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Registration number: 12422329

Henry Walshe Properties Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 January 2025

 

Henry Walshe Properties Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Henry Walshe Properties Limited

(Registration number: 12422329)
Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

1,385

64

Investment property

5

1,125,000

729,526

 

1,126,385

729,590

Current assets

 

Debtors

6

7,147

5,661

Cash at bank and in hand

 

2,831

29,067

 

9,978

34,728

Creditors: Amounts falling due within one year

7

(11,148)

(48,361)

Net current liabilities

 

(1,170)

(13,633)

Total assets less current liabilities

 

1,125,215

715,957

Creditors: Amounts falling due after more than one year

7

(590,454)

(396,439)

Provisions for liabilities

(136,984)

(84,232)

Net assets

 

397,777

235,286

Capital and reserves

 

Called up share capital

9

1

1

Other reserves

410,953

252,696

Retained earnings

(13,177)

(17,411)

Shareholders' funds

 

397,777

235,286

For the financial year ending 31 January 2025 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 and 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 12 June 2025
 


Mr H G P Walshe
Director

   
 

Henry Walshe Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
12 Oswald Road
Scunthorpe
North Lincolnshire
DN15 7PT

Registration number: 12422329

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.

Revenue recognition

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.

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 for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, 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 tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in repsect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 enactied by the reporting date and that are expected to apply to the reversal of the timing differences.

 

Henry Walshe Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings & equipment

25% on written down value

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director. The director uses observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit and loss.

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.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.Trade creditors are recognised at the transaction price.

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.

 

Henry Walshe Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year was 1 (2024 - 1).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2024

143

143

Additions

1,365

1,365

At 31 January 2025

1,508

1,508

Depreciation

At 1 February 2024

79

79

Charge for the year

44

44

At 31 January 2025

123

123

Carrying amount

At 31 January 2025

1,385

1,385

At 31 January 2024

64

64

 

Henry Walshe Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

5

Investment properties

2025
£

At 1 February

729,526

Additions

184,465

Fair value adjustments

211,009

At 31 January

1,125,000

There has been no valuation of investment property by an independent valuer.

6

Debtors

Current

2025
£

2024
£

Trade debtors

6,040

4,950

Prepayments

1,107

711

 

7,147

5,661

7

Creditors

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

8

10,148

9,750

Amounts due to related parties

-

38,011

Other payables

 

1,000

600

 

11,148

48,361

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

8

590,454

396,439

 

Henry Walshe Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

8

Loans and borrowings

Current loans and borrowings

2025
£

2024
£

Bank borrowings

10,148

9,750

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

385,930

396,439

Other borrowings

204,524

-

590,454

396,439

£377,012 (2024 - £377,000) of the bank loans are secured against the properties to which they relate.

Included in the loans and borrowings are the following amounts due after more than five years:

2025
£

2024
£

Due after more than five years

After more than five years not by instalments

377,012

377,000

-

-

9

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1