Wakefield Developers Limited |
Registered number: |
13947531 |
Balance Sheet |
as at 31 March 2023 |
|
Notes |
|
|
2023 |
|
£ |
|
Current assets |
Stocks |
|
|
835,116 |
Debtors |
3 |
|
58,405 |
Cash at bank and in hand |
|
|
68 |
|
|
|
893,589 |
|
|
|
Creditors: amounts falling due within one year |
4 |
|
(895,514) |
|
Net current liabilities |
|
|
|
(1,925) |
|
|
Net liabilities |
|
|
|
(1,925) |
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
100 |
Profit and loss account |
|
|
|
(2,025) |
|
Shareholders' funds |
|
|
|
(1,925) |
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
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|
|
|
Mr S Kripalani |
Director |
Approved by the board on 14 November 2023 |
|
Wakefield Developers Limited |
Notes to the Accounts |
for the period from 1 March 2022 to 31 March 2023 |
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|
1 |
Accounting policies |
|
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
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Going concern |
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At 31 March 2023 the company had net current liabilities of £1,925 . The directors of the company is confident that all payments and liabilities will be met as and when they arise. The director is of the opinion that the financial statements should be drawn up on a going concern basis. |
|
2 |
Employees |
2023 |
|
Number |
|
|
|
Average number of persons employed by the company |
0 |
|
|
|
|
|
|
|
|
|
3 |
Debtors |
2023 |
|
£ |
|
|
|
Other debtors |
58,405 |
|
|
|
|
|
|
|
|
|
4 |
Creditors: amounts falling due within one year |
2023 |
|
£ |
|
|
|
Other creditors |
895,514 |
|
|
|
|
|
|
|
|
|
5 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
£ |
£ |
£ |
£ |
|
Mr S Kripalani |
|
Loan repayable before 31 Dec 2023 |
- |
|
48,750 |
|
(12,000) |
|
36,750 |
|
|
|
- |
|
48,750 |
|
(12,000) |
|
36,750 |
|
|
|
|
|
|
|
|
|
|
6 |
Related party transactions |
2023 |
£ |
|
Lemon Properties Limited |
|
The company is related to Lemon Properties Limited by virtue of common control. The amount due to and from these related parties at the year end were as follows: |
|
|
The amount due (to) / from Lemon Properties Limited |
|
(187,000) |
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The loan is interest free. |
|
|
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Leeds1 Properties Limited |
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The company is related to Leeds1 Properties Limited by virtue of common control. The amount due to and from these related parties at the year end were as follows: |
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The amount due (to) / from Leeds1 Properties Limited |
|
(41,750) |
|
The loan is interest free. |
|
|
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Leeds2 Properties Limited |
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The company is related to Leeds2 Properties Limited by virtue of common control. The amount due to and from these related parties at the year end were as follows: |
|
The amount due (to) / from Leeds2 Properties Limited |
|
(16,000) |
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The loan is interest free. |
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|
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Fountain Street Developments Limited |
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The company is related to Fountain Street Developments Limited by virtue of common control. The amount due to and from these related parties at the year end were as follows: |
|
The amount due (to) / from Fountain Street Developments Limited |
|
20,000 |
|
The loan is interest free. |
|
7 |
Controlling party |
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The company is controlled by Mr. S Kripalani and Mrs S Kripalani by virtue of their 70% shareholding in the issued share capital of the company. |
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8 |
Other information |
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Wakefield Developers Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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Suite-11, Boundary House |
|
Boston Road |
|
London |
|
W7 2QE |