Wargrave Road Development Ltd 09729757 false 2022-09-01 2023-03-31 2023-03-31 The principal activity of the company is property development Digita Accounts Production Advanced 6.30.9574.0 true true 09729757 2022-09-01 2023-03-31 09729757 2023-03-31 09729757 core:CurrentFinancialInstruments 2023-03-31 09729757 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 09729757 bus:SmallEntities 2022-09-01 2023-03-31 09729757 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-03-31 09729757 bus:FullAccounts 2022-09-01 2023-03-31 09729757 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-03-31 09729757 bus:RegisteredOffice 2022-09-01 2023-03-31 09729757 bus:Director1 2022-09-01 2023-03-31 09729757 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-03-31 09729757 countries:EnglandWales 2022-09-01 2023-03-31 09729757 2022-08-31 09729757 2021-09-01 2022-08-31 09729757 2022-08-31 09729757 core:CurrentFinancialInstruments 2022-08-31 09729757 core:CurrentFinancialInstruments core:WithinOneYear 2022-08-31 iso4217:GBP xbrli:pure

Registration number: 09729757

Wargrave Road Development Ltd

Unaudited Financial Statements

for the Period from 1 September 2022 to 31 March 2023

 

Wargrave Road Development Ltd

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 4

 

Wargrave Road Development Ltd

(Registration number: 09729757)
Statement of Financial Position as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

450,000

450,000

Current assets

 

Debtors

5

1

1

Creditors: Amounts falling due within one year

6

(646,563)

(597,415)

Net current liabilities

 

(646,562)

(597,414)

Net liabilities

 

(196,562)

(147,414)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(196,563)

(147,415)

Shareholders' deficit

 

(196,562)

(147,414)

For the financial period ending 31 March 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 period 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 23 August 2024
 

.........................................
Mr G Metcalf
Director

   
     
 

Wargrave Road Development Ltd

Notes to the Unaudited Financial Statements for the Period from 1 September 2022 to 31 March 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:
The Colony
Altrincham Road
Wilmslow
Cheshire
SK9 4LY

These financial statements were authorised for issue by the director on 23 August 2024.

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.

Going concern

At the balance sheet date, the company had net liabilities. The company has received assurances from the directors that they will continue to give financial support to the company for the foreseeable future and for a period not less than 12 months from the date of signing these financial statements.

On this basis, the directors considers it appropriate to prepare the accounts on the going concern basis. However, should the financial support mentioned above not be forthcoming the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be be necessary should this basis not continue to be appropriate.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Wargrave Road Development Ltd

Notes to the Unaudited Financial Statements for the Period from 1 September 2022 to 31 March 2023

Financial instruments

Recognition and measurement
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 constitues 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.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairement at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2022 - 1).

4

Investment properties

2023
£

At 1 September

450,000

At 31 March

450,000

There has been no valuation of investment property by an independent valuer.

5

Debtors

Current

2023
£

2022
£

Other debtors

1

1

 

1

1

 

Wargrave Road Development Ltd

Notes to the Unaudited Financial Statements for the Period from 1 September 2022 to 31 March 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

3,240

1,800

Other creditors

643,323

595,615

646,563

597,415

Included in other creditors is £450,000 (2022 - £450,000) which is secured by a fixed charge on the assets of the company.