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REGISTERED NUMBER: 10584504 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Wealden Properties (2017) Limited

Wealden Properties (2017) Limited (Registered number: 10584504)






Contents of the Financial Statements
for the year ended 31 May 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Wealden Properties (2017) Limited

Company Information
for the year ended 31 May 2024







DIRECTORS: P C Baker
A C Cotonou





REGISTERED OFFICE: 99 St Johns Hill
Sevenoaks
Kent
TN13 3PE





REGISTERED NUMBER: 10584504 (England and Wales)





ACCOUNTANTS: ah partnership
Chartered Accountants
Stanley House
49 Dartford Road
Sevenoaks
Kent
TN13 3TE

Wealden Properties (2017) Limited (Registered number: 10584504)

Statement of Financial Position
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 306,128 210,392

CURRENT ASSETS
Debtors 5 1 1
Cash at bank 14,639 2,320
14,640 2,321
CREDITORS
Amounts falling due within one year 6 312,896 214,000
NET CURRENT LIABILITIES (298,256 ) (211,679 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,872

(1,287

)

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 7,871 (1,288 )
7,872 (1,287 )

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

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

Wealden Properties (2017) Limited (Registered number: 10584504)

Statement of Financial Position - continued
31 May 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 25 February 2025 and were signed on its behalf by:





P C Baker - Director


Wealden Properties (2017) Limited (Registered number: 10584504)

Notes to the Financial Statements
for the year ended 31 May 2024

1. STATUTORY INFORMATION

Wealden Properties (2017) 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.

Turnover
The company's principal activity is the rental of commercial and residential property. Turnover represents the rents receivable during the accounting period.

Investment property
Investment property is shown at most recent valuation. Any surplus or deficit arising from changes in fair value is initially recognised in the Income Statement.

As this 'surplus' is not distributable to the shareholders, the surplus or deficit, net of the deferred tax provision relating to the revaluation, is transferred to the Fair Value Reserve.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Wealden Properties (2017) Limited (Registered number: 10584504)

Notes to the Financial Statements - continued
for the year ended 31 May 2024

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 210,392
Additions 95,736
At 31 May 2024 306,128
NET BOOK VALUE
At 31 May 2024 306,128
At 31 May 2023 210,392

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 1 1

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 1,846 -
Other creditors 311,050 214,000
312,896 214,000

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
A C Cotonou
Balance outstanding at start of year 83,000 -
Amounts advanced 42,200 83,000
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 125,200 83,000

Wealden Properties (2017) Limited (Registered number: 10584504)

Notes to the Financial Statements - continued
for the year ended 31 May 2024

8. RELATED PARTY DISCLOSURES

The £125,200 loan from the director, A C Cotonou, is included in other creditors. This loan is repayable on demand.

Also included in other creditors is an amount of £174,200 loaned by Wealden Properties (Sevenoaks) Limited, a company under common control. This loan is repayable on demand.

9. ULTIMATE CONTROLLING PARTY

The controlling party is the board of directors.

The ultimate controlling party is Mr R D W Terry, by virtue of his shareholding.