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Registered number: 14333801









WATERFALL PROPERTY COMPANY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
WATERFALL PROPERTY COMPANY LIMITED
REGISTERED NUMBER: 14333801

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
3,095
-

Investment property
 5 
2,857,931
984,493

  
2,861,026
984,493

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 6 
3,758
-

Cash at bank and in hand
  
776,116
132,185

  
779,874
132,185

Creditors: amounts falling due within one year
 7 
(3,650,600)
(1,126,404)

NET CURRENT LIABILITIES
  
 
 
(2,870,726)
 
 
(994,219)

TOTAL ASSETS LESS CURRENT LIABILITIES
  
(9,700)
(9,726)

  

NET LIABILITIES
  
(9,700)
(9,726)


CAPITAL AND RESERVES
  

Called up share capital 
 8 
100
100

Profit and loss account
  
(9,800)
(9,826)

  
(9,700)
(9,726)


Page 1

 
WATERFALL PROPERTY COMPANY LIMITED
REGISTERED NUMBER: 14333801
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J C O'Donnell
Director

Date: 16 June 2025

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
WATERFALL PROPERTY COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


GENERAL INFORMATION

Waterfall Property Company Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is Salisbury House, Station Road, Cambridge, United Kingdom, CB1 2LA.
The Company's functional and presentational currency is GBP.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

GOING CONCERN

The Company had net liabilities of £9,700 as at 30 September 2024 (2023 - £9,726). The financial statements are prepared on the going concern basis on the assumption that the Company will continue to receive financial support from its shareholders as they fall due.

 
2.3

TURNOVER

Turnover comprises rental income receivable, which is recognised in the period it relates to.

 
2.4

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%
straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 3

 
WATERFALL PROPERTY COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.5

INVESTMENT PROPERTY

Investment property is carried at fair value determined annually by the director based on professional advice received and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.6

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


EMPLOYEES

The Company has no employees other than the director, who did not receive any remuneration (2023 - £NIL).

Page 4

 
WATERFALL PROPERTY COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


TANGIBLE FIXED ASSETS





Fixtures and fittings

£



COST


Additions
3,713



At 30 September 2024

3,713



DEPRECIATION


Charge for the year on owned assets
618



At 30 September 2024

618



NET BOOK VALUE



At 30 September 2024
3,095



At 30 September 2023
-


5.


INVESTMENT PROPERTY


Freehold investment property

£



VALUATION


At 1 October 2023
984,493


Additions at cost
1,873,438



AT 30 SEPTEMBER 2024
2,857,931

The 2024 valuations were made by the director, on an open market value for existing basis, based on professional advice received.





Page 5

 
WATERFALL PROPERTY COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6.


DEBTORS

2024
2023
£
£


Prepayments and accrued income
3,758
-



7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Other creditors
3,648,080
1,124,004

Accruals
2,520
2,400

3,650,600
1,126,404



8.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



67 (2023 - 67) Ordinary A Shares shares of £1.00 each
67
67
33 (2023 - 33) Ordinary B Shares shares of £1.00 each
33
33

100

100


 
Page 6