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Registration number: 08064230

Warden Baker UK Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Warden Baker UK Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Warden Baker UK Limited

Company Information

Director

Mr V S Rege

Registered office

Hygeia Building
Rear Ground Floor
66-68 College Road
Harrow
Middlesex
HA1 1BE

Accountants

Aventus Partners Limited
Hygeia Building
Ground Floor
66-68 College Road
Harrow
Middlesex
HA1 1BE

 

Warden Baker UK Limited

(Registration number: 08064230)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

9,762

11,996

Current assets

 

Debtors

5

390,916

397,809

Cash at bank and in hand

 

81,190

25,851

 

472,106

423,660

Creditors: Amounts falling due within one year

6

(78,316)

(79,186)

Net current assets

 

393,790

344,474

Net assets

 

403,552

356,470

Capital and reserves

 

Called up share capital

7

50,000

50,000

Retained earnings

353,552

306,470

Shareholders' funds

 

403,552

356,470

For the financial year ending 31 December 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 year 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 and delivered 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 Profit and Loss Account.

The financial statements were approved and authorised for issue by the director on 22 August 2024
 

 

Warden Baker UK Limited

(Registration number: 08064230)
Balance Sheet as at 31 December 2023 (continued)

.........................................
Mr V S Rege
Director

   
     
 

Warden Baker UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
Hygeia Building
Rear Ground Floor
66-68 College Road
Harrow
Middlesex
HA1 1BE
United Kingdom

The principal place of business is:
Aurora House
71-75 Uxbridge Road
London
W5 5SL
United Kingdom

These financial statements were authorised for issue by the director on 22 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.

The functional and presentational currency is GBP Sterling (£), being the currency of the primary economic environment in which the company operates in. The amounts are presented rounded to the nearest pound.

 

Warden Baker UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the rendering of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance basis

 

Warden Baker UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average monthly number of persons employed by the company (including the director) during the year, was 4 (2022: 4).

 

Warden Baker UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

4

Tangible assets

Furniture, fittings and equipment
 £

Cost

At 1 January 2023

20,831

Additions

1,016

At 31 December 2023

21,847

Depreciation

At 1 January 2023

8,835

Charge for the year

3,250

At 31 December 2023

12,085

Carrying amount

At 31 December 2023

9,762

At 31 December 2022

11,996

 

Warden Baker UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

5

Debtors

Note

2023
£

2022
£

Amounts owed by group undertaking

8

360,000

376,384

Prepayments

 

6,232

6,529

Other debtors

 

24,684

14,896

 

390,916

397,809

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

1,326

1,519

Amounts owed to group undertakings

8

51,000

51,000

Taxation and social security

 

9,426

8,647

Other creditors

 

1,027

997

Accrued expenses

 

2,000

2,970

Corporation tax payable

 

13,537

12,617

Deferred income

 

-

1,436

 

78,316

79,186

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary Shares of £1 each

50,000

50,000

50,000

50,000

       
 

Warden Baker UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

8

Related party transactions

Summary of transactions with parent

The company has provided services to Warden Baker, a company incorporated in the Cayman Islands. At the balance sheet date, the amount owed to the company by Warden Baker was £360,000 (2022: £376,384).

Also, at the balance sheet date the amount owed by the company to Warden Baker was £51,000 (2022: £51,000). The loan is interest free and repayable on demand.

 

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

407,750

340,830

Contributions paid to money purchase schemes

1,320

1,321

409,070

342,151

9

Parent and ultimate controlling party

The company's immediate and ultimate parent is Warden Baker, incorporated in the Cayman Islands.

 The ultimate controlling party is Mr. Moiz Vahanvaty.