| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 30 September 2024 |
| for |
| WESTON PROPERTY HOLDINGS LIMITED |
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 30 September 2024 |
| for |
| WESTON PROPERTY HOLDINGS LIMITED |
| WESTON PROPERTY HOLDINGS LIMITED (REGISTERED NUMBER: 05656541) |
| Contents of the Financial Statements |
| for the Year Ended 30 September 2024 |
| Page |
| Statement of Financial Position | 1 |
| Notes to the Financial Statements | 3 |
| WESTON PROPERTY HOLDINGS LIMITED (REGISTERED NUMBER: 05656541) |
| Statement of Financial Position |
| 30 September 2024 |
| 30.9.24 | 30.9.23 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 9 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | 12 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Fair Value Reserve | 13 |
| Retained earnings | 13 |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| WESTON PROPERTY HOLDINGS LIMITED (REGISTERED NUMBER: 05656541) |
| Statement of Financial Position - continued |
| 30 September 2024 |
| The financial statements were approved by the director and authorised for issue on |
| WESTON PROPERTY HOLDINGS LIMITED (REGISTERED NUMBER: 05656541) |
| Notes to the Financial Statements |
| for the Year Ended 30 September 2024 |
| 1. | STATUTORY INFORMATION |
| Weston Property Holdings Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 05656541 and the registered office address is 7 Marconi Gate, Staffordshire Technology Park, Stafford, Staffordshire, ST18 0FZ. The business trading address is Hollies Business Park, Hollies Park Road, Cannock, Staffordshire, WS11 1DW. |
| The principal activity during the year was that of property investment and rental income. |
| The presentation of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Significant judgements and estimates |
| The preparation of the financial statements in conformity with generally accepted accounting principles requires the Directors to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results in the future could differ from those estimates. Management considers that certain accounting assumptions relating to revenue, taxation and investment property valuations are its critical accounting policies. |
| Turnover |
| Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of consideration due. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Computer equipment | - |
| Investment property |
| Investment properties are properties held to earn rentals and/or capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effect on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise. |
| Investment properties whose fair value cannot be measured reliably without undue or cost or effort on an on-going basis are included in plant, property and equipment at cost less accumulated depreciation and accumulated impairment losses. |
| WESTON PROPERTY HOLDINGS LIMITED (REGISTERED NUMBER: 05656541) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2024 |
| 3. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| 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. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Going concern |
| There has been a change of tenant in the current year. There is a lease agreement in place for the following 12 months. The director considers the company to be a going concern due to a consistent tenant in the property. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Computer |
| fittings | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 October 2023 |
| and 30 September 2024 |
| DEPRECIATION |
| At 1 October 2023 |
| Charge for year |
| At 30 September 2024 |
| NET BOOK VALUE |
| At 30 September 2024 |
| At 30 September 2023 |
| WESTON PROPERTY HOLDINGS LIMITED (REGISTERED NUMBER: 05656541) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2024 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 October 2023 |
| Revaluations | 277,000 |
| At 30 September 2024 |
| NET BOOK VALUE |
| At 30 September 2024 |
| At 30 September 2023 |
| Unit 5 The Hollies was valued by the Valuation Office Agency at £987,000 on 28th January 2025, which the director considers to be relevant at 30th September 2024. |
| Fair value at 30 September 2024 is represented by: |
| £ |
| Valuation in 2023 | 4,855 |
| Valuation in 2024 | 277,000 |
| Cost | 705,145 |
| 987,000 |
| 7. | DEBTORS |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Loan | - | 43,212 |
| Prepayments and accrued income |
| Amounts falling due after more than one year: |
| Loan | - | 116,091 |
| Aggregate amounts |
| WESTON PROPERTY HOLDINGS LIMITED (REGISTERED NUMBER: 05656541) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2024 |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Social security and other taxes |
| Income tax withheld | - | 145 |
| VAT | 2,857 | 7,047 |
| Other creditors |
| Directors' current accounts | 1,895 | 47,737 |
| Accrued expenses |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| Bank loans more 5 yr by instal |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 389,399 | 389,399 |
| 10. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Between one and five years |
| 11. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Bank Loans | 389,399 | 389,399 |
| The loan is secured by a charge over the property. |
| WESTON PROPERTY HOLDINGS LIMITED (REGISTERED NUMBER: 05656541) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2024 |
| 12. | PROVISIONS FOR LIABILITIES |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Deferred tax | 70,766 | 1,229 |
| Deferred |
| tax |
| £ |
| Balance at 1 October 2023 |
| Provided during year |
| Balance at 30 September 2024 |
| 13. | RESERVES |
| Fair |
| Retained | Value |
| earnings | Reserve | Totals |
| £ | £ | £ |
| At 1 October 2023 | 432,743 |
| Profit for the year |
| Revaluation of property | (277,000 | ) | 207,459 | (69,541 | ) |
| At 30 September 2024 | 398,861 |