Registered number
03820570
Wheatcroft Property Limited
Unaudited Filleted Accounts
31 December 2024
Wheatcroft Property Limited
Registered number: 03820570
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 5,442,495 5,403,937
Current assets
Debtors 4 187,945 112,047
Cash at bank and in hand 277,541 432,242
465,486 544,289
Creditors: amounts falling due within one year 5 (791,595) (940,991)
Net current liabilities (326,109) (396,702)
Total assets less current liabilities 5,116,386 5,007,235
Provisions for liabilities (120,453) (109,525)
Net assets 4,995,933 4,897,710
Capital and reserves
Called up share capital 11,575 11,575
Share premium 4,167,849 4,167,849
Profit and loss account 816,509 718,286
Shareholders' funds 4,995,933 4,897,710
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
C A Wheatcroft
Director
Approved by the board on 27 May 2025
Wheatcroft Property Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of land and buildings and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents rental income and recharges for the year.

Rentals received under operating leases are credited to revenue on a straight line basis over the lease terms.

Wayleaves received are charged to the profit and loss on a straight line basis.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures and fittings over 3 & 5 years
Investment properties
The investment properties are revalued annually by the directors at fair value. Any surplus or deficit on revaluation is recognised in the profit or loss in the year they occur and are then transferred to the revaluation reserve.

No depreciation is provided in respect of the investment properties.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Investment properties Plant and machinery Fixtures and fittings Total
£ £ £ £
Cost
At 1 January 2024 5,403,937 74,564 969 5,479,470
Additions - 44,617 3,845 48,462
Disposals - - (969) (969)
At 31 December 2024 5,403,937 119,181 3,845 5,526,963
Depreciation
At 1 January 2024 - 74,564 969 75,533
Charge for the year - 8,923 981 9,904
On disposals - - (969) (969)
At 31 December 2024 - 83,487 981 84,468
Net book value
At 31 December 2024 5,403,937 35,694 2,864 5,442,495
At 31 December 2023 5,403,937 - - 5,403,937
Investment properties: 2024 2023
£ £
Historical cost 5,403,937 5,403,937
Cumulative depreciation based on historical cost - -
5,403,937 5,403,937
The investment properties have been valued by the directors at a value of £5,403,937 (2023 - £5,403,937) the director's consider this still to be the fair value.
4 Debtors 2024 2023
£ £
Trade debtors 125,379 62,993
Other debtors 62,566 49,054
187,945 112,047
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 31,122 21,304
Taxation and social security costs 55,666 136,835
Other creditors 704,807 782,852
791,595 940,991
6 Revaluation reserve 2024 2023
£ £
At 1 January 2024 - 823,588
Loss on revaluation of investment properties - (1,096,063)
Deferred taxation arising on the revaluation of investment properties - 272,475
At 31 December 2024 - -
7 Events after the reporting date
During 2021 the company agreed to sell some land for £1,000,000 to Averill Land Limited. At the year end the transaction had not been completed.
8 Loans to directors
Loan is repayable on demand, no interest has been charged B/fwd Paid Repaid C/fwd
£ £ £ £
O M Wheatcroft
Loan - 294 - 294
- 294 - 294
9 Related party transactions
During the year the company rented a unit to Perrymead Estates Limited, a company in which Mr O. Wheatcroft is a director and shareholder. No rent was charged, but Perrymead Estates Limited accepted responsibility for the business rates and any maintenance required.
10 Other information
Wheatcroft Property Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Business Workshop
Roseway House, Landmere Lane
Nottingham
Nottinghamshire
NG12 4DG
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