IRIS Accounts Production v24.1.4.33 08302393 Board of Directors 1.12.22 30.11.23 30.11.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh083023932022-11-30083023932023-11-30083023932022-12-012023-11-30083023932021-11-30083023932021-12-012022-11-30083023932022-11-3008302393ns15:EnglandWales2022-12-012023-11-3008302393ns14:PoundSterling2022-12-012023-11-3008302393ns10:Director12022-12-012023-11-3008302393ns10:PrivateLimitedCompanyLtd2022-12-012023-11-3008302393ns10:SmallEntities2022-12-012023-11-3008302393ns10:AuditExempt-NoAccountantsReport2022-12-012023-11-3008302393ns10:SmallCompaniesRegimeForDirectorsReport2022-12-012023-11-3008302393ns10:SmallCompaniesRegimeForAccounts2022-12-012023-11-3008302393ns10:FullAccounts2022-12-012023-11-3008302393ns5:CurrentFinancialInstruments2023-11-3008302393ns5:CurrentFinancialInstruments2022-11-3008302393ns5:ShareCapital2023-11-3008302393ns5:ShareCapital2022-11-3008302393ns5:RetainedEarningsAccumulatedLosses2023-11-3008302393ns5:RetainedEarningsAccumulatedLosses2022-11-3008302393ns10:RegisteredOffice2022-12-012023-11-3008302393ns5:FurnitureFittings2022-12-012023-11-3008302393ns5:FurnitureFittings2023-11-3008302393ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-11-3008302393ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-11-30
REGISTERED NUMBER: 08302393 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

WISH DEVELOPMENTS LTD

WISH DEVELOPMENTS LTD (REGISTERED NUMBER: 08302393)

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










Page

Statement of Financial Position 1

Notes to the Financial Statements 2 to 5


WISH DEVELOPMENTS LTD (REGISTERED NUMBER: 08302393)

STATEMENT OF FINANCIAL POSITION
30 NOVEMBER 2023

30.11.23 30.11.22
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 443 -

CURRENT ASSETS
Inventories 743,362 820,404
Debtors 5 235,609 2,185
Cash at bank 53,735 151,032
1,032,706 973,621
CREDITORS
Amounts falling due within one year 6 (508,802 ) (452,779 )
NET CURRENT ASSETS 523,904 520,842
TOTAL ASSETS LESS CURRENT
LIABILITIES

524,347

520,842

CAPITAL AND RESERVES
Called up share capital 150 150
Retained earnings 524,197 520,692
524,347 520,842

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 directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2024 and were signed on its behalf by:




P A McGuinness - Director


WISH DEVELOPMENTS LTD (REGISTERED NUMBER: 08302393)

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


1. STATUTORY INFORMATION

WISH DEVELOPMENTS LTD is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08302393

Registered office: C/o 6-8 Winpenny Road
Parkhouse Industrial Est East
Newcastle under Lyme
Staffordshire
ST5 7RH

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 presentation currency of the financial statements is the Pound Sterling (£).

SIGNIFICANT JUDGEMENTS AND ESTIMATES
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

REVENUE RECOGNITION
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% reducing balance

VALUATION OF STOCKS
Stocks are valued at the lower of cost or net realisable value, based on the valuation performed by the directors.

WISH DEVELOPMENTS LTD (REGISTERED NUMBER: 08302393)

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


2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
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 constitutes 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 impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

WISH DEVELOPMENTS LTD (REGISTERED NUMBER: 08302393)

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


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and
fittings
£   
COST
Additions 554
At 30 November 2023 554
DEPRECIATION
Charge for year 111
At 30 November 2023 111
NET BOOK VALUE
At 30 November 2023 443

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Amounts owed by group undertakings 230,000 -
VAT 5,609 2,185
235,609 2,185

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade creditors 2,919 4,082
Amounts owed to group undertakings 325,555 350,703
Other creditors 178,403 96,419
Accruals and deferred income 1,925 1,575
508,802 452,779

7. RELATED PARTY DISCLOSURES

All transactions undertaken with the directors are deemed to be conducted under normal market conditions or are not material.

The company has taken advantage of the exemption from the disclosures according to FRS 102 Section 33.1A, regarding the transactions between fellow group companies, where the subsidiary party to the transaction is wholly owned by such a member

WISH DEVELOPMENTS LTD (REGISTERED NUMBER: 08302393)

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


8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Wish Developments (Holdings) Ltd.

The registered office and principal place of business is 6-8 Winpenny Road, Parkhouse Industrial Estate East, Newcastle, Staffs, ST5 7RH.