Watch Out (UK) Properties Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 14111881

WATCH OUT (UK) PROPERTIES LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED

31 December 2024

WATCH OUT (UK) PROPERTIES LIMITED

STATEMENT OF FINANCIAL POSITION

31 December 2024

	31 Dec 24		30 May 24
Note	£	£	£	£

FIXED ASSETS

Tangible assets	5		1,090,522		1,090,522

CURRENT ASSETS

Debtors	6	65,465	106,178
Cash at bank and in hand		119,510	122,860
		---------	---------
		184,975	229,038

CREDITORS: amounts falling due within one year	7	( 1,291,980)		( 1,349,653)
		------------		------------
NET CURRENT LIABILITIES			( 1,107,005)		( 1,120,615)
			------------		------------
TOTAL ASSETS LESS CURRENT LIABILITIES			( 16,483)		( 30,093)
			--------		--------
NET LIABILITIES			( 16,483)		( 30,093)
			--------		--------

CAPITAL AND RESERVES

Called up share capital	100	100
Profit and loss account	( 16,583)	( 30,193)
	--------	--------
SHAREHOLDER DEFICIT	( 16,483)	( 30,093)
	--------	--------

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 period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

WATCH OUT (UK) PROPERTIES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 24 December 2025 , and are signed on behalf of the board by:

M Silverman
Director

Company registration number: 14111881

WATCH OUT (UK) PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

PERIOD FROM 31 MAY 2024 TO 31 DECEMBER 2024

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Harvey House, Enfield Avenue, Leeds, LS7 1QN, United Kingdom.

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., The financial statements are prepared in sterling, which is the functional currency of the entity.

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. The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows:

Revenue recognition

Turnover comprises revenue recognised by the company in respect of rents received, exclusive of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred 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.

Tangible assets

Tangible assets are initially recorded at cost.

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.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at transaction price and thereafter at fair value with changes recognised in profit and loss. The company holds the following financial assets and liabilities: Cash, Short-term trade and other debtors, and creditors. Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account before operating profit.

4. TAX ON PROFIT/(LOSS)

Major components of tax income

	Period from
	31 May 24 to	Year to
	31 Dec 24	30 May 24
	£	£

Current tax:

UK current tax income	–	( 2,690)
	----	-------
Tax on profit/(loss)	–	( 2,690)
	----	-------

5. TANGIBLE ASSETS

	Freehold property
	£
Cost
At 31 May 2024 and 31 December 2024	1,090,522
	------------
Depreciation
At 31 May 2024 and 31 December 2024	–
	------------
Carrying amount
At 31 December 2024	1,090,522
	------------
At 30 May 2024	1,090,522
	------------

Investment property has been valued by the director, on an open market basis, as at 31 December 2024.

6. DEBTORS

	31 Dec 24	30 May 24
	£	£
Trade debtors	31,430	101,430
Other debtors	34,035	4,748
	--------	---------
	65,465	106,178
	--------	---------

7. CREDITORS: amounts falling due within one year

	31 Dec 24	30 May 24
	£	£
Trade creditors	1,949	1,528
Amounts owed to group undertakings and undertakings in which the company has a participating interest	1,262,781	1,262,781
Social security and other taxes	–	511
Other creditors	27,250	84,833
	------------	------------
	1,291,980	1,349,653
	------------	------------