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REGISTERED NUMBER: 07174790 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

WIMALASUNDERA LTD

WIMALASUNDERA LTD (REGISTERED NUMBER: 07174790)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WIMALASUNDERA LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: R C Wimalasundera
Y J Perera





REGISTERED OFFICE: 34 High Drive
New Malden
Surrey
KT3 3UG





REGISTERED NUMBER: 07174790 (England and Wales)





ACCOUNTANTS: Liles Morris Limited
1st Floor
80 Coombe Road
New Malden
Surrey
KT3 4QS

WIMALASUNDERA LTD (REGISTERED NUMBER: 07174790)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 89,516 107,829

CURRENT ASSETS
Debtors 6 390,446 278,422
Investments 7 48,391 -
Cash at bank 387,479 428,321
826,316 706,743
CREDITORS
Amounts falling due within one year 8 97,708 100,835
NET CURRENT ASSETS 728,608 605,908
TOTAL ASSETS LESS CURRENT
LIABILITIES

818,124

713,737

CREDITORS
Amounts falling due after more than one year 9 (68,723 ) (85,450 )

PROVISIONS FOR LIABILITIES (17,008 ) (20,486 )
NET ASSETS 732,393 607,801

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 731,393 606,801
SHAREHOLDERS' FUNDS 732,393 607,801

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

WIMALASUNDERA LTD (REGISTERED NUMBER: 07174790)

BALANCE SHEET - continued
31 JULY 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 16 January 2024 and were signed on its behalf by:





R C Wimalasundera - Director


WIMALASUNDERA LTD (REGISTERED NUMBER: 07174790)

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


1. STATUTORY INFORMATION

Wimalasundera Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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. There were no material departures from this standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified for the revaluation of the current asset investments at market value.

Turnover
Turnover represents invoiced sales of services.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - Straight line over 8 years
Motor vehicles - 25% on cost
Computer equipment - 25% 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.

WIMALASUNDERA LTD (REGISTERED NUMBER: 07174790)

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


3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

4. EMPLOYEES AND DIRECTORS

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

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2022 109,745 1,275 124,543 11,907 247,470
Additions - - - 1,509 1,509
At 31 July 2023 109,745 1,275 124,543 13,416 248,979
DEPRECIATION
At 1 August 2022 109,744 1,275 18,636 9,986 139,641
Charge for year - - 18,636 1,186 19,822
At 31 July 2023 109,744 1,275 37,272 11,172 159,463
NET BOOK VALUE
At 31 July 2023 1 - 87,271 2,244 89,516
At 31 July 2022 1 - 105,907 1,921 107,829

WIMALASUNDERA LTD (REGISTERED NUMBER: 07174790)

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


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Motor
vehicles
£   
COST
At 1 August 2022
and 31 July 2023 124,543
DEPRECIATION
At 1 August 2022 18,636
Charge for year 18,636
At 31 July 2023 37,272
NET BOOK VALUE
At 31 July 2023 87,271
At 31 July 2022 105,907

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Directors' loan accounts 266,726 184,908
Tax 90,125 61,438
Prepayments and accrued income 33,595 32,076
390,446 278,422

7. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Listed investments 48,391 -

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Tax 79,783 83,583
Other creditors 15,989 15,315
Accruals and deferred income 1,936 1,937
97,708 100,835

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 68,723 85,450

WIMALASUNDERA LTD (REGISTERED NUMBER: 07174790)

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


10. RELATED PARTY DISCLOSURES

At the year end, the company had an interest bearing loan to a director of £270,000 (2022: £185,000). The director also had a balance due from the company of £3,274 (2022: £92).