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REGISTERED NUMBER: 13298551 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH APRIL 2023

FOR

WASSERMAN & WRIGHT LTD

WASSERMAN & WRIGHT LTD (REGISTERED NUMBER: 13298551)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WASSERMAN & WRIGHT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH APRIL 2023







DIRECTOR: Mrs R Z Wright





REGISTERED OFFICE: 17 Moor Park Avenue
Preston
Lancashire
PR1 6AS





REGISTERED NUMBER: 13298551 (England and Wales)





ACCOUNTANTS: SBCA Chartered Accountants
17 Moor Park Avenue
Preston
Lancashire
PR1 6AS

WASSERMAN & WRIGHT LTD (REGISTERED NUMBER: 13298551)

BALANCE SHEET
30TH APRIL 2023

30.4.23 30.4.22
Notes £    £   
FIXED ASSETS
Investment property 4 300,000 284,407

CURRENT ASSETS
Debtors 5 100 2,320
Cash at bank 162 12
262 2,332
CREDITORS
Amounts falling due within one year 6 (14,394 ) (11,829 )
NET CURRENT LIABILITIES (14,132 ) (9,497 )
TOTAL ASSETS LESS CURRENT LIABILITIES 285,868 274,910

CREDITORS
Amounts falling due after more than
one year

7

(264,127

)

(272,638

)

PROVISIONS FOR LIABILITIES 8 (2,963 ) -
NET ASSETS 18,778 2,272

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 18,678 2,172
SHAREHOLDERS' FUNDS 18,778 2,272

WASSERMAN & WRIGHT LTD (REGISTERED NUMBER: 13298551)

BALANCE SHEET - continued
30TH APRIL 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 20th October 2023 and were signed by:





Mrs R Z Wright - Director


WASSERMAN & WRIGHT LTD (REGISTERED NUMBER: 13298551)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2023


1. STATUTORY INFORMATION

Wasserman & Wright Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Basic financial assets:
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future cash flows discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities:
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities:
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future cash flows discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if the payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest rate method.


WASSERMAN & WRIGHT LTD (REGISTERED NUMBER: 13298551)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 that have originated but not reversed at the balance sheet date.

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.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st May 2022 284,407
Revaluations 15,593
At 30th April 2023 300,000
NET BOOK VALUE
At 30th April 2023 300,000
At 30th April 2022 284,407

Fair value at 30th April 2023 is represented by:
£   
Valuation in 2022 284,407
Valuation in 2023 15,593
300,000

WASSERMAN & WRIGHT LTD (REGISTERED NUMBER: 13298551)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2023


4. INVESTMENT PROPERTY - continued

If the investment property had not been revalued it would have been included at the following historical cost:

30.4.23 30.4.22
£    £   
Cost 284,407 284,407

The investment property was valued on an open market basis on 30th April 2023 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade debtors - 2,220
Other debtors 100 100
100 2,320

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Bank loans and overdrafts 10,907 7,624
Trade creditors 1,215 530
Taxation and social security 1,312 2,823
Other creditors 960 852
14,394 11,829

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.23 30.4.22
£    £   
Bank loans 176,813 191,003
Amounts owed to group undertakings 87,314 81,635
264,127 272,638

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 100,467 137,638

8. PROVISIONS FOR LIABILITIES
30.4.23 30.4.22
£    £   
Deferred tax 2,963 -

WASSERMAN & WRIGHT LTD (REGISTERED NUMBER: 13298551)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2023


8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Provided during year 2,963
Balance at 30th April 2023 2,963

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.23 30.4.22
value: £    £   
50 Ordinary A £1 50 50
50 Ordinary B £1 50 50
100 100

10. RESERVES
Retained
earnings
£   

At 1st May 2022 2,172
Profit for the year 98,526
Dividends (82,020 )
At 30th April 2023 18,678

11. RELATED PARTY DISCLOSURES

Included within the intercompany balances at the balance sheet date are amounts owed to R&I Wright Ltd and Sew Hot Ltd of £82,535 and £4,780 respectively, (2022; £81,637 and nil). The companies are held under the common control of the shareholders Ian Wright and Rebecca Wright. The balance is interest free with any remainder repayable on demand.