Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31false2022-04-01Property investment and bar74truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13481021 2022-04-01 2023-03-31 13481021 2021-06-28 2022-03-31 13481021 2023-03-31 13481021 2022-03-31 13481021 c:Director1 2022-04-01 2023-03-31 13481021 d:FurnitureFittings 2022-04-01 2023-03-31 13481021 d:FurnitureFittings 2023-03-31 13481021 d:FurnitureFittings 2022-03-31 13481021 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 13481021 d:ComputerEquipment 2022-04-01 2023-03-31 13481021 d:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 13481021 d:CurrentFinancialInstruments 2023-03-31 13481021 d:CurrentFinancialInstruments 2022-03-31 13481021 d:Non-currentFinancialInstruments 2023-03-31 13481021 d:Non-currentFinancialInstruments 2022-03-31 13481021 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 13481021 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 13481021 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 13481021 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 13481021 d:ShareCapital 2023-03-31 13481021 d:ShareCapital 2022-03-31 13481021 d:RetainedEarningsAccumulatedLosses 2023-03-31 13481021 d:RetainedEarningsAccumulatedLosses 2022-03-31 13481021 c:OrdinaryShareClass1 2022-04-01 2023-03-31 13481021 c:OrdinaryShareClass1 2023-03-31 13481021 c:OrdinaryShareClass1 2022-03-31 13481021 c:FRS102 2022-04-01 2023-03-31 13481021 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 13481021 c:FullAccounts 2022-04-01 2023-03-31 13481021 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 13481021 e:PoundSterling 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 13481021










TRADER WEMBLEY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
TRADER WEMBLEY LIMITED
REGISTERED NUMBER: 13481021

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,145
1,347

Current assets
  

Stocks
  
-
7,850

Debtors: amounts falling due within one year
 5 
59,963
8,520

Cash at bank and in hand
  
1,434
4,504

  
61,397
20,874

Creditors: amounts falling due within one year
 6 
(65,776)
(22,060)

Net current liabilities
  
 
 
(4,379)
 
 
(1,186)

Total assets less current liabilities
  
(3,234)
161

Creditors: amounts falling due after more than one year
 7 
(22,910)
(15,193)

  

Net liabilities
  
(26,144)
(15,032)


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
(26,244)
(15,132)

  
(26,144)
(15,032)


Page 1

 
TRADER WEMBLEY LIMITED
REGISTERED NUMBER: 13481021

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 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: 




R Patel
Director

Date: 19 March 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
TRADER WEMBLEY LIMITED
 

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

1.


General information

Trader Wembley Limited is a private company, limited by shares, registered in England and Wales. The address of its registered office is 3rd Floor, 24 Old Bond Street, London, W1S 4AP.
The functional and presentation currency of the Company is considered to be pounds sterling (£).

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

The financial statements have been prepared on a going concern basis which assumes that the company will continue in existence for the foreseeable future, being a period of at least twelve months from the date of approval of the financial statements.
The parent company, V & V Property Investments Ltd, has confirmed that it will continue to maintain its financial support of the company, by deferment of the amounts due to them and by other means.
The directors are therefore satisfied that the company will have sufficient resources to enable it to continue in existence for the forseeable future, and that it is therefore appropriate to prepare the financial statements on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Other income represents rents receivable during the period in accordance with the lease agreements with its tenants.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
TRADER WEMBLEY LIMITED
 

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

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Fixtures and fittings
-
15%
reducing balance
Computer equipment
-
33%
on cost
Property improvement
-
10%
on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
TRADER WEMBLEY LIMITED
 

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

2.Accounting policies (continued)

 
2.9

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.

 
2.10

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.

 
2.11

Financial instruments

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

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

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.

Page 5

 
TRADER WEMBLEY LIMITED
 

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

2.Accounting policies (continued)


2.11
Financial instruments (continued)

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.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2022 - 4).

Page 6

 
TRADER WEMBLEY LIMITED
 

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

4.


Tangible fixed assets





Fixtures and fittings

£



Cost


At 1 April 2022
1,368



At 31 March 2023

1,368



Depreciation


At 1 April 2022
21


Charge for the year on owned assets
202



At 31 March 2023

223



Net book value



At 31 March 2023
1,145



At 31 March 2022
1,347


5.


Debtors

2023
2022
£
£


Trade debtors
59,963
7,643

Other debtors
-
877

59,963
8,520



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
3,660
894

Amounts owed to group undertakings
31,275
8,900

Other taxation and social security
5,615
209

Other creditors
21,277
10,158

Accruals and deferred income
3,949
1,899

65,776
22,060


Page 7

 
TRADER WEMBLEY LIMITED
 

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

7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other creditors
22,910
15,193



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1 each
100
100



9.


Contingent liabilities

The company is a member of a VAT group. It is thereby jointly and severally liable for any VAT liabilities incurred by members of the group. As at 31 March 2023 the extent of this liability was £NIL (2022 £NIL).


10.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company  in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £2,050 (2022 - £57).
Contributions of £NIL (2022 - £118) were payable to the fund at the balance sheet date and were included in creditors.


11.


Related party transactions

The company has taken advantage of the exemption afforded by FRS 102 not to disclose transactions of balances with other wholly owned members of the group.


12.


Controlling party

The immediate and ultimate parent company is V & V Property Investment Ltd, a company incorporated in England and Wales. The address of its registered office is 3rd Floor, 24 Old Bond Street, London, W1S 4AP.


Page 8