0 false false false false false false false false false true false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 390,000 5,000 395,000 395,000 390,000 xbrli:pure xbrli:shares iso4217:GBP 13280319 2022-04-01 2023-03-31 13280319 2023-03-31 13280319 2022-03-31 13280319 2021-03-21 2022-03-31 13280319 2022-03-31 13280319 bus:Director1 2022-04-01 2023-03-31 13280319 core:AfterOneYear 2023-03-31 13280319 core:AfterOneYear 2022-03-31 13280319 core:WithinOneYear 2023-03-31 13280319 core:WithinOneYear 2022-03-31 13280319 core:UKTax 2022-04-01 2023-03-31 13280319 core:UKTax 2021-03-21 2022-03-31 13280319 core:ShareCapital 2023-03-31 13280319 core:ShareCapital 2022-03-31 13280319 core:RevaluationReserve 2023-03-31 13280319 core:RevaluationReserve 2022-03-31 13280319 core:RetainedEarningsAccumulatedLosses 2023-03-31 13280319 core:RetainedEarningsAccumulatedLosses 2022-03-31 13280319 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 13280319 core:LandBuildings core:OwnedOrFreeholdAssets 2022-03-31 13280319 core:LandBuildings core:OwnedOrFreeholdAssets 2022-03-31 13280319 core:LandBuildings core:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 13280319 bus:SmallEntities 2022-04-01 2023-03-31 13280319 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 13280319 bus:FullAccounts 2022-04-01 2023-03-31 13280319 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 13280319 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31
COMPANY REGISTRATION NUMBER: 13280319
13WC Limited
Filleted Unaudited Financial Statements
For the year ended
31 March 2023
13WC Limited
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
395,000
390,000
Current assets
Cash at bank and in hand
6,738
3,584
Creditors: amounts falling due within one year
6
105,283
103,455
---------
---------
Net current liabilities
98,545
99,871
---------
---------
Total assets less current liabilities
296,455
290,129
Creditors: amounts falling due after more than one year
7
262,500
262,500
Provisions
6,192
5,242
---------
---------
Net assets
27,763
22,387
---------
---------
Capital and reserves
Called up share capital
10
10
Revaluation reserve
26,399
22,349
Profit and loss account
1,354
28
--------
--------
Shareholders funds
27,763
22,387
--------
--------
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 comprehensive income has not been delivered.
For the year ending 31 March 2023 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 .
13WC Limited
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 29 November 2023 , and are signed on behalf of the board by:
B Halstead
Director
Company registration number: 13280319
13WC Limited
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Marquis House, 1a High Street, Waltham on the Wolds, Melton Mowbray, Leicestershire, LE14 4AH.
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.
Revenue recognition
Turnover is measured at the fair value of rental income received or receivable during the reporting period and is stated net of discounts and of Value Added Tax.
Taxation
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.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. Unrealised changes to the fair value of the investment property together with the related deferred taxation are transferred from the profit and loss reserve to the revaluation reserve each year.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Tax on profit
Major components of tax expense
Period from
Year to
21 Mar 21 to
31 Mar 23
31 Mar 22
£
£
Current tax:
UK current tax expense
780
253
Deferred tax:
Origination and reversal of timing differences
950
5,242
-------
-------
Tax on profit
1,730
5,495
-------
-------
5. Tangible assets
Freehold property
£
Cost or valuation
At 1 April 2022
390,000
Revaluations
5,000
---------
At 31 March 2023
395,000
---------
Depreciation
At 1 April 2022 and 31 March 2023
---------
Carrying amount
At 31 March 2023
395,000
---------
At 31 March 2022
390,000
---------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
781
253
Other creditors
104,502
103,202
---------
---------
105,283
103,455
---------
---------
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
262,500
262,500
---------
---------