Wimpole Capital Limited 30/11/2022 iXBRL

Wimpole Capital Limited 30/11/2022 iXBRL

WIMPOLE CAPITAL LIMITED - Company Information

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Company registration number: 08793575
Wimpole Capital Limited
Unaudited filleted financial statements
30 November 2022
Wimpole Capital Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Wimpole Capital Limited
Directors and other information
Director Mr Mark Smith
Company number 08793575
Registered office 3 Hampstead West
London
NW6 2HX
Accountants Redford & Co Limited
Chartered Accountants
First Floor
64 Baker Street
London
W1U 7GB
Wimpole Capital Limited
Statement of financial position
30 November 2022
2022 2021
Note £ £ £ £
Current assets
Stocks - 867,332
Debtors 5 935 395
Cash at bank and in hand 151 4,276
_______ _______
1,086 872,003
Creditors: amounts falling due
within one year 6 ( 25,850) ( 275,054)
_______ _______
Net current (liabilities)/assets ( 24,764) 596,949
_______ _______
Total assets less current liabilities ( 24,764) 596,949
Creditors: amounts falling due
after more than one year 7 - ( 619,185)
_______ _______
Net liabilities ( 24,764) ( 22,236)
_______ _______
Capital and reserves
Called up share capital 1,000 100
Profit and loss account ( 25,764) ( 22,336)
_______ _______
Shareholders deficit ( 24,764) ( 22,236)
_______ _______
For the year ending 30 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 30 August 2023 , and are signed on behalf of the board by:
Mr Mark Smith
Director
Company registration number: 08793575
Wimpole Capital Limited
Notes to the financial statements
Year ended 30 November 2022
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 3 Hampstead West, London, NW6 2HX.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on a going concern basis. The directors have a reasonable expectation that the company will be able to meet known liabilities as they fall due and will have adequate resources to continue in operational existence for the foreseeable future.
Turnover
Turnover represents the value of services provided under contracts, to the extent that there is a right to consideration, and is recorded at the value of the consideration due.Where a contract has only been partially completed at the balance sheet date, turnover represents the value of the service provided to date, based on a proportion of the total expected consideration at completion.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2021: 1 ).
5. Debtors
2022 2021
£ £
Other debtors 935 395
_______ _______
6. Creditors: amounts falling due within one year
2022 2021
£ £
Bank loans and overdrafts - 65,938
Trade creditors 500 -
Amounts owed to group undertakings and undertakings in which the company has a participating interest 23,285 206,851
Other creditors 2,065 2,265
_______ _______
25,850 275,054
_______ _______
7. Creditors: amounts falling due after more than one year
2022 2021
£ £
Bank loans and overdrafts - 615,002
Other creditors - 4,183
_______ _______
- 619,185
_______ _______
Loans advanced to the company are secured against the property owned by the company.