WDA CO. LTD - Filleted accounts

WDA CO. LTD - Filleted accounts

WDA CO. LTD - Company Information

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Registered number
12960434
WDA CO. LTD
Unaudited Filleted Accounts
31 October 2022
WDA CO. LTD
Registered number: 12960434
Balance Sheet
as at 31 October 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 91 -
Investment property 4 636,850 391,374
636,941 391,374
Current assets
Debtors 5 2,993 1,817
Cash at bank and in hand 4,351 1,006
7,344 2,823
Creditors: amounts falling due within one year 6 (635,188) (398,796)
Net current liabilities (627,844) (395,973)
Total assets less current liabilities 9,097 (4,599)
Provisions for liabilities (2,040) -
Net assets/(liabilities) 7,057 (4,599)
Capital and reserves
Called up share capital 100 100
Profit and loss account 6,957 (4,699)
Shareholders' funds 7,057 (4,599)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Wai Yee Rose Leung
Director
Approved by the board on 22 June 2023
WDA CO. LTD
Notes to the Accounts
for the year ended 31 October 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents rents receivable.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office equipment over 5 years
Investment properties
Investments property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Motor vehicles Plant and machinery etc Total
£ £ £ £
Cost
At 1 November 2021 - - - -
Additions - - 104 104
At 31 October 2022 - - 104 104
Depreciation
At 1 November 2021 - - - -
Charge for the year - - 13 13
At 31 October 2022 - - 13 13
Net book value
At 31 October 2021 - - -
At 31 October 2022 - - 91 91
4 Investment property
undertakings investments Total
£ £ £
Fair value
At 1 November 2021 - 391,374 391,374
Additions - 227,850 227,850
Revaluation - 17,626 17,626
At 31 October 2022 - 636,850 636,850
Historical cost
At 31 October 2021 - 391,374
At 31 October 2022 - 619,224
Investment properties are carried at fair value, determined by the directors with reference to the condition and location of the property, as well as current observable market prices. There has been no valuation of investment property by an independent valuer.
5 Debtors 2022 2021
£ £
Trade debtors - 1,334
Other debtors 2,993 483
2,993 1,817
6 Creditors: amounts falling due within one year 2022 2021
£ £
Other creditors 635,188 398,796
7 Profit and loss account Non-distributable Distributable
reserves reserves Total
£ £ £
At 1 November 2021 - (4,699) (4,699)
Profit/(loss) for the year 15,586 (3,930) 11,656
At 31 October 2022 15,586 (8,629) 6,957
8 Related party transactions
During the year the directors' made further loans to the company. At the year end the balance owed to directors amounted to £627,909. These loans are unsecured, bear no interest and have no fixed repayment term.
Unless otherwise stated, all transactions with related parties are conducted under normal market conditions.
9 Other information
WDA CO. LTD is a private company limited by shares and incorporated in England. Its registered office is:
26 Ilchester Crescent
Bristol
BS13 7HL
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