REGISTERED NUMBER: 04021741 (England and Wales)

WALMGATE PROPERTY DEVELOPERS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30TH APRIL 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr M V C Cain

Mr C H Cain

SECRETARY:

Mr C H Cain

REGISTERED OFFICE:

80 West View

Barlby Road

Selby

North Yorkshire

YO8 5BD

REGISTERED NUMBER:

04021741 (England and Wales)

ACCOUNTANTS:

KTC

Chartered Certified Accountants

80 West View

Barlby Road

Selby

North Yorkshire

YO8 5BD

BANKERS:

HSBC Bank Plc

Market Place

Selby

North Yorkshire

YO8 4PA

FIXED ASSETS

Tangible assets

4

3,561

3,576

Investment property

5

2,115,000

2,540,000

2,118,561

2,543,576

CURRENT ASSETS

Debtors

6

-

2,603

Cash at bank

6,771

9,559

6,771

12,162

CREDITORS

Amounts falling due within one year

7

(74,554

)

(42,574

)

NET CURRENT LIABILITIES

(67,783

)

(30,412

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,050,778

2,513,164

CREDITORS

Amounts falling due after more than one year

8

(695,292

)

(832,997

)

PROVISIONS FOR LIABILITIES

(193,575

)

(246,693

)

NET ASSETS

1,161,911

1,433,474

CAPITAL AND RESERVES

Called up share capital

4

4

Undistributable reserve

10

944,336

1,186,510

Retained earnings

217,571

246,960

SHAREHOLDERS' FUNDS

1,161,911

1,433,474

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30th April 2026 and were signed on its behalf by:

Mr C H Cain - Director

Mr M V C Cain - Director

1.	STATUTORY INFORMATION

Walmgate Property Developers Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Computer equipment

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1st May 2024

8,189

4,387

12,576

Additions

-

762

762

At 30th April 2025

8,189

5,149

13,338

DEPRECIATION

At 1st May 2024

5,589

3,411

9,000

Charge for year

390

387

777

At 30th April 2025

5,979

3,798

9,777

NET BOOK VALUE

At 30th April 2025

2,210

1,351

3,561

At 30th April 2024

2,600

976

3,576

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st May 2024

2,540,000

Disposals

(430,000

)

Revaluations

5,000

At 30th April 2025

2,115,000

NET BOOK VALUE

At 30th April 2025

2,115,000

At 30th April 2024

2,540,000

Fair value at 30th April 2025 is represented by:

£

Valuation in 2002

65,711

Valuation in 2006

303,747

Valuation in 2007

(10,000

)

Valuation in 2008

(86,563

)

Valuation in 2009

(50,000

)

Valuation in 2011

40,000

Valuation in 2012

20,000

Valuation in 2013

25,000

Valuation in 2014

25,000

Valuation in 2015

63,000

Valuation in 2016

159,500

Valuation in 2018

(112,500

)

Valuation in 2019

95,000

Valuation in 2020

(175,000

)

Valuation in 2021

412,000

Valuation in 2022

25,000

Valuation in 2023

(155,700

)

Valuation in 2024

487,825

Valuation in 2025

5,000

Cost

977,980

2,115,000

If investment property had not been revalued it would have been included at the following historical cost:

2025

2024

£

£

Cost

977,980

1,107,691

Investment property was valued on an open market basis on 30th April 2025 by Colin Cain, a director of the company.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

-

2,579

Prepayments and accrued income

-

24

-

2,603

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Tax

45,058

-

Directors' current accounts

27,292

39,289

Accruals and deferred income

2,204

3,285

74,554

42,574

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

695,292

832,997

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

695,292

832,997

The loans are secured by fixed charges over the freehold properties held as investment properties.

10.

RESERVES

Undistributable

reserve

£

At 1st May 2024

1,186,510

Surplus/deficit on revaluation

5,000

Transfer to profit and loss

account

(243,424

)

Deferred tax movement

(3,750

)

At 30th April 2025

944,336