Registered number
01127663
David Wade Limited
Unaudited Filleted Accounts
31 December 2023
David Wade Limited
Registered number: 01127663
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 721 376
Investments 4 - 15,000
721 15,376
Current assets
Stocks 3,710 1,814
Debtors 5 17,084 -
Cash at bank and in hand 254,252 62,192
275,046 64,006
Creditors: amounts falling due within one year 6 (52,182) (37,059)
Net current assets 222,864 26,947
Total assets less current liabilities 223,585 42,323
Creditors: amounts falling due after more than one year 7 - (50,000)
Provisions for liabilities (137) (72)
Net assets/(liabilities) 223,448 (7,749)
Capital and reserves
Called up share capital 20,000 20,000
Profit and loss account 203,448 (27,749)
Shareholders' funds 223,448 (7,749)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr David Wade
Director
Approved by the board on 13 August 2024
David Wade Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% straight line
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 1,596
Additions 793
At 31 December 2023 2,389
Depreciation
At 1 January 2023 1,220
Charge for the year 448
At 31 December 2023 1,668
Net book value
At 31 December 2023 721
At 31 December 2022 376
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 January 2023 15,000
Disposals (15,000)
At 31 December 2023 -
Historical cost
At 1 January 2023 15,000
5 Debtors 2023 2022
£ £
Trade debtors 15,186 -
Trip Expenses Paid in Advance 1,417 -
Other debtors 481 -
17,084 -
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 157 496
Amounts owed to group undertakings and undertakings in which the company has a participating interest - 1,739
Taxation and social security costs 8,328 9,697
Other creditors 43,697 25,127
52,182 37,059
7 Creditors: amounts falling due after one year 2023 2022
£ £
Director's account due after one year - 50,000
8 Related party transactions
Suffolk Digital Ltd
The Managing Director of Suffolk Digital Ltd, Stuart Wade, is the son of company director, David Wade. During the year, David Wade Limited used services totalling £8,715.96 (2021: £8,062) from Suffolk Digital Ltd and rented office space from the company which were at an arms length market value £2,160 (2022: £2,160). As at 31st December 2023, £NIL (2022: £NIL) monies were owed to Suffolk Digital Ltd.
Countryman Leisure Ltd
Countryman Leisure Limited is a wholly owned subsidiary of David Wade Limited. As at the 31st December 2023, David Wade Limited owed Countryman Leisure Limited £NIL. As at the 31st December 2023, Countryman Leisure Limited owed David Wade Limited £NIL.

Countryman Leisure Limited was dissolved on the 26th September 2023, prior to closure a dividend declaration was made from Countryman Leisure Limited to David Wade Limited.
9 Transactions with directors
During the year, Mr David Wade used a current account with the company to record amounts due to him and amounts drawn by him. The amount owed to Mr David Wade and included in other creditors as at 31st December 2023 was £41,124.46 (2022: £73,927.56 ). The amount is repayable on demand and does not carry interest.
9 Controlling party
Mr David Wade is the sole director and owns 95% of the share capital. Therefore, Mr David Wade is the company's ultimate controlling party.
10 Other information
David Wade Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:
The Old Bank
Beaufort Street
Crickhowell
Powys
NP8 1AD
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