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Company registration number: 05959591
WayPoint Change Limited
Unaudited filleted financial statements
for the year ended
31 December 2023
WayPoint Change Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
WayPoint Change Limited
Directors and other information
Directors N P D Winks
A P Pearson
Secretary A P Pearson
Company number 05959591
Registered office Lancaster House, 8 Landsgate
Pedmore
Stourbridge
West Midlands
DY8 2SD
Business address Lancaster House, 8 Landsgate
Pedmore
Stourbridge
West Midlands
DY8 2SD
WayPoint Change Limited
Statement of financial position
31 December 2023
2023 2022
Note £ £ £ £
Fixed assets
Intangible assets 4 - -
Tangible assets 5 13,189 35,799
Investments 6 620,000 750,650
_______ _______
633,189 786,449
Current assets
Debtors 7 38,405 43,457
Cash at bank and in hand 51,773 27,241
_______ _______
90,178 70,698
Creditors: amounts falling due
within one year 8 ( 93,531) ( 68,337)
_______ _______
Net current (liabilities)/assets ( 3,353) 2,361
_______ _______
Total assets less current liabilities 629,836 788,810
Provisions for liabilities ( 3,297) ( 8,950)
_______ _______
Net assets 626,539 779,860
_______ _______
Capital and reserves
Called up share capital 9 500 500
Profit and loss account 626,039 779,360
_______ _______
Shareholders funds 626,539 779,860
_______ _______
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 members have 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 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.
These financial statements were approved by the board of directors and authorised for issue on 19 August 2024 , and are signed on behalf of the board by:
A P Pearson
Director
Company registration number: 05959591
WayPoint Change Limited
Statement of changes in equity
Year ended 31 December 2023
Called up share capital Profit and loss account Total
£ £ £
At 1 January 2022 500 912,449 912,949
Profit for the year 161,686 161,686
_______ _______ _______
Total comprehensive income for the year - 161,686 161,686
Dividends paid and payable ( 294,775) ( 294,775)
_______ _______ _______
Total investments by and distributions to owners - ( 294,775) ( 294,775)
_______ _______ _______
At 31 December 2022 and 1 January 2023 500 779,360 779,860
Profit for the year 46,187 46,187
_______ _______ _______
Total comprehensive income for the year - 46,187 46,187
Dividends paid and payable ( 199,508) ( 199,508)
_______ _______ _______
Total investments by and distributions to owners - ( 199,508) ( 199,508)
_______ _______ _______
At 31 December 2023 500 626,039 626,539
_______ _______ _______
WayPoint Change 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 & Wales. The address of the registered office is Lancaster House, 8 Landsgate, Pedmore, Stourbridge, West Midlands, DY8 2SD.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The 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 financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover represents the amounts due for consultancy services to third parties during the year.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles - 4 years straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates .
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
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.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors and loans from related parties.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 profit or loss.For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
4. Intangible assets
Goodwill Total
£ £
Cost
At 1 January 2023 and 31 December 2023 922,202 922,202
_______ _______
Amortisation
At 1 January 2023 and 31 December 2023 922,202 922,202
_______ _______
Carrying amount
At 31 December 2023 - -
_______ _______
At 31 December 2022 - -
_______ _______
5. Tangible assets
Motor vehicles Total
£ £
Cost
At 1 January 2023 and 31 December 2023 90,440 90,440
_______ _______
Depreciation
At 1 January 2023 54,641 54,641
Charge for the year 22,610 22,610
_______ _______
At 31 December 2023 77,251 77,251
_______ _______
Carrying amount
At 31 December 2023 13,189 13,189
_______ _______
At 31 December 2022 35,799 35,799
_______ _______
6. Investments
Other investments other than loans Total
£ £
Cost
At 1 January 2023 750,650 750,650
Disposals ( 130,650) ( 130,650)
_______ _______
At 31 December 2023 620,000 620,000
_______ _______
Impairment
At 1 January 2023 and 31 December 2023 - -
_______ _______
Carrying amount
At 31 December 2023 620,000 620,000
_______ _______
At 31 December 2022 750,650 750,650
_______ _______
7. Debtors
2023 2022
£ £
Trade debtors 38,405 25,193
Other debtors - 18,264
_______ _______
38,405 43,457
_______ _______
In 2023 Other debtors included a loan of £nil (2022 - £15,264) to a director which was repaid after the year end.
8. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 364 9,420
Corporation tax 59,610 42,726
Social security and other taxes 19,565 15,327
Other creditors 13,992 864
_______ _______
93,531 68,337
_______ _______
In 2023 other creditors include £11,648 loans from directors (2022 - £864).
9. Called up share capital
Issued, called up and fully paid
2023 2022
No £ No £
Ordinary A shares of £ 1.00 each 125 125 125 125
Ordinary B shares of £ 1.00 each 125 125 125 125
Ordinary C shares of £ 1.00 each 125 125 125 125
Ordinary D shares of £ 1.00 each 125 125 125 125
_______ _______ _______ _______
500 500 500 500
_______ _______ _______ _______