Waitt Homes (Pierview) Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 10966722

WAITT HOMES (PIERVIEW) LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

30 September 2025

WAITT HOMES (PIERVIEW) LIMITED

STATEMENT OF INCOME AND RETAINED EARNINGS

YEAR ENDED 30 SEPTEMBER 2025

	2025	2024
Note	£	£
RETAINED LOSSES AT THE START OF THE YEAR	( 242)	( 265)
	---------	-----
RETAINED LOSSES AT THE END OF THE YEAR	( 11,473)	( 242)
	---------	-----

WAITT HOMES (PIERVIEW) LIMITED

STATEMENT OF FINANCIAL POSITION

30 September 2025

	2025	2024
Note	£	£

FIXED ASSETS

Tangible assets	4	2,665,250	–

CURRENT ASSETS

Stocks		–	2,432,600
Debtors	5	46,311	450
Cash at bank and in hand		4,974	11,639
		---------	--------------
		51,285	2,444,689

CREDITORS: amounts falling due within one year	6	1,180,958	2,442,931
		--------------	--------------
NET CURRENT (LIABILITIES)/ASSETS		( 1,129,673)	1,758
		--------------	--------
TOTAL ASSETS LESS CURRENT LIABILITIES		1,535,577	1,758

CREDITORS: amounts falling due after more than one year	7	1,545,050	–
		--------------	--------
NET (LIABILITIES)/ASSETS		( 9,473)	1,758
		--------------	--------

CAPITAL AND RESERVES

Called up share capital	2,000	2,000
Profit and loss account	( 11,473)	( 242)
	---------	--------
SHAREHOLDERS (DEFICIT)/FUNDS	( 9,473)	1,758
	---------	--------

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 30 September 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 .

WAITT HOMES (PIERVIEW) LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

30 September 2025

These financial statements were approved by the board of directors and authorised for issue on 23 June 2026 , and are signed on behalf of the board by:

Mr W Waitt

Director

Company registration number: 10966722

WAITT HOMES (PIERVIEW) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 SEPTEMBER 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 3 High Street, St Lawrence, Ramsgate, CT11 0QL, Kent.

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.

Disclosure Exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102.

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 .

Revenue Recognition

Turnover represents Rents receivable from the flats in the property.

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.

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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Work in progress is measured at the lower of cost and estimated Market Value less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

4. TANGIBLE ASSETS

	Freehold property
	£
Cost
At 1 October 2024	–
Additions	2,665,250
	--------------
At 30 September 2025	2,665,250
	--------------
Depreciation
At 1 October 2024 and 30 September 2025	–
	--------------
Carrying amount
At 30 September 2025	2,665,250
	--------------
At 30 September 2024	–
	--------------

5. DEBTORS

	2025	2024
	£	£
Trade debtors	706	–
Other debtors	45,605	450
	---------	-----
	46,311	450
	---------	-----

6. CREDITORS: amounts falling due within one year

	2025	2024
	£	£
Accruals and deferred income	20,065	137,390
Director loan accounts	1,135,107	947,707
Other creditors	25,786	1,357,834
	--------------	--------------
	1,180,958	2,442,931
	--------------	--------------

Last year Other Creditors included Loan borrowed from Hampshire Trust Bank Plc, in the sum of £1,339,434.00. This was repaid in the year. The Bank had first Legal charge secured over the Property and first floating charge over all the undertaking, property and assets of the company. They also had a personal guarantee limited to £308,400 plus interest, fees and cost of collection from Mr Warren Waitt.

7. CREDITORS: amounts falling due after more than one year

	2025	2024
	£	£
Mortgage Account	1,545,050	–
	--------------	-----

Mortgage Account represents borrowing secured by First fixed and floating charge on the Freehold property, Gross Rents, Licence fees and any other money at any time derived from the property. It is interest only mortgage. The Directors Warren ST John Waitt and Belinda Jane Waitt are acting as personal guarantors.

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the directors entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mr W Waitt	( 947,707)	( 187,400)	( 1,135,107)
	-----------	-----------	--------------

	2024
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mr W Waitt	( 945,396)	( 2,311)	( 947,707)
	-----------	--------	-----------