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Registration number: 13485062

WNF Property Services Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 30 June 2023

 

WNF Property Services Limited

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Abridged Balance Sheet

4 to 5

Notes to the Unaudited Abridged Financial Statements

6 to 9

 

WNF Property Services Limited

Company Information

Directors

Mr Kin Bong David Wong

Mr Luke Foers

Registered office

52 Park Road
Askern
Doncaster
DN6 0BA

Accountants

SDN Accountancy Limited
52 Park Road
Askern
Doncaster
DN6 0BA

 

WNF Property Services Limited

Directors' Report for the Year Ended 30 June 2023

The directors present their report and the abridged financial statements for the year ended 30 June 2023.

Directors of the company

The directors who held office during the year were as follows:

Mr Kin Bong David Wong

Mr Luke Foers

Principal activity

The principal activity of the company is Property maintenance

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 1 November 2023 and signed on its behalf by:
 

.........................................
Mr Kin Bong David Wong
Director

 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
WNF Property Services Limited
for the Year Ended 30 June 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of WNF Property Services Limited for the year ended 30 June 2023 as set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Accounting Technicians we are subject to its ethical and other professional requirements.

This report is made solely to the Board of Directors of WNF Property Services 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 WNF Property Services Limited and state those matters that we have agreed to state to the Board of Directors of WNF Property Services Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than WNF Property Services Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that WNF Property Services 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 loss of WNF Property Services Limited. You consider that WNF Property Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of WNF Property Services 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.

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

SDN Accountancy Limited
52 Park Road
Askern
Doncaster
DN6 0BA

1 November 2023

 

WNF Property Services Limited

(Registration number: 13485062)
Abridged Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

16,411

11,896

Current assets

 

Debtors

42,293

67,336

Cash at bank and in hand

 

15,826

42,792

 

58,119

110,128

Prepayments and accrued income

 

916

1,145

Creditors: Amounts falling due within one year

(38,745)

(33,232)

Net current assets

 

20,290

78,041

Total assets less current liabilities

 

36,701

89,937

Provisions for liabilities

(3,118)

(2,260)

Accruals and deferred income

 

(24,030)

(51,073)

Net assets

 

9,553

36,604

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

9,453

36,504

Shareholders' funds

 

9,553

36,604

For the financial year ending 30 June 2023 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.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 1 November 2023 and signed on its behalf by:
 

 

WNF Property Services Limited

(Registration number: 13485062)
Abridged Balance Sheet as at 30 June 2023

.........................................
Mr Kin Bong David Wong
Director

 

WNF Property Services Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

1

General information

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

The address of its registered office is:
52 Park Road
Askern
Doncaster
DN6 0BA

The principal place of business is:
259 Cemetery Road
Wath Upon Dearne
Rotherham
S63 6LJ

These financial statements were authorised for issue by the Board on 1 November 2023.

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 abridged 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 abridged 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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

 

WNF Property Services Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

Tax

The tax expense for the period comprises current and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

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.

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

Motor vehicles

20% on cost

Office equipment

33% on cost

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.

 

WNF Property Services Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

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 year, was 3 (2022 - 2).

4

Loss/profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

4,984

3,085

 

WNF Property Services Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

5

Tangible assets

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2022

680

14,300

14,980

Additions

-

9,500

9,500

At 30 June 2023

680

23,800

24,480

Depreciation

At 1 July 2022

224

2,860

3,084

Charge for the year

225

4,760

4,985

At 30 June 2023

449

7,620

8,069

Carrying amount

At 30 June 2023

231

16,180

16,411

At 30 June 2022

456

11,440

11,896

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100