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COMPANY REGISTRATION NUMBER: 06690150
WOKING PROPERTIES (BROADMEAD) LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 December 2023
WOKING PROPERTIES (BROADMEAD) LIMITED
STATEMENT OF FINANCIAL POSITION
31 December 2023
2023
2022
Note
£
£
Current assets
Stocks
115,733
115,733
Creditors: amounts falling due within one year
4
89,327
89,186
----------
----------
Net current assets
26,406
26,547
---------
---------
Total assets less current liabilities
26,406
26,547
---------
---------
Net assets
26,406
26,547
---------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
26,405
26,546
---------
---------
Shareholder funds
26,406
26,547
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 15 July 2024 , and are signed on behalf of the board by:
Z Virani
Director
Company registration number: 06690150
WOKING PROPERTIES (BROADMEAD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Diamond House, 179-181 Lower Richmond Road, Richmond, TW9 4LN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
In accordance with their responsibilities, the directors have considered the appropriateness of the going concern basis for the preparation of the financial statements. For this purpose, the directors have considered the adequacy of the company's cash resources covering the period 12 months ahead of the approval of these financial statements. The directors have reasonable expectations that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, the directors continue to adopt the going concern basis in preparing these financial statements.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
121
130
Amounts owed to group undertakings
82,993
82,993
Accruals and deferred income
500
500
Amounts owed to related parties
5,713
5,563
---------
---------
89,327
89,186
---------
---------
5. Related party transactions
At 31 December 2023 , creditors, amounts falling due within one year, included amounts owed to related parties amounting to £250 (2022: £250), in respect of a director's loan. The loan is interest free, unsecured and repayable on demand.
6. Controlling party
The company is a wholly owned subsidiary of Woking Properties Limited, a company registered in England & Wales. The registered office address of Woking Properties Limited is Diamond House, 179-181 Lower Richmond Road, Richmond, England TW9 4LN.