Caseware UK (AP4) 2024.0.164 2024.0.164 The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true2024-03-01falseProperty company20falsefalse 09991326 2024-03-01 2025-02-28 09991326 2023-03-01 2024-02-29 09991326 2025-02-28 09991326 2024-02-29 09991326 c:Director1 2024-03-01 2025-02-28 09991326 d:Buildings 2024-03-01 2025-02-28 09991326 d:Buildings 2025-02-28 09991326 d:Buildings 2024-02-29 09991326 d:Buildings d:OwnedOrFreeholdAssets 2024-03-01 2025-02-28 09991326 d:MotorVehicles 2024-03-01 2025-02-28 09991326 d:MotorVehicles 2025-02-28 09991326 d:MotorVehicles 2024-02-29 09991326 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-03-01 2025-02-28 09991326 d:FurnitureFittings 2024-03-01 2025-02-28 09991326 d:FurnitureFittings 2025-02-28 09991326 d:FurnitureFittings 2024-02-29 09991326 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-03-01 2025-02-28 09991326 d:ComputerEquipment 2024-03-01 2025-02-28 09991326 d:ComputerEquipment 2025-02-28 09991326 d:ComputerEquipment 2024-02-29 09991326 d:ComputerEquipment d:OwnedOrFreeholdAssets 2024-03-01 2025-02-28 09991326 d:OwnedOrFreeholdAssets 2024-03-01 2025-02-28 09991326 d:CurrentFinancialInstruments 2025-02-28 09991326 d:CurrentFinancialInstruments 2024-02-29 09991326 d:Non-currentFinancialInstruments 2025-02-28 09991326 d:Non-currentFinancialInstruments 2024-02-29 09991326 d:CurrentFinancialInstruments d:WithinOneYear 2025-02-28 09991326 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 09991326 d:Non-currentFinancialInstruments d:AfterOneYear 2025-02-28 09991326 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-29 09991326 d:ShareCapital 2025-02-28 09991326 d:ShareCapital 2024-02-29 09991326 d:RetainedEarningsAccumulatedLosses 2025-02-28 09991326 d:RetainedEarningsAccumulatedLosses 2024-02-29 09991326 c:FRS102 2024-03-01 2025-02-28 09991326 c:AuditExempt-NoAccountantsReport 2024-03-01 2025-02-28 09991326 c:FullAccounts 2024-03-01 2025-02-28 09991326 c:PrivateLimitedCompanyLtd 2024-03-01 2025-02-28 09991326 2 2024-03-01 2025-02-28 09991326 e:PoundSterling 2024-03-01 2025-02-28 iso4217:GBP xbrli:pure
Registered number: 09991326













Windmill Property North Ltd

Financial statements
Information for filing with the registrar

28 February 2025




 
Windmill Property North Ltd


Balance sheet
At 28 February 2025

28 February
29 February
2025
2024
Note
£
£

Fixed assets
  

Tangible assets
 3 
1,711,802
1,741,624

  
1,711,802
1,741,624

Current assets
  

Debtors
 4 
10,737
-

Cash at bank and in hand
  
34,468
13,141

  
45,205
13,141

Creditors: amounts falling due within one year
 5 
(1,541,041)
(1,509,906)

Net current liabilities
  
 
 
(1,495,836)
 
 
(1,496,765)

Total assets less current liabilities
  
215,966
244,859

Creditors: amounts falling due after more than one year
 6 
(188,707)
(219,298)

Provisions for liabilities
  

Deferred tax
  
(3,764)
(2,935)

Net assets
  
23,495
22,626


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
23,493
22,624

Shareholders' funds
  
23,495
22,626


Page 1

 
Windmill Property North Ltd

    
Balance sheet (continued)
At 28 February 2025

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 period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his 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 statement of comprehensive income 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 on 9 July 2025.




S B Pabary
Director

Company registered number: 09991326
The notes on pages 3 to 6 form part of these financial statements. 

Page 2

 
Windmill Property North Ltd
 
 

Notes to the financial statements
Year ended 28 February 2025

1.


General information

Windmill Property North Ltd ('the company') is a private company limited by shares, incorporated in the United Kingdom and registered in England. The address of the registered office is 2nd Floor Citygate, St. James' Boulevard, Newcastle upon Tyne, NE1 4JE.

2.Accounting policies

 
2.1

Statement of compliance

The financial statements have been prepared in accordance with Section 1A of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland' (FRS 102) and the Companies Act 2006.

 
2.2

Revenue

The turnover shown in the profit and loss accounts represents rental income receivable during the period.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Income tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.5

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.

Page 3

 
Windmill Property North Ltd
 

 
Notes to the financial statements
Year ended 28 February 2025

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using straight line and reducing balance..

Depreciation is provided on the following basis:

Freehold property
-
2%
straight line
Motor vehicles
-
25%
straight line
Fixtures and fittings
-
15%
reducing balance
Computer equipment
-
20%
reducing balance

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.

  
2.6

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

 
2.7

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.
Investment properties are included in the balance sheet at their open market value and are not depreciated. This treatment is contrary to the Companies Act 2006 which states that fixed assets should be depreciated but is, in the opinion of the directors, necessary in order to give a true and fair view of the financial position of the company.

Page 4

 
Windmill Property North Ltd
 

 
Notes to the financial statements
Year ended 28 February 2025

2.Accounting policies (continued)

 
2.8

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Tangible fixed assets







Freehold property
Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£



Cost


At 1 March 2024
1,799,335
4,000
-
4,798
1,808,133


Additions
-
-
7,818
459
8,277



At 28 February 2025

1,799,335
4,000
7,818
5,257
1,816,410



Depreciation


At 1 March 2024
64,299
1,667
-
545
66,511


Charge in the year
35,986
1,000
245
866
38,097



At 28 February 2025

100,285
2,667
245
1,411
104,608



Net book value



At 28 February 2025
1,699,050
1,333
7,573
3,846
1,711,802



At 29 February 2024
1,735,037
2,333
-
4,254
1,741,624

Page 5

 
Windmill Property North Ltd
 
 

Notes to the financial statements
Year ended 28 February 2025

4.


Debtors

28 February
29 February
2025
2024
£
£


Amounts owed by joint ventures and associated undertakings
10,000
-

Other debtors
737
-

10,737
-



5.


Creditors: amounts falling due within one year

28 February
29 February
2025
2024
£
£

Bank loans
22,200
5,816

Trade creditors
690
-

Corporation tax
14,956
4,713

Other creditors
1,500,705
1,496,677

Accruals and deferred income
2,490
2,700

1,541,041
1,509,906


Bank loans are secured by a fixed and floating charge against the freehold property at The Windmill, 6 Chimney Mills, Claremont Road, Newcastle upon Tyne.


6.


Creditors: amounts falling due after more than one year

28 February
29 February
2025
2024
£
£

Bank loans
188,707
219,298

188,707
219,298


Bank loans are secured by a fixed and floating charge against the freehold property at The Windmill, 6 Chimney Mills, Claremont Road, Newcastle upon Tyne.


7.


Related party transactions

During the year, the company operated an intercompany loan account with Maia Property NE Ltd. At 28 February 2025, the balance owed to Maia Property NE Ltd was £10,000.

 
Page 6