Watch This Space Property Development Ltd 10337454 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is other service activities incidental to land transportation, not elsewhere classified Digita Accounts Production Advanced 6.30.9574.0 true true 10337454 2024-01-01 2024-12-31 10337454 2024-12-31 10337454 core:RetainedEarningsAccumulatedLosses 2024-12-31 10337454 core:ShareCapital 2024-12-31 10337454 core:CurrentFinancialInstruments 2024-12-31 10337454 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 10337454 core:Non-currentFinancialInstruments 2024-12-31 10337454 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 10337454 core:FurnitureFittingsToolsEquipment 2024-12-31 10337454 bus:SmallEntities 2024-01-01 2024-12-31 10337454 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 10337454 bus:FilletedAccounts 2024-01-01 2024-12-31 10337454 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 10337454 bus:RegisteredOffice 2024-01-01 2024-12-31 10337454 bus:Director1 2024-01-01 2024-12-31 10337454 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 10337454 core:ComputerEquipment 2024-01-01 2024-12-31 10337454 core:FurnitureFittings 2024-01-01 2024-12-31 10337454 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 10337454 core:PlantMachinery 2024-01-01 2024-12-31 10337454 1 2024-01-01 2024-12-31 10337454 countries:AllCountries 2024-01-01 2024-12-31 10337454 2023-12-31 10337454 core:FurnitureFittingsToolsEquipment 2023-12-31 10337454 2023-01-01 2023-12-31 10337454 2023-12-31 10337454 core:RetainedEarningsAccumulatedLosses 2023-12-31 10337454 core:ShareCapital 2023-12-31 10337454 core:CurrentFinancialInstruments 2023-12-31 10337454 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 10337454 core:Non-currentFinancialInstruments 2023-12-31 10337454 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 10337454 core:FurnitureFittingsToolsEquipment 2023-12-31 iso4217:GBP xbrli:pure

Registration number: 10337454

Watch This Space Property Development Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Watch This Space Property Development Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Watch This Space Property Development Ltd

Company Information

Director

AG Mowbray

Registered office

Kingfisher Court
Plaxton Bridge Road
Woodmansey
Beverley
East Yorkshire
HU17 0RT

 

Watch This Space Property Development Ltd

(Registration number: 10337454)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,661

4,882

Current assets

 

Debtors

5

50,280

105,886

Cash at bank and in hand

 

118,887

31,487

 

169,167

137,373

Creditors: Amounts falling due within one year

6

(102,433)

(72,065)

Net current assets

 

66,734

65,308

Total assets less current liabilities

 

69,395

70,190

Creditors: Amounts falling due after more than one year

6

(5,834)

(15,833)

Provisions for liabilities

(665)

(1,057)

Net assets

 

62,896

53,300

Capital and reserves

 

Called up share capital

2

2

Retained earnings

62,894

53,298

Shareholders' funds

 

62,896

53,300

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 20 May 2025
 

.........................................
AG Mowbray
Director

 

Watch This Space Property Development Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital incorporated in England & Wales and the company registration number is 10337454.

The address of its registered office is:
Kingfisher Court
Plaxton Bridge Road
Woodmansey
Beverley
East Yorkshire
HU17 0RT

These financial statements were authorised for issue by the director on 20 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Revenue recognition

Turnover arises from the provision of services. Turnover is measured at the fair value of the consideration received or receivable and represents amounts for the rendering of property development services in the normal course of business, net of discounts and other sales-related taxes.

Turnover from the provision of services is recognised when the service is performed.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met of each of the companies activities.

Tax

Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Watch This Space Property Development Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Deferred tax represents the future tax consequences of transactions and events recognised in the finance statements of the current and previous periods. It is recognised in respect of all timing differences, within certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense tax assessments in the periods different from those in which they are recognised in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is proabable 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 balance sheet date that are expected to apply to the reversal of the timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investemnt properties is measured using the rates and allowances that apply to the sale of the asset.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit and loss account.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss has been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in the profit and loss account.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

33% on cost (fully depreciated)

Fixtures and fittings

33% on cost

Computer equipment

33% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Watch This Space Property Development Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 2 (2023 - 2).

 

Watch This Space Property Development Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2024

50,589

50,589

Additions

2,057

2,057

At 31 December 2024

52,646

52,646

Depreciation

At 1 January 2024

45,707

45,707

Charge for the year

4,278

4,278

At 31 December 2024

49,985

49,985

Carrying amount

At 31 December 2024

2,661

2,661

At 31 December 2023

4,882

4,882

5

Debtors

Note

2024
£

2023
£

Amounts owed by group companies

9

49,677

85,939

Prepayments

 

449

560

Other debtors

 

154

19,387

 

50,280

105,886

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

10,000

10,000

Taxation and social security

 

56,651

57,024

Accruals and deferred income

 

33,371

3,751

Other creditors

 

2,411

1,290

 

102,433

72,065

 

Watch This Space Property Development Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

5,834

15,833

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

5,834

15,833

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

10,000

Bank borrowings relate to an unsecured bounce back loan.

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £37,500 (2023 - £60,000).

9

Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' not to disclose related party transactions with wholly owned subsidiaries within the group.
 

Other transactions with the Director

At the year end, the director owed the company £Nil (2023: £Nil). This amount is unsecured, interest free and repayable on demand.

 

Watch This Space Property Development Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

10

Parent and ultimate parent undertaking

The Company's immediate parent is SZR Holdings Ltd, incorporated in England & Wales.

  These financial statements are available upon request from
Kingfisher Court
Plaxton Bridge Road
Woodmansey
East Yorkshire
HU17 0RT