We Love Buying Houses Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 10648866

WE LOVE BUYING HOUSES LTD

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 March 2025

WE LOVE BUYING HOUSES LTD

STATEMENT OF FINANCIAL POSITION

31 March 2025

	2025		2024
Note	£	£	£	£

FIXED ASSETS

Intangible assets	4	22,500	22,500
Investment properties	5	109,512	109,512
		-----------	-----------
		132,012	132,012

CURRENT ASSETS

Cash at bank and in hand	13,770		11,237

CREDITORS: amounts falling due within one year	6	20,678		32,744
		---------		---------
NET CURRENT LIABILITIES			6,908		21,507
			-----------		-----------
TOTAL ASSETS LESS CURRENT LIABILITIES			125,104		110,505

CREDITORS: amounts falling due after more than one year	7	80,561	80,561
		-----------	-----------
NET ASSETS		44,543	29,944
		-----------	-----------

WE LOVE BUYING HOUSES LTD

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2025

	2025		2024
Note	£	£	£	£

CAPITAL AND RESERVES

Called up share capital	1,000	1,000
Profit and loss account	43,543	28,944
	---------	---------
SHAREHOLDERS FUNDS	44,543	29,944
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

These financial statements were approved by the board of directors and authorised for issue on 2 December 2025 , and are signed on behalf of the board by:

Mr I Haith

Director

Company registration number: 10648866

WE LOVE BUYING HOUSES LTD

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 Scalby Beck Road, Scalby, Scarborough, YO13 3RD.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are not considered to be any judgements or accounting estimates or assumptions that have a significant impact on the financial statements.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for rent net of Value Added Tax where applicable. Revenue from rent is recognised when the amount of revenue can be measured reliably and it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Options	-	Not amortised

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

4. INTANGIBLE ASSETS

	Option agreements
	£
Cost
At 1 April 2024 and 31 March 2025	22,500
	---------
Amortisation
At 1 April 2024 and 31 March 2025	–
	---------
Carrying amount
At 31 March 2025	22,500
	---------
At 31 March 2024	22,500
	---------

5. INVESTMENT PROPERTIES

	Freehold property
	£
Cost
At 1 April 2024 and 31 March 2025	109,512
	-----------
Depreciation
At 1 April 2024 and 31 March 2025	–
	-----------
Carrying amount
At 31 March 2025	109,512
	-----------
At 31 March 2024	109,512
	-----------

The directors do not consider that there has been a significant change in value since the property was acquired in 2020.

6. CREDITORS: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	5,069	5,903
Corporation tax	3,659	2,977
Other creditors	11,950	23,864
	---------	---------
	20,678	32,744
	---------	---------

7. CREDITORS: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	80,561	80,561
	---------	---------

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the director's had unsecured, interest free loans to the company which are repayable on demand. The balance at 31 March 2025 was £11,180. (2024 - £22,304).