In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Walsgrave Properties Limited for the year ended 30 September 2024 which comprise, the statement of financial position, the statement of changes in equity 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 https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the board of directors of Walsgrave Properties Limited, as a body, in accordance with the terms of our engagement letter dated 27 June 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Walsgrave Properties Limited and state those matters that we have agreed to state to the board of directors of Walsgrave Properties Limited, as a body, 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/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Walsgrave Properties Limited and its board of directors as a body for our work or for this report.

It is your duty to ensure that Walsgrave 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 loss of Walsgrave Properties Limited. You consider that Walsgrave 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 Walsgrave 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.

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

For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 member has 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.

Walsgrave Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is Station Hotel, Castle Hill, Dudley, West Midlands, DY1 4RA.

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 amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

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

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Depreciation has been provided at 0% on freehold property as in the opinion of the director, their lives are long and residual values are such that depreciation is not material.

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

The bank loans are secured by Shawbrook Bank Limited by the way of a fixed charge over various property and undertakings of the company, dated 13 September 2023,17 March 2023, 11 February 2022, 21 September 2021,16 August 2021, 23 March 2021 12th August 2020, 18th October 2019, 27th June 2019, 31st January 2019 and 2nd March 2018.

Other fixed charges are held over various property by Fleet Mortgages Limited dated 11 February 2022, 17 February 2023, 14 July 2023, 22 September 2023 19 January 2024, 20 March 2024, 22 March 2024, 17 May 2024, 12 July 2024, 26 July 2024 and 12 March 2025

Other fixed charges are held over various property by Together Commercial Finance dated 17 March 2023, 13 September 2023, 20 March 2024, 09 August 2024, 30 October 2024 and 27 March 2025

Other fixed charges are held over various property by Landbay Partners Limited dated 30 May 2025 and 07 August 2025