REGISTERED NUMBER: 00960333 (England and Wales)

WATKIN PROPERTY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

5

DIRECTORS:

Mrs C E L Forder

Mrs S C Morgan

REGISTERED OFFICE:

White Farm Cottage

16 Pond Street

Harlaxton

Grantham

Lincolnshire

NG32 1HW

REGISTERED NUMBER:

00960333 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

BANKERS:

Lloyds Bank plc

42 St Peters Hill

Grantham

Lincolnshire

NG31 6QJ

FIXED ASSETS

Tangible assets

4

250,148

252,164

Investment property

5

593,914

593,914

844,062

846,078

CURRENT ASSETS

Debtors

6

360,055

350,274

Cash at bank

89,196

125,158

449,251

475,432

CREDITORS

Amounts falling due within one year

7

2,154

30,996

NET CURRENT ASSETS

447,097

444,436

TOTAL ASSETS LESS CURRENT LIABILITIES

1,291,159

1,290,514

CREDITORS

Amounts falling due after more than one year

8

(153,000

)

(153,000

)

PROVISIONS FOR LIABILITIES

(1,233

)

(1,233

)

NET ASSETS

1,136,926

1,136,281

CAPITAL AND RESERVES

Called up share capital

9

100

100

Fair value reserve

10

225,873

225,873

Retained earnings

910,953

910,308

SHAREHOLDERS' FUNDS

1,136,926

1,136,281

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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 24 October 2025 and were signed on its behalf by:

Mrs S C Morgan - Director

1.	STATUTORY INFORMATION

Watkin Property 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.

Income from investments

Investment income comprises the fair value of rental income from the company's investment properties which is recognised in the period receivable.

Tangible fixed assets

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

Plant & equipment 15% - 25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investment properties

Investment properties are measured at fair value at each reporting date with changes in fair value recognised in the income statement and the fair value reserve. No depreciation is provided in respect of investment properties. This treatment is not in accordance with the Companies Act but the directors consider that this accounting policy results in a true and fair view.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 February 2024

247,579

10,038

257,617

Additions

-

300

300

At 31 January 2025

247,579

10,338

257,917

DEPRECIATION

At 1 February 2024

-

5,453

5,453

Charge for year

-

2,316

2,316

At 31 January 2025

-

7,769

7,769

NET BOOK VALUE

At 31 January 2025

247,579

2,569

250,148

At 31 January 2024

247,579

4,585

252,164

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2024

and 31 January 2025

593,914

NET BOOK VALUE

At 31 January 2025

593,914

At 31 January 2024

593,914

The investment properties were valued by the directors as at 31 January 2025 by considering cost and fair values of recent, comparable property sales in the local area.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

358,954

332,548

Director's loan account

-

15,280

Prepayments and accrued income

1,101

2,446

360,055

350,274

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Taxation

-

27,345

Other creditors

7

1,030

Accruals and deferred income

2,147

2,621

2,154

30,996

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Mortgages

153,000

153,000

2025

2024

£

£

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Mortgages

153,000

153,000

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100

10.

RESERVES

Fair

value

reserve

£

At 1 February 2024

and 31 January 2025

225,873

The aggregate surplus on re-measurement of investment properties, net of associated deferred tax, is transferred to a separate non-distributable fair value reserve in order to assist with the identification of profits available for distribution.

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

2025

2024

£

£

Balance outstanding at start of year

15,280

11,645

Amounts advanced

3,319

6,345

Amounts repaid

(312

)

(2,710

)

Balance outstanding at end of year

18,287

15,280

The loan made is unsecured, repayable on demand and interest has been charged at 2% per annum.