Registration number:
Waterfront Business Centre Limited
for the Year Ended 30 September 2024
Waterfront Business Centre Limited
(Registration number: 08755784)
Balance Sheet as at 30 September 2024
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2024 |
2023 |
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Fixed assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Fair value reserve |
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Retained earnings |
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Shareholders' funds |
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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:
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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 delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.
.........................................
G Beech
Director
Waterfront Business Centre Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
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Accounting policies |
Statutory information
Waterfront Business Centre Limited is a private company, limited by shares, domiciled in England and Wales, company number 08755784. The registered office is at Agility House, Rose Lane, Mansfield Woodhouse, Nottinghamshire, NG19 8BA.
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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
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. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.
Revenue recognition
Turnover comprises the income arising from property lettings. Revenue is recognised on a straight line basis over the lease term.
Tax
The tax expense for the period comprises 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 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.
Investment property
Investment properties whose fair value can be measured reliably are measured at fair value. The surplus or deficit on revaluation is recognised in the accumulated profit and loss reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.
Financial instruments
Waterfront Business Centre Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Investment property |
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Fair value |
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Valuation |
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At 1 October 2023 |
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At 30 September 2024 |
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The investment property class of fixed assets were revalued by the directors on 30 September 2024. The basis of this valuation was existing use basis. This class of assets has a historical cost of £704,346 (2023: £704,346).
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Debtors |
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2024 |
2023 |
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Trade debtors |
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Amounts due from related undertakings |
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Other debtors |
- |
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Waterfront Business Centre Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)
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Creditors |
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2024 |
2023 |
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Due within one year |
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Bank loans |
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Trade creditors |
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Amounts owed to related undertakings |
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Directors' loan account |
37,296 |
36,079 |
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Taxation and social security |
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Other creditors |
- |
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Accruals and deferred income |
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2024 |
2023 |
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Due after one year |
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Bank loans |
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2024 |
2023 |
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After more than five years not by instalments |
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- |
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Bank loan after five years
Borrowings comprise an amount due to Cambridge and Counties Bank. This is repayable in line with the terms of the loan. The loan is interest only over 10 years with interest charged on a monthly basis at 6.79% per annum. The loan is repayable on 17 March 2033.
The bank borrowings are secured on Waterfront, Cuckoo Wharf, Worksop, S80 1DT.
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Related party transactions |
During the year the directors had a loan account with the company. At the balance sheet date the amount owing to the directors was £37,296 (2023: £36,079). The loan was interest free.