Registered number
01795350
Wosco Research Limited
Filleted Accounts
31 December 2023
Wosco Research Limited
Registered number: 01795350
Balance Sheet
as at 31 December 2023
Restated
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 422 624
Investments 4 1,325,944 1,020,000
1,326,366 1,020,624
Current assets
Debtors 5 7,502 41,753
Cash at bank and in hand 248,541 439,296
256,043 481,049
Creditors: amounts falling due within one year 6 (64,858) (69,515)
Net current assets 191,185 411,534
Net assets 1,517,551 1,432,158
Capital and reserves
Called up share capital 50,000 50,000
Profit and loss account 1,467,551 1,382,158
Shareholders' funds 1,517,551 1,432,158
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ian Mitchell
Director
Approved by the board on 26 July 2024
Wosco Research Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). These financial statements for the year ended 31 December 2023 are the first financial statements that comply with FRS 102 Section 1A small entities. The date of transation was 1 December 2022.

The transition to FRS 102 Section 1A small entities has resulted in small changes in the accounting polocities to those used previously. There has been no impact on the opening equity and profit for the comparative year.

The financial statements are presented in sterling which is the functional currency of the company.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 2,438
At 31 December 2023 2,438
Depreciation
At 1 January 2023 1,814
Charge for the year 202
At 31 December 2023 2,016
Net book value
At 31 December 2023 422
At 31 December 2022 624
4 Investments
Investments in
subsidiary Other
undertakings investments Total
£ £ £
Cost
At 1 January 2023 1,000,000 20,000 1,020,000
Additions 325,944 - 325,944
Disposals - (20,000) (20,000)
At 31 December 2023 1,325,944 - 1,325,944
Historical cost
At 1 January 2023 1,000,000 20,000
At 31 December 2023 1,325,944 -
The investment in subsidiary undertakings has been valued during the reporting period by Time Investments London. The investment has been measured at fair value through the profit and loss.
Increase/(decrease) in fair value included in the profit and loss account for the financial year
2023 2022
£ £
Unlisted investments 25,944 -
5 Debtors 2023 2022
£ £
Other debtors 7,502 41,753
Amounts due after more than one year included above - -
6 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 59,778 66,715
Other creditors 5,080 2,800
64,858 69,515
7 Other information
Wosco Research Limited is a private company limited by shares and incorporated in England. Its registered office is:
20-22 Wenlock Road
London
N1 7GU
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