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WEARTHDE LIMITED - Company Information

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Wearthde Limited

Registered Number:11659195

For the year ended 30 April 2023

England and Wales

Unaudited Financial Statements

For the year ended 30 April 2023

Wearthde Limited

Contents Page

Statement of Financial Position

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Notes to the Financial Statements

Registered Number :

11659195

As at 30 April 2023

Wearthde Limited

Statement of Financial Position

2022

2023

Notes

Fixed assets

Property, plant and equipment

10,254,064

9,848,268

10,254,064

9,848,268

Current assets

Trade and other receivables

217,283

Cash and cash equivalents

35,742

35,764

217,283

Trade and other payables: amounts falling due within one

year

(4,459,002)

(5,013,467)

(4,241,719)

(4,977,703)

Net current liabilities

Total assets less current liabilities

5,276,361

5,606,549

Trade and other payables: amounts falling due after more

than one year

(3,037,127)

(2,582,749)

(15,031)

(1,986)

Provisions for liabilities

2,678,581

Net assets

2,567,436

Capital and reserves

Called up share capital

102

Share premium account

2,416,900

Retained earnings

261,579

150,434

2,678,581

2,567,436

Shareholders' funds

For the year ended 30 April 2023 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 2023 in accordance with Section 476 of the Companies Act 2006

The director acknowledges his 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 11 January 2024 and were signed by:

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Registered Number :

11659195

For the year ended 30 April 2023

Wearthde Limited

Statement of Financial Position Continued

The notes form part of these financial statements

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For the year ended 30 April 2023

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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For the year ended 30 April 2023

Wearthde Limited

Notes to the Financial Statements Continued

2. Property, plant and equipment

Total

Equipment &

Furniture

Land and

Buildings

Cost or

valuation

At 01 May 2022

9,850,576

12,760

9,837,816

419,756

82,617

337,139

Additions

At 30 April 2023

10,174,955

95,377

10,270,332

Provision for depreciation and impairment

At 01 May 2022

2,308

Charge for year

13,960

At 30 April 2023

16,268

At 30 April 2023

Net book value

10,174,955

79,109

10,254,064

At 30 April 2022

9,837,816

10,452

9,848,268

3. Trade and other payables: amounts falling due within one year

2022

2023

Taxation and social security

13,026

13,542

Other creditors

5,000,441

4,445,460

5,013,467

4,459,002

4. Trade and other payables: amounts falling due after more than one year

2022

2023

Bank loans and overdraft (secured)

2,582,749

3,037,127

5. Related party transactions

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 £4,972,260 (2022 - £4,430,739) due to the directors. There are no fixed terms as to interest or

repayment.

6. Average number of persons employed

During the year the average number of employees was 2 (2022 : 2)

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