Company registration number 07074157 (England and Wales)
WAGAMA ESTATES LIMITED
Unaudited financial statements
For the year ended 30 November 2023
Pages for filing with registrar
WAGAMA ESTATES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
WAGAMA ESTATES LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
3
88,000
88,000
Current assets
Stocks
2,738,835
2,740,136
Debtors
4
77,231
34,059
Cash at bank and in hand
2,427,273
2,222,437
5,243,339
4,996,632
Creditors: amounts falling due within one year
5
(339,130)
(278,031)
Net current assets
4,904,209
4,718,601
Net assets
4,992,209
4,806,601
Capital and reserves
Called up share capital
10,000
10,000
Share premium account
4,570,000
4,570,000
Profit and loss reserves
412,209
226,601
Total equity
4,992,209
4,806,601

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 16 August 2024 and are signed on its behalf by:
S B Katz
Director
Company registration number 07074157 (England and Wales)
WAGAMA ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 2 -
1
Accounting policies
Company information

Wagama Estates Limited is a private company limited by shares incorporated in England and Wales. The registered office is Zetland House, 5-25 Scrutton Street, London, EC2A 4HJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents the amounts receivable for the sale of property and rental income.

1.3
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

WAGAMA ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 3 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
5
5
3
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
88,000
88,000
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
17,283
(7,610)
Other debtors
59,948
41,669
77,231
34,059
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
50,749
-
0
Amounts owed to group undertakings
108,654
108,654
Corporation tax
53,996
32,032
Other taxation and social security
36,706
22,989
Other creditors
89,025
114,356
339,130
278,031
6
Company information

Wagama Estates Limited is a private company limited by shares incorporated in England and Wales. The registered office is Zetland House, 5-25 Scrutton Street, London, EC2A 4HJ.

 

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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