8th Wonder Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08499164 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

8TH WONDER PROPERTIES LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Investment property

4

125,000

125,000

CURRENT ASSETS

Debtors

5

85,818

92,768

Cash at bank

311

2,437

86,129

95,205

CREDITORS

Amounts falling due within one year

6

2,730

4,212

NET CURRENT ASSETS

83,399

90,993

TOTAL ASSETS LESS CURRENT LIABILITIES

208,399

215,993

PROVISIONS FOR LIABILITIES

7

13,299

13,299

NET ASSETS

195,100

202,694

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

8

74,306

74,306

Retained earnings

120,694

128,288

195,100

202,694

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 director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 September 2021 and were signed by:

Mr G M Tyrer - Director

1.	STATUTORY INFORMATION

8th Wonder Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

08499164

Registered office:

Unit E Sovereign Business Park,

Kingscroft Court

Wigan

WN1 3AP

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value.

Going concern

The director has reviewed the company's forecasts and projections and, in particular, has considered the potential implications of the Coronavirus (COVID-19) pandemic. Whilst the eventual financial impact of the pandemic on the company, and on the overall economy, remains uncertain, the director is confident that it will continue to have a minimal impact on the company and that it will remain operational throughout the pandemic.

The company therefore continues to adopt the going concern basis in preparing its financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Investment property

Investment property for which fair value can be measured reliably is measured at fair value at each reporting date with changes in fair value recognised in the income statement.

Taxation

Taxation for the year 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 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.

Trade and other debtors

Trade and other debtors are initially recognised at the transaction price and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at the transaction price and are thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

3.	EMPLOYEES AND DIRECTORS

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

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2020

and 31 December 2020

125,000

NET BOOK VALUE

At 31 December 2020

125,000

At 31 December 2019

125,000

Fair value at 31 December 2020 is represented by:

£

Valuation in 2014

74,306

Cost

50,694

125,000

The director is satisfied that there has been no material change to the fair value of investment property during the year.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Amounts owed by group undertakings

85,398

92,348

Other debtors

420

420

85,818

92,768

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade creditors

1,980

2,062

Other creditors

750

2,150

2,730

4,212

7.	PROVISIONS FOR LIABILITIES

31.12.20

31.12.19

£

£

Deferred tax

13,299

13,299

Deferred

tax

£

Balance at 1 January 2020

13,299

Balance at 31 December 2020

13,299

8.

RESERVES

Fair

value

reserve

£

At 1 January 2020

and 31 December 2020

74,306

9.	ULTIMATE CONTROLLING PARTY

The ultimate parent company is 8th Wonder Holdings Limited.