Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-302024-09-30194000019400002025-05-222true2023-10-01falseNo description of principal activity2trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09656005 2023-10-01 2024-09-30 09656005 2022-10-01 2023-09-30 09656005 2024-09-30 09656005 2023-09-30 09656005 c:Director1 2023-10-01 2024-09-30 09656005 d:FreeholdInvestmentProperty 2024-09-30 09656005 d:FreeholdInvestmentProperty 2023-09-30 09656005 d:LeaseholdInvestmentProperty 2024-09-30 09656005 d:LeaseholdInvestmentProperty 2023-09-30 09656005 d:CurrentFinancialInstruments 2024-09-30 09656005 d:CurrentFinancialInstruments 2023-09-30 09656005 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 09656005 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 09656005 d:ShareCapital 2024-09-30 09656005 d:ShareCapital 2023-09-30 09656005 d:RevaluationReserve 2024-09-30 09656005 d:RevaluationReserve 2023-09-30 09656005 d:RetainedEarningsAccumulatedLosses 2024-09-30 09656005 d:RetainedEarningsAccumulatedLosses 2023-09-30 09656005 c:OrdinaryShareClass1 2023-10-01 2024-09-30 09656005 c:OrdinaryShareClass1 2024-09-30 09656005 c:OrdinaryShareClass1 2023-09-30 09656005 c:OrdinaryShareClass2 2023-10-01 2024-09-30 09656005 c:OrdinaryShareClass2 2024-09-30 09656005 c:OrdinaryShareClass2 2023-09-30 09656005 c:OrdinaryShareClass3 2023-10-01 2024-09-30 09656005 c:OrdinaryShareClass3 2024-09-30 09656005 c:OrdinaryShareClass3 2023-09-30 09656005 c:OrdinaryShareClass4 2023-10-01 2024-09-30 09656005 c:OrdinaryShareClass4 2024-09-30 09656005 c:OrdinaryShareClass4 2023-09-30 09656005 c:FRS102 2023-10-01 2024-09-30 09656005 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 09656005 c:FullAccounts 2023-10-01 2024-09-30 09656005 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 09656005 2 2023-10-01 2024-09-30 09656005 e:PoundSterling 2023-10-01 2024-09-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09656005









WELA PROPERTY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
WELA PROPERTY LIMITED
REGISTERED NUMBER: 09656005

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
970,000
970,000

Current assets
  

Debtors: amounts falling due within one year
 5 
2,222
2,003

Cash at bank and in hand
  
54,839
27,346

  
57,061
29,349

Creditors: amounts falling due within one year
 6 
(787,043)
(785,712)

Net current liabilities
  
 
 
(729,982)
 
 
(756,363)

  

Net assets
  
240,018
213,637


Capital and reserves
  

Called up share capital 
 7 
100
100

Revaluation reserve
  
58,282
58,282

Profit and loss account
  
181,636
155,255

  
240,018
213,637


The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

 
WELA PROPERTY LIMITED
REGISTERED NUMBER: 09656005
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J M Wong
Director

Date: 22 May 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
WELA PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

WELA Property Limited ("the company") is a private company limited by shares, incorporated in England and Wales. Its registered number is 09656005. The registered office is Leytonstone House, Leytonstone, London, E11 1GA.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis.

 
2.3

Revenue recognition

The company receives rental income in respect of its investment properties. Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
- the amount of revenue can be measured reliably;
- it is probable that the company will receive the consideration due under the lease;
- the costs incurred can be measured reliably.
The company considers that rental income becomes payable in accordance with the occupancy of the properties by its tenants, and recognises revenue accordingly. 

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Investment property

Investment property is carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the statement of income and retained earnings.

 
2.6

Debtors

Short term debtors are measured at transaction price, less any impairment.

Page 3

 
WELA PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Page 4

 
WELA PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.8

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

 
2.9

Creditors

Short term creditors are measured at the transaction price.

 
2.10

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.



3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
WELA PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


Investment property


Freehold investment property
Long term leasehold investment property
Total

£
£
£



Valuation


At 1 October 2023
750,000
220,000
970,000



At 30 September 2024
750,000
220,000
970,000

The 2024 valuations were made by the directors, on an open market value for existing use basis.





5.


Debtors

2024
2023
£
£


Other debtors
600
600

Prepayments and accrued income
1,622
1,403

2,222
2,003



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
7,887
6,520

Other creditors
774,283
774,028

Accruals and deferred income
4,873
5,164

787,043
785,712


Page 6

 
WELA PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) "A" Ordinary share of £1
1
1
1 (2023 - 1) "B" Ordinary share of £1
1
1
49 (2023 - 49) "C" Ordinary shares of £1 each
49
49
49 (2023 - 49) "D" Ordinary shares of £1 each
49
49

100

100



8.


Related party transactions

At the year end, the company owed £428 (2023 - £173) to directors.

 
Page 7