Weldale Square Limited 31/03/2025 iXBRL

Weldale Square Limited

Filleted accounts

31 March 2025

Company registration number: 09418629

Weldale Square Limited

Directors and other information


	Director	G M El-Kassir


	Company number	09418629


	Registered office	7200 The Quorum
		Oxford Business Park North
		Oxford
		OX4 2JZ


	Auditor	Cox Hinkins Audit Services Limited
		The Old Dairy
		12 Stephen Road
		Headington
		Oxford
		OX3 9AY

Weldale Square Limited

Director's responsibilities statement

Year ended 31st March 2025

The director is responsible for preparing the director's report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.

In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;

- make judgments and accounting estimates that are reasonable and prudent; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Weldale Square Limited

Balance sheet

31st March 2025

		2025		2024
	Note	£	£	£	£

Current assets
Stocks		3,196,778		3,196,778
Debtors	5	2,459,720		2,178,472
		_______		_______
		5,656,498		5,375,250
Creditors: amounts falling due
within one year	6	( 5,749,390)		( 5,453,199)
		_______		_______
Net current liabilities			( 92,892)		( 77,949)

			_______		_______
Net liabilities			( 92,892)		( 77,949)
			_______		_______

Capital and reserves
Called up share capital	7		100		100
Profit and loss account			( 92,992)		( 78,049)
			_______		_______
Shareholders deficit			( 92,892)		( 77,949)
			_______		_______

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 Profit & loss account has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 23 December 2025 , and are signed on behalf of the board by:

G M El-Kassir

Director

Company registration number: 09418629

Weldale Square Limited

Notes to the financial statements

Year ended 31st March 2025

1. General information

The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 7200 The Quorum, Oxford Business Park North, Oxford, OX4 2JZ. There was no significant change in the company's principal activity during the year which continued to be the acquisition and resale of real estate.

2. Statement of compliance

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

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The principal accounting policies are set out below.The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

These financial statements have been prepared on a going concern basis. At 31st March 2025, the company was owed £706,851 by and owed £2,130,133 to other members of the group. The recoverability of the monies owed and the ability of other group companies to provide continued financial support is dependent on the group continuing as a going concern. The group has advanced £50.5m to its marketing agent that is due to be recovered against marketing costs on future joint projects. The ability of the group to recover the marketing advance by securing sufficient future joint projects with its marketing agent will depend on many factors including land availability, construction costs, interest rates and demand for housing, either to buy or rent. These risks are inherent to the industry, which is also sensitive to changes in the general economic climate and represent a material uncertainty that may cast significant doubt on the recovery of the debt and the group's ability to continue as a going concern. Having assessed the current project pipeline, the principal risks and having regard for the above, the director considers it appropriate to continue to adopt the going concern basis of accounting in preparing these financial statements. Therefore these financial statements do not include any adjustments that would result if the going concern basis of preparation was inappropriate.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for properties sold, net of discounts and Value Added Tax.Revenue from the sale of properties is recognised when the significant risks and rewards of ownership have transferred to the buyer; the amount of revenue can be measured reliably; 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 and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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. Deferred tax is not recognised in respect of any timing differences at the reporting date as all are insignificant.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to profit or loss.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties. Financial assets that are measured at cost and amortised and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

4. Employee numbers

The average number of persons employed by the company during the year amounted to Nil (2024: Nil).

5. Debtors

	2025	2024
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	706,851	709,943
Other debtors	1,752,869	1,468,529
	_______	_______
	2,459,720	2,178,472
	_______	_______

6. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	428	-
Amounts owed to group undertakings and undertakings in which the company has a participating interest	2,130,133	1,834,452
Other creditors	3,618,829	3,618,747
	_______	_______
	5,749,390	5,453,199
	_______	_______

7. Called up share capital

Issued, called up and fully paid

	2025		2024
	No	£	No	£
Ordinary shares of £ 1.00 each	100	100	100	100
	_______	_______	_______	_______

8. Contingent assets and liabilities

A fixed charge is held over the present and future assets of the company. Effective from 16 December 2022, the company has provided additional security to support the borrowings of its parent company. At 31 March 2025, the parent company had net liabilities of £27,541 including borrowings of £2,770,000.

9. Summary audit opinion

The auditor's report for the year is dated 23 December 2025

In forming our opinion on the financial statements, which is not modified, we have considered the adequacy of the disclosures made in note 3 to the financial statements concerning the company's ability to continue as a going concern.As described in note 3 to the financial statements, the director has considered the likelihood of the group recovering its marketing advance by securing sufficient future joint projects with its marketing agent. The going concern assessment of the company is linked to the going concern of the group due to its loans to and from other group companies, as described in notes 5 and 6 to the financial statements. Given the risks associated with securing viable construction projects, the director has drawn attention to this in disclosing a material uncertainty relating to going concern in the basis of preparation within note 3 to the financial statements.The existence of a material uncertainty may cast significant doubt about the ability of the company to continue as a going concern. The financial statements do not include the adjustments that would result if the company was unable to continue as a going concern.

The senior statutory auditor was Rodney Mark Morgan for and on behalf of Cox Hinkins Audit Services Limited

10. Controlling party

The company is under the control of Belright Limited, a company incorporated in England & Wales, which owns 100% of the issued share capital.

11. Ultimate parent undertaking

GRE Capital Ltd, a company incorporated in England & Wales, is regarded by the director as being the company's ultimate holding company. GRE Capital Ltd prepares consolidated accounts for the group.