0 false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2021 - FRS102_2021 265,375 265,375 265,375 1 1 1 xbrli:pure xbrli:shares iso4217:GBP 04129187 2023-01-01 2023-12-31 04129187 2023-12-31 04129187 2022-12-31 04129187 bus:Director2 2023-01-01 2023-12-31 04129187 bus:Director3 2023-01-01 2023-12-31 04129187 core:WithinOneYear 2023-12-31 04129187 core:WithinOneYear 2022-12-31 04129187 core:ShareCapital 2023-12-31 04129187 core:ShareCapital 2022-12-31 04129187 core:CapitalRedemptionReserve 2023-12-31 04129187 core:CapitalRedemptionReserve 2022-12-31 04129187 core:RetainedEarningsAccumulatedLosses 2023-12-31 04129187 core:RetainedEarningsAccumulatedLosses 2022-12-31 04129187 core:CostValuation core:Non-currentFinancialInstruments 2023-12-31 04129187 core:Non-currentFinancialInstruments 2023-12-31 04129187 core:Non-currentFinancialInstruments 2022-12-31 04129187 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 04129187 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 04129187 bus:SmallEntities 2023-01-01 2023-12-31 04129187 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 04129187 bus:FullAccounts 2023-01-01 2023-12-31 04129187 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04129187 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 04129187
Wright Design Holdings Limited
Filleted Unaudited Financial Statements
For the year ended
31 December 2023
Wright Design Holdings Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
5
265,375
265,375
Investments
6
1
1
---------
---------
265,376
265,376
Current assets
Debtors
7
129,899
Cash at bank and in hand
300,000
514,801
---------
---------
429,899
514,801
Creditors: amounts falling due within one year
8
5,020
84,554
---------
---------
Net current assets
424,879
430,247
---------
---------
Total assets less current liabilities
690,255
695,623
---------
---------
Net assets
690,255
695,623
---------
---------
Capital and reserves
Called up share capital
558
558
Capital redemption reserve
362
362
Profit and loss account
689,335
694,703
---------
---------
Shareholders funds
690,255
695,623
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Wright Design Holdings Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 29 April 2024 , and are signed on behalf of the board by:
Mr M Wright
Mr D A Walton
Director
Director
Company registration number: 04129187
Wright Design Holdings Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 7 Wellington Court, Wellington Street, Cambridge, CB1 1HZ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Depreciation Depreciation is charged on freehold property at 0%. Freehold land is not depreciated. The directors have considered the useful economic life and residual value of the property and deem that a rate of 0% is appropriate.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2022: Nil).
5. Tangible assets
Freehold property
£
Cost
At 1 January 2023 and 31 December 2023
265,375
---------
Depreciation
At 1 January 2023 and 31 December 2023
---------
Carrying amount
At 31 December 2023
265,375
---------
At 31 December 2022
265,375
---------
6. Investments
Shares in group undertakings
£
Cost
At 1 January 2023 and 31 December 2023
1
----
Impairment
At 1 January 2023 and 31 December 2023
----
Carrying amount
At 31 December 2023
1
----
At 31 December 2022
1
----
7. Debtors
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
101,036
Other debtors
28,863
---------
----
129,899
---------
----
8. Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
58,854
Social security and other taxes
6,662
Other creditors
5,020
19,038
-------
--------
5,020
84,554
-------
--------
9. Directors' advances, credits and guarantees
During the current year the company operated a loan account on behalf of one of the directors. Interest was charged at the HMRC official rate on overdrawn balances. There are no fixed repayment terms.
2023 2022
£ £
Advances 30,048
Repayments 2,576
Balance 27,472