The Watford Property Company Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03610734 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

THE WATFORD PROPERTY COMPANY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D C Woods

S Byerley

SECRETARY:

D C Woods

REGISTERED OFFICE:

Nagler Simmons

5 Beaumont Gate

Shenley Hill

Radlett

Hertfordshire

WD7 7AR

REGISTERED NUMBER:

03610734 (England and Wales)

ACCOUNTANTS:

Nagler Simmons

Chartered Accountants

5 Beaumont Gate

Shenley Hill

Radlett

WD7 7AR

FIXED ASSETS

Tangible assets

4

2,445,000

CURRENT ASSETS

Debtors

5

198,071

181,284

Cash at bank

21,385

91,225

219,456

272,509

CREDITORS

Amounts falling due within one year

6

24,100

29,972

NET CURRENT ASSETS

195,356

242,537

TOTAL ASSETS LESS CURRENT LIABILITIES

2,640,356

2,687,537

CREDITORS

Amounts falling due after more than one
year

7

(1,564,640

)

(1,569,839

)

PROVISIONS FOR LIABILITIES

(424,983

)

(426,983

)

NET ASSETS

650,733

690,715

CAPITAL AND RESERVES

Called up share capital

1,000

Fair value reserve

9

1,274,948

1,280,948

Retained earnings

9

(625,215

)

(591,233

)

SHAREHOLDERS' FUNDS

650,733

690,715

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Income Statement has not been delivered.

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

S Byerley - Director

1.	STATUTORY INFORMATION

The Watford Property Company 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 represents rental income from properties.

Tangible fixed assets

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

Investment Properties

-

not provided

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Investment property

Investment property is included at fair value, with any gain or loss recognised in the income statement. Deferred taxation is provided on the gains at the rate expected to apply when the property is sold.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - 2 ).

4.	TANGIBLE FIXED ASSETS

Investment

Properties

£

COST OR VALUATION

At 1 January 2025

2,445,000

Additions

8,000

Revaluations

(8,000

)

At 31 December 2025

2,445,000

NET BOOK VALUE

At 31 December 2025

2,445,000

At 31 December 2024

2,445,000

Cost or valuation at 31 December 2025 is represented by:

Investment

Properties

£

Valuation in 2025

2,445,000

If investment properties had not been revalued they would have been included at the following historical cost:

31.12.25

31.12.24

£

Cost

745,067

737,067

Investment properties were valued on a fair value basis on 31 December 2025 by the director, D C Woods .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

Other debtors

198,071

181,284

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

Bank loans (secured)

5,183

Taxation and social security

7,736

12,607

Other creditors

11,181

12,182

24,100

29,972

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.25

31.12.24

£

Other creditors

1,564,640

1,569,839

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank and building society

loans- >5 years non-instalment

1,546,931

1,546,947

1,546,931

1,546,947

8.	SECURED DEBTS

The mortgages and loans are secured by way of fixed and floating charges over the properties and assets of the company.

9.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

At 1 January 2025

(591,233

)

1,280,948

689,715

Deficit for the year

(39,982

)

-

(39,982

)

Transfer deferred tax

(2,000

)

2,000

-

Transfer between reserves

8,000

(8,000

)

-

At 31 December 2025

(625,215

)

1,274,948

649,733

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2025 and 31 December 2024:

31.12.25

31.12.24

£

D C Woods

Balance outstanding at start of year

97,184

91,323

Amounts advanced

-

5,861

Amounts repaid

(15,458

)

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

81,726

97,184

S Byerley

Balance outstanding at start of year

35,213

3,721

Amounts advanced

22,920

31,492

Amounts repaid

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

58,133

35,213