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2023-02-01
Sage Accounts Production Advanced 2023 - FRS102_2023
xbrli:pure
xbrli:shares
iso4217:GBP
12398896
2023-02-01
2024-01-31
12398896
2024-01-31
12398896
2023-01-31
12398896
2022-02-01
2023-01-31
12398896
2023-01-31
12398896
2022-01-31
12398896
bus:LeadAgentIfApplicable
2023-02-01
2024-01-31
12398896
bus:Director1
2023-02-01
2024-01-31
12398896
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2024-01-31
12398896
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2023-01-31
12398896
core:AfterOneYear
2024-01-31
12398896
core:AfterOneYear
2023-01-31
12398896
core:ShareCapital
2024-01-31
12398896
core:ShareCapital
2023-01-31
12398896
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2024-01-31
12398896
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2023-01-31
12398896
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2023-02-01
2024-01-31
12398896
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2023-02-01
2024-01-31
12398896
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2023-02-01
2024-01-31
12398896
bus:PrivateLimitedCompanyLtd
2023-02-01
2024-01-31
12398896
bus:AbridgedAccounts
2023-02-01
2024-01-31
STATEMENT OF CONSENT TO PREPARE ABRIDGED FINANCIAL STATEMENTS |
|
All of the members of WS1 Developments Limited have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 January 2024 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER:
12398896
FILLETED UNAUDITED ABRIDGED FINANCIAL STATEMENTS |
|
REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ABRIDGED FINANCIAL STATEMENTS OF
WS1 DEVELOPMENTS LIMITED |
|
YEAR ENDED 31 JANUARY 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abridged financial statements of WS1 Developments Limited for the year ended 31 January 2024, which comprise the abridged statement of financial position 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
LANGARD LIFFORD HALL LIMITED
Accountants and Registered Auditors
Lifford Hall
Lifford Lane
Kings Norton
Birmingham
B30 3JN
6 August 2024
ABRIDGED STATEMENT OF FINANCIAL POSITION |
|
31 January 2024
Fixed assets
Tangible assets |
4 |
|
414,503 |
|
414,503 |
|
|
|
|
|
|
Current assets
Debtors |
5,381 |
|
5,399 |
|
Cash at bank and in hand |
20,824 |
|
37,881 |
|
|
------------ |
|
------------ |
|
|
26,205 |
|
43,280 |
|
|
|
|
|
|
Creditors: amounts falling due within one year |
169,020 |
|
184,526 |
|
|
------------ |
|
------------ |
|
Net current liabilities |
|
142,815 |
|
141,246 |
|
|
------------ |
|
------------ |
Total assets less current liabilities |
|
271,688 |
|
273,257 |
|
|
|
|
|
Creditors: amounts falling due after more than one year |
5 |
|
291,262 |
|
299,093 |
|
|
------------ |
|
------------ |
Net liabilities |
|
(
19,574) |
|
(
25,836) |
|
|
------------ |
|
------------ |
|
|
|
|
|
|
Capital and reserves
Called up share capital |
|
2 |
|
2 |
Profit and loss account |
|
(
19,576) |
|
(
25,838) |
|
|
------------ |
|
------------ |
Shareholders deficit |
|
(
19,574) |
|
(
25,836) |
|
|
------------ |
|
------------ |
|
|
|
|
|
These abridged 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 abridged statement of income and retained earnings has not been delivered.
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its abridged 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 abridged financial statements
.
ABRIDGED STATEMENT OF FINANCIAL POSITION (continued) |
|
31 January 2024
These abridged financial statements were approved by the
board of directors
and authorised for issue on
6 August 2024
, and are signed on behalf of the board by:
Company registration number:
12398896
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS |
|
YEAR ENDED 31 JANUARY 2024
1.
General Information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 150 Grange Road, Erdington, Birmingham, B24 0EX.
2.
Statement of Compliance
These abridged 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 abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The members' attention is drawn to the deficit shown in shareholder funds. The accounts have been prepared on the going concern basis following assurances from the directors of their continued support.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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.
Tangible Assets
|
£ |
Cost |
|
At 1 February 2023 and 31 January 2024 |
414,503 |
|
------------ |
Depreciation |
|
At 1 February 2023 and 31 January 2024 |
– |
|
------------ |
Carrying amount |
|
At 31 January 2024 |
414,503 |
|
------------ |
At 31 January 2023 |
414,503 |
|
------------ |
|
|
5.
Creditors:
amounts falling due after more than one year
Included within creditors: amounts falling due after more than one year is an amount of £267,328 (2023: £279,092) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
6.
Directors' Advances, Credits and Guarantees
Amounts owed to the directors at the year end are included in creditors and totalled £6,254 (2023: £6,574).