Registered number: 01102562
WEFTDALE SECURITIES LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
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WEFTDALE SECURITIES LIMITED
COMPANY INFORMATION
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1st Floor Sackville House
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WEFTDALE SECURITIES LIMITED
CONTENTS
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Notes to the Financial Statements
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WEFTDALE SECURITIES LIMITED
REGISTERED NUMBER: 01102562
BALANCE SHEET
AS AT 31 MARCH 2023
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Creditors: amounts falling due within one year
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Allotted, called up and fully paid share capital
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EQUITY SHAREHOLDERS' FUNDS
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Page 1
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WEFTDALE SECURITIES LIMITED
REGISTERED NUMBER: 01102562
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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 Directors' Report and Statement of Comprehensive Income in accordance with provisions applicable to companies subject to the small companies regime, under section 444 of the Companies Act 2006.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 November 2023.
The notes on pages 3 to 6 form part of these financial statements.
Page 2
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WEFTDALE SECURITIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Weftdale Securities Limited (Company number: 01102562), having its registered office at 1st Floor Sackville House, 143-149 Fenchurch Street, London, EC3M 6BN, is a private limited company incorporated in England and Wales. The company's principal place of business is 94 Winnington Road, London, N2 0TU.
2.ACCOUNTING POLICIES
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Basis of preparation of financial statements
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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:
The Company has taken advantage of the exemption in the Financial Reporting Standard 102, Section 1A.7 from the requirement to provide a Statement of Cash Flows on the grounds that it is a small company.
Investments held as fixed assets are shown at cost less provision for impairment.
Short-term debtors are measured at transaction price, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Page 3
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WEFTDALE SECURITIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
2.ACCOUNTING POLICIES (continued)
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the Balance Sheet date.
Short-term creditors are measured at the transaction price.
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Current asset investments
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Current asset investments are valued at the lower of cost and net realisable value.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
Tax is recognised in the Statement of Comprehensive Income.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not
reversed by the Balance Sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
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The average monthly number of employees, including directors, during the year was 4 (2022 - 4).
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Page 4
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WEFTDALE SECURITIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
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Other fixed asset investments
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CURRENT ASSET INVESTMENTS
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The market value of the listed investments at 31 March 2023 was £135,327 (2022: £162,229).
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CREDITORS: Amounts falling due within one year
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Other creditors (incl directors loans)
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Accruals and deferred income
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Page 5
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WEFTDALE SECURITIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
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RELATED PARTY TRANSACTIONS
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Included within other creditors are amounts owed to key management personnel of the Company of £60,383 (2022: £33,164).
Included within other creditors are amounts due to related parties of £1,909,094 (2022: £1,905,771).
These companies are related by virtue of common control and directorships.
Included within other debtors are amounts due from related parties of £1,536,627 (2022 £1,484,327).
These companies are related by virtue of common control and directorships.
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Page 6
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