| REGISTERED NUMBER: |
| WATERFORD CHASE PROPERTIES LIMITED |
| Unaudited Financial Statements for the Year Ended 31 October 2024 |
| REGISTERED NUMBER: |
| WATERFORD CHASE PROPERTIES LIMITED |
| Unaudited Financial Statements for the Year Ended 31 October 2024 |
| WATERFORD CHASE PROPERTIES LIMITED (REGISTERED NUMBER: 06974302) |
| Contents of the Financial Statements |
| for the year ended 31 October 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 | to | 4 |
| WATERFORD CHASE PROPERTIES LIMITED |
| Company Information |
| for the year ended 31 October 2024 |
| Directors: |
| Registered office: |
| Registered number: |
| Accountants: |
| CUBO Birmingham |
| 4th Floor |
| Two Chamberlain Square |
| Birmingham |
| West Midlands |
| B3 3AX |
| WATERFORD CHASE PROPERTIES LIMITED (REGISTERED NUMBER: 06974302) |
| Balance Sheet |
| 31 October 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Investment property | 4 |
| Current assets |
| Debtors | 5 |
| Cash at bank and in hand |
| Creditors |
| Amounts falling due within one year | 6 |
| Net current liabilities | ( |
) | ( |
) |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year | 7 | ( |
) |
| Provisions for liabilities | ( |
) | ( |
) |
| Net assets |
| Capital and reserves |
| Called up share capital |
| Fair value reserve |
| Retained earnings |
| The directors acknowledge their 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. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| WATERFORD CHASE PROPERTIES LIMITED (REGISTERED NUMBER: 06974302) |
| Notes to the Financial Statements |
| for the year ended 31 October 2024 |
| 1. | Statutory information |
| Waterford Chase Properties Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| Investment property is included at market value. All gains and losses arising on revaluation are taken directly to the profit and loss account for the year. |
| No depreciation or amortisation is provided in respect of investment property. |
| 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 balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
| 3. | Employees and directors |
| The average number of employees during the year was NIL (2023 - NIL). |
| 4. | Investment property |
| Total |
| £ |
| Fair value |
| At 1 November 2023 |
| and 31 October 2024 |
| Net book value |
| At 31 October 2024 |
| At 31 October 2023 |
| WATERFORD CHASE PROPERTIES LIMITED (REGISTERED NUMBER: 06974302) |
| Notes to the Financial Statements - continued |
| for the year ended 31 October 2024 |
| 4. | Investment property - continued |
| No revaluation has taken place in the year in respect of investment property as there was no significant change in it's market value. |
| 5. | Debtors: amounts falling due within one year |
| 2024 | 2023 |
| £ | £ |
| Other debtors |
| VAT |
| Prepayments |
| 6. | Creditors: amounts falling due within one year |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Amounts owed to group undertakings |
| VAT and social security |
| Other creditors |
| The bank loan is secured by the way of a fixed and floating charge over the freehold property and assets of the company and is repayable over 5 years. |
| 7. | Creditors: amounts falling due after more than one year |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| 8. | Related party disclosures |
| KSL Investments Limited is considered to be a related party by virtue of being the ultimate parent company. During the year, the company paid dividends to KSL Investments Limited in the sum of £10,000 (2023: £13,500). At the balance sheet date the company owed KSL Investments £47,004 (2023: £37,004). |
| Aquabond Limited is considered to be a related party by virtue of being under common control. During the year, the company charged Aquabond Limited rent in the sum of £60,000 (2023: £60,000) and management fees in the sum of £12,000 (2023: £12,000). At the balance sheet date the company owed Aquabond Limited £41,373 (2023: £24,700). Both related party loans are interest free, unsecured and have no specific repayment terms. |
| MFL-COM Limited is considered to be a related party by virtue of the relationship between directors in both companies. During the year, the company charged MFL-COM Limited rent in the sum of £14,000 (2023: £Nil). |
| 9. | Ultimate controlling party |
| The company is a 100% subsidiary of KSL Investments Limited. |