Company registration number 14365280 (England and Wales)
WAYSIDE PROPERTY HOLDINGS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
WAYSIDE PROPERTY HOLDINGS LTD
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 6
WAYSIDE PROPERTY HOLDINGS LTD
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
4
1,585,000
1,585,000
Investments
5
4,750,000
5,800,000
6,335,000
7,385,000
Current assets
Debtors
-
0
95,880
Cash at bank and in hand
330,130
85,876
330,130
181,756
Creditors: amounts falling due within one year
(279,381)
(168,765)
Net current assets
50,749
12,991
Total assets less current liabilities
6,385,749
7,397,991
Provisions for liabilities
(151,850)
(151,850)
Net assets
6,233,899
7,246,141
WAYSIDE PROPERTY HOLDINGS LTD
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
2024
2023
Notes
£
£
£
£
- 2 -
Capital and reserves
Called up share capital
5,800,000
5,800,000
Share premium account
2
2
Profit and loss reserves
433,897
1,446,139
Total equity
6,233,899
7,246,141

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 24 March 2025 and are signed on its behalf by:
Mr R Horton
Mrs C Horton
Director
Director
Company registration number 14365280 (England and Wales)
WAYSIDE PROPERTY HOLDINGS LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
Share capital
Share premium account
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 20 September 2022
-
0
-
0
-
0
-
Period ended 30 September 2023:
Profit and total comprehensive income
-
-
1,762,999
1,762,999
Issue of share capital
5,800,000
2
-
5,800,002
Dividends
-
-
(316,860)
(316,860)
Balance at 30 September 2023
5,800,000
2
1,446,139
7,246,141
Year ended 30 September 2024:
Loss and total comprehensive income
-
-
(710,442)
(710,442)
Dividends
-
-
(301,800)
(301,800)
Balance at 30 September 2024
5,800,000
2
433,897
6,233,899
WAYSIDE PROPERTY HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
1
Accounting policies
Company information

Wayside Property Holdings Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 15 Home Farm, Luton Hoo Estate, Bedfordshire, LU1 3TD. The place of business of the company is 2 Douglas Road, Harpenden, Hertfordshire, AL5 2EW.

1.1
Accounting convention

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 investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Rental income is recognised when it is probable that the economic benefits will flow to the company and the amount of revenue can be measured reliably. Rental income is accrued on a time basis.

 

Dividend income from investments is recognised when the shareholder's right to receive payment has been established.

 

Interest income is recognised when it is probable that the economic benefits will flow to the company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding and the effective interest rate applicable.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

WAYSIDE PROPERTY HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.6
Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities in the accounts. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities recognised on this basis in the balance sheet include other debtors, cash and bank balances, taxation and other creditors.

 

All basic financial instruments are initially measured at transaction price and then carried at that amount less any provision for impairment, where relevant.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences. Such liabilities are not recognised if the timing difference arises from goodwill.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled. Deferred tax is charged in the profit and loss account.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

 

In preparing these accounts the directors have given consideration to the effect on assets and liabilities at the balance sheet date. In respect of investment property adjustment has been made to reflect fair value at the balance sheet date. Other assets have been reviewed at the year end and where appropriate provision made for impairment.

WAYSIDE PROPERTY HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
4
Investment property
2024
£
Fair value
At 1 October 2023 and 30 September 2024
1,585,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
4,750,000
5,800,000
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 October 2023 & 30 September 2024
5,800,000
Impairment
At 1 October 2023
-
Impairment losses
1,050,000
At 30 September 2024
1,050,000
Carrying amount
At 30 September 2024
4,750,000
At 30 September 2023
5,800,000
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