REGISTERED NUMBER: 01236012 (England and Wales)

WALKGATE PROPERTIES LIMITED

Unaudited Financial Statements

for the Year Ended 29 March 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

E J Formby

R M Formby

A J Formby

C H Low

N C Pinhey

A K Pinhey

Registered office:

115 Mount Street

London

W1K 3NQ

Registered number:

01236012 (England and Wales)

Accountants:

Cooper Parry Advisory Limited

Broadwalk House, 5th Floor

5 Appold Street

Broadgate

London

EC2A 2AG

Fixed assets

Investment property

4

1,325,000

1,325,000

Current assets

Debtors

5

8,286

8,458

Cash at bank

316,575

235,640

324,861

244,098

Creditors

Amounts falling due within one year

6

(74,992

)

(28,878

)

Net current assets

249,869

215,220

Total assets less current liabilities

1,574,869

1,540,220

Creditors

Amounts falling due after more than one year

7

(3,575

)

(3,543

)

Net assets

1,571,294

1,536,677

Capital and reserves

Called up share capital

8

1,000

1,000

Fair value reserve

(707,637

)

(707,637

)

Retained earnings

2,277,931

2,243,314

Shareholders' funds

1,571,294

1,536,677

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 March 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 4 December 2025 and were signed on its behalf by:

E J Formby - Director

1.	Statutory information

Walkgate 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, modified to include certain values at fair value.

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 pound. The principal accounting policies adopted are set out below.

Turnover

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

Other income

Dilapidations income is measured at the fair value of consideration received or receivable net of value added tax.

Investment property

Investment properties are properties which are held either to earn rental income or for capital appreciation or for both.

Investment properties are measured at cost upon initial recognition. The initial cost of the property comprises of its purchase price and any directly attributable expenditure.

Subsequently, investment property is measured at fair value at each reporting date with changes in fair value recognised in the income statement in the period that they arise. No depreciation is provided in respect of investment properties applying the fair value model.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements , when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include bank balances, are measured at transaction price. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and loans are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised at transaction price.

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.

Leasing incentives

The company from time to time provides incentives to enter into new lease agreements. These incentives may take the form of an initial period of the lease being rent free or at a reduced rent. In accordance with the standard accounting treatment for lease incentives, the rent free period or reduction in rent is allocated on a straight line basis over the full lease term or, where a lease commenced prior to the date of transition to Section 1A of FRS 102, up to the rent review date.

3.	Employees and directors

The average number of employees during the year was 6 (2024 - 6 ) .

4.	Investment property

Total

£

Fair value

At 30 March 2024

and 29 March 2025

1,325,000

Net book value

At 29 March 2025

1,325,000

At 29 March 2024

1,325,000

Independent professional revaluations of all investment properties, taking into account the open market conditions, were carried out as at 29 March 2023. The Directors confirm the value of the property is unlikely to have materially change since this valuation.

In respect of the fixed assets stated at valuations, the comparable historical cost values are as follows:

2025

2024

£

£

Historical cost

2,032,637

2,032,637

5.

Debtors: amounts falling due within one year

2025

2024

£

£

Trade debtors

4,141

5,366

Other debtors

4,145

3,092

8,286

8,458

6.

Creditors: amounts falling due within one year

2025

2024

£

£

Trade creditors

34,319

206

Taxation and social security

15,971

4,211

Other creditors

24,702

24,461

74,992

28,878

7.

Creditors: amounts falling due after more than one year

2025

2024

£

£

Other creditors

3,575

3,543

8.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1,000

Ordinary

£1

1,000

1,000