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Registration number: 10400170

Four Walls Property Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Four Walls Property Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 10

 

Four Walls Property Ltd

Company Information

Directors

Mr Alexander Thomas Wall

Mr Jacob Thomas Wall

Mrs Rachel Jane Wall

Registered office

Bank View Farm
Lane Head Road
Sheffield
South Yorkshire
S17 3BD

Bankers

Barclays Bank PLC
Leicester LE87 2BB

Accountants

Millhouses Accountancy Ltd
Millhouses Business Centre
2-4 Abbeydale Road South
Sheffield
South Yorkshire
S7 2QN

 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Four Walls Property Ltd
for the Year Ended 30 September 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Four Walls Property Ltd for the year ended 30 September 2024 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Four Walls Property Ltd, as a body. Our work has been undertaken solely to prepare for your approval the accounts of Four Walls Property Ltd and state those matters that we have agreed to state to the Board of Directors of Four Walls Property Ltd, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Four Walls Property Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Four Walls Property Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Four Walls Property Ltd. You consider that Four Walls Property Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Four Walls Property Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Millhouses Accountancy Ltd
Millhouses Business Centre
2-4 Abbeydale Road South
Sheffield
South Yorkshire
S7 2QN

19 June 2025

 

Four Walls Property Ltd

(Registration number: 10400170)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,520,512

1,546,196

Current assets

 

Debtors

5

7,481

10,952

Cash at bank and in hand

 

61,321

23,890

 

68,802

34,842

Creditors: Amounts falling due within one year

6

(35,688)

(27,631)

Net current assets

 

33,114

7,211

Total assets less current liabilities

 

1,553,626

1,553,407

Creditors: Amounts falling due after more than one year

6

(1,486,721)

(1,507,827)

Net assets

 

66,905

45,580

Capital and reserves

 

Called up share capital

7

2,000

2,000

Retained earnings

64,905

43,580

Shareholders' funds

 

66,905

45,580

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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, and in accordance with FRS102 'The financial reporting standard applicable in the UK and the Republic of Ireland'.

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 June 2025 and signed on its behalf by:
 

.........................................
Mrs Rachel Jane Wall
Director

 

Four Walls Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

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

The address of its registered office is:
Bank View Farm
Lane Head Road
Sheffield
South Yorkshire
S17 3BD

These financial statements were authorised for issue by the Board on 19 June 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, 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 taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

The current income 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.

 

Four Walls Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Tangible assets

Tangible assets are stated in the balance sheet 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.

Depreciation

Depreciation is charged so as to write off the cost of freehold and leasehold buildings (not including the cost of land) over the life of the building. Some buildings are depreciated over 60 years whilst one is depreciated over 30 years.

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 merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, 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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

 

Four Walls Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

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 directors) during the year was 3 (2023 - 3).

4

Tangible assets

Land and buildings
£

Long leasehold land and buildings
£

Plant and machinery
£

Office equipment
£

Cost or valuation

At 1 October 2023

1,437,811

207,563

6,058

408

Additions

-

-

450

-

At 30 September 2024

1,437,811

207,563

6,508

408

Depreciation

At 1 October 2023

100,413

18,372

4,591

135

Charge for the year

18,864

2,626

747

135

At 30 September 2024

119,277

20,998

5,338

270

Carrying amount

At 30 September 2024

1,318,534

186,565

1,170

138

At 30 September 2023

1,337,398

189,191

1,467

273

 

Four Walls Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2023

18,807

1,670,647

Additions

-

450

At 30 September 2024

18,807

1,671,097

Depreciation

At 1 October 2023

940

124,451

Charge for the year

3,762

26,134

At 30 September 2024

4,702

150,585

Carrying amount

At 30 September 2024

14,105

1,520,512

At 30 September 2023

17,867

1,546,196

Included within the net book value of land and buildings above is £1,318,533 (2023 - £1,337,397) in respect of freehold land and buildings and £186,565 (2023 - £189,191) in respect of l leasehold land and buildings.
 

5

Debtors

Current

2024
£

2023
£

Trade debtors

5,190

8,405

Prepayments

2,291

2,547

 

7,481

10,952

 

Four Walls Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

20,344

12,070

Taxation and social security

10,955

10,475

Accruals and deferred income

800

1,500

Other creditors

3,589

3,586

35,688

27,631

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

1,486,721

1,507,827

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary Shares 2,000 Ordinary shares of £1 each

2,000

2,000

2,000

2,000

         

8

Related party transactions

 

Four Walls Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Transactions with directors
At 30th September 2024 £1,486,721 was owed by the company in respect of Directors Loans. At 30th September 2023 £1,507,827 was owing.

 

 

Four Walls Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

17,997

27,870