IRIS Accounts Production v24.2.0.383 SC311625 Board of Directors 1.2.23 31.1.24 31.1.24 0 0 true false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC3116252023-01-31SC3116252024-01-31SC3116252023-02-012024-01-31SC3116252022-01-31SC3116252022-02-012023-01-31SC3116252023-01-31SC311625ns15:Scotland2023-02-012024-01-31SC311625ns14:PoundSterling2023-02-012024-01-31SC311625ns10:Director12023-02-012024-01-31SC311625ns10:PrivateLimitedCompanyLtd2023-02-012024-01-31SC311625ns10:SmallEntities2023-02-012024-01-31SC311625ns10:AuditExempt-NoAccountantsReport2023-02-012024-01-31SC311625ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-31SC311625ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-31SC311625ns10:FullAccounts2023-02-012024-01-31SC311625ns10:Director22023-02-012024-01-31SC311625ns10:Director32023-02-012024-01-31SC311625ns10:Director42023-02-012024-01-31SC311625ns10:CompanySecretary12023-02-012024-01-31SC311625ns10:RegisteredOffice2023-02-012024-01-31SC311625ns5:CurrentFinancialInstruments2024-01-31SC311625ns5:CurrentFinancialInstruments2023-01-31SC311625ns5:ShareCapital2024-01-31SC311625ns5:ShareCapital2023-01-31SC311625ns5:RetainedEarningsAccumulatedLosses2024-01-31SC311625ns5:RetainedEarningsAccumulatedLosses2023-01-31SC311625ns5:CostValuation2023-01-31SC311625ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-01-31SC311625ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-31SC3116251ns10:Director12023-01-31SC3116251ns10:Director12022-01-31SC3116251ns10:Director12023-02-012024-01-31SC3116251ns10:Director12022-02-012023-01-31SC3116251ns10:Director12024-01-31SC3116251ns10:Director12023-01-31SC311625ns10:Director332023-01-31SC311625ns10:Director332022-01-31SC311625ns10:Director332023-02-012024-01-31SC311625ns10:Director332022-02-012023-01-31SC311625ns10:Director332024-01-31SC311625ns10:Director332023-01-31SC311625ns10:Director442023-01-31SC311625ns10:Director442022-01-31SC311625ns10:Director442023-02-012024-01-31SC311625ns10:Director442022-02-012023-01-31SC311625ns10:Director442024-01-31SC311625ns10:Director442023-01-31
REGISTERED NUMBER: SC311625 (Scotland)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

WONDERLAND MODELS LIMITED

WONDERLAND MODELS LIMITED (REGISTERED NUMBER: SC311625)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


WONDERLAND MODELS LIMITED

COMPANY INFORMATION
for the year ended 31 January 2024







DIRECTORS: M Barton
I A L Reid
L Reid
J Reid





SECRETARY: I A L Reid





REGISTERED OFFICE: 97-101 Lothian Road
Edinburgh
Lothian
EH3 9AN





REGISTERED NUMBER: SC311625 (Scotland)





ACCOUNTANTS: Haines Watts
Business Advisors and Accountants
Q Court
3 Quality Street
Edinburgh
EH4 5BP

WONDERLAND MODELS LIMITED (REGISTERED NUMBER: SC311625)

BALANCE SHEET
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 4 1,000,000 1,000,000

CURRENT ASSETS
Debtors 5 366,935 271,258

CREDITORS
Amounts falling due within one year 6 190,963 157,270
NET CURRENT ASSETS 175,972 113,988
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,175,972

1,113,988

CAPITAL AND RESERVES
Called up share capital 1,000,000 1,000,000
Retained earnings 175,972 113,988
SHAREHOLDERS' FUNDS 1,175,972 1,113,988

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:





I A L Reid - Director


WONDERLAND MODELS LIMITED (REGISTERED NUMBER: SC311625)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 January 2024

1. STATUTORY INFORMATION

Wonderland Models Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS
The financial statements contain information about Wonderland Models Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

INVESTMENTS IN SUBSIDIARIES
Investments in subsidiary undertakings are recognised at cost less impairment, if any.

The carrying values of Investments in subsidiary undertakings are reviewed for impairment on an annual basis.

FINANCIAL INSTRUMENTS
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Short-term debt instruments, including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

WONDERLAND MODELS LIMITED (REGISTERED NUMBER: SC311625)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 February 2023
and 31 January 2024 1,000,000
NET BOOK VALUE
At 31 January 2024 1,000,000
At 31 January 2023 1,000,000

The directors have reviewed the carrying value of the Fixed Asset Investments at the period end, and have concluded that the carrying value is appropriate and that no impairment is required.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 366,935 271,258

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 32 96
Other creditors 190,931 157,174
190,963 157,270

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£    £   
I A L Reid
Balance outstanding at start of year (61,691 ) (32,271 )
Amounts advanced 46,903 24,565
Amounts repaid (58,150 ) (53,985 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (72,938 ) (61,691 )

L Reid
Balance outstanding at start of year 140,899 (30,776 )
Amounts advanced 64,906 243,415
Amounts repaid (205,000 ) (71,740 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 805 140,899

WONDERLAND MODELS LIMITED (REGISTERED NUMBER: SC311625)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

J Reid
Balance outstanding at start of year (94,915 ) (53,936 )
Amounts advanced 42,927 24,021
Amounts repaid (65,000 ) (65,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (116,988 ) (94,915 )

Interest of 2% and 2.25% is charged on overdrawn balances over £10,000.The loans have no fixed repayment terms.

8. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under 1AC.35 of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.