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Company No: 05629741 (England and Wales)

# WILLETT FARM PROPERTIES LIMITED

### Unaudited Financial Statements
For the financial year ended 30 November 2025
Pages for filing with the registrar

WILLETT FARM PROPERTIES LIMITED

## Unaudited Financial Statements

For the financial year ended 30 November 2025

Contents

## ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF WILLETT FARM PROPERTIES LIMITED

For the financial year ended 30 November 2025

## ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF WILLETT FARM PROPERTIES LIMITED (continued)

For the financial year ended 30 November 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Willett Farm Properties Limited for the financial year ended 30 November 2025 which comprise the Balance Sheet and the related notes 1 to 8 from the Company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/regulation.

This report is made solely to the Director of Willett Farm Properties Limited, as a body, in accordance with the terms of our engagement letter dated 13 April 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Willett Farm Properties Limited and state those matters that we have agreed to state to the director of Willett Farm Properties Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Willett Farm Properties Limited and its Director as a body for our work or for this report.

It is your duty to ensure that Willett Farm Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Willett Farm Properties Limited. You consider that Willett Farm Properties Limited is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of Willett Farm Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Francis Clark LLP
Chartered Accountants

Centenary House
Peninsula Park
Rydon Lane
Exeter
Devon EX2 7XE

11 August 2026

WILLETT FARM PROPERTIES LIMITED

## BALANCE SHEET

As at 30 November 2025
WILLETT FARM PROPERTIES LIMITED

## BALANCE SHEET (continued)

As at 30 November 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 400,000 |  | 400,000
|  | 400,000 |  | 400,000
Current assets |  |  |  |
Debtors | 4 | 1,081 |  | 1,937
|  | 1,081 |  | 1,937
Creditors: amounts falling due within one year | 5 | ( 1,234) |  | ( 1,123)
Net current (liabilities)/assets |  | (153) |  | 814
Total assets less current liabilities |  | 399,847 |  | 400,814
Creditors: amounts falling due after more than one year | 6 | ( 224,023) |  | ( 224,265)
Net assets |  | 175,824 |  | 176,549
Capital and reserves |  |  |  |
Called-up share capital | 7 | 5,000 |  | 5,000
Profit and loss account |  | 170,824 |  | 171,549
Total shareholders' funds |  | 175,824 |  | 176,549

For the financial year ending 30 November 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Willett Farm Properties Limited (registered number: 05629741) were approved and authorised for issue by the Director on 11 August 2026. They were signed on its behalf by:

Anne Christine White Director |

WILLETT FARM PROPERTIES LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2025
WILLETT FARM PROPERTIES LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Willett Farm Properties Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Centenary House Peninsula Park, Rydon Lane, Exeter, EX2 7XE, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The director believes it is appropriate to prepare the financial statements on a going concern basis which assumes the company will continue in operational existence for the foreseeable future. The company will continue to meet its financial commitments through funding from the director. The director confirmed she will not withdraw her support for the foreseeable future.

##### Turnover

Turnover represents rental income received in the ordinary course of company's business and is recognised evenly over the rental period.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment.

Investment property | not depreciated

Investment property is measured at fair value with any change recognised in the profit and loss account.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

##### Financial instruments

The company holds the following financial instruments:
•Short term trade creditors;
•Short term trade debtors;
All financial instruments are classified as basic.
Recognition and Measurement
The company has chosen to apply the recognition and measurement principles in FRS102.
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

##### Ordinary share capital

The ordinary share capital of the Company is presented as equity.

##### Reserves

As at 30 November 2025, the profit and loss account included £177,675 of non-distributable reserves. This relates to the unrealised gains on investment property.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including the director | 1 |  | 1

#### 3. Tangible assets

| Investment property |  | Total
| £ |  | £
Cost |  |  |
At 01 December 2024 | 400,000 |  | 400,000
Fair value adjustments | 0 |  | 0
At 30 November 2025 | 400,000 |  | 400,000
Accumulated depreciation |  |  |
At 01 December 2024 | 0 |  | 0
At 30 November 2025 | 0 |  | 0
Net book value |  |  |
At 30 November 2025 | 400,000 |  | 400,000
At 30 November 2024 | 400,000 |  | 400,000

Investment property is stated at fair value at 30 November 2025, as estimated by the independent valuer by Symonds and Sampson on 23 December 2021. Value of property as per report is £400,000. The investment property has a historical cost of £181,163.

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 18 |  | 955
Prepayments | 1,063 |  | 982
| 1,081 |  | 1,937

#### 5. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Other creditors | 1,234 |  | 1,123

#### 6. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Other creditors | 224,023 |  | 224,265

There are no amounts included above in respect of which any security has been given by the small entity.

#### 7. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
5,000 Ordinary shares of £ 1.00 each | 5,000 |  | 5,000

#### 8. Related party transactions

Other related party transactions

| 2025 |  | 2024
| £ |  | £
The Partnership | 18 |  | 955

The shareholders of Willet Farm Properties Limited are also partners in the above partnership. The partnership uses company property as storage for which commercial rent is charged. The partnership pays expenses on behalf of the company. The above balance represents the amount due to the company from the partnership after off set of company expenses.