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Registration number: 08286770

WDA Risk Solutions Ltd

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 30 November 2023

 

WDA Risk Solutions Ltd

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 5

 

WDA Risk Solutions Ltd

(Registration number: 08286770)
Statement of Financial Position as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

221

294

Current assets

 

Debtors

5

40,796

56,631

Cash at bank and in hand

 

75

52

 

40,871

56,683

Creditors: Amounts falling due within one year

6

(18,715)

(26,513)

Net current assets

 

22,156

30,170

Total assets less current liabilities

 

22,377

30,464

Creditors: Amounts falling due after more than one year

6

(7,729)

(12,750)

Net assets

 

14,648

17,714

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

14,548

17,614

Shareholders' funds

 

14,648

17,714

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Statement has been taken.

Approved and authorised by the director on 21 August 2024
 

.........................................
Mr William Goody
Director

 

WDA Risk Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is: Knoll House, Knoll Road, Camberley, Surrey, GU15 3SY. United Kingdom.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% on reducing balance

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

 

WDA Risk Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Trade creditors

Short term creditors are measured at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

Financial instruments

The Company only enters into basic financial instruments 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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 0).

 

WDA Risk Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 December 2022

1,143

1,143

At 30 November 2023

1,143

1,143

Depreciation

At 1 December 2022

849

849

Charge for the year

73

73

At 30 November 2023

922

922

Carrying amount

At 30 November 2023

221

221

At 30 November 2022

294

294

5

Debtors

2023
£

2022
£

Other debtors

40,796

56,631

40,796

56,631

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Bank loans and overdrafts

7

4,995

5,100

Taxation and social security

 

11,702

19,374

Accruals and deferred income

 

1,100

1,100

Other creditors

 

918

939

 

18,715

26,513

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Loans and borrowings

7

7,729

12,750

 

WDA Risk Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

7,729

12,750

2023
£

2022
£

Current loans and borrowings

Bank borrowings

4,995

5,100