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REGISTERED NUMBER: 05337106 (England and Wales)
















Financial Statements

for the Year Ended 31 December 2023

for

WAP Ltd

WAP Ltd (Registered number: 05337106)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Report of the Accountants 2

Balance Sheet 3

Notes to the Financial Statements 5


WAP Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTOR: I M Whistondale





REGISTERED OFFICE: 42 Eaton Square
London
SW1W 9BD





REGISTERED NUMBER: 05337106 (England and Wales)





ACCOUNTANTS: GCSD Accountants Limited
701 Stonehouse Park
Sperry Way
Stonehouse
Gloucestershire
GL10 3UT

WAP Ltd

Report of the Accountants to the Director of
WAP Ltd


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements and state those matters that we have agreed to state to the Board of Directors, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that the Company has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit. You consider that the Company is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of the Company. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






GCSD Accountants Limited


17 September 2024

WAP Ltd (Registered number: 05337106)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 545,360 974,681

CURRENT ASSETS
Debtors 5 9,803 -
Investments 6 1,200,000 -
Cash at bank 177,461 1,249,974
1,387,264 1,249,974
CREDITORS
Amounts falling due within one year 7 28,702 14,335
NET CURRENT ASSETS 1,358,562 1,235,639
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,903,922

2,210,320

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Share premium 1,998,000 1,998,000
Retained earnings (104,078 ) 202,320
1,903,922 2,210,320

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

WAP Ltd (Registered number: 05337106)

Balance Sheet - continued
31 December 2023


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 September 2024 and were signed by:





I M Whistondale - Director


WAP Ltd (Registered number: 05337106)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

WAP Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Fixed asset investments
Fixed asset investments are included at fair value with gains and losses recognised in the profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. FIXED ASSET INVESTMENTS

2023 2022
£    £   
Shares in group undertakings 205,360 -
Other investments not loans 340,000 974,681
545,360 974,681

WAP Ltd (Registered number: 05337106)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


4. FIXED ASSET INVESTMENTS - continued

Additional information is as follows:
Shares in
group Other
undertakings investments Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 - 659,382 659,382
Additions 205,360 86,242 291,602
Disposals - (75,375 ) (75,375 )
Impairments - (398,891 ) (398,891 )
At 31 December 2023 205,360 271,358 476,718
NET BOOK VALUE
At 31 December 2023 205,360 271,358 476,718
At 31 December 2022 - 659,382 659,382

Cost or valuation at 31 December 2023 is represented by:

Shares in
group Other
undertakings investments Totals
£    £    £   
Valuation in 2017 - (75,205 ) (75,205 )
Valuation in 2018 - (79,531 ) (79,531 )
Valuation in 2019 - (111,964 ) (111,964 )
Valuation in 2020 - (15,631 ) (15,631 )
Valuation in 2021 - (13,148 ) (13,148 )
Valuation in 2022 - (8,434 ) (8,434 )
Valuation in 2023 - (366,740 ) (366,740 )
Cost 205,360 942,011 1,147,371
205,360 271,358 476,718

Investments (neither listed nor unlisted) were as follows:
2023 2022
£    £   
Vintage motorbike investment 68,642 57,500
Classic car investment - 205,360
Convertible loan notes - 52,439
68,642 315,299

WAP Ltd (Registered number: 05337106)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 9,803 -

6. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Money Market - Fixed rate
deposit 1,200,000 -
1,200,000 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 14,455 -
Other creditors 14,247 14,335
28,702 14,335