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Registration number: 12420468

WNTD Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2021

 

WNTD Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

WNTD Limited

Company Information

Directors

Karl Chatterjee

Blaine Jake Daws

Registered office

80-82 Long Lane
London
EC1A 9ET

Accountants

Carbon Accountancy Limited
80-83 Long Lane
London
EC1A 9ET

 

WNTD Limited

(Registration number: 12420468)
Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

16,295

11,049

Current assets

 

Debtors

5

150,384

357,457

Cash at bank and in hand

 

341,270

79,830

 

491,654

437,287

Creditors: Amounts falling due within one year

6

(364,441)

(425,904)

Net current assets

 

127,213

11,383

Net assets

 

143,508

22,432

Capital and reserves

 

Called up share capital

7

100

2

Profit and loss account

143,408

22,430

Shareholders' funds

 

143,508

22,432

For the financial year 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 year 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.

 

WNTD Limited

(Registration number: 12420468)
Balance Sheet as at 31 December 2021

Approved and authorised by the Board on 12 May 2022 and signed on its behalf by:
 

.........................................
Karl Chatterjee
Director

.........................................
Blaine Jake Daws
Director

 

WNTD Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

1

General information

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

The address of its registered office is:
80-82 Long Lane
London
EC1A 9ET

These financial statements were authorised for issue by the Board on 12 May 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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

WNTD Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixture and fittings

Over 5 years

Office equipment

Over 4 years

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2020 - 5).

 

WNTD Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2021

14,495

14,495

Additions

10,864

10,864

At 31 December 2021

25,359

25,359

Depreciation

At 1 January 2021

3,446

3,446

Charge for the year

5,618

5,618

At 31 December 2021

9,064

9,064

Carrying amount

At 31 December 2021

16,295

16,295

At 31 December 2020

11,049

11,049

5

Debtors

2021
£

2020
£

Trade debtors

-

227,730

Prepayments

478

4,221

Other debtors

149,906

125,506

150,384

357,457

6

Creditors

Creditors: amounts falling due within one year

2021
£

2020
£

Due within one year

Trade creditors

84,388

7,360

Taxation and social security

111,153

41,768

Accruals and deferred income

18,950

99,689

Other creditors

149,950

277,087

364,441

425,904

 

WNTD Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

7

Share capital

Allotted, called up and fully paid shares

 

2021

2020

 

No.

£

No.

£

Ordinary of £0 (2020 - £1) each

-

-

2

2

A Ordinary of £1 (2020 - £0) each

80

80

-

-

B Ordinary of £1 (2020 - £0) each

10

10

-

-

C Ordinary of £1 (2020 - £0) each

10

10

-

-

 

100

100

2

2