Company registration number 10094488 (England and Wales)
WJ Residential Properties Limited
Unaudited financial statements
For the year ended 31 March 2025
WJ Residential Properties Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6
WJ Residential Properties Limited
Statement of financial position
As at 31 March 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investment property
3
3,964,339
4,300,876
Current assets
Debtors
4
388,414
20,590
Cash at bank and in hand
9,369
5,542
397,783
26,132
Creditors: amounts falling due within one year
5
(2,955,223)
(2,772,398)
Net current liabilities
(2,557,440)
(2,746,266)
Total assets less current liabilities
1,406,899
1,554,610
Creditors: amounts falling due after more than one year
6
(1,239,344)
(1,257,541)
Provisions for liabilities
(30,504)
(27,086)
Net assets
137,051
269,983
Capital and reserves
Called up share capital
4
4
Other reserves
150,658
136,983
Profit and loss reserves
(13,611)
132,996
Total equity
137,051
269,983

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

WJ Residential Properties Limited
Statement of financial position (continued)
As at 31 March 2025
31 March 2025
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 5 September 2025 and are signed on its behalf by:
Mr M Webb
Director
Company registration number 10094488 (England and Wales)
WJ Residential Properties Limited
Notes to the financial statements
For the year ended 31 March 2025
- 3 -
1
Accounting policies
Company information

WJ Residential Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 7 Brock Way, Newcastle, ST5 6AZ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

At the year end the directors were owed £2,852,049 (2024 : £2,736,811) which was included within other creditors under 1 year, however they will not seek repayment until funds are available.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and

services provided in the normal course of business.

Revenue from the rental of property is recognised when the amount of revenue can be measured

reliably, it is probable that the economical benefits associated with the transactions will flow to the

entity and the costs incurred in respect of the transaction can be measured reliably.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

WJ Residential Properties Limited
Notes to the financial statements (continued)
For the year ended 31 March 2025
1
Accounting policies
(Continued)
- 4 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

WJ Residential Properties Limited
Notes to the financial statements (continued)
For the year ended 31 March 2025
1
Accounting policies
(Continued)
- 5 -
1.11
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
3
3
3
Investment property
2025
£
Fair value
At 1 April 2024
4,300,876
Additions
23,463
Disposals
(360,000)
At 31 March 2025
3,964,339

Investment property comprises residential properties. The fair value of the investment property has been arrived at on the basis of a previous year valuation, which the directors believe is still an accurate valuation for the properties. This was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
388,414
20,590
WJ Residential Properties Limited
Notes to the financial statements (continued)
For the year ended 31 March 2025
- 6 -
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
18,197
18,197
Taxation and social security
1,697
13,147
Other creditors
2,935,329
2,741,054
2,955,223
2,772,398
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
1,239,344
1,257,541
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