We Buy Properties Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 12687612 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

We Buy Properties Limited

Page

Company Information

1

Chartered Certified Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

S K Vellanki

REGISTERED OFFICE:

Branston Court

Branston Street

Birmingham

West Midlands

B18 6BA

REGISTERED NUMBER:

12687612 (England and Wales)

ACCOUNTANTS:

A Hadley Accounting Services Limited

Chartered Certified Accountants

22 Compton Road

Cradley Heath

West Midlands

B64 5BB

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of We Buy Properties Limited for the year ended 31 December 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of We Buy Properties Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of We Buy Properties Limited and state those matters that we have agreed to state to the director of We Buy Properties Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at

https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that We Buy Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of We Buy Properties Limited. You consider that We Buy Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of We Buy Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

A Hadley Accounting Services Limited

Chartered Certified Accountants

22 Compton Road

Cradley Heath

West Midlands

B64 5BB

22 September 2025

FIXED ASSETS

Tangible assets

4

658

931

Investments

5

1,927

Investment property

6

424,878

427,463

427,736

CURRENT ASSETS

Cash at bank

1,205

588

CREDITORS

Amounts falling due within one year

7

1,158

1,078

NET CURRENT ASSETS/(LIABILITIES)

47

(490

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

427,510

427,246

CREDITORS

Amounts falling due after more than one
year

8

418,901

420,751

NET ASSETS

8,609

6,495

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

8,509

6,395

8,609

6,495

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 director acknowledges his 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 director and authorised for issue on 22 September 2025 and were signed by:

S K Vellanki - Director

1.	STATUTORY INFORMATION

We Buy 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery etc

-

20% on cost

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.

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 1 (2023 - NIL ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

and 31 December 2024

1,362

DEPRECIATION

At 1 January 2024

431

Charge for year

273

At 31 December 2024

704

NET BOOK VALUE

At 31 December 2024

658

At 31 December 2023

931

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2024

and 31 December 2024

1,927

NET BOOK VALUE

At 31 December 2024

1,927

At 31 December 2023

1,927

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

424,878

NET BOOK VALUE

At 31 December 2024

424,878

At 31 December 2023

424,878

The director is of the opinion that the investment properties have a current value in excess of £430,000.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Taxation and social security

560

266

Other creditors

598

812

1,158

1,078

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

31.12.24

31.12.23

£

Bank loans

313,535

317,846

Other creditors

105,366

102,905

418,901

420,751

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

313,535

317,846

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

Bank loans

313,535

317,846

The bank loans are secured by fixed charges against the investment properties.