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REGISTERED NUMBER: 08667291 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

WO FUNDING LIMITED

WO FUNDING LIMITED (REGISTERED NUMBER: 08667291)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WO FUNDING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTORS: G V Windfeldt
A O Olaseinde





REGISTERED OFFICE: 129 Marston Road
Stafford
Staffordshire
ST16 3BT





REGISTERED NUMBER: 08667291 (England and Wales)





ACCOUNTANTS: Armstrongs Bishop Simmons
Chartered Accountants and Tax Advisors
Gethin House
36 Bond Street
Nuneaton
Warwickshire
CV11 4DA

WO FUNDING LIMITED (REGISTERED NUMBER: 08667291)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 39,362 20,421

CURRENT ASSETS
Debtors 5 3,175,368 2,797,396
Cash at bank 169,994 223,715
3,345,362 3,021,111
CREDITORS
Amounts falling due within one year 6 2,999,402 2,732,913
NET CURRENT ASSETS 345,960 288,198
TOTAL ASSETS LESS CURRENT
LIABILITIES

385,322

308,619

PROVISIONS FOR LIABILITIES 7,479 3,880
NET ASSETS 377,843 304,739

CAPITAL AND RESERVES
Called up share capital 7 50,000 50,000
Retained earnings 8 327,843 254,739
SHAREHOLDERS' FUNDS 377,843 304,739

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

WO FUNDING LIMITED (REGISTERED NUMBER: 08667291)

BALANCE SHEET - continued
31 AUGUST 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 Board of Directors and authorised for issue on 2 April 2024 and were signed on its behalf by:





G V Windfeldt - Director


WO FUNDING LIMITED (REGISTERED NUMBER: 08667291)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1. STATUTORY INFORMATION

WO Funding 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Software - 20% on cost

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

WO FUNDING LIMITED (REGISTERED NUMBER: 08667291)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2022 94,307
Additions 32,940
At 31 August 2023 127,247
DEPRECIATION
At 1 September 2022 73,886
Charge for year 13,999
At 31 August 2023 87,885
NET BOOK VALUE
At 31 August 2023 39,362
At 31 August 2022 20,421

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 1,457,747 1,347,385
Prepayments and accrued income 39,318 38,129
1,497,065 1,385,514

Amounts falling due after more than one year:
Trade debtors 1,678,303 1,411,882

Aggregate amounts 3,175,368 2,797,396

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 879,912 765,324
Amounts owed to group undertakings 561,860 535,449
Corporation tax 12,783 29,389
Social security and other taxes 1,016 1,112
Other creditors 1,539,343 1,397,559
Accrued expenses 4,488 4,080
2,999,402 2,732,913

WO FUNDING LIMITED (REGISTERED NUMBER: 08667291)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
25,000 Ordinary A £1 25,000 25,000
25,000 Ordinary B £1 25,000 25,000
50,000 50,000

8. RESERVES
Retained
earnings
£   

At 1 September 2022 254,739
Profit for the year 73,104
At 31 August 2023 327,843

9. RELATED PARTY DISCLOSURES

Included in Other creditors is £1,467,065 (2022 £1,382,258) due to Preferred Credit Inc. This amount is secured by a fixed and floating charge.

Included in Other creditors is £561,860 (2022 £535,449) due to KBA Investments Limited. This amount is secured by a fixed and floating charge.