The Worlingham Property Co. Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 00896898

The Worlingham Property Co. Limited

Unaudited financial statements

28 February 2026

The Worlingham Property Co. Limited

Statement of financial position

28 February 2026

	2026		2025
			(restated)
Note	£	£	£	£

Fixed assets

Tangible assets	5		2,499,643		2,414,885

Current assets

Debtors	6	61,272	49,784
Cash at bank and in hand		359,743	568,265
		---------	---------
		421,015	618,049

Creditors: Amounts falling due within one year	7	( 31,264)		( 26,021)
		---------		---------
Net current assets			389,751		592,028
			-----------		-----------
Total assets less current liabilities			2,889,394		3,006,913

Provisions

Taxation including deferred tax	( 254,280)	( 278,245)
	-----------	-----------
Net assets	2,635,114	2,728,668
	-----------	-----------

Capital and reserves

Called up share capital	20,000	20,000
Revaluation reserve	1,641,015	1,693,499
Profit and loss account	974,099	1,015,169
	-----------	-----------
Shareholders funds	2,635,114	2,728,668
	-----------	-----------

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 income statement has not been delivered.

For the year ending 28 February 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

The Worlingham Property Co. Limited

Statement of financial position (continued)

28 February 2026

These financial statements were approved by the board of directors and authorised for issue on 1 June 2026 , and are signed on behalf of the board by:

Mrs N Wright

Director

Company registration number: 00896898

The Worlingham Property Co. Limited

Notes to the financial statements

Year ended 28 February 2026

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4 Akethorpe Way, Lowestoft, Suffolk, NR32 4TR, 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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

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

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and 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. 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 recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	10% reducing balance
Fixtures and fittings	-	10% reducing balance
Motor vehicles	-	25% reducing balance
Computer equipment	-	25% straight line

Investment properties

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.

If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of employees during the year was 4 (2025: 4 ).

5. Tangible assets

	Investment property	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£	£
Cost or valuation
At 1 March 2025 (as restated)	2,368,500	18,035	16,498	59,405	11,185	2,473,623
Additions	169,109	–	–	–	–	169,109
Disposals	–	( 17,910)	–	–	( 840)	( 18,750)
Revaluations	( 69,943)	–	–	–	–	( 69,943)
	-----------	-------	-------	-------	-------	-----------
At 28 February 2026	2,467,666	125	16,498	59,405	10,345	2,554,039
	-----------	-------	-------	-------	-------	-----------
Depreciation
At 1 March 2025	–	13,382	11,199	23,741	10,416	58,738
Charge for the year	–	2	530	8,916	327	9,775
Disposals	–	( 13,277)	–	–	( 840)	( 14,117)
	-----------	-------	-------	-------	-------	-----------
At 28 February 2026	–	107	11,729	32,657	9,903	54,396
	-----------	-------	-------	-------	-------	-----------
Carrying amount
At 28 February 2026	2,467,666	18	4,769	26,748	442	2,499,643
	-----------	-------	-------	-------	-------	-----------
At 28 February 2025	2,368,500	4,653	5,299	35,664	769	2,414,885
	-----------	-------	-------	-------	-------	-----------

The investment properties were revalued by the directors at 28 February 2026 on the basis of open market value with existing use.

Tangible assets held at valuation

In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

	Investment property
	£
At 28 February 2026
Aggregate cost	541,309
Aggregate depreciation	(83,205)
	---------
Carrying value	458,104
	---------

At 28 February 2025
Aggregate cost	372,200
Aggregate depreciation	(83,205)
	---------
Carrying value	288,995
	---------

6. Debtors

	2026	2025
		(restated)
	£	£
Trade debtors	11,067	10,661
Amounts owed by group undertakings and undertakings in which the company has a participating interest	29,219	27,269
Other debtors	20,986	11,854
	-------	-------
	61,272	49,784
	-------	-------

7. Creditors: Amounts falling due within one year

	2026	2025
		(restated)
	£	£
Trade creditors	1,362	–
Social security and other taxes	–	1,685
Other creditors	29,902	24,336
	-------	-------
	31,264	26,021
	-------	-------

8. Prior period errors

The prior year has been restated due to an overstatement of the revaluation of investment property. This has resulted in an overstatement in the prior year of tangible assets, deferred tax and revaluation reserve. The prior year has been corrected by decreasing the value of tangible assets by £402,000, decreasing the deferred tax provision by £100,500 and subsequently decreasing the revaluation reserve by £301,500.

9. Directors' advances, credits and guarantees

At the year end the directors owed the company £nil (2025: £10,000). Beneficial loan interest of £nil (2025: £nil) was charged in relation to this loan during the year at the official HMRC rate of interest.

10. Controlling party

The immediate and ultimate parent company of this company is Worlingham Property Investments Limited , a company incorporated in England, who own 100% of the shares. The company's registered office is 4 Akethorpe Way, Lowestoft, Suffolk, United Kingdom, NR32 4TR.