G J Wellman Property Holdings Limited

Contents

Statement of Financial Position	1 to 2
Notes to the Unaudited Financial Statements	3 to 11

G J Wellman Property Holdings Limited

(Registration number: 10129605)
Statement of Financial Position as at 30 September 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	2,910,650	2,885,662
Investments	6	2	2
		2,910,652	2,885,664
Current assets
Debtors	7	164,447	153,060
Cash at bank and in hand		229,725	94,101
		394,172	247,161
Creditors: Amounts falling due within one year	8	(163,217)	(42,699)
Net current assets		230,955	204,462
Total assets less current liabilities		3,141,607	3,090,126
Creditors: Amounts falling due after more than one year	8	(150,000)	(150,000)
Provisions for liabilities		(68,501)	(62,248)
Net assets		2,923,106	2,877,878
Capital and reserves
Called up share capital		2	2
Profit and loss account		2,923,104	2,877,876
Shareholders' funds		2,923,106	2,877,878

G J Wellman Property Holdings Limited

(Registration number: 10129605)
Statement of Financial Position as at 30 September 2025 (continued)

For the financial year ending 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the director on 1 June 2026
 

Mr Gary James Wellman Director

G J Wellman Property Holdings Limited

Notes to the Unaudited Financial Statements for the
Year Ended 30 September 2025

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Hunters Cross Farm
Higher Rocombe
Yawl Hill Lane
Lyme Regis
Dorset
DT7 3RW

Principal activity

The principal activity of the company is that of a property holding company.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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

G J Wellman Property Holdings Limited

Notes to the Unaudited Financial Statements for the
Year Ended 30 September 2025 (continued)

2	Accounting policies (continued)

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.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

G J Wellman Property Holdings Limited

Notes to the Unaudited Financial Statements for the
Year Ended 30 September 2025 (continued)

2	Accounting policies (continued)

Asset class	Depreciation method and rate
Freehold property	No depreciation charge
Fittings, fixtures and equipment	25% reducing balance

Impairment

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.

Investment property

The investment properties are stated at fair value. The valuation has been undertaken by the directors based on market conditions.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

G J Wellman Property Holdings Limited

Notes to the Unaudited Financial Statements for the
Year Ended 30 September 2025 (continued)

2	Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2024 - 0).

G J Wellman Property Holdings Limited

Notes to the Unaudited Financial Statements for the
Year Ended 30 September 2025 (continued)

4	Tangible assets

	Land and buildings £	Fixtures and fittings £	Total £
Cost or valuation
At 1 October 2024	2,885,562	1,008	2,886,570
Revaluations	25,013	-	25,013
At 30 September 2025	2,910,575	1,008	2,911,583
Depreciation
At 1 October 2024	-	908	908
Charge for the year	-	25	25
At 30 September 2025	-	933	933
Carrying amount
At 30 September 2025	2,910,575	75	2,910,650
At 30 September 2024	2,885,562	100	2,885,662

Included within the net book value of land and buildings above is £2,910,575 (2024 - £2,885,562) in respect of freehold land and buildings.
 

5	Investment properties

2025 £

The investment properties are stated at fair value. The valuation has been undertaken by the directors based on market conditions. The historical cost of these investment properties is £2,599,954 (prior year: £2,599,954).

There has been no valuation of investment property by an independent valuer.

6	Investments

	2025 £	2024 £
Investments in subsidiaries	2	2