Wagjiani Holdings Ltd - Accounts

Wagjiani Holdings Ltd - Accounts

WAGJIANI HOLDINGS LTD - Company Information

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Registered Number: 11671196
England and Wales

 

 

 

WAGJIANI HOLDINGS LTD


Abridged Accounts
 


Period of accounts

Start date: 01 December 2019

End date: 30 November 2020

Wagjiani Holdings Ltd
Contents Page
For the year ended 30 November 2020
Report to the directors on the preparation of the unaudited statutory accounts of Wagjiani Holdings Ltd for the year ended 30 November 2020
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Wagjiani Holdings Ltd for the year ended 30 November 2020 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of Wagjiani Holdings Ltd, as a body, in accordance with the terms of our engagement letter dated 24 August 2021 Our work has been undertaken solely to prepare for your approval the accounts of Wagjiani Holdings Ltd and state those matters that we have agreed to state to the Board of Directors of Wagjiani Holdings Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Wagjiani Holdings Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Wagjiani Holdings Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Wagjiani Holdings Ltd. You consider that Wagjiani Holdings Ltd is exempt from the statutory audit requirement for the year
We have not been instructed to carry out an audit or a review of the accounts of Wagjiani Holdings Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
30 November 2020



....................................................
Varia Associates
7 Highfield Crescent
Northwood Middlesex
HA6 1EZ
24 August 2021
1
 
 		 Notes
 		 2020
£		   2019
£
Fixed assets      
Tangible fixed assets 992,955    880,810 
992,955    880,810 
Current assets      
Debtors 13,289    0 
Cash at bank and in hand 78,512    124,031 
91,801    124,031 
Creditors: amount falling due within one year (1,013,757)   (1,033,540)
Net current liabilities (921,956)   (909,509)
 
Total assets less current liabilities 70,999    (28,699)
Creditors: amount falling due after more than one year (86,853)   0 
Net liabilities (15,854)   (28,699)
 

Capital and reserves 		     
Called up share capital 3 100    100 
Profit and loss account (15,954)   (28,799)
Shareholders funds (15,854)   (28,699)
 


For the year ended 30 November 2020 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 24 August 2021 and were signed on its behalf by:


--------------------------------
Dhirendra Wagjiani
Director		--------------------------------
Bhavesh Wagjiani
Director
2
General Information
Wagjiani Holdings Ltd is a private company, limited by shares, registered in England and Wales, registration number 11671196, registration address 7 Highfield Crescent, Northwood, , HA6 1EZ

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 15% Reducing Balance
Land and Buildings 0% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
2.

Average number of employees

Average number of employees during the year was 2 (2019 : 0).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Land and Buildings   Total
  £   £   £
At 01 December 2019 1,094    879,880    880,974 
Additions 13,488    100,820    114,308 
Disposals -    -    - 
At 30 November 2020 14,582    980,700    995,282 
Depreciation
At 01 December 2019 164    -    164 
Charge for year 2,163    -    2,163 
On disposals -    -    - 
At 30 November 2020 2,327    -    2,327 
Net book values
Closing balance as at 30 November 2020 12,255    980,700    992,955 
Opening balance as at 01 December 2019 930    879,880    880,810 

The net book value of Land and Buildings includes £980,700(2019 £879,880) in respect of assets leased under finance leases or hire purchase contracts.

4.

Share Capital

Allotted, called up and fully paid
2020
£		   2019
£
100 Class A shares of £1.00 each 100    100 
100    100 

3