2 false false false false false false false false false false true false false false false false false No description of principal activity 2024-11-01 Sage Accounts Production Advanced 2024 - FRS102_2024 1 1 1 xbrli:pure xbrli:shares iso4217:GBP 01154869 2024-11-01 2025-10-31 01154869 2025-10-31 01154869 2024-10-31 01154869 2023-11-01 2024-10-31 01154869 2024-10-31 01154869 2023-10-31 01154869 core:FurnitureFittings 2024-11-01 2025-10-31 01154869 core:MotorVehicles 2024-11-01 2025-10-31 01154869 bus:RegisteredOffice 2024-11-01 2025-10-31 01154869 bus:LeadAgentIfApplicable 2024-11-01 2025-10-31 01154869 bus:Director1 2024-11-01 2025-10-31 01154869 bus:Director2 2024-11-01 2025-10-31 01154869 bus:CompanySecretary1 2024-11-01 2025-10-31 01154869 core:FurnitureFittings 2024-10-31 01154869 core:MotorVehicles 2024-10-31 01154869 core:LandBuildings 2025-10-31 01154869 core:FurnitureFittings 2025-10-31 01154869 core:MotorVehicles 2025-10-31 01154869 core:AfterOneYear 2025-10-31 01154869 core:AfterOneYear 2024-10-31 01154869 core:WithinOneYear 2025-10-31 01154869 core:WithinOneYear 2024-10-31 01154869 core:ShareCapital 2025-10-31 01154869 core:ShareCapital 2024-10-31 01154869 core:RetainedEarningsAccumulatedLosses 2025-10-31 01154869 core:RetainedEarningsAccumulatedLosses 2024-10-31 01154869 core:CostValuation core:Non-currentFinancialInstruments 2025-10-31 01154869 core:Non-currentFinancialInstruments 2025-10-31 01154869 core:Non-currentFinancialInstruments 2024-10-31 01154869 core:LandBuildings 2024-10-31 01154869 core:FurnitureFittings 2024-10-31 01154869 core:MotorVehicles 2024-10-31 01154869 bus:SmallEntities 2024-11-01 2025-10-31 01154869 bus:AuditExemptWithAccountantsReport 2024-11-01 2025-10-31 01154869 bus:SmallCompaniesRegimeForAccounts 2024-11-01 2025-10-31 01154869 bus:PrivateLimitedCompanyLtd 2024-11-01 2025-10-31 01154869 bus:FullAccounts 2024-11-01 2025-10-31 01154869 core:OfficeEquipment 2024-11-01 2025-10-31 01154869 core:OfficeEquipment 2025-10-31 01154869 core:OfficeEquipment 2024-10-31
COMPANY REGISTRATION NUMBER: 01154869

WSG PROPERTIES LTD

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 October 2025

WSG PROPERTIES LTD

FINANCIAL STATEMENTS

YEAR ENDED 31 OCTOBER 2025

Contents | Page

Officers and professional advisers | 1

Statement of financial position | 2

Notes to the financial statements | 4

WSG PROPERTIES LTD

OFFICERS AND PROFESSIONAL ADVISERS

The board of directors | S K Gilbert
| W A Gilbert

Company secretary | S K Gilbert

Registered office | Hallmark House
| High Street
| Waddington
| Lincoln
| Lincolnshire
| England
| LN5 9RF

Accountants | Streets LLP
| Chartered accountants
| Tower House
| Lucy Tower Street
| Lincoln
| Lincolnshire
| LN1 1XW

WSG PROPERTIES LTD

STATEMENT OF FINANCIAL POSITION

31 October 2025

| 2025 | 2024
Note | £ | £ | £

Fixed assets

Tangible assets | 5 |  | 5,049,021 | 5,065,857
Investments | 6 |  | 1 | 1
|  | ------------- | -------------
|  | 5,049,022 | 5,065,858

Current assets

Debtors | 7 | 489,309 |  | 421,071
Cash at bank and in hand | 57,805 |  | 79,021
| ---------- |  | ----------
| 547,114 |  | 500,092

Creditors: amounts falling due within one year | 8 | 92,135 |  | 158,065
| ---------- |  | ----------
Net current assets |  | 454,979 | 342,027
|  | ------------- | -------------
Total assets less current liabilities |  | 5,504,001 | 5,407,885

Creditors: amounts falling due after more than one year | 9 |  | 2,300,907 | 2,190,506

Provisions

Taxation including deferred tax |  | 391,237 | 393,027
|  | ------------- | -------------
Net assets |  | 2,811,857 | 2,824,352
|  | ------------- | -------------

WSG PROPERTIES LTD

STATEMENT OF FINANCIAL POSITION (continued)

31 October 2025

| 2025 | 2024
Note | £ | £ | £

Capital and reserves

Called up share capital |  | 202 | 202
Profit and loss account |  | 2,811,655 | 2,824,150
|  | ------------- | -------------
Shareholders funds |  | 2,811,857 | 2,824,352
|  | ------------- | -------------

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 year ending 31 October 2025 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 .
These financial statements were approved by the board of directors and authorised for issue on 2 June 2026 , and are signed on behalf of the board by:

S K Gilbert
Director

Company registration number: 01154869

WSG PROPERTIES LTD

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 OCTOBER 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hallmark House, High Street, Waddington, Lincoln, Lincolnshire, LN5 9RF, England.
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.
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 actual outcome may diverge from these estimates if other assumptions are made or other conditions arise. Significant judgements: No judgements have been made which would have a significant effect on the amounts recognised in the financial statements. Key sources of estimation uncertainty: Investment property valuations - investment properties are revalued each year end by the director at open market value.
Revenue recognition
The turnover shown in the profit and loss account represents rental income due for the year, net of any VAT due and recognised on an accruals basis.
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:

| Fixtures and fittings | - | 33% straight line
| Motor vehicles | - | 25% straight line
| Computer equipment | - | 33% straight line

Investment property is not depreciated.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
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.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
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.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a 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. Debt instruments are subsequently measured at amortised cost. Other financial instruments, including derivatives, are recognised at fair value, with any subsequent changes to fair value recognised in profit or loss.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).
5. Tangible assets

| Investment property | Fixtures and fittings | Motor vehicles | Computer equipment | Total
| £ | £ | £ | £ | £
Cost |  |  |  |  |
At 1 November 2024 and 31 October 2025 | 5,033,442 | 6,846 | 63,376 | 3,060 | 5,106,724
| ------------- | ------- | --------- | ------- | -------------
Depreciation |  |  |  |  |
At 1 November 2024 | – | 5,285 | 33,294 | 2,288 | 40,867
Charge for the year | – | 643 | 15,844 | 349 | 16,836
| ------------- | ------- | --------- | ------- | -------------
At 31 October 2025 | – | 5,928 | 49,138 | 2,637 | 57,703
| ------------- | ------- | --------- | ------- | -------------
Carrying amount |  |  |  |  |
At 31 October 2025 | 5,033,442 | 918 | 14,238 | 423 | 5,049,021
| ------------- | ------- | --------- | ------- | -------------
At 31 October 2024 | 5,033,442 | 1,561 | 30,082 | 772 | 5,065,857
| ------------- | ------- | --------- | ------- | -------------

Tangible assets held at valuation
Investment property is revalued annually on an open market basis by the directors.
6. Investments

| Shares in group undertakings
| £
Cost |
At 1 November 2024 and 31 October 2025 | 1
| ----
Impairment |
At 1 November 2024 and 31 October 2025 | –
| ----

Carrying amount |
At 31 October 2025 | 1
| ----
At 31 October 2024 | 1
| ----

7. Debtors

| 2025 | 2024
| £ | £
Trade debtors | 8,464 | 6,974
Amounts owed by group undertakings and undertakings in which the company has a participating interest | 461,649 | 387,542
Other debtors | 19,196 | 26,555
| ---------- | ----------
| 489,309 | 421,071
| ---------- | ----------

8. Creditors: amounts falling due within one year

| 2025 | 2024
| £ | £
Trade creditors | 5,808 | 9,321
Corporation tax | 18,235 | 6,667
Other creditors | 68,092 | 142,077
| --------- | ----------
| 92,135 | 158,065
| --------- | ----------

Included within other creditors are liabilities brought forward under Hire Purchase contracts amounting to £9,353. This balance was fully repaid during the year.
9. Creditors: amounts falling due after more than one year

| 2025 | 2024
| £ | £
Bank loans and overdrafts | 2,300,907 | 2,190,506
| ------------- | -------------

Bank loans and overdrafts are secured against the investment property owned by the company.
10. Related party transactions
During the year property management fees amounting to £59,494 (2024: £53,348) were paid to Cloud Lettings Ltd, a company in which S Gilbert is a director. No amounts were outstanding for payment at the year end (2024: £nil). No further transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102 (Section 1A).
11. Controlling party
The company was under the control of the directors throughout the current and previous year.