WM Designs Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11544003 (England and Wales)

Unaudited Financial Statements

for the Period 1 April 2022 to 30 June 2022

for

WM Designs Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R Cale

Ms S Gaunt

REGISTERED OFFICE:

Unit 2 Creedy Vale

Down End

Lords Meadow Industrial Estate

Crediton

Devon

EX17 1HN

REGISTERED NUMBER:

11544003 (England and Wales)

ACCOUNTANTS:

R T Marke & Co Ltd

Chartered Accountants

69 High Street

Bideford

Devon

EX39 2AT

CURRENT ASSETS

Stocks

-

300

Debtors

12

2,397

Cash at bank

7,116

8,405

7,128

11,102

CREDITORS

Amounts falling due within one year

21,612

23,751

NET CURRENT LIABILITIES

(14,484

)

(12,649

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(14,484

)

(12,649

)

CAPITAL AND RESERVES

Called up share capital

6

100

100

Retained earnings

(14,584

)

(12,749

)

SHAREHOLDERS' FUNDS

(14,484

)

(12,649

)

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

The members have not required the company to obtain an audit of its financial statements for the period 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.

All the members have consented to the preparation of an abridged Balance Sheet for the period ended 30 June 2022 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 December 2022 and were signed on its behalf by:

Mr R Cale - Director

Ms S Gaunt - Director

1.	STATUTORY INFORMATION

WM Designs Ltd 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 presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The company ceased trading at the balance sheet date. The financial statements have not, therefore, been prepared on a going concern basis. Accordingly, full provision has been made in these accounts for all known liabilities and anticipated losses on realisation of assets. This is in accordance with the provisions of FRS 102 Section 1A small entities and the Companies Act 2006.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Fixtures and fittings

-

Straight line over 1 years

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Basic financial instruments with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 period 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2022 - NIL).

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2022

160

Disposals

(160

)

At 30 June 2022

-

DEPRECIATION

At 1 April 2022

160

Eliminated on disposal

(160

)

At 30 June 2022

-

NET BOOK VALUE

At 30 June 2022

-

At 31 March 2022

-

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2022

value:

£

£

100

Ordinary

£1

100

100

7.	GOING CONCERN

The company ceased trading on 30 June 2022. Consequently all assets and liabilities have been written down to their realisable values.

8.	CORRESPONDING AMOUNTS

These financial statements cover the period 1 April 2022 to 30 June 2022. The comparative figures cover the year ended 31 March 2022. Accordingly, the corresponding amounts may not be comparable as required by the provisions of FRS 102 Section 1A small entities.