deferred
tax
£   
Balance at 1 February 2023 570,131
Provided during year (319 )
investment property valuation
Balance at 31 January 2024 569,812

Deferred tax has been provided in respect of fair value gains and losses on investment property, in line with Financial Reporting Standard 102.

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2,000 Ordinary £1 2,000 2,000

WATMOUGH BROTHERS INVESTMENTS LIMITED (REGISTERED NUMBER: 01202055)

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

14. RESERVES
Investment
Retained Property
earnings Reserve Totals
£    £    £   

At 1 February 2023 1,234,798 3,104,753 4,339,551
Profit for the year 81,170 81,170
Dividends (4,000 ) (4,000 )
At 31 January 2024 1,311,968 3,104,753 4,416,721

The Investment Property Reserve is non-distributable. It represents movements in property valuations less provisions for the notional tax that would arise on gains if the properties were to be sold for the revalued amounts.

15. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The director and their spouse received dividends during the year totalling £4,000 (2023: £8,000).

At the balance sheet date, the company owed C Watmough £61,274 (2023: £56,699).

At the balance sheet date, the company owed the estate of N A Watmough £Nil (2023: £36,143).


C Watmough and N A Watmough each loaned £200,000 by unsecured loan repayable in 2026 with interest charged at 10% per annum. At 31 January 2024 the capital outstanding was £240,000 (2023: £240,000). These are personal loans and the interest sits with the directors personally not the company, therefore, interest is not accrued in the accounts.

16. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

At the balance sheet date Watmough Brothers Investments Limited owed £4,826 (2023: £25,927) to Watmough Grandchildrens Settlement Trust. The director is a Trustee for this trust.

At the balance sheet date Watmough Brothers Investments Limited owed £37,232 (2023: £Nil) to Lewisham Properties LLP. They are related through common interest of the director.

At the balance sheet date Watmough & Co Limited owed £4,065 (2023: £2,867) to Watmough Brothers Investments Limited. The Director owns both the companies.

17. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties during the year were the estate of NA Watmough, Mr CC Watmough and his wife, by virtue of their shareholdings.