Registered number
09773423
WLK Property Developments Limited
Filleted Accounts
30 September 2023
WLK Property Developments Limited
Registered number: 09773423
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 13,500 -
Current assets
Stocks 74,791 21,057
Debtors 4 2,539 -
Cash at bank and in hand 127,388 130,978
204,718 152,035
Creditors: amounts falling due within one year 5 (196,688) (128,180)
Net current assets 8,030 23,855
Total assets less current liabilities 21,530 23,855
Creditors: amounts falling due after more than one year 6 (11,450) (16,453)
Net assets 10,080 7,402
Capital and reserves
Called up share capital 100 100
Profit and loss account 9,980 7,302
Shareholders' funds 10,080 7,402
The director is 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 director acknowledges his 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.
B Wilkinson
Director
Approved by the board on 15 January 2024
WLK Property Developments 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 (as applied to small entities by section 1A of the standard).
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:
Plant and machinery over 3 years
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
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 October 2022 1,230 - 1,230
Additions - 18,000 18,000
At 30 September 2023 1,230 18,000 19,230
Depreciation
At 1 October 2022 1,230 - 1,230
Charge for the year - 4,500 4,500
At 30 September 2023 1,230 4,500 5,730
Net book value
At 30 September 2023 - 13,500 13,500
4 Debtors 2023 2022
£ £
Other debtors 2,539 -
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 4,872 4,872
Trade creditors 700 350
Corporation tax 138 2,920
Other creditors 190,978 120,038
196,688 128,180
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 11,450 16,453
7 Controlling party
The company is controlled by the director. At the balance sheet date the company owed the
directors £182,578 (2022 £111,638)
8 Other information
WLK Property Developments Limited is a private company limited by shares and incorporated in England. Its registered office is:
51 Mayfair Close
Warrington
Cheshire
WA5 3PL
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