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Registration number: 13021122

WLBP Digital Marketing Limited

Annual Report and Unaudited Financial Statements

for the Period from 15 November 2020 to 31 December 2021

 

WLBP Digital Marketing Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 8

 

WLBP Digital Marketing Limited

Company Information

Directors

Mr Peter John McKenna

Mrs Nicky McKenna

Registered office

45 Whellock Road
Chiswick
London
W4 1DY

Accountants

MG Group (Professional Services) Ltd
Chartered Accountant
166 College Road
Harrow
Middlesex
HA1 1BH

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
WLBP Digital Marketing Limited
for the Period Ended 31 December 2021

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of WLBP Digital Marketing Limited for the period ended 31 December 2021 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of WLBP Digital Marketing Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of WLBP Digital Marketing Limited and state those matters that we have agreed to state to the Board of Directors of WLBP Digital Marketing Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than WLBP Digital Marketing Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that WLBP Digital Marketing Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of WLBP Digital Marketing Limited. You consider that WLBP Digital Marketing Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of WLBP Digital Marketing Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

MG Group (Professional Services) Ltd
Chartered Accountant
166 College Road
Harrow
Middlesex
HA1 1BH

10 August 2022

 

WLBP Digital Marketing Limited

(Registration number: 13021122)
Balance Sheet as at 31 December 2021

Note

2021
£

Fixed assets

 

Intangible assets

4

35,840

Current assets

 

Debtors

5

5,310

Cash at bank and in hand

 

7,056

 

12,366

Creditors: Amounts falling due within one year

6

(47,987)

Net current liabilities

 

(35,621)

Net assets

 

219

Capital and reserves

 

Called up share capital

8

100

Retained earnings

119

Shareholders' funds

 

219

For the financial period ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 10 August 2022 and signed on its behalf by:
 

.........................................
Mr Peter John McKenna
Director

 

WLBP Digital Marketing Limited

Notes to the Unaudited Financial Statements for the Period from 15 November 2020 to 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
45 Whellock Road
Chiswick
London
W4 1DY

These financial statements were authorised for issue by the Board on 10 August 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

WLBP Digital Marketing Limited

Notes to the Unaudited Financial Statements for the Period from 15 November 2020 to 31 December 2021

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Franchise

20 % straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

WLBP Digital Marketing Limited

Notes to the Unaudited Financial Statements for the Period from 15 November 2020 to 31 December 2021

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

 

WLBP Digital Marketing Limited

Notes to the Unaudited Financial Statements for the Period from 15 November 2020 to 31 December 2021

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

Additions acquired separately

44,800

44,800

At 31 December 2021

44,800

44,800

Amortisation

Amortisation charge

8,960

8,960

At 31 December 2021

8,960

8,960

Carrying amount

At 31 December 2021

35,840

35,840

5

Debtors

Current

2021
£

Trade debtors

5,310

6

Creditors

Creditors: amounts falling due within one year

2021
£

Due within one year

Taxation and social security

9,084

Accruals and deferred income

1,500

Other creditors

37,403

47,987

7

Related party transactions

 

WLBP Digital Marketing Limited

Notes to the Unaudited Financial Statements for the Period from 15 November 2020 to 31 December 2021

During the year, the company made the following related party transactions:

Director
During the year, the director provided loans of £55,000 to company and company repaid £17,598. Interest was charged at an annual rate of 2.5%. At the balance sheet date, the amount due to the director was £37,402.

8

Share capital

Allotted, called up and fully paid shares

 

2021

 

No.

£

Ordinary of £1 each

100

100