Wearthde Limited,Ltd - AccountsLtd - Accounts

Wearthde Limited,Ltd - AccountsLtd - Accounts

WEARTHDE LIMITED - Company Information

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2020-05-01 11659195 2021-04-30 11659195 2020-05-01 2021-04-30 11659195 2020-04-30 11659195 2019-05-01 2020-04-30 11659195 uk-core:WithinOneYear 2020-04-30 11659195 uk-core:WithinOneYear 2021-04-30 11659195 uk-core:AfterOneYear 2020-04-30 11659195 uk-core:AfterOneYear 2021-04-30 11659195 uk-core:ShareCapital 2021-04-30 11659195 uk-core:ShareCapital 2020-04-30 11659195 uk-core:SharePremium 2021-04-30 11659195 uk-core:SharePremium 2020-04-30 11659195 uk-core:RetainedEarningsAccumulatedLosses 2021-04-30 11659195 uk-core:RetainedEarningsAccumulatedLosses 2020-04-30 11659195 uk-bus:Director1 2020-05-01 2021-04-30 11659195 uk-core:FurnitureFittings 2020-05-01 2021-04-30 11659195 uk-core:Buildings 2020-05-01 2021-04-30 11659195 uk-core:Buildings 2021-04-30 11659195 uk-core:FurnitureFittings 2021-04-30 iso4217:GBP xbrli:pure 11659195 uk-bus:AuditExemptWithAccountantsReport 2020-05-01 2021-04-30 11659195 uk-bus:FRS102 2020-05-01 2021-04-30 11659195 uk-bus:FullAccounts 2020-05-01 2021-04-30 11659195 uk-bus:PrivateLimitedCompanyLtd 2020-05-01 2021-04-30
Wearthde Limited
Registered Number:11659195
For the year ended 30 April 2021
England and Wales
Unaudited Financial Statements
2
For the year ended 30 April 2021
Wearthde Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
Registered Number :
11659195
As at 30 April 2021
Wearthde Limited
Statement of Financial Position
£
£
2020
2021
Notes
Fixed assets
Property, plant and equipment
9,170,194
-
2
9,170,194
-
Current assets
Trade and other receivables
-
3,748
3
1,951
Cash and cash equivalents
640,566
644,314
1,951
Trade and other payables: amounts falling due within one
year
(1,950)
(3,972,302)
4
1
(3,327,988)
Net current liabilities
Total assets less current liabilities
5,842,206
1
Trade and other payables: amounts falling due after more
than one year
-
(3,337,127)
5
(500)
-
Provisions for liabilities
2,504,579
Net assets
1
Capital and reserves
Called up share capital
102
1
Share premium account
2,416,900
-
Retained earnings
87,577
-
2,504,579
1
Shareholders' funds
For the year ended 30 April 2021 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2021 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr A Taub Director
These financial statements were approved and authorised for issue by the Board on 16 November 2021 and were signed by:
1 of 5
4
Registered Number :
11659195
For the year ended 30 April 2021
Wearthde Limited
Statement of Financial Position Continued
The notes form part of these financial statements
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5
For the year ended 30 April 2021
Wearthde Limited
Notes to the Financial Statements
Statutory Information
Wearthde Limited is a private limited company, limited by shares, domiciled in England and Wales, registration
number 11659195.
Registered address:
1 Eastern Road
London
N2 9LD
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention.
Revenue recognition
Turnover represents rents receivable.
Property, plant and equipment
Property, plant and equipment, 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:
Equipment & Furniture
15% Reducing balance
No depreciation is provided on the company's investment properties. In the opinion of the directors, the expected
useful lives are sufficiently long and the estimated residual values are sufficiently high, that any such depreciation
would be immaterial. The directors undertake an annual impairment review of these properties.
Investment property
Investment properties are shown at most recent valuation, on which their acquisition cost during the year was based.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
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6
For the year ended 30 April 2021
Wearthde Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Equipment &
Furniture
Land and
Buildings
£
£
£
Cost or
valuation
10,000,968
3,094
9,997,874
Additions
-
(830,310)
Disposals
(830,310)
At 30 April 2021
9,167,564
3,094
9,170,658
Provision for depreciation and impairment
Charge for year
464
464
-
At 30 April 2021
464
464
-
At 30 April 2021
Net book value
9,167,564
2,630
9,170,194
3. Trade and other receivables
2020
2021
£
£
Other debtors
3,748
-
4. Trade and other payables: amounts falling due within one year
2020
2021
£
£
Taxation and social security
20,223
-
Other creditors
3,952,079
1,950
3,972,302
1,950
5. Trade and other payables: amounts falling due after more than one year
2020
2021
£
£
Bank loans and overdraft (secured)
3,337,127
-
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7
For the year ended 30 April 2021
Wearthde Limited
Notes to the Financial Statements Continued
6. Related party transactions
On 30 October 2020, 10,000 A Ordinary Shares of £0.01 each were issued and allotted at 241.7p per share, in
consideration for the transfer of a property rental business partnership, from the directors to the company. Each of
the two directors holds 5,000 such shares.
On 1 February 2021, 100 B Ordinary Shares of £0.01 each were issued and allotted at par to the directors, and
which are held jointly by them.
The company is controlled by its two directors, who are husband and wife, and who between them own the entire
share capital of the company.
Creditors include £3,942,067 (2020 - £1,950) due to the directors. There are no fixed terms as to interest or
repayment.
7. Average number of persons employed
During the year the average number of employees was 2
5 of 5