Registered number
08146473
Whackamole Limited
Report and Accounts
30 September 2023
Accountancy 4 Wealth Limited
Accountants and Business Advisors
33 Wolverhampton Road
Cannock
Staffordshire
WS11 1AP
Whackamole Limited
Registered number: 08146473
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,372,506 1,182,266
Current assets
Stocks 14,726 -
Debtors 4 425,000 426,350
Cash at bank and in hand 11,934 8,943
451,660 435,293
Creditors: amounts falling due within one year 5 (393,085) (390,067)
Net current assets 58,575 45,226
Total assets less current liabilities 1,431,081 1,227,492
Creditors: amounts falling due after more than one year 6 (27,916) (28,415)
Net assets 1,403,165 1,199,077
Capital and reserves
Called up share capital 1,000 1,000
Revaluation reserve 7 1,036,395 846,395
Profit and loss account 365,770 351,682
Shareholders' funds 1,403,165 1,199,077
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.
Simon Linford
Director
Approved by the board on 29 December 2023
Whackamole Limited
Notes to the Accounts
for the year ended 30 September 2023
1 Accounting policies
Basis of preparation
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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land and buildings NIL
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings
£
Cost/ Revaluation
At 1 October 2022 1,182,266
Increase in revaluation reserve 190,240
At 30 September 2023 1,372,506
Depreciation
At 30 September 2023 -
Net book value
At 30 September 2023 1,372,506
At 30 September 2022 1,182,266
The property was revalued by the director during the year.
4 Debtors 2023 2022
£ £
Other debtors 425,000 426,350
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 5,000 10,000
Trade creditors 6,880 4,080
Amounts owed to group undertakings and undertakings in which the company has a participating interest 197,200 193,410
Corporation tax 3,848 3,379
Other taxes and social security costs 257 1,798
Other creditors 179,900 177,400
393,085 390,067
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 27,916 28,415
7 Revaluation reserve 2023 2022
£ £
At 1 October 2022 846,395 -
Gain on revaluation of land and buildings 190,000 846,395
At 30 September 2023 1,036,395 846,395
The companies land and buildings were revalued by the director during the year.
8 Related party transactions
There are no related party transactions.
9 Controlling party
The company is owned by Socio Cap Limited and Linford Czero Limited who each own 50% of the shares.
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