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Company registration number: 10631220







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
28 FEBRUARY 2023


WEDA NORTHOLT LIMITED






































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WEDA NORTHOLT LIMITED
 
 
COMPANY INFORMATION


Directors
E Ahlin 
M Weston 




Registered number
10631220



Registered office
Unit 1 Northolt Trading Estate
Belvue Road

Northolt

Middlesex

UB5 5QS




Independent auditors
Menzies LLP
Chartered Accountants & Statutory Auditor

3000a Parkway

Whiteley

Hampshire

PO15 7FX





 
WEDA NORTHOLT LIMITED
 

CONTENTS



Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 4


 
WEDA NORTHOLT LIMITED
REGISTERED NUMBER:10631220

STATEMENT OF FINANCIAL POSITION
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
100
100

  
100
100

Current assets
  

Debtors
  
120,000
100,000

  
120,000
100,000

Creditors: amounts falling due within one year
 5 
(126,110)
(107,242)

Net current liabilities
  
 
 
(6,110)
 
 
(7,242)

Total assets less current liabilities
  
(6,010)
(7,142)

Creditors: amounts falling due after more than one year
 6 
(33,926)
(48,878)

  

Net liabilities
  
(39,936)
(56,020)


Capital and reserves
  

Called up share capital 
  
466
488

Capital redemption reserve
  
334
312

Other reserves
  
(48,810)
(62,564)

Profit and loss account
  
8,074
5,744

  
(39,936)
(56,020)


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



................................................
E Ahlin
Director

Date: 29 November 2023

The notes on pages 3 to 4 form part of these financial statements.

Page 1

 

WEDA NORTHOLT LIMITED
 
 
 


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 28 FEBRUARY 2023



Called up share capital
Capital redemption reserve
Other reserves
Profit and loss account
Total equity


£
£
£
£
£



At 1 March 2021
510
290
(75,216)
(74,706)
(149,122)



Comprehensive income for the year


Profit for the year
-
-
-
93,102
93,102

Total comprehensive income for the year
-
-
-
93,102
93,102


Buyback of shares
(22)
22
12,652
(12,652)
-



Total transactions with owners
(22)
22
12,652
(12,652)
-





At 1 March 2022
488
312
(62,564)
5,744
(56,020)



Comprehensive income for the year


Profit for the year
-
-
-
16,084
16,084

Total comprehensive income for the year
-
-
-
16,084
16,084


Buyback of shares
(22)
22
13,754
(13,754)
-



Total transactions with owners
(22)
22
13,754
(13,754)
-



At 28 February 2023
466
334
(48,810)
8,074
(39,936)



The notes on pages 3 to 4 form part of these financial statements.

Page 2

 
WEDA NORTHOLT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

WEDA Northolt Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office is disclosed on the company information page.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the year end date, the accounts show a net liability position, suggesting that the company may not be able to meet its obligations as they fall due.
The company is undergoing a share buy back process with former shareholders using staged completion dates annually through to the year ended February 2026. These cash payments to former shareholders are supported by other formerly associated companies and will continue to be so for the remainder of the agreement.
As such, the Directors continue to adopt the going concern basis of accounting in preparing these annual financial statements.

 
2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.4

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 -2).

Page 3

 
WEDA NORTHOLT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 March 2022
100



At 28 February 2023
100





5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other creditors
126,110
107,242

126,110
107,242



6.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other creditors
33,926
48,878

33,926
48,878



7.


Controlling party

In the opinion of the directors, there is no ultimate controlling party.


8.


Auditors' information

The auditors' report on the financial statements for the year ended 28 February 2023 was unqualified.

The audit report was signed on 29 November 2023 by Andrew Galliers FCA (Senior statutory auditor) on behalf of Menzies LLP.

 
Page 4