Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-2848261048261012022-03-01falseRental of holiday let.1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11809629 2022-03-01 2023-02-28 11809629 2021-03-01 2022-02-28 11809629 2023-02-28 11809629 2022-02-28 11809629 2021-03-01 11809629 c:Director1 2022-03-01 2023-02-28 11809629 d:PlantMachinery 2022-03-01 2023-02-28 11809629 d:PlantMachinery 2023-02-28 11809629 d:PlantMachinery 2022-02-28 11809629 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 11809629 d:FreeholdInvestmentProperty 2023-02-28 11809629 d:FreeholdInvestmentProperty 2022-02-28 11809629 d:LeaseholdInvestmentProperty 2023-02-28 11809629 d:LeaseholdInvestmentProperty 2022-02-28 11809629 d:CurrentFinancialInstruments 2023-02-28 11809629 d:CurrentFinancialInstruments 2022-02-28 11809629 d:Non-currentFinancialInstruments 2023-02-28 11809629 d:Non-currentFinancialInstruments 2022-02-28 11809629 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 11809629 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 11809629 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 11809629 d:Non-currentFinancialInstruments d:AfterOneYear 2022-02-28 11809629 d:ShareCapital 2023-02-28 11809629 d:ShareCapital 2022-02-28 11809629 d:RetainedEarningsAccumulatedLosses 2023-02-28 11809629 d:RetainedEarningsAccumulatedLosses 2022-02-28 11809629 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 11809629 d:AcceleratedTaxDepreciationDeferredTax 2022-02-28 11809629 d:TaxLossesCarry-forwardsDeferredTax 2023-02-28 11809629 d:TaxLossesCarry-forwardsDeferredTax 2022-02-28 11809629 c:FRS102 2022-03-01 2023-02-28 11809629 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 11809629 c:FullAccounts 2022-03-01 2023-02-28 11809629 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure

Registered number: 11809629










WB 2019 LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

 
WB 2019 LIMITED
REGISTERED NUMBER: 11809629

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
1,267
1,678

Investment property
 6 
241,305
241,305

Current assets
  

Debtors: amounts falling due within one year
 7 
3,031
13,841

Cash at bank and in hand
  
1,854
4,033

  
4,885
17,874

Creditors: amounts falling due within one year
 8 
(163,054)
(179,182)

Net current liabilities
  
 
 
(158,169)
 
 
(161,308)

Total assets less current liabilities
  
84,403
81,675

Creditors: amounts falling due after more than one year
 9 
(7,150)
(9,750)

Provisions for liabilities
  

Deferred tax
 10 
(1,433)
(421)

Net assets
  
75,820
71,504


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
75,720
71,404

  
75,820
71,504


Page 1

 
WB 2019 LIMITED
REGISTERED NUMBER: 11809629
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 November 2023.




W Ballance
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
WB 2019 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

WB 2019 Limited is a private company limited by shares, incorporated in England and Wales (registered number: 11809629). Its registered office is Unit 3 Acres Hill Business Park, Acres Hill Lane, Sheffield, South Yorkshire, S9 4LR. The principal activity of the Company throughout the year was that of the rental of property.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The Company's functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

Page 3

 
WB 2019 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties, and loans to and from related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction,  the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Page 4

 
WB 2019 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.8

Current and deferred taxation

Tax is recognised in the Statement of Income and Retained Earnings.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Preparation of the financial statements requires management to make significant judgments and estimates. The items in the financial statements where those judgments and estimates have been made include: 

Valuation of investment property
In assessing the fair value of investment property, the director has used his judgment. The fair value of the investment property has been calculated on the basis that it reasonably reflects how the market could be expected to price the investment property and the inputs to the valuation technique reasonably represent market expectations.


4.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 5

 
WB 2019 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

5.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 March 2022
2,054



At 28 February 2023

2,054



Depreciation


At 1 March 2022
376


Charge for the year on owned assets
411



At 28 February 2023

787



Net book value



At 28 February 2023
1,267



At 28 February 2022
1,678

Page 6

 
WB 2019 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

6.


Investment property


Freehold investment property
Long term leasehold investment property
Total

£
£
£



Valuation


At 1 March 2022
-
241,305
241,305



At 28 February 2023
-
241,305
241,305

The 2023 valuations were made by the director, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
241,305
241,305

Page 7

 
WB 2019 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

7.


Debtors

2023
2022
£
£


Trade debtors
-
10,236

Other debtors
300
3,075

Prepayments and accrued income
2,731
530

3,031
13,841



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
2,600
2,600

Trade creditors
2,228
1,124

Corporation tax
17,649
17,649

Other taxation and social security
1,264
-

Other creditors
136,120
155,959

Accruals and deferred income
3,193
1,850

163,054
179,182





9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
7,150
9,750




Page 8

 
WB 2019 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

10.


Deferred taxation




2023
2022


£

£






At beginning of year
421
10,678


Charged to profit or loss
1,012
-


Utilised in year
-
10,257



At end of year
1,433
421

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
16,650
16,728

Tax losses carried forward
(15,217)
(16,307)

1,433
421

 
Page 9