REGISTERED NUMBER: 05058831 (England and Wales)

WATLANDS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

Mr R P T Mair

Mrs H Grissell

Mrs C Forbes

SECRETARY:

Mr R P T Mair

REGISTERED OFFICE:

Roadend Farm

Udimore

Rye

East Sussex

TN31 6BY

REGISTERED NUMBER:

05058831 (England and Wales)

ACCOUNTANTS:

Gibbons Mannington & Phipps LLP

Chartered Accountants

Landgate Chambers

24 Landgate

Rye

East Sussex

TN31 7LJ

FIXED ASSETS

Investment property

4

387,320

378,608

CURRENT ASSETS

Debtors

5

744

664

Cash at bank

39,809

48,569

40,553

49,233

CREDITORS

Amounts falling due within one year

6

145,359

171,175

NET CURRENT LIABILITIES

(104,806

)

(121,942

)

TOTAL ASSETS LESS CURRENT LIABILITIES

282,514

256,666

PROVISIONS FOR LIABILITIES

7

17,951

15,773

NET ASSETS

264,563

240,893

CAPITAL AND RESERVES

Called up share capital

8

1

1

Revaluation reserve

79,369

72,835

Retained earnings

185,193

168,057

SHAREHOLDERS' FUNDS

264,563

240,893

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 29 September 2025 and were signed on its behalf by:

Mr R P T Mair - Director

Mrs H Grissell - Director

Mrs C Forbes - Director

1.	STATUTORY INFORMATION

Watlands 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.

The accounts have been prepared on a going concern basis. Creditors at the year end include loans from the Mair Marriage Settlement Trust totalling £139,959 (2021 - £139,959) representing amounts advanced to the company by the trust. The directors, who are both trustees of the trust, have indicated that the trust will continue to support the company.

Taking this into account, the directors consider that it is appropriate for the accounts to be prepared on a going concern basis.

TURNOVER

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

INVESTMENT PROPERTY

Investment property is held for long term investment and is included in the balance sheet at open market value. Any aggregate surplus or deficit arising from changes in market value is transferred to a revaluation reserve.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

378,608

Revaluations

8,712

At 31 December 2024

387,320

NET BOOK VALUE

At 31 December 2024

387,320

At 31 December 2023

378,608

Fair value at 31 December 2024 is represented by:

£

Valuation in 2013

315,000

Valuation in 2016

89,000

Valuation in 2017

1,000

Valuation in 2018

5,000

Valuation in 2019

(4,144

)

Valuation in 2020

32,511

Valuation in 2021

(58,367

)

Valuation in 2022

16,309

Valuation in 2023

(17,701

)

Valuation in 2024

8,712

387,320

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

744

664

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Taxation and social security

4,020

1,633

Other creditors

141,339

169,542

145,359

171,175

7.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

17,951

15,773

Deferred

tax

£

Balance at 1 January 2024

15,773

Utilised during year

2,178

Balance at 31 December 2024

17,951

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1

Ordinary

1

1

1

9.	RELATED PARTY DISCLOSURES

Mair Marriage Settlement Trust is the sole shareholder of Watlands Ltd. At the beginning of the year the company owed Mair Marriage Settlement Trust £139.959. There have been no transactions this year therefore leaving £139,959 outstanding at the year end. This amount is shown within other creditors.

Mr RPT Mair , director, is in partnership with others trading as R Mair & Son.

The partnership have previously paid certain property expenses on behalf of the company. At the end of the year the company owed the partnership £NIL (2023 £25,005) which is included in other creditors.