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REGISTERED NUMBER: 03130775 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

WATCHACRE PROPERTIES LIMITED

WATCHACRE PROPERTIES LIMITED (REGISTERED NUMBER: 03130775)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WATCHACRE PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2024







DIRECTOR: Miss H Parlak





REGISTERED OFFICE: Solar House
282 Chase Road
London
N14 6NZ





REGISTERED NUMBER: 03130775 (England and Wales)





ACCOUNTANTS: Freemans Partnership LLP
Chartered Certified Accountants
Solar House
282 Chase Road
London
N14 6NZ

WATCHACRE PROPERTIES LIMITED (REGISTERED NUMBER: 03130775)

BALANCE SHEET
30 NOVEMBER 2024

30.11.24 30.11.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 800 941
Investment property 5 4,458,080 4,458,080
4,458,880 4,459,021

CURRENT ASSETS
Cash at bank 31,519 55,902

CREDITORS
Amounts falling due within one year 6 755,301 794,422
NET CURRENT LIABILITIES (723,782 ) (738,520 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,735,098

3,720,501

PROVISIONS FOR LIABILITIES 7 538,311 409,115
NET ASSETS 3,196,787 3,311,386

CAPITAL AND RESERVES
Called up share capital 8 2 2
Fair value reserve 9 2,441,136 2,621,467
Retained earnings 9 755,649 689,917
SHAREHOLDERS' FUNDS 3,196,787 3,311,386

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

WATCHACRE PROPERTIES LIMITED (REGISTERED NUMBER: 03130775)

BALANCE SHEET - continued
30 NOVEMBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 May 2025 and were signed by:





Miss H Parlak - Director


WATCHACRE PROPERTIES LIMITED (REGISTERED NUMBER: 03130775)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024


1. STATUTORY INFORMATION

Watchacre Properties 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.

Turnover
Turnover represents amounts derived from rents charged to tenants during the year, and is recognised at the date the rental period occurred. This is stated after trade discounts and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

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 Statement of Income and Retained Earnings, 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

WATCHACRE PROPERTIES LIMITED (REGISTERED NUMBER: 03130775)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 December 2023
and 30 November 2024 40,447
DEPRECIATION
At 1 December 2023 39,506
Charge for year 141
At 30 November 2024 39,647
NET BOOK VALUE
At 30 November 2024 800
At 30 November 2023 941

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2023
and 30 November 2024 4,458,080
NET BOOK VALUE
At 30 November 2024 4,458,080
At 30 November 2023 4,458,080

Fair value at 30 November 2024 is represented by:
£   
Valuation in 2017 2,979,447
Cost 1,478,633
4,458,080

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Trade creditors 13,668 11,338
Tax 14,361 14,287
Social security and other taxes 2,903 13,099
Other creditors 64,547 104,547
Amounts due to related co 655,018 641,910
Directors' current accounts 1,804 3,889
Accrued expenses 3,000 5,352
755,301 794,422

WATCHACRE PROPERTIES LIMITED (REGISTERED NUMBER: 03130775)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

The bank loans and overdraft are secured on the investment properties.

7. PROVISIONS FOR LIABILITIES
30.11.24 30.11.23
£    £   
Deferred tax 538,311 409,115

Deferred
tax
£   
Balance at 1 December 2023 409,115
Provided during year 129,196
Movement during the year
Balance at 30 November 2024 538,311

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.24 30.11.23
value: £    £   
2 Ordinary shares £1 2 2

9. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 December 2023 689,917 2,621,467 3,311,384
Deficit for the year (114,599 ) (114,599 )
Fair value adjustment 180,331 (180,331 ) -
At 30 November 2024 755,649 2,441,136 3,196,785

10. ULTIMATE CONTROLLING PARTY

Mr Parlak, the director, and Miss Parlak together control the company as a result of their 100 per cent shareholding of the issued ordinary share capital of the company.