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Company No: 13639193 (England and Wales)

W E J PROPERTIES LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

W E J PROPERTIES LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

W E J PROPERTIES LIMITED

BALANCE SHEET

As at 30 September 2024
W E J PROPERTIES LIMITED

BALANCE SHEET (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 15,532 16,736
Investment property 4 1,295,410 1,295,410
1,310,942 1,312,146
Current assets
Debtors 5 0 7,128
Cash at bank and in hand 8,363 75,350
8,363 82,478
Creditors: amounts falling due within one year 6 ( 938,861) ( 1,063,764)
Net current liabilities (930,498) (981,286)
Total assets less current liabilities 380,444 330,860
Creditors: amounts falling due after more than one year 7 ( 301,494) ( 281,114)
Net assets 78,950 49,746
Capital and reserves
Called-up share capital 100 100
Profit and loss account 78,850 49,646
Total shareholder's funds 78,950 49,746

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

Directors' responsibilities:

The financial statements of W E J Properties Limited (registered number: 13639193) were approved and authorised for issue by the Board of Directors on 15 May 2025. They were signed on its behalf by:

S R Godden
Director
W E J PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
W E J PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

W E J Properties Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, Dorset, BH15 2PW, United Kingdom. The principal place of business is 25 Clifton Road, Poole, Dorset, BH14 9PW.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of rebates and discounts and after eliminating sales within the company.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Fixtures and fittings 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Fixtures and fittings Total
£ £
Cost
At 01 October 2023 27,458 27,458
Additions 3,667 3,667
At 30 September 2024 31,125 31,125
Accumulated depreciation
At 01 October 2023 10,722 10,722
Charge for the financial year 4,871 4,871
At 30 September 2024 15,593 15,593
Net book value
At 30 September 2024 15,532 15,532
At 30 September 2023 16,736 16,736

4. Investment property

Investment property
£
Valuation
As at 01 October 2023 1,295,410
As at 30 September 2024 1,295,410

5. Debtors

2024 2023
£ £
Other debtors 0 7,128

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans (secured) 0 17,470
Trade creditors 378 0
Taxation and social security 7,132 7,995
Other creditors 931,351 1,038,299
938,861 1,063,764

The bank loan is secured on freehold properties of the Company with a carrying value of £1,295,410 (2022: £1,295,410).

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 301,494 281,114

The bank loan is secured on freehold properties of the Company with a carrying value of £1,295,410 (2022: £1,295,410).