Wrangu UK Limited - Accounts to registrar (filleted) - small 18.2

Wrangu UK Limited - Accounts to registrar (filleted) - small 18.2

WRANGU UK LIMITED - Company Information

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REGISTERED NUMBER: 09973596 (England and Wales)

















Unaudited Financial Statements

for the Year Ended 31 December 2020

for

Wrangu Uk Limited
Wrangu Uk Limited (Registered number: 09973596)






Contents of the Financial Statements
for the Year Ended 31 December 2020




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Wrangu Uk Limited

Company Information
for the Year Ended 31 December 2020







DIRECTORS: Mr A O Adesanya
Mr S Ullah
Mr K Namburi





REGISTERED OFFICE: 6 Bevis Marks
London
EC3A 7BA





REGISTERED NUMBER: 09973596 (England and Wales)





ACCOUNTANTS: Sterling Partners Limited
Chartered Accountants
Chartered Tax Advisors
2nd Floor, Grove House
774-780 Wilmslow Road
Didsbury
Manchester
Greater Manchester
M20 2DR
Page 1
Wrangu Uk Limited (Registered number: 09973596)

Balance Sheet
31 December 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,375 19,462

CURRENT ASSETS
Debtors 5 165,391 142,065
Cash at bank 16,264 47,390
181,655 189,455
CREDITORS
Amounts falling due within one year 6 633,018 696,163
NET CURRENT LIABILITIES (451,363 ) (506,708 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
(440,988
)
(487,246
)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (441,088 ) (487,346 )
(440,988 ) (487,246 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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 23 July 2021 and were signed on its behalf by:





Mr S Ullah - Director


The notes form part of these financial statements

Page 2
Wrangu Uk Limited (Registered number: 09973596)

Notes to the Financial Statements
for the Year Ended 31 December 2020

1. STATUTORY INFORMATION

Wrangu Uk 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.

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.

At 31st December 2020, the company had net current liabilities of £451,363 (2019: £506,708) and total net liabilities of £440,988 (2019: £487,246). The company relies on the loan funding provided by its investors. The director is of the opinion that it is appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of support by its investors.

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.
Computer equipment - 33% on cost

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2019 - 17 ) .

Page 3 continued...
Wrangu Uk Limited (Registered number: 09973596)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2020

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2020 36,281
Additions 4,306
At 31 December 2020 40,587
DEPRECIATION
At 1 January 2020 16,819
Charge for year 13,393
At 31 December 2020 30,212
NET BOOK VALUE
At 31 December 2020 10,375
At 31 December 2019 19,462

5. DEBTORS
2020 2019
£    £   
Amounts falling due within one year:
Trade debtors 91,895 55,110
Other debtors 5,936 -
Prepayments 51,960 72,555
149,791 127,665

Amounts falling due after more than one year:
Security Deposits 15,600 14,400

Aggregate amounts 165,391 142,065

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Trade creditors 67,915 111,578
Social security and other taxes 33,916 51,303
Healthcare liability - 1,008
VAT 15,672 9,777
Other creditors 298,666 248,486
Pension Payable 3,279 4,460
Deferred income 213,229 248,484
Accrued expenses 341 21,067
633,018 696,163

7. OTHER FINANCIAL COMMITMENTS

Wrangu UK Limited has total future financial commitments in the form of rents totalling £39,000 (2019: £36,000)

Page 4 continued...
Wrangu Uk Limited (Registered number: 09973596)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2020

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2020 and 31 December 2019:

2020 2019
£    £   
Mr N R Rudrawar
Balance outstanding at start of year - 439
Amounts repaid - (439 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

9. RELATED PARTY DISCLOSURES

GSA Systems Limited

A Company in which Mr A.O. Adesanya is a director.


During the year GSA Systems Limited provided Wrangu UK Limited with consulting services amounting to £127,500 during the financial year (2019: £106,250).

Gizmatix Limited

A company in which Mr S Ullah is a director.


During the year Gizmatrix Limited provided Wrangu UK Limited with consulting services amounting to £127,500 during the financial year (2019: £106,250).

Ritwik Solutions Limited

A Company in which Mr Namburi is a director.


During the year Ritwik Solutions Limited provided Wrangu UK Limited with consulting services amounting to £127,500 during the financial year (2019: £43,050).

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