REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 April 2023 to 30 June 2024 |
for |
Wara Financial Services Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 April 2023 to 30 June 2024 |
for |
Wara Financial Services Limited |
Wara Financial Services Limited (Registered number: 06716843) |
Contents of the Financial Statements |
for the Period 1 April 2023 to 30 June 2024 |
Page |
Company Information | 1 |
Chartered Accountants' Report | 2 |
Balance Sheet | 3 |
Notes to the Financial Statements | 4 |
Wara Financial Services Limited |
Company Information |
for the Period 1 April 2023 to 30 June 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Marlborough |
Hillcrest |
Helston |
Cornwall |
TR13 8UN |
Chartered Accountants' Report to the Director |
on the Unaudited Financial Statements of |
Wara Financial Services Limited |
The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Wara Financial Services Limited for the period ended 30 June 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the director of Wara Financial Services Limited in accordance with the terms of our engagement letter dated 11 August 2015. Our work has been undertaken solely to prepare for your approval the financial statements of Wara Financial Services Limited and state those matters that we have agreed to state to the director of Wara Financial Services Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Wara Financial Services Limited and its director for our work or for this report. |
It is your duty to ensure that Wara Financial Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Wara Financial Services Limited. You consider that Wara Financial Services Limited is exempt from the statutory audit requirement for the period. |
We have not been instructed to carry out an audit or a review of the financial statements of Wara Financial Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Marlborough |
Hillcrest |
Helston |
Cornwall |
TR13 8UN |
Wara Financial Services Limited (Registered number: 06716843) |
Balance Sheet |
30 June 2024 |
30.6.24 | 31.3.23 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Wara Financial Services Limited (Registered number: 06716843) |
Notes to the Financial Statements |
for the Period 1 April 2023 to 30 June 2024 |
1. | STATUTORY INFORMATION |
Wara Financial Services Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
The accounting period is 15 months long and therefore the comparatives are not entirely comparable. The period has been extended to cover the time up to the receipt of the final payment for the sale of it's trade 5 years ago. It is the shareholder's intention to have the company struck off. |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 period 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. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL (2023 - NIL). |
Wara Financial Services Limited (Registered number: 06716843) |
Notes to the Financial Statements - continued |
for the Period 1 April 2023 to 30 June 2024 |
5. | DEBTORS |
30.6.24 | 31.3.23 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Directors' current accounts | 1 | 230 |
Amounts falling due after more than one year: |
Trade debtors |
Aggregate amounts |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.24 | 31.3.23 |
£ | £ |
Tax |
Accrued expenses |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.6.24 | 31.3.23 |
value: | £ | £ |
Ordinary | 0.01 | 1 | 1 |
8. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the period ended 30 June 2024 and the year ended 31 March 2023: |
30.6.24 | 31.3.23 |
£ | £ |
Balance outstanding at start of period | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |
The above loan has been provided on an interest free basis from / to the company. The loan to the company increases by the director paying for business expenses privately and some dividend payments are added to the loan and decreases by the company paying personal expenses for the director. No amounts have been written off or waived in the year. The loan is repayable on demand. |
9. | RELATED PARTY DISCLOSURES |
During the period, total dividends of £49,321 were paid to the director . |
Wara Financial Services Limited (Registered number: 06716843) |
Notes to the Financial Statements - continued |
for the Period 1 April 2023 to 30 June 2024 |
10. | ULTIMATE CONTROLLING PARTY |
The controlling party is Mr H L Wara. |
11. | STRIKE OFF. |
The trade of the company ceased on the 15th May 2019. The company has now collected in all of it's debts and plans to be struck off within 3 months of the year-end date. |