Waitt Homes (Pierview) Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 10966722

WAITT HOMES (PIERVIEW) LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

30 September 2024

WAITT HOMES (PIERVIEW) LIMITED

STATEMENT OF INCOME AND RETAINED EARNINGS

YEAR ENDED 30 SEPTEMBER 2024

	2024	2023
Note	£	£
RETAINED LOSSES AT THE START OF THE YEAR	( 265)	( 249)
	-----	-----
RETAINED LOSSES AT THE END OF THE YEAR	( 242)	( 265)
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WAITT HOMES (PIERVIEW) LIMITED

STATEMENT OF FINANCIAL POSITION

30 September 2024

	2024	2023
Note	£	£

CURRENT ASSETS

Stocks		2,432,600	1,122,020
Debtors	5	450	407
Cash at bank and in hand		11,639	29,811
		--------------	--------------
		2,444,689	1,152,238

CREDITORS: amounts falling due within one year	6	2,442,931	1,150,503
		--------------	--------------
NET CURRENT ASSETS		1,758	1,735
		--------	--------
TOTAL ASSETS LESS CURRENT LIABILITIES		1,758	1,735
		--------	--------
NET ASSETS		1,758	1,735
		--------	--------

CAPITAL AND RESERVES

Called up share capital	2,000	2,000
Profit and loss account	( 242)	( 265)
	--------	--------
SHAREHOLDERS FUNDS	1,758	1,735
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

WAITT HOMES (PIERVIEW) LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

30 September 2024

These financial statements were approved by the board of directors and authorised for issue on 19 June 2025 , and are signed on behalf of the board by:

Mr W Waitt

Director

Company registration number: 10966722

WAITT HOMES (PIERVIEW) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 SEPTEMBER 2024

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3 High Street, St Lawrence, Ramsgate, CT11 0QL, Kent.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of Preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Disclosure Exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102 .

Judgements and Key Sources of Estimation Uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances .

Stocks

Work in progress is measured at the lower of cost and estimated Market Value less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to Nil (2023: 1 ).

5. DEBTORS

	2024	2023
	£	£
Other debtors	450	407
	-----	-----

6. CREDITORS: amounts falling due within one year

	2024	2023
	£	£
Accruals and deferred income	137,390	3,120
Director loan accounts	947,707	945,396
Other creditors	1,357,834	201,987
	--------------	--------------
	2,442,931	1,150,503
	--------------	--------------

Other Creditors include Loan borrowed from Hampshire Trust Bank Plc in the sum of £1,339,434.00 (Last Year £199,247.00). The Bank has first Legal charge secured over the Property and first floating charge over all the undertaking, property and assets of the company. They also have a personal guarantee limited to £308,400 plus interest, fees and cost of collection from Mr Warren Waitt.

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the directors entered into the following advances and credits with the company:

	2024
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mr W Waitt	( 945,396)	( 2,311)	( 947,707)
	-----------	--------	-----------

	2023
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mr W Waitt	( 939,859)	( 5,537)	( 945,396)
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