REGISTERED NUMBER: 12820976 (England and Wales)

FINANCIAL STATEMENTS FOR THE PERIOD 1 JANUARY 2024 TO 29 DECEMBER 2024

FOR

WPC12 LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J D Weight

REGISTERED OFFICE:

C/O Oasys Accountants

850 Green Lanes

London

N21 2RS

REGISTERED NUMBER:

12820976 (England and Wales)

AUDITORS:

Burnside

Chartered Accountants

and Statutory Auditor

61 Queen Square

Bristol

BS1 4JZ

FIXED ASSETS

Investment property

4

1,775,000

1,500,000

CURRENT ASSETS

Debtors

5

11,688

6,900

Cash at bank

17,215

33,352

28,903

40,252

CREDITORS

Amounts falling due within one year

6

933,934

995,834

NET CURRENT LIABILITIES

(905,031

)

(955,582

)

TOTAL ASSETS LESS CURRENT LIABILITIES

869,969

544,418

PROVISIONS FOR LIABILITIES

7

197,885

129,135

NET ASSETS

672,084

415,283

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

672,083

415,282

SHAREHOLDERS' FUNDS

672,084

415,283

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 director and authorised for issue on 9 December 2025 and were signed by:

J D Weight - Director

1.	STATUTORY INFORMATION

WPC12 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 accounting reference date of the company is 31 December but the financial statements have been drawn up to a Sunday within seven days of this date, which for this year is 31 December 2024.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

Freehold investment property is shown at most recent valuation. Any aggregate surplus or defecit arising from changes in fair value is recognised in profit or loss.

Financial instruments

Financial assets and liabilities are recognised in the balance sheet when the company becomes party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and are measured on initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of any direct issue costs.

Interest bearing loans which meet the criteria of basic financial instruments are initially recorded at the present value of cash payable to the bank, usually being equivalent to the proceeds received net of direct issue costs. These liabilities are subsequently measured at amortised cost, using the effective interest rate method.

Taxation

Taxation for the period 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 period 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.

Going concern

The financial statements have been prepared on a going concern basis as the immediate parent undertaking, WPC10 Limited, has confirmed its intention to make available such funds as needed by the company to continue in operational existence for the foreseeable future, by meeting the company's liabilities as they fall due, being a period of at least twelve months from the date of approval of these financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2023 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

1,500,000

Revaluations

275,000

At 29 December 2024

1,775,000

NET BOOK VALUE

At 29 December 2024

1,775,000

At 31 December 2023

1,500,000

The freehold investment property is shown at fair value. There has been a fair value increase in the period ended 29th December 2024 of £275,000 (2023: £516,450). This is shown on the face of the income statement.

Fair value at 29 December 2024 is represented by:

£

Valuation in 2023

516,540

Valuation in 2024

275,000

Cost

983,460

1,775,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

VAT

11,155

6,900

Prepayments and accrued income

533

-

11,688

6,900

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

3,180

3,300

Amounts owed to group undertakings

920,454

980,484

Accruals and deferred income

10,300

12,050

933,934

995,834

7.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

Other timing differences

197,885

129,135

Deferred

tax

£

Balance at 1 January 2024

129,135

Charge to Income Statement during period

68,750

Balance at 29 December 2024

197,885

The deferred tax liability relates to the potential gain on the disposal of the revalued investment property.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1

Ordinary share capital

£1

1

1

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Steven Coombe FCA (Senior Statutory Auditor)

for and on behalf of Burnside

10.	SECURITY OVER ASSETS

At 29 December 2024 the company had the following charges and securities:

- A fixed charge in favour of Barclays Bank PLC, created on 4 May 2025, over certain company assets.

- A legal charge in favour of Triple Point Advancr Leasing Plc, created on 30 June 2023, over the freehold property known as 17A St James’ Street.

- A legal charge in favour of Triple Point Advancr Leasing Plc, created on 13 January 2023, over the freehold property known as 17A St James’ Street.

All of the above charges remained outstanding at the balance sheet date.

As at the balance sheet date, the amount secured in the parent company was £2,036,812 (31 December 2023: £2,000,000).

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J D Weight.

The immediate parent company is WPC10 Limited and the ultimate parent company is Weight Partners Corporate Limited.

The smallest and largest group in which the results of the company are consolidated is that headed by WPC 10 Limited, incorporated in England and Wales, whose financial statements are available from C/O Oasys Accountants, 850 Green Lanes, London, England, N21 2RS.