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REGISTERED NUMBER: 10836651 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Wedge Property Portfolio Limited

Wedge Property Portfolio Limited (Registered number: 10836651)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Wedge Property Portfolio Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: P Wedge





REGISTERED OFFICE: Haybarn
Dye House Lane
Thursley
Surrey
GU8 6QN





REGISTERED NUMBER: 10836651 (England and Wales)





ACCOUNTANTS: Butler & Co Alresford Limited
Chartered Accountants
The Old Stables
Sutton Manor Farm
Bishops Sutton
Alresford
Hampshire
SO24 0AA

Wedge Property Portfolio Limited (Registered number: 10836651)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 1,035,000 1,035,000
1,035,000 1,035,000

CURRENT ASSETS
Debtors 6 1,920 -
Cash at bank 71,042 57,009
72,962 57,009
CREDITORS
Amounts falling due within one year 7 781,526 783,546
NET CURRENT LIABILITIES (708,564 ) (726,537 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

326,436

308,463

PROVISIONS FOR LIABILITIES 8 56,678 56,678
NET ASSETS 269,758 251,785

CAPITAL AND RESERVES
Called up share capital 9 100 100
Fair value reserve - non-distributable 241,626 241,626
Retained earnings 28,032 10,059
SHAREHOLDERS' FUNDS 269,758 251,785

Wedge Property Portfolio Limited (Registered number: 10836651)

Balance Sheet - continued
30 June 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 19 March 2025 and were signed by:





P Wedge - Director


Wedge Property Portfolio Limited (Registered number: 10836651)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Wedge Property Portfolio 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.

The director considers the use of the going concern basis of accounting appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern. The financial statements have therefore been prepared on a going concern basis. The director has confirmed that he will continue to support the company and will not recall his loan if it would render the company unable to pay its liabilities as they fall due.

Turnover
Turnover represents net invoiced rent receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Computer equipment - 33% on cost

Investment property
Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in the fair value is recognised in the Income Statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

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 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

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

Wedge Property Portfolio Limited (Registered number: 10836651)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 July 2023
and 30 June 2024 1,088
DEPRECIATION
At 1 July 2023
and 30 June 2024 1,088
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 1,035,000
NET BOOK VALUE
At 30 June 2024 1,035,000
At 30 June 2023 1,035,000

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2022 298,304
Cost 736,696
1,035,000

If investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 736,696 736,696

Investment properties were valued on an open market basis on 30 June 2024 by Mr P Wedge, the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,920 -

Wedge Property Portfolio Limited (Registered number: 10836651)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Corporation tax 4,216 1,748
Wedge Asset Management Limited 14,296 27,480
Director's loan account 760,614 751,918
Accruals and deferred income 2,400 2,400
781,526 783,546

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Property revaluations 56,678 56,678

Deferred
tax
£   
Balance at 1 July 2023 56,678
Unrelieved property losses
Balance at 30 June 2024 56,678

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
97 Ordinary £1 97 97
1 Ordinary 'A' £1 1 1
1 Ordinary 'B' £1 1 1
1 Ordinary 'C' £1 1 1
100 100

The Ordinary shares, 'A', 'B' and 'C' shares shall rank pari passu in all respects except that dividends may be paid to the holders of one or more classes of shares to the exclusion of the other at the director's discretion.

Wedge Property Portfolio Limited (Registered number: 10836651)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

10. RELATED PARTY DISCLOSURES

Mr P Wedge
Director

During the period under review Mr P Wedge made purchases on behalf of the company amounting to £5,057 (2023 - £4,856).

Wedge Asset Management Limited
During the period under review the company paid consultancy fees amounting to £16,800 (2023 - £16,800) to Wedge Asset Management Limited, a company under the common control of the director and majority shareholder.


Balance due to/(from) related party at balance sheet date: 2024 2023
£ £
Mr P Wedge 760,614 751,918
Wedge Asset Management Limited 14,296 27,480

11. ULTIMATE CONTROLLING PARTY

During the period under review the company was under the control of Mr P Wedge, the sole director and majority shareholder.