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REGISTERED NUMBER: 10497378 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

WTX LIMITED

WTX LIMITED (REGISTERED NUMBER: 10497378)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


WTX LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTOR: P A Petrou





REGISTERED OFFICE: Southgate Office Village
286a Chase Road
Southgate
London
N14 6HF





REGISTERED NUMBER: 10497378 (England and Wales)





ACCOUNTANTS: ELM Partners
Chartered Certified Accountants
Southgate Office Village
286a Chase Road
Southgate
London
N14 6HF

WTX LIMITED (REGISTERED NUMBER: 10497378)

STATEMENT OF FINANCIAL POSITION
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,478,831 6,768,756

CURRENT ASSETS
Debtors 5 155,607 144,017
Cash at bank 21,653 5,472
177,260 149,489
CREDITORS
Amounts falling due within one year 6 12,695,585 8,072,362
NET CURRENT LIABILITIES (12,518,325 ) (7,922,873 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,039,494

)

(1,154,117

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (2,039,594 ) (1,154,217 )
SHAREHOLDERS' FUNDS (2,039,494 ) (1,154,117 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 August 2024 and were signed by:





P A Petrou - Director


WTX LIMITED (REGISTERED NUMBER: 10497378)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

WTX Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The director has expressed a willingness to support the company. He also expects, the company to receive external finance to enable it to continue to develop its property and bring it into operational use.

Based on the director's assertions, the financial statements have been prepared on a going concern basis as the director is satisfied that the company will have adequate resources to meet its liabilities to third parties as and when they fall due.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Computer equipment - 20% on cost

No depreciation has been provided on freehold property as it is still been developed for use in the company.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

WTX LIMITED (REGISTERED NUMBER: 10497378)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

4. TANGIBLE FIXED ASSETS
Freehold Computer
property equipment Totals
£    £    £   
COST
At 1 December 2022 6,768,756 - 6,768,756
Additions 3,709,182 1,116 3,710,298
At 30 November 2023 10,477,938 1,116 10,479,054
DEPRECIATION
Charge for year - 223 223
At 30 November 2023 - 223 223
NET BOOK VALUE
At 30 November 2023 10,477,938 893 10,478,831
At 30 November 2022 6,768,756 - 6,768,756

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by connected companies 143,200 143,200
VAT 12,407 817
155,607 144,017

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,741,072 5,076,899
Amounts owed to connected companies 2,340,217 2,381,217
Directors' current accounts 612,496 612,496
Accrued expenses 1,800 1,750
12,695,585 8,072,362

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 9,741,072 5,076,899

8. RELATED PARTY DISCLOSURES

Included in 'Creditors: amounts falling due within one year' is an amount of £612,496 (2022: £612,496) due to Mr P A Petrou, director of the company. The loan is interest free.

Included in 'Creditors: amounts falling due within one year' is an amount of £1,291,340 (2022: £1,332,340) due to companies where P A Petrou is the common director and shareholder. The loan is interest free.

Included in 'Creditors: amounts falling due within one year' is an amount of £1,048,876 (2022: £1,048,876) due to a company in which the director P A Petrou has a beneficial interest and his father is director and majority shareholder. The loan is interest free.

Included in 'Debtors: amounts falling due within one year' is an amount of £143,200 (2022: £143,200) due from companies where P A Petrou is the common director and shareholder. The loan is interest free.