Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-3112022-05-20falseNo description of principal activitytrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true 14121322 2022-05-19 14121322 2022-05-20 2023-05-31 14121322 2021-05-20 2022-05-19 14121322 2023-05-31 14121322 c:Director1 2022-05-20 2023-05-31 14121322 d:CurrentFinancialInstruments 2023-05-31 14121322 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 14121322 d:ShareCapital 2023-05-31 14121322 d:RetainedEarningsAccumulatedLosses 2023-05-31 14121322 c:FRS102 2022-05-20 2023-05-31 14121322 c:AuditExempt-NoAccountantsReport 2022-05-20 2023-05-31 14121322 c:FullAccounts 2022-05-20 2023-05-31 14121322 c:PrivateLimitedCompanyLtd 2022-05-20 2023-05-31 iso4217:GBP xbrli:pure

Registered number: 14121322









WORLD PADEL ACADEMY (WPA) LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MAY 2023

 
WORLD PADEL ACADEMY (WPA) LTD
REGISTERED NUMBER: 14121322

BALANCE SHEET
AS AT 31 MAY 2023

2023
Note
£

  

Current assets
  

Cash at bank and in hand
 4 
1

  
1

Creditors: amounts falling due within one year
 5 
(40,486)

Net current (liabilities)/assets
  
 
 
(40,485)

Total assets less current liabilities
  
(40,485)

  

Net (liabilities)/assets
  
(40,485)


Capital and reserves
  

Called up share capital 
  
1

Profit and loss account
  
(40,486)

  
(40,485)


The director considers 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 period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his 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 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 on 20 February 2024.




James John Bowring
Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
WORLD PADEL ACADEMY (WPA) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

1.


General information

The company is a private limited company, which is incorpoated and registered in England (registration number: 14121322).  The address of the registered office is Cromwell House, 68 West Gate, Mansfield, Nottinghamshire, NG18 1RR.

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

Cash and cash equivalents

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.

 
2.3

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.

Page 2

 
WORLD PADEL ACADEMY (WPA) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.4

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees




The average monthly number of employees, including directors, during the period was 1.

Page 3

 
WORLD PADEL ACADEMY (WPA) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

4.


Cash and cash equivalents

2023
£

Cash at bank and in hand
1

1



5.


Creditors: Amounts falling due within one year

2023
£

Trade creditors
287

Other creditors
40,199

40,486


 
Page 4