2023-01-012023-12-312023-12-31false1173956342WM LTD2024-09-12iso4217:GBPxbrli:pure117395632023-01-01117395632023-12-31117395632023-01-012023-12-31117395632022-01-01117395632022-12-31117395632022-01-012022-12-3111739563bus:SmallEntities2023-01-012023-12-3111739563bus:AuditExempt-NoAccountantsReport2023-01-012023-12-3111739563bus:AbridgedAccounts2023-01-012023-12-3111739563bus:PrivateLimitedCompanyLtd2023-01-012023-12-3111739563core:WithinOneYear2023-12-3111739563core:AfterOneYear2023-12-3111739563core:WithinOneYear2022-12-3111739563core:AfterOneYear2022-12-3111739563core:ShareCapital2023-12-3111739563core:SharePremium2023-12-3111739563core:RevaluationReserve2023-12-3111739563core:OtherReservesSubtotal2023-12-3111739563core:RetainedEarningsAccumulatedLosses2023-12-3111739563core:ShareCapital2022-12-3111739563core:SharePremium2022-12-3111739563core:RevaluationReserve2022-12-3111739563core:OtherReservesSubtotal2022-12-3111739563core:RetainedEarningsAccumulatedLosses2022-12-3111739563core:LandBuildings2023-12-3111739563core:PlantMachinery2023-12-3111739563core:Vehicles2023-12-3111739563core:FurnitureFittings2023-12-3111739563core:OfficeEquipment2023-12-3111739563core:NetGoodwill2023-12-3111739563core:IntangibleAssetsOtherThanGoodwill2023-12-3111739563core:ListedExchangeTraded2023-12-3111739563core:UnlistedNon-exchangeTraded2023-12-3111739563core:LandBuildings2022-12-3111739563core:PlantMachinery2022-12-3111739563core:Vehicles2022-12-3111739563core:FurnitureFittings2022-12-3111739563core:OfficeEquipment2022-12-3111739563core:NetGoodwill2022-12-3111739563core:IntangibleAssetsOtherThanGoodwill2022-12-3111739563core:ListedExchangeTraded2022-12-3111739563core:UnlistedNon-exchangeTraded2022-12-3111739563core:LandBuildings2023-01-012023-12-3111739563core:PlantMachinery2023-01-012023-12-3111739563core:Vehicles2023-01-012023-12-3111739563core:FurnitureFittings2023-01-012023-12-3111739563core:OfficeEquipment2023-01-012023-12-3111739563core:NetGoodwill2023-01-012023-12-3111739563core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3111739563core:ListedExchangeTraded2023-01-012023-12-3111739563core:UnlistedNon-exchangeTraded2023-01-012023-12-3111739563core:MoreThanFiveYears2023-01-012023-12-3111739563core:Non-currentFinancialInstruments2023-12-3111739563core:Non-currentFinancialInstruments2022-12-3111739563dpl:CostSales2023-01-012023-12-3111739563dpl:DistributionCosts2023-01-012023-12-3111739563core:LandBuildings2023-01-012023-12-3111739563core:PlantMachinery2023-01-012023-12-3111739563core:Vehicles2023-01-012023-12-3111739563core:FurnitureFittings2023-01-012023-12-3111739563core:OfficeEquipment2023-01-012023-12-3111739563dpl:AdministrativeExpenses2023-01-012023-12-3111739563core:NetGoodwill2023-01-012023-12-3111739563core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3111739563dpl:GroupUndertakings2023-01-012023-12-3111739563dpl:ParticipatingInterests2023-01-012023-12-3111739563dpl:GroupUndertakingscore:ListedExchangeTraded2023-01-012023-12-3111739563core:ListedExchangeTraded2023-01-012023-12-3111739563dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-01-012023-12-3111739563core:UnlistedNon-exchangeTraded2023-01-012023-12-3111739563dpl:CostSales2022-01-012022-12-3111739563dpl:DistributionCosts2022-01-012022-12-3111739563core:LandBuildings2022-01-012022-12-3111739563core:PlantMachinery2022-01-012022-12-3111739563core:Vehicles2022-01-012022-12-3111739563core:FurnitureFittings2022-01-012022-12-3111739563core:OfficeEquipment2022-01-012022-12-3111739563dpl:AdministrativeExpenses2022-01-012022-12-3111739563core:NetGoodwill2022-01-012022-12-3111739563core:IntangibleAssetsOtherThanGoodwill2022-01-012022-12-3111739563dpl:GroupUndertakings2022-01-012022-12-3111739563dpl:ParticipatingInterests2022-01-012022-12-3111739563dpl:GroupUndertakingscore:ListedExchangeTraded2022-01-012022-12-3111739563core:ListedExchangeTraded2022-01-012022-12-3111739563dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-01-012022-12-3111739563core:UnlistedNon-exchangeTraded2022-01-012022-12-3111739563core:NetGoodwill2023-12-3111739563core:IntangibleAssetsOtherThanGoodwill2023-12-3111739563core:LandBuildings2023-12-3111739563core:PlantMachinery2023-12-3111739563core:Vehicles2023-12-3111739563core:FurnitureFittings2023-12-3111739563core:OfficeEquipment2023-12-3111739563core:AfterOneYear2023-12-3111739563core:WithinOneYear2023-12-3111739563core:ListedExchangeTraded2023-12-3111739563core:UnlistedNon-exchangeTraded2023-12-3111739563core:ShareCapital2023-12-3111739563core:SharePremium2023-12-3111739563core:RevaluationReserve2023-12-3111739563core:OtherReservesSubtotal2023-12-3111739563core:RetainedEarningsAccumulatedLosses2023-12-3111739563core:NetGoodwill2022-12-3111739563core:IntangibleAssetsOtherThanGoodwill2022-12-3111739563core:LandBuildings2022-12-3111739563core:PlantMachinery2022-12-3111739563core:Vehicles2022-12-3111739563core:FurnitureFittings2022-12-3111739563core:OfficeEquipment2022-12-3111739563core:AfterOneYear2022-12-3111739563core:WithinOneYear2022-12-3111739563core:ListedExch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42WM LTD

Registered Number
11739563
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

42WM LTD
Company Information
for the year from 1 January 2023 to 31 December 2023

Director

MISTRY, Tejas

Registered Address

40 William Mews
London
SW1X 9HQ

Registered Number

11739563 (England and Wales)
42WM LTD
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets3408480
Investments42,154,5622,154,562
2,154,9702,155,042
Current assets
Cash at bank and on hand89,88178,083
89,88178,083
Creditors amounts falling due within one year5(68,858)(51,738)
Net current assets (liabilities)21,02326,345
Total assets less current liabilities2,175,9932,181,387
Creditors amounts falling due after one year6(2,311,734)(2,299,494)
Net assets(135,741)(118,107)
Capital and reserves
Called up share capital100100
Profit and loss account(135,841)(118,207)
Shareholders' funds(135,741)(118,107)
The financial statements were approved and authorised for issue by the Board of Directors on 12 September 2024, and are signed on its behalf by:
MISTRY, Tejas
Director
Registered Company No. 11739563
42WM LTD
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
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.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Fixtures and fittings15
Investments
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss account.
2.Average number of employees

20232022
Average number of employees during the year22
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 January 23665
At 31 December 23665
Depreciation and impairment
At 01 January 23185
Charge for year72
At 31 December 23257
Net book value
At 31 December 23408
At 31 December 22480
4.Fixed asset investments

Total

£
Cost or valuation
At 01 January 232,154,562
At 31 December 232,154,562
Net book value
At 31 December 232,154,562
At 31 December 222,154,562
5.Creditors: amounts due within one year

2023

2022

££
Bank borrowings and overdrafts1,0371,037
Amounts owed to related parties67,34750,347
Accrued liabilities and deferred income474354
Total68,85851,738
6.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts1,918,8911,919,855
Amounts owed to related parties392,843379,639
Total2,311,7342,299,494
7.Secured creditors
Bank borrowings and overdrafts includes Bank loans of £1,919,928 (2022: 1,920,891). Bank loans are secured by way of legal charge over the company's Investment property and £61,000 in cash at bank as interest cover.
8.Provisions for liabilities
TAXATION - Analysis of the tax charge No liability to UK corporation tax arose for the year ended 31 December 2023 nor for the year ended 31 December 2022.
9.Share capital
100 Ordinary Shares Allotted, issued and fully paid with nominal value of £1 each.
10.Related party transactions
As at the balance sheet date the company owed 2023: £392,843 (2022: £379,640) to the shareholders of the company. The loan is interest free and repayable on demand. As at 31 December 2023 the company owed £34,847 (2022: £27,847) to Foldbond Limited, £22,500 (2022: £22,500) to Commoditree Limited and £10,000 (2022: £Nil) to Speckle Properties Limited 42WM Ltd, Speckle Properties Limited, Foldbond Limited and Commoditree Limited are connected companies by virtue of having common directors.