Company Registration No. 04037642 (England and Wales)
Waterfield Homes Limited
Unaudited accounts
for the year ended 31 March 2025
Waterfield Homes Limited
Unaudited accounts
Contents
Waterfield Homes Limited
Company Information
for the year ended 31 March 2025
Company Number
04037642 (England and Wales)
Registered Office
10 Lynher Buildings
Queen Anne Battery
Plymouth
Devon
PL4 0LP
England
Accountants
Sean Clarke Accountancy
7 Southbrook Road
Bovey Tracey
Devon
TQ13 9YZ
Waterfield Homes Limited
Statement of financial position
as at 31 March 2025
Tangible assets
25,331
28,472
Investment property
30,199,865
28,804,700
Debtors
2,781,104
2,612,107
Cash at bank and in hand
1,035,460
242,317
Creditors: amounts falling due within one year
(173,365)
(48,976)
Net current assets
3,649,109
2,815,763
Total assets less current liabilities
33,974,308
31,648,938
Creditors: amounts falling due after more than one year
(15,850,018)
(15,043,376)
Provisions for liabilities
Deferred tax
(4,209,237)
(3,860,445)
Net assets
13,915,053
12,745,117
Called up share capital
10
10
Profit and loss account
13,915,043
12,745,107
Shareholders' funds
13,915,053
12,745,117
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 17 December 2025 and were signed on its behalf by
Mr M Conyers
Director
Company Registration No. 04037642
Waterfield Homes Limited
Notes to the Accounts
for the year ended 31 March 2025
Waterfield Homes Limited is a private company, limited by shares, registered in England and Wales, registration number 04037642. The registered office is 10 Lynher Buildings, Queen Anne Battery, Plymouth, Devon, PL4 0LP, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance
Fixtures & fittings
25% Reducing Balance
Computer equipment
3 Years Straight Line
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Waterfield Homes Limited
Notes to the Accounts
for the year ended 31 March 2025
4
Intangible fixed assets
Other
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2024
5,830
36,898
11,638
11,507
65,873
Additions
-
4,500
-
603
5,103
At 31 March 2025
5,830
41,398
11,638
12,110
70,976
At 1 April 2024
5,561
9,225
11,108
11,507
37,401
Charge for the year
69
8,043
132
-
8,244
At 31 March 2025
5,630
17,268
11,240
11,507
45,645
At 31 March 2025
200
24,130
398
603
25,331
At 31 March 2024
269
27,673
530
-
28,472
Fair value at 1 April 2024
28,804,700
Net gain from fair value adjustments
1,395,165
At 31 March 2025
30,199,865
Investment properties have been valued as at 30 June 2021 on the basis of their open market value with vacant possession, by the director M F Conyers Esq.
7
Investments
Other investments
Valuation at 1 April 2024
-
Valuation at 31 March 2025
100,000
Waterfield Homes Limited
Notes to the Accounts
for the year ended 31 March 2025
Amounts falling due within one year
Amounts due from group undertakings etc.
2,682,371
2,295,592
Other debtors
98,733
195,349
9
Creditors: amounts falling due within one year
2025
2024
Obligations under finance leases and hire purchase contracts
29,723
33,840
Trade creditors
127,499
177,518
Taxes and social security
58,328
(43,909)
Other creditors
11,538
16,079
Loans from directors
(56,126)
(135,872)
10
Creditors: amounts falling due after more than one year
2025
2024
Bank loans
15,850,018
15,043,376
11
Transactions with related parties
The company owns 25% of the voting share capital in a dormant company called 50 North Street Plymouth Ltd.
The company also owns 100% of the voting share capital in Unity Build & Repair Ltd and Enigma Plymouth Ltd.
At the year end the company was owed by Waterfield Lettings Limited, a company in which Mr M F Conyers is the sole director and shareholder £1,150,084 (2020: the company owed Waterfield Lettings Ltd £114,435).
At the year end the company owed Unity Build & Repair Ltd £100,037 (2020: the company was owed £17,689) and owed Enigma Plymouth Ltd £5,642 (2020: the company was owed £1,259).
Waterfield Homes Limited is ultimately controlled by M F Conyers Esq, the sole director and shareholder.
12
Average number of employees
During the year the average number of employees was 4 (2024: 3).