Waterford Chase Properties Limited 31/10/2025 iXBRL

Deferred tax (note 11)

At 1 November 2024 and 31 October 2025

Company registration number: 06974302

Waterford Chase Properties Limited

Unaudited filleted financial statements

31 October 2025

Waterford Chase Properties Limited

Contents

Statement of financial position

Notes to the financial statements

Waterford Chase Properties Limited

Statement of financial position

31 October 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Investments	6	1,000,000		1,000,000
		_______		_______
			1,000,000		1,000,000

Current assets
Debtors	7	6,142		12,354
Cash at bank and in hand		73,062		20,801
		_______		_______
		79,204		33,155
Creditors: amounts falling due
within one year	8	( 179,796)		( 136,494)
		_______		_______
Net current liabilities			( 100,592)		( 103,339)
			_______		_______
Total assets less current liabilities			899,408		896,661

Creditors: amounts falling due
after more than one year	9		( 320,045)		( 316,534)

Provisions for liabilities	10		( 119,342)		( 119,342)

			_______		_______
Net assets			460,021		460,785
			_______		_______

Capital and reserves
Called up share capital			100		100
Fair value reserve			459,521		459,521
Profit and loss account			400		1,164
			_______		_______
Shareholders funds			460,021		460,785
			_______		_______

For the year ending 31 October 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.

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 comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 15 September 2026 , and are signed on behalf of the board by:

Mr Karl Lord

Director

Company registration number: 06974302

Waterford Chase Properties Limited

Notes to the financial statements

Year ended 31 October 2025

1. General information

The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Unit 5a Christleton Court, Manor Park, Runcorn, Cheshire, WA7 1ST.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.

When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Investment property

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Impairment

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. 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 are largely independent of the cash inflows from other assets or groups of assets.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).

5. Tax on profit

Major components of tax expense

	2025	2024
	£	£
Current tax:
UK current tax expense	13,840	2,642
Adjustments in respect of previous periods	( 553)	-
	_______	_______
Tax on profit	13,287	2,642
	_______	_______

6. Investments

	Investment property	Total
	£	£
Fair Value
At 1 November 2024 and 31 October 2025	1,000,000	1,000,000
	_______	_______
Carrying amount
At 31 October 2025	1,000,000	1,000,000
	_______	_______
At 31 October 2024	1,000,000	1,000,000
	_______	_______

National Westminster Bank plc instructed Legat Owen Limited to provide an appraisal and valuation of the property. The valuation was carried out in accordance with the current RICS Valuation - Global Standards effective January 2020, which incorporates the IVS, and the UK National Supplement effective January 2019 (the RICS Red Book as applicable) on the basis of market value. The market value detailed by Legat Owen Limited in their report was £1,000,000, as at the valuation date of 31 October 2023, with no special assumptions being made. The investment property was valued on an open market basis at the year end date, by the company directors. The directors are of the opinion that £1,000,000 is an amount for which the property could be exchanged between knowledgeable, willing parties in an arm's length transaction.

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

2025 - Cost - £421,138

2024 - Cost - £421,138

7. Debtors

	2025	2024
	£	£
Trade debtors	3,600	-
Prepayments and accrued income	2,542	12,354
	_______	_______
	6,142	12,354
	_______	_______

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	15,700	33,774
Trade creditors	3,950	108
Amounts owed to group undertakings	133,777	88,377
Corporation tax	15,976	5,988
Social security and other taxes	2,800	387
Accruals and deferred income	7,593	7,860
	_______	_______
	179,796	136,494
	_______	_______

The bank loan is secured by way of fixed charge over the investment property and a floating charge over all other present and future assets of the company.

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	320,045	316,534
	_______	_______

The bank loan is secured by way of fixed charge over the investment property and a floating charge over all other present and future assets of the company.

Included within creditors: amounts falling due after more than one year is an amount of £243,779 (2024: 265,073) in respect of liabilities payable or repayable by instalments which fall due for payment after more than 5 years from the reporting date.

10. Provisions

11. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions (note 10)	119,342	119,342
	_______	_______

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Fair value adjustment of investment property	119,342	119,342
	_______	_______

12. Related party transactions

KSL Investments Limited is considered to be a related party by virtue of being the ultimate parent company. During the year, the company paid dividends to KSL Investments Limited in the sum of £45,000 (2024: £10,000). At the year end date, the company owed KSL Investments Limited £92,004 (2024: £47,004).Aquabond Limited is considered to be a related party by virtue of being under common control. During the year, the company charged Aquabond Limited rent in the sum of £73,333 (2024: £60,000). During the year, Aquabond Limited charged the company management fees in the sum of £12,000 (2024: £12,000). At the year end date, the company owed Aquabond Limited £41,773 (2024: £41,373).Both related party loans are interest free, unsecured and have no specific repayment terms.The bank loan in the company is secured by an intercompany cross guarantee and debenture between the company, Aquabond Limited and KSL Investments Limited.The bank loan in Aquabond Limited is secured by an intercompany cross guarantee and debenture between the company, Aquabond Limited and KSL Investments Limited.

13. Ultimate parent company

The company is a 100% subsidiary of KSL Investments Limited. The parent's registered office is Unit 5a Christleton Court, Manor Park, Runcorn, Cheshire, WA7 1ST.