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WHEELHOUSE DEVELOPMENTS
LIMITED

REPORT OF THE DIRECTORS AND

ABRIDGED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 SEPTEMBER 2024






WHEELHOUSE DEVELOPMENTS
LIMITED (REGISTERED NUMBER: 03624880)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 September 2024










Page

Company Information 1

Report of the Directors 2

Statement of Financial Position 3

Notes to the Financial Statements 5


WHEELHOUSE DEVELOPMENTS
LIMITED

COMPANY INFORMATION
for the year ended 30 September 2024







DIRECTORS: M T O'Donoghue
J D M Hillen



SECRETARY: M T O'Donoghue



REGISTERED OFFICE: 4 Churchill Court
58 Station Road
North Harrow
Middlesex
HA2 7ST



REGISTERED NUMBER: 03624880 (England and Wales)



ACCOUNTANTS: ADAMS MOORHOUSE LIMITED, Chartered Accountants
4 Churchill Court
58 Station Road
North Harrow
Middlesex
HA2 7ST



BANKERS: National Westminster Bank PLC
Canterbury City Centre Branch
Western Avenue
Waterside
Chatham Maritime
Kent
ME4 4RT

WHEELHOUSE DEVELOPMENTS
LIMITED (REGISTERED NUMBER: 03624880)

REPORT OF THE DIRECTORS
for the year ended 30 September 2024


The directors present their report with the financial statements of the company for the year ended 30 September 2024.

FUTURE DEVELOPMENTS
No major developments are planned for the ensuing year.


DIRECTORS
The directors shown below have held office during the whole of the period from 1 October 2023 to the date of this report.

M T O'Donoghue
J D M Hillen

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





J D M Hillen - Director


1 May 2025

WHEELHOUSE DEVELOPMENTS
LIMITED (REGISTERED NUMBER: 03624880)

STATEMENT OF FINANCIAL POSITION
30 September 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 5 - -
Investment property 6 290,000 270,000
290,000 270,000

CURRENT ASSETS
Cash at bank 8,610 6,044

CREDITORS
Amounts falling due within one year 7 155,444 154,190
NET CURRENT LIABILITIES (146,834 ) (148,146 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

143,166

121,854

PROVISIONS FOR LIABILITIES 26,861 17,088
NET ASSETS 116,305 104,766

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Revaluation reserve 8 80,582 70,354
Retained earnings 34,723 33,412
SHAREHOLDERS' FUNDS 116,305 104,766

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 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.

WHEELHOUSE DEVELOPMENTS
LIMITED (REGISTERED NUMBER: 03624880)

STATEMENT OF FINANCIAL POSITION - continued
30 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 1 May 2025 and were signed on its behalf by:





J D M Hillen - Director


WHEELHOUSE DEVELOPMENTS
LIMITED (REGISTERED NUMBER: 03624880)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 September 2024


1. STATUTORY INFORMATION

Wheelhouse Developments 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents rents received during the year. The company is not registered for value added tax.

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 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.

4. EMPLOYEES AND DIRECTORS

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

WHEELHOUSE DEVELOPMENTS
LIMITED (REGISTERED NUMBER: 03624880)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2024


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
Cost
At 1 October 2023
and 30 September 2024 5,929
Depreciation
At 1 October 2023
and 30 September 2024 5,929
Net book value
At 30 September 2024 -

6. INVESTMENT PROPERTY
Total
£   
Fair value
At 1 October 2023 270,000
Revaluations 20,000
At 30 September 2024 290,000
Net book value
At 30 September 2024 290,000
At 30 September 2023 270,000

Fair value at 30 September 2024 is represented by:
£   
Valuation in 2007 33,500
Valuation in 2010 (15,000 )
Valuation in 2014 5,000
Valuation in 2016 23,942
Valuation in 2018 20,000
Valuation in 2021 20,000
Valuation in 2024 20,000
Cost 182,558
290,000

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

2024 2023
£    £   
Cost 182,558 182,558

Investment properties were valued on an open market basis on 30 September 2024 by the directors. .

WHEELHOUSE DEVELOPMENTS
LIMITED (REGISTERED NUMBER: 03624880)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
UK Corporation Tax 9 -
Directors' current accounts 153,103 152,323
Accrued expenses 2,332 1,867
155,444 154,190

8. RESERVES
Revaluation
reserve
£   
At 1 October 2023 70,354
Revaluation of properties 10,228

At 30 September 2024 80,582

9. CONTINGENT LIABILITIES

As far as the Board is aware, there were no contingent liabilities at the balance sheet date.


10. ULTIMATE CONTROLLING PARTY

The controlling party is M T O'Donoghue.