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Registered number: 04435769
WATERBEACH PROPERTY COMPANY LTD.
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 NOVEMBER 2025
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WATERBEACH PROPERTY COMPANY LTD.
REGISTERED NUMBER: 04435769
BALANCE SHEET
AS AT 30 NOVEMBER 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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WATERBEACH PROPERTY COMPANY LTD.
REGISTERED NUMBER: 04435769
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2025
The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 August 2026.
The notes on pages 3 to 7 form part of these financial statements.
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WATERBEACH PROPERTY COMPANY LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
Waterbeach Property Company Limited is a private limited company incorporated in England and Wales and its registered office is Charles Lake House, Claire Causeway, Crossways Business Park, Dartford, Kent, DA2 6QA. The principal activity of the company is property development.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
The company has net liabilities of £6,666,034 (2024: £2,780,811) following the write down (impairment) of property development stock and financing costs incurred. As such the company is reliant on the support of its creditors, and in particular specific finance providers of bank loans, to continue to meet financial obligations as they fall due.
The directors expect the financial support of its finance providers to continue while the properties are marketed for sale, and until sales proceeds are realised for all properties. At this point it is envisaged that the company will cease to trade and will be wound up, and the directors and finance providers will need to agree on the process required given the net liabilitiy position will result in a shortfall to creditors. As a result the company is not considered a going concern.
For convenience, the accounts presentation accords with the going concern basis. However in view of the above all assets have been stated at what the directors consider to be their net realisable value.
The directors consider that no further material adjustments are anticipated to arise as a result of the planned discontinuance of trade, although further losses will accrue in future periods as the bank loans continue to accrue interest.
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WATERBEACH PROPERTY COMPANY LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
2.Accounting policies (continued)
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
∙the company has transferred the significant risks and rewards of ownership to the buyer;
∙the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
∙the amount of revenue can be measured reliably;
∙it is probable that the company will receive the consideration due under the transaction; and
∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Interest income is recognised in profit or loss using the effective interest method.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
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Stocks (including work in progress)
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Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
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WATERBEACH PROPERTY COMPANY LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
2.Accounting policies (continued)
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
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The average monthly number of employees, including directors, during the year was 1 (2024 - 2).
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Work in progress - Development properties
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WATERBEACH PROPERTY COMPANY LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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The following liabilities were secured:
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Bank loans (due in less and more than one year)
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Details of security provided:
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Bank loans amounting to £10,358,512 (2024: £7,853,322) are secured by a fixed charge over the development properties held.
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WATERBEACH PROPERTY COMPANY LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
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Creditors: Amounts falling due after more than one year
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Analysis of the maturity of loans is given below:
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Amounts falling due within one year
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Amounts falling due 1-2 years
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Amounts falling due 2-5 years
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Allotted, called up and fully paid
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500 (2024 - 500) Ordinary A Shares shares of £1.00 each
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250 (2024 - 250) Ordinary B Shares shares of £1.00 each
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250 (2024 - 250) Ordinary C Shares shares of £1.00 each
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Related party transactions
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Included within other creditors due within one year is a balance owed to a former director amounting to £654,590 (2024: £656,940).
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