REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
FOR |
WTX LIMITED |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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 were approved by the director and authorised for issue on |
WTX LIMITED (REGISTERED NUMBER: 10497378) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
1. | STATUTORY INFORMATION |
WTX Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Freehold property | - |
Computer equipment | - |
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 |
Additions |
At 30 November 2023 |
DEPRECIATION |
Charge for year |
At 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
At 30 November 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed by connected companies | 143,200 | 143,200 |
VAT |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Amounts owed to connected companies | 2,340,217 | 2,381,217 |
Directors' current accounts | 612,496 | 612,496 |
Accrued expenses |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank loans |
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. |