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REGISTERED NUMBER: 10215689 (England and Wales)















Financial Statements for the Year Ended 30 June 2023

for

Wrexcom Limited

Wrexcom Limited (Registered number: 10215689)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Wrexcom Limited

Company Information
for the Year Ended 30 June 2023







DIRECTOR: G R Ziser (Nominee)





REGISTERED OFFICE: 1st Floor, 9 Hampstead West
224 Iverson Road
West Hampstead
London
NW6 2HL





REGISTERED NUMBER: 10215689 (England and Wales)





ACCOUNTANTS: Newmans
Chartered Certified Accountants
DVS House
Suite 1, First Floor
4 Spring Villa Road
Edgware
Middlesex
HA8 7EB

Wrexcom Limited (Registered number: 10215689)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,245,000 2,245,000

CURRENT ASSETS
Debtors 5 309,064 301,600
Cash at bank 1,401 792
310,465 302,392
CREDITORS
Amounts falling due within one year 6 1,050,311 1,042,286
NET CURRENT LIABILITIES (739,846 ) (739,894 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,505,154

1,505,106

CREDITORS
Amounts falling due after more than one year 7 1,472,658 1,478,095
NET ASSETS 32,496 27,011

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 8 32,495 27,010
SHAREHOLDERS' FUNDS 32,496 27,011

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Wrexcom Limited (Registered number: 10215689)

Balance Sheet - continued
30 June 2023


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 November 2023 and were signed by:





G R Ziser (Nominee) - Director


Wrexcom Limited (Registered number: 10215689)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Wrexcom Limited 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 ) .

Wrexcom Limited (Registered number: 10215689)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022
and 30 June 2023 2,245,000
NET BOOK VALUE
At 30 June 2023 2,245,000
At 30 June 2022 2,245,000

In the opinion of the director the market value of the property is represented by the net book value above.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 2,438 1,924
Amounts owed by group undertakings 288,357 -
Amounts owed by associates - 274,357
Prepayments 18,269 25,319
309,064 301,600

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 2,700 -
Trade creditors 9,898 7,623
Amounts owed to associates 1,025,660 1,025,660
Tax 1,286 623
Other creditors 10,065 7,900
Accrued expenses 702 480
1,050,311 1,042,286

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£    £   
Bank loans more 5 yr by instal 1,472,658 1,478,095

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,472,658 1,478,095

The bank loan is secured by a fixed and floating charges over Wrexcom Limited. The floating charge covers all of the property or undertaking of the company. The charges also contain a negative pledge.

Wrexcom Limited (Registered number: 10215689)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

8. RESERVES
Retained
earnings
£   

At 1 July 2022 27,010
Profit for the year 5,485
At 30 June 2023 32,495

9. CONTINGENT LIABILITIES

The company is a party to a joint bank loan facility agreement with related companies. As part of this agreement, the company has provided its freehold property and other assets as security to the bank. As at 30 June 2023, the contingent liability arising from the sum due to related companies to the bank amounted to £34,417,343 (2022 - £34,472,438).