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COMPANY REGISTRATION NUMBER: 07441119
WV1 Limited
Filleted Unaudited Financial Statements
30 November 2022
WV1 Limited
Statement of Financial Position
30 November 2022
2022
2021
Note
£
£
£
Current assets
Debtors
4
29,556
29,556
Creditors: Amounts falling due within one year
5
8,082
8,070
--------
--------
Net current assets
21,474
21,486
--------
--------
Total assets less current liabilities
21,474
21,486
Creditors: Amounts falling due after more than one year
6
349
349
--------
--------
Net assets
21,125
21,137
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
21,025
21,037
--------
--------
Shareholders funds
21,125
21,137
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 24 November 2023 , and are signed on behalf of the board by:
Mr K Chahal
Director
Company registration number: 07441119
WV1 Limited
Notes to the Financial Statements
Year ended 30 November 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is .
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Financial instruments
4. Debtors
2022
2021
£
£
Other debtors
29,556
29,556
--------
--------
5. Creditors: Amounts falling due within one year
2022
2021
£
£
Bank loans and overdrafts
28
16
Trade creditors
1,554
1,554
Other creditors
6,500
6,500
-------
-------
8,082
8,070
-------
-------
6. Creditors: Amounts falling due after more than one year
2022
2021
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
349
349
----
----
7. Related party transactions
The company director was Mr K Chahal throughout the current and previous year. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.