W4G ESTATES LIMITED

Company Registration Number:
NI668874 (Northern Ireland)

Unaudited abridged accounts for the year ended 31 March 2024

Period of accounts

Start date: 01 April 2023

End date: 31 March 2024

W4G ESTATES LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2024

Balance sheet
Notes

W4G ESTATES LIMITED

Balance sheet

As at 31 March 2024


Notes

2024

2023


£

£
Fixed assets
Investments: 3 98,340 278,340
Total fixed assets: 98,340 278,340
Current assets
Debtors: 4 180,760
Cash at bank and in hand: 617 4,692
Total current assets: 181,377 4,692
Creditors: amounts falling due within one year: 5 (211,410) (196,160)
Net current assets (liabilities): (30,033) (191,468)
Total assets less current liabilities: 68,307 86,872
Creditors: amounts falling due after more than one year:   (90,000) (91,500)
Total net assets (liabilities): (21,693) (4,628)
Capital and reserves
Called up share capital: 100 100
Profit and loss account: (21,793) (4,728)
Shareholders funds: (21,693) (4,628)

The notes form part of these financial statements

W4G ESTATES LIMITED

Balance sheet statements

For the year ending 31 March 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 29 July 2024
and signed on behalf of the board by:

Name: Vera Lucia Almeida Azevedo
Status: Director

The notes form part of these financial statements

W4G ESTATES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Other accounting policies

1 General informationThe company is a private company, limited by shares, incorporated in Northern Ireland.The address of its registered office is: Admin OfficeSeahaven Park HomesSeahaven RoadGroomsportBT19 6PHNorthern IrelandThe presentation currency is £ Sterling. The level of rounding is to the nearest £.2 Accounting policiesSummary of significant accounting policies and key accounting estimates.The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.Statement of complianceThese financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies’ regime).Basis of preparationThese financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.Going concernThe directors have considered the going concern basis in preparing these financial statements. They have concluded that the going concern basis is appropriate because sufficient funds should be generated from ongoing trading along with continued support from the parent undertaking and its investors to enable the company to meet its liabilities as they arise. The financial statements do not include any adjustments that would result from the withdrawal of this support.Revenue recognitionTurnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.The company recognizes revenue when:- The amount of revenue can be reliably measured;- It is probable that future economic benefits will flow to the entity; and- Specific criteria have been met for each of the company's activities.TaxThe tax expense for the period comprises tax. Tax is recognized in profit or loss, except that a change attributable to an item of income or expense recognized as other comprehensive income is also recognized directly in other comprehensive income.The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.Deferred tax is recognized in respect of all timing differences between taxable profits and profits reported in the financial statements.Unrelieved tax losses and other deferred tax assets are recognized when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.Deferred tax is recognized on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognized for all taxable timing differences. Deferred tax assets are generally recognized for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilized. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realized, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.Investment propertyInvestment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuer uses observable data, adjusted if necessary for any difference in the nature, location, or condition of the specific assets. Changes in fair value are recognized in profit and loss.Cash and cash equivalentsCash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.Trade debtorsTrade debtors are amounts due from customers for goods sold or services performed in the ordinary course of business. Trade debtors are recognized initially at the transaction price. They are subsequently measured at amortized cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.Trade creditorsTrade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognized initially at the transaction price and subsequently measured at amortized cost using the effective interest method.Share capitalOrdinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

W4G ESTATES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

2. Employees

2024 2023
Average number of employees during the period 1 1

W4G ESTATES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Fixed investments

Investment property 2024 2023Investment property £ £At 1 April 278,340 183,340 Addition - 95,000 Disposal (180,000) - At 31 March 98,340 278,340

W4G ESTATES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Debtors

Receivables 2024 2023 £ £Property disposal proceeds 140,760 - Loans receivable 40,000 - 180,760 -

W4G ESTATES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Creditors: amounts falling due within one year note

CreditorsCreditors: amount falling due within one year 2024 2023 £ £Due within one year Accruals and deferred income 32,645 17,395 Other creditors 178,765 178,765 211,410 196,160

W4G ESTATES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

6. Related party transactions

Related party transactionsTransactions with the directors At 1 April Advances to Repayments At 31 March 2023 Director by directors 2024 £ £ £ £Vera Lucia (178,765) - - (178,765)The above loan is owed to the director by the Company. It is unsecured, interest-free, and repayable on demand.