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Company registration number: 15503963
| UNAUDITED FINANCIAL STATEMENTS
| FOR THE PERIOD ENDED 31 MARCH 2025
| WATFORD WAY DEVELOPMENTS LIMITED
WATFORD WAY DEVELOPMENTS LIMITED |  |
COMPANY INFORMATION
Directors | A L Dawson (appointed 19 February 2024)
| G J Stewart (appointed 19 February 2024)
Registered number | 15503963
Registered office | 4th Floor
| 95 Gresham Street
| London
| EC2V 7AB
Accountants | Menzies LLP
| Chartered Accountants
| 4th Floor
| 95 Gresham Street
| London
| EC2V 7AB
WATFORD WAY DEVELOPMENTS LIMITED REGISTERED NUMBER:15503963 |  |
STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2025
|  | 2025
Note |  | £
Fixed assets |  |  |
Investments | 4 |  | 100
Investment property | 5 |  | 12,463,658
|  |  | 12,463,758
Current assets |  |  |
Debtors: amounts falling due within one year | 6 | 120,444 |
Cash at bank and in hand |  | 280,589 |
|  | 401,033 |
Creditors: amounts falling due within one year | 7 | (2,734,908) |
Net current liabilities |  |  | (2,333,875)
Total assets less current liabilities |  |  | 10,129,883
Creditors: amounts falling due after more than one year | 8 |  | (7,983,391)
Net assets |  |  | 2,146,492
Capital and reserves |  |  |
Called up share capital |  |  | 200
Capital contribution reserve |  |  | 2,929,465
Profit and loss account |  |  | (783,173)
|  |  | 2,146,492
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WATFORD WAY DEVELOPMENTS LIMITED REGISTERED NUMBER:15503963 |  |
STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 MARCH 2025 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
A L Dawson
Director
Date: 5 March 2026
The notes on pages 4 to 7 form part of these financial statements. Page 2
WATFORD WAY DEVELOPMENTS LIMITED |  |
STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED 31 MARCH 2025
| Called up share capital | Capital contribution reserve | Profit and loss account | Total equity
| £ | £ | £ | £
Comprehensive income for the period |  |  |  |
Loss for the period | - | - | (783,173) | (783,173)
Total comprehensive income for the period | - | - | (783,173) | (783,173)
Contributions by and distributions to owners |  |  |  |
Shares issued during the period | 200 | - | - | 200
Capital contribution | - | 2,929,465 | - | 2,929,465
At 31 March 2025 | 200 | 2,929,465 | (783,173) | 2,146,492
| The notes on pages 4 to 7 form part of these financial statements.
Page 3
WATFORD WAY DEVELOPMENTS LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025
1. | General information
Watford Way Developments Limited is a private company, limited by shares, registered in England & Wales, registration number 15503963. The registered office is disclosed on the company information page. This is the company's first period trading and covers the period 19 February 2024 to 31 March 2025. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies. The following principal accounting policies have been applied:
| 2.2 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.3 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.4 | Investment property
Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
| 2.5 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment. Page 4
WATFORD WAY DEVELOPMENTS LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.6 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. Basic financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities. Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
3. | Employees
| The average monthly number of employees, including the directors, during the period was as follows:
|  |  | 31 March
|  |  | 2025
|  |  | No.
|  | Directors | 2
4. | Fixed asset investments
|  | Investments in subsidiary companies
|  | £
| Cost or valuation |
| Additions | 100
| At 31 March 2025 | 100
Page 5
WATFORD WAY DEVELOPMENTS LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025
5. | Investment property
|  | Freehold investment property
|  | £
| Valuation |
| Additions at cost | 12,463,658
| At 31 March 2025 | 12,463,658
The 2025 valuations were made by the directors, on an open market value for existing use basis.
6. | Debtors
|  |  |  |  | 2025
|  |  |  |  | £
| Other debtors | 118,457
| Prepayments | 1,987
|  | 120,444
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025
|  |  |  |  | £
| Trade creditors | 2,690,161
| Amounts owed to associated undertakings | 37,297
| Other creditors | 100
| Accruals | 7,350
|  | 2,734,908
8. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025
|  |  |  |  | £
| Loans | 7,983,391
|  | 7,983,391
Page 6
WATFORD WAY DEVELOPMENTS LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025
9. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2025
|  |  |  |  | £
| Amounts falling due after more than one year |
| Loans | 7,983,391
|  | 7,983,391
10. | Reserves
Capital contribution reserve The capital contribution reserve represents the fair value adjustment on shareholder loans.
11. | Related party transactions
| The company is in receipt of two interest free loans from associated companies. These loans total £10,184,530 and have been accounted for as basic financial instruments. They have therefore been valued at their fair value using the effective interest rate which has resulted in a loan as at 31 March 2025, repayable within 5 years of £7,983,391 and a capital contribution reserve of £2,929,465.
Page 7