Walmer Place Estate Company Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 02166501 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

FOR

WALMER PLACE ESTATE COMPANY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

6

DIRECTORS:

Mrs A F Soper

Dr G Williams

Mrs K Blackburn

Mrs M H Cameron

P V Cleary

Ms M Borland

Mrs C S Holt

Ms R I Offerman Moffat

Ms H Rodo

J Ryan

R D Gifford

C Thomas

SECRETARY:

REGISTERED OFFICE:

45 Queen Street

Deal

Kent

CT14 6EY

REGISTERED NUMBER:

02166501 (England and Wales)

ACCOUNTANTS:

Higson & Co (Deal) Ltd

45 Queen Street

Deal

Kent

CT14 6EY

FIXED ASSETS

Tangible assets

4

16,140

16,140

CURRENT ASSETS

Debtors

5

85

55

Cash at bank and in hand

9,956

6,031

10,041

6,086

CREDITORS

Amounts falling due within one year

6

11,846

7,674

NET CURRENT LIABILITIES

(1,805

)

(1,588

)

TOTAL ASSETS LESS CURRENT LIABILITIES

14,335

14,552

CAPITAL AND RESERVES

Called up share capital

126

126

Share premium

24,231

24,231

Retained earnings

(10,022

)

(9,805

)

SHAREHOLDERS' FUNDS

14,335

14,552

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2022 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 9 December 2022 and were signed on its behalf by:

J Ryan - Director

Ms H Rodo - Director

1.	STATUTORY INFORMATION

Walmer Place Estate 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 financial statements are presented in round pounds £ 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.

Turnover

Turnover represents ground rent receivable.

Tangible fixed assets

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

Land and buildings

-

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.

Freehold investment property

The company holds the reversionary interest in the property that comprises Walmer Place, Walmer, Deal, Kent together with the buildings erected thereon. The reversionary interest in the freehold has not been depreciated in the accounts in accordance with the Companies Act 2006, for the overriding purpose of giving a true and fair view, as in the opinion of the Directors, the reversionary interest has not suffered any impairment in value. If the interest was to be depreciated over 50 years, in common with other freehold property, a depreciation charge of £323 per annum would be charged to the profit and loss account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST

At 1 July 2021

and 30 June 2022

16,140

NET BOOK VALUE

At 30 June 2022

16,140

At 30 June 2021

16,140

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

85

55

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Accrued expenses

11,846

7,674

7.	INVESTMENT

The Company owned 225 HBOS Ordinary shares which were received free of charge when the building society was floated on the stock exchange. This was converted into 142 shares in Lloyds Banking Group plc when the banks merged. The market value of this shareholding at 30 June 2022 was £60 (2021 - £66).

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 June 2022 set out on pages one to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Higson & Co (Deal) Ltd

45 Queen Street

Deal

Kent

CT14 6EY

9 December 2022