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REGISTERED NUMBER: 07496541 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Wasp Construction Ltd

Wasp Construction Ltd (Registered number: 07496541)






Contents of the Financial Statements
for the year ended 31 March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Wasp Construction Ltd

Company Information
for the year ended 31 March 2023







DIRECTOR: M J Atherton





REGISTERED OFFICE: Unit 4
Kingfisher Court
Denton Drive
Northwich
Cheshire
CW9 7TT





REGISTERED NUMBER: 07496541 (England and Wales)





ACCOUNTANTS: Banks Sheridan
Datum House
Electra Way
Crewe
Cheshire
CW1 6ZF

Wasp Construction Ltd (Registered number: 07496541)

Statement of Financial Position
31 March 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 5 12,996 12,638
Cash at bank 424 570
13,420 13,208
CREDITORS
Amounts falling due within one year 6 (2,845 ) (2,806 )
NET CURRENT ASSETS 10,575 10,402
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,575

10,402

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 10,475 10,302
SHAREHOLDERS' FUNDS 10,575 10,402

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 August 2023 and were signed by:





M J Atherton - Director


Wasp Construction Ltd (Registered number: 07496541)

Notes to the Financial Statements
for the year ended 31 March 2023

1. STATUTORY INFORMATION

Wasp Construction Ltd ('The Company') is primarily engaged in renovation and refurbishment of industrial buildings. No trading activities took place during the year, however immediately after the year end a new contract was securred and the company is now once again active.

The company is a private company limited by shares and is incorporated in England and Wales. The address of the principal place of business and of the registered office is Unit 4, Kingfisher Court, Denton Drive, Northwich, Cheshire, England, CW9 7TT. The registered number can be found on the Company Information page.

The functional and presentational currency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest £.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Summary of significant accounting policies
The principle accounting policies applied in the preparation of these financial statements are set out below.

These policies have been consistently applied to all years presented, unless otherwise stated.

Basis of preparation
The financial statements are prepared on the going concern basis under the historical cost convention and comply with the United Kingdom Accounting Standards and Companies Act 2006.

Going concern
Having ceased trading activities in 2019, the company has commenced a new contract following the year end date.

No material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the director therefore he considers it appropriate to prepare the financial statements on the going concern basis.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the discounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income and Retained Earnings.


Wasp Construction Ltd (Registered number: 07496541)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 year end.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the year end.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Impairment of assets
Assets not measured at fair value are reviewed for any indications that the asset maybe impaired at each year end. If such indications exists the recoverable amount of the asset or the assets cash generating unit is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Any losses arising from impairment are recognised in the Statement of Comprehensive Income under the appropriate heading.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 12,996 12,638

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 40 -
Other creditors 2,805 2,806
2,845 2,806

7. RELATED PARTY DISCLOSURES

An amount of £12,996 is outstanding from a related party, Wasp Industrial Roofing Ltd and is included in other debtors. During the year interest was charged on the loan at 5%pa.