Welford Properties Limited - Filleted accounts

Registered number

04014199

Welford Properties Limited

Filleted Accounts

30 June 2025

Welford Properties Limited
Registered number:		04014199
Balance Sheet
as at 30 June 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	4		1,050,682			442,560

Current assets
Debtors	5	79			76
Cash at bank and in hand		13,627			15,135
		13,706			15,211

Creditors: amounts falling due within one year	6	(238,818)			(259,112)

Net current liabilities			(225,112)			(243,901)

Total assets less current liabilities			825,570			198,659


Provisions for liabilities	7		(112,554)			-


Net assets			713,016			198,659

Capital and reserves
Called up share capital			100,000			100,000
Fair Value Reserve	8		495,688			-
Profit and loss account			117,328			98,659

Shareholders' funds			713,016			198,659

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mr Vincenzo Sperandeo
Director
Approved by the board on 18 August 2025

Welford Properties Limited
Notes to the Accounts
for the year ended 30 June 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover comprises of rental income.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Freehold buildings	0%
	Plant and machinery	15% reducing balance

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.



2	Tax on profit			2025		2024
				£		£

	Current tax:
	UK current tax expense			4,407		2,967

	Deferred tax
	Origination and reversal of timing difference			112,554		-

				116,961		2,967


3	Employees			2025		2024
Number					Number

	Average number of persons employed by the company			3		4


4	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Total
£			£		£
	Cost
	At 1 July 2024	441,758		11,773		453,531
	Additions	-		-		-
	Surplus on revaluation	608,242		-		608,242
	Disposals	-		-		-
	At 30 June 2025	1,050,000		11,773		1,061,773

	Depreciation
	At 1 July 2024	-		10,971		10,971
	Charge for the year	-		120		120
	On disposals	-		-		-
	At 30 June 2025	-		11,091		11,091

	Net book value
	At 30 June 2025	1,050,000		682		1,050,682
	At 30 June 2024	441,758		802		442,560


	Freehold land and buildings:			2025		2024
£					£
	Historical cost			441,758		-
	Cumulative depreciation based on historical cost			-		-
				441,758		-

	Included within fixed assets are investment properties which are measured at fair value. The investment properties has been revalued at £1,050,000 as at 30 June 2025 by the directors, based on their knowledge of the local property market and recent market activity.

5	Debtors			2025		2024
£					£

	Other debtors			79		76


6	Creditors: amounts falling due within one year			2025		2024
£					£

	Corporation tax			4,396		2,959
	Directors' loan account			232,907		251,983
	Other creditors			1,515		4,170
				238,818		259,112


7	Deferred Taxation			2025		2024
	The deferred tax included in the balance sheet is as follows:
£					£


	Included in Provisions			112,554		-

				112,554		-

	The deferred tax account consists of the tax effect of timing difference in respect of the fair value adjustment of investment property. The deferred tax provision has been calculated based on the effective tax rate at the year end.

8	Fair Value Reserve			2025		2024
£					£

	Gain on revaluation of land and buildings			608,242		-
	Deferred taxation arising on the revaluation of land and buildings			(112,554)		-

	At 30 June 2025			495,688		-



9	Off-balance sheet arrangements



10	Related party transactions



11	Other information

	Welford Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
	213 Albany Road
	Roath
	Cardiff
	CF24 3NU