WMT Associates Ltd - Accounts to registrar (filleted) - small 23.2.5

WMT Associates Ltd - Accounts to registrar (filleted) - small 23.2.5

WMT ASSOCIATES LTD - Company Information

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REGISTERED NUMBER: 07011794 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 September 2023

for

WMT Associates Ltd
WMT Associates Ltd (Registered number: 07011794)






Contents of the Financial Statements
for the Year Ended 28 September 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


WMT Associates Ltd (Registered number: 07011794)

Balance Sheet
28 September 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Property, plant and equipment 4 2,648 -

Current assets
Debtors 5 363,037 16,963
Cash at bank 3,775 7,352
366,812 24,315
Creditors: amounts falling due within
one year
6
337,861
1,180
Net current assets 28,951 23,135
Total assets less current liabilities 31,599 23,135

Capital and reserves
Called up share capital 7 2 2
Retained earnings 31,597 23,133
Shareholders' funds 31,599 23,135

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 notes form part of these financial statements

Page 1 continued...
WMT Associates Ltd (Registered number: 07011794)

Balance Sheet - continued
28 September 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 March 2024 and were signed on its behalf by:





W M Tebbit - Director


The notes form part of these financial statements

Page 2
WMT Associates Ltd (Registered number: 07011794)

Notes to the Financial Statements
for the Year Ended 28 September 2023

1. Statutory information

WMT Associates Ltd 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: 07011794

Registered office: 85 Church Road
Hove
East Sussex
BN3 2BB

The presentation currency of the financial statements is in Pound Sterling (£) and rounding is to the nearest (£).

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of VAT and discounts.

When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Property, plant and equipment
Property, plant and equipment are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 20% straight line
Computer Equipment - 20% Reducing balance

Page 3 continued...
WMT Associates Ltd (Registered number: 07011794)

Notes to the Financial Statements - continued
for the Year Ended 28 September 2023

2. Accounting policies - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 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.

3. Employees and directors

The average number of employees during the year was NIL (2022 - NIL).

Page 4 continued...
WMT Associates Ltd (Registered number: 07011794)

Notes to the Financial Statements - continued
for the Year Ended 28 September 2023

4. Property, plant and equipment
Plant and Computer
machinery equipment Totals
£    £    £   
Cost
At 29 September 2022 5,455 - 5,455
Additions - 2,837 2,837
At 28 September 2023 5,455 2,837 8,292
Depreciation
At 29 September 2022 5,455 - 5,455
Charge for year - 189 189
At 28 September 2023 5,455 189 5,644
Net book value
At 28 September 2023 - 2,648 2,648
At 28 September 2022 - - -

5. Debtors: amounts falling due within one year
2023 2022
£    £   
Other debtors 363,037 16,963

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Taxation and social security 1,556 -
Other creditors 336,305 1,180
337,861 1,180

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2

Page 5 continued...
WMT Associates Ltd (Registered number: 07011794)

Notes to the Financial Statements - continued
for the Year Ended 28 September 2023

8. Directors' advances, credits and guarantees

During the year, the company advanced a director £nil (2022: £11,690) and he repaid £11,690 (2022 £nil) At the year end, the director owed the company £nil (2022 £11,690). The advances were interest-free, unsecured and repayable on demand.

9. Related party disclosures

At the year end, the company owed the directors £335,010 (2022: £nil).

Page 6