Company registration number 10848152 (England and Wales)
WW ENTERPRISES (DEVON) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
PAGES FOR FILING WITH REGISTRAR
WW ENTERPRISES (DEVON) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
WW ENTERPRISES (DEVON) LIMITED
BALANCE SHEET
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment property
3
516,205
427,865
Current assets
Debtors
4
334
328
Creditors: amounts falling due within one year
5
(536,160)
(443,856)
Net current liabilities
(535,826)
(443,528)
Net liabilities
(19,621)
(15,663)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(19,721)
(15,763)
Total equity
(19,621)
(15,663)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 3 April 2024
Mr W M J Whittit
Director
Company registration number 10848152 (England and Wales)
WW ENTERPRISES (DEVON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
- 2 -
1
Accounting policies
Company information
WW Enterprises (Devon) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Deer Park Business Centre, Old Haldon Hill, Kennford, Exeter, Devon, United Kingdom, EX6 7XX.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The company meets its day to day working capital requirements through continued financial support from the director and shareholder.
On the basis of the continued support of the director and shareholders, the board consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the facilities provided.
1.3
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
WW ENTERPRISES (DEVON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 3 -
3
Investment property
2023
£
Fair value
At 1 August 2022
427,865
Additions
88,340
At 31 July 2023
516,205
The director assessed the value of the property at the year end, on an open market basis, and consider the fair value to be the same as cost.
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
334
328
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
142,102
79,526
Other creditors
394,058
364,330
536,160
443,856
6
Related party transactions
As at the balance sheet date, Mr Mark Whittit was owed £287,373 (2022: £287,373) by the company by way of a loan. This loan was interest free and repayable upon demand. Mr Mark Whittit is the father of Mr William Whittit, the sole director and shareholder of the company.
Also at the balance sheet date, MK 1 Limited was owed £74,369 (2022: £49,273) by the company by way of a loan. This loan was interest free and repayable upon demand. Mr Mark Whittit is the father of Mr William Whittit, a director and sole shareholder of the company.