Waterfield Property Developments Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 10511162

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Investments	4		990,000		990,000

			990,000		990,000
CURRENT ASSETS
Debtors	5	713,714		654,877
Cash at bank and in hand		85,383		49,299

		799,097		704,176
Creditors: Amounts Falling Due Within One Year	6	(642,079 )		(601,687 )

NET CURRENT ASSETS (LIABILITIES)			157,018		102,489

TOTAL ASSETS LESS CURRENT LIABILITIES			1,147,018		1,092,489

NET ASSETS			1,147,018		1,092,489

CAPITAL AND RESERVES
Called up share capital	7		100		100
Revaluation reserve	8		879,900		879,900
Profit and Loss Account			267,018		212,489

SHAREHOLDERS' FUNDS			1,147,018		1,092,489

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Waterfield Property Developments Limited

Balance Sheet (continued)

As At 31 December 2024

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr P Waterfield

Director

29/09/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Waterfield Property Developments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10511162 . The registered office is 69-75 Thorpe Road, Norwich, Norfolk, NR1 1UA.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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.

...CONTINUED

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Waterfield Property Developments Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.3. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: NIL (2023: NIL)

4. Investments

	Other
	£
Cost
As at 1 January 2024	990,000

As at 31 December 2024	990,000

Provision
As at 1 January 2024	-

As at 31 December 2024	-

Net Book Value
As at 31 December 2024	990,000

As at 1 January 2024	990,000

Investments are subsidiary companies and fair values have been determined by the directors.

5. Debtors

	2024	2023
	£	£
Due within one year
Amounts owed by group undertakings	640,753	613,669
Amounts owed by participating interests	72,961	41,208

	713,714	654,877

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Waterfield Property Developments Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

6. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	34	-
Other creditors	624,085	590,995
Taxation and social security	17,960	10,692

	642,079	601,687

7. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	100	100

8. Reserves

	Revaluation Reserve
	£
As at 1 January 2024	879,900

As at 31 December 2024	879,900

9. Related Party Transactions

Summary of transactions with other related parties

Included within creditors due within 1 year is £622,615 (2023: £589,615) owing to the directors of the company. The loan is unsecured, interest-free and repayable on demand.

Included within debtors due within 1 year is £640,753 (2023: £613,669) owing from a subsidiary company with a participating interest. The loan is unsecured and repayable on demand. £313,000 (2023: £280,000) of the loan is accruing interest at 1% per month.

Also included within debtors due within 1 year is £41,204 (2023: £31,432) owed by a company with a participating interest. The loan is unsecured, and repayable on demand. Interest is charged at 1% per month.

Also included within debtors due within 1 year is £31,757 £2023: £9,776) owed by an associate company with a participating ointerest. The loan is unsecured, interest-free and repayable on demand.

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