REGISTERED NUMBER: 00844629 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

WORTHRISE PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C Leathley

R Leathley

REGISTERED OFFICE:

1 High Street

Thatcham

Berks

RG19 3JG

REGISTERED NUMBER:

00844629 (England and Wales)

ACCOUNTANTS:

C B Heslop & Company Limited

Chartered Accountants

1 High Street

Thatcham

Berks

RG19 3JG

FIXED ASSETS

Tangible assets

4

816,664

816,958

CURRENT ASSETS

Debtors

5

20,613

20,324

Cash at bank

160,098

179,229

180,711

199,553

CREDITORS

Amounts falling due within one year

6

7,411

11,236

NET CURRENT ASSETS

173,300

188,317

TOTAL ASSETS LESS CURRENT LIABILITIES

989,964

1,005,275

PROVISIONS FOR LIABILITIES

7

99,740

99,740

NET ASSETS

890,224

905,535

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

8

449,145

449,145

Retained earnings

8

440,979

456,290

SHAREHOLDERS' FUNDS

890,224

905,535

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2025 and were signed on its behalf by:

R Leathley - Director

1.	STATUTORY INFORMATION

Worthrise Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Investment property is carried in the financial statements at fair value. The adjustment from cost is transferred to reserves.

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.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

COST OR VALUATION

At 1 January 2024

and 31 December 2024

815,000

11,317

826,317

DEPRECIATION

At 1 January 2024

-

9,359

9,359

Charge for year

-

294

294

At 31 December 2024

-

9,653

9,653

NET BOOK VALUE

At 31 December 2024

815,000

1,664

816,664

At 31 December 2023

815,000

1,958

816,958

The investment properties are carried in the financial statements at fair value, based on the opinion of the directors as to the market value of the respective freehold properties. Their original cost was £266,976.

Cost or valuation at 31 December 2024 is represented by:

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

Valuation in 2012

420,542

-

420,542

Valuation in 2021

127,482

-

127,482

Cost

266,976

11,317

278,293

815,000

11,317

826,317

5.

DEBTORS

31.12.24

31.12.23

£

£

Amounts falling due within one year:

Trade debtors

3,420

3,250

Other debtors

1,215

1,096

4,635

4,346

Amounts falling due after more than one year:

Other debtors

15,978

15,978

Aggregate amounts

20,613

20,324

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

-

30

Taxation and social security

4,471

8,393

Other creditors

2,940

2,813

7,411

11,236

7.	PROVISIONS FOR LIABILITIES

31.12.24

31.12.23

£

£

Deferred tax

99,740

99,740

Deferred

tax

£

Balance at 1 January 2024

99,740

Provided on unrealised gains

Balance at 31 December 2024

99,740

8.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 January 2024

456,290

449,145

905,435

Profit for the year

19,689

19,689

Dividends

(35,000

)

(35,000

)

At 31 December 2024

440,979

449,145

890,124

9.	CONTINGENT LIABILITIES

There were no contingent liabilities at the year end date.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

£

C Leathley

Balance outstanding at start of year

(1

)

58,019

Amounts repaid

-

(58,020

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(1

)

(1

)

11.	ULTIMATE CONTROLLING PARTY

The company was under the control of the directors throughout the current and previous year.