THE WIZARD'S WAND LIMITED

Company Registration Number:
08823849 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 01 January 2023

End date: 31 December 2023

THE WIZARD'S WAND LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2023

Company Information - 3
Report of the Directors - 4
Profit and Loss Account - 5
Balance sheet - 6
Additional notes - 8
Balance sheet notes - 11

THE WIZARD'S WAND LIMITED

Company Information

for the Period Ended 31 December 2023




Director: Nimalendiran Kailasanathan
Secretary: Niels Eric Werner
Registered office: First Floor
Great Portland Street 85
London
England
W1W 7LT
Company Registration Number: 08823849 (England and Wales)

THE WIZARD'S WAND LIMITED

Directors' Report Period Ended 31 December 2023

The directors present their report with the financial statements of the company for the period ended 31 December 2023

Principal Activities

Web-design and software development.

Company policy on the employment of disabled persons

The company presently has no employees. However, it is the policy of the company to be an equal opportunity employer and to encourage disabled persons to seek employment with our company.

Directors

The directors shown below have held office during the whole of the period from 01 January 2023 to 31 December 2023
Nimalendiran Kailasanathan

Secretary
Niels Eric Werner

This report was approved by the board of directors on 24 September 2024
And Signed On Behalf Of The Board By:

Name: Nimalendiran Kailasanathan
Status: Director

THE WIZARD'S WAND LIMITED

Profit and Loss Account

for the Period Ended 31 December 2023


Notes

2023
£

2022
£
Turnover - 0
Cost of sales ( 22 ) ( 16 )
Gross Profit or (Loss) ( 22 ) ( 16 )
Administrative Expenses ( 7,615 ) ( 1,737 )
Other operating income - 1,068
Operating Profit or (Loss) ( 7,637 ) ( 685 )
Profit or (Loss) Before Tax ( 7,637 ) ( 685 )
Tax on Profit 1,451 130
Profit or (Loss) for Period ( 6,186 ) ( 555 )

The notes form part of these financial statements

THE WIZARD'S WAND LIMITED

Balance sheet

As at 31 December 2023


Notes

2023
£

2022
£
Fixed assets
Tangible assets: 4 6 21
Total fixed assets: 6 21
Current assets
Debtors: 5 5,325 4,843
Cash at bank and in hand: 12,673 21,954
Total current assets: 17,998 26,797
Prepayments and accrued income: 288 529
Creditors: amounts falling due within one year: 6 ( 8 ) ( 6 )
Net current assets (liabilities): 18,278 27,320
Total assets less current liabilities: 18,284 27,341
Total net assets (liabilities): 18,284 27,341

The notes form part of these financial statements

THE WIZARD'S WAND LIMITED

Balance sheet continued

As at 31 December 2023


Notes

2023
£

2022
£
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 18,184 27,241
Shareholders funds: 18,284 27,341

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 24 September 2024
And Signed On Behalf Of The Board By:

Name: Nimalendiran Kailasanathan
Status: Director

The notes form part of these financial statements

THE WIZARD'S WAND LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    The turnover shown in the profit and loss account represents revenue recognized by the company in respect of goods and services supplied during the period, exclusive of Value Added Tax and trade discounts.

    Tangible fixed assets depreciation policy

    Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life. Freehold buildings - 2% on cost or revalued amounts, Plant and Machinery - 15% on cost, Fixtures and fittings - 10% on cost, Motor vehicles - 25% on cost.

    Intangible fixed assets amortisation policy

    Intangible fixed assets (including purchased goodwill and patents) are amortized at rates calculated to write off the assets on a straight basis over their estimated useful economic lives, not to exceed twenty years. Impairment of tangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.

    Valuation information and policy

    Stocks and work-in-progress are valued at the lower of cost and net realizable value, after making due allowances for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate portion of fixed and variable overheads.

    Other accounting policies

    Assets obtained under hire purchase contracts or finance leases are capitalized in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability. Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of these leases. Research and Development Expenditure on research and development is written off in the year in which it is incurred. Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. Deferred taxation is calculated at the rates of tax that are expected to apply in the periods when the timing differences will reverse and has not been discounted.

THE WIZARD'S WAND LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees


    2023

    2022
    Average number of employees during the period 0 0

THE WIZARD'S WAND LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 3. Off balance sheet disclosure

    No

THE WIZARD'S WAND LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Tangible assets

Office equipment Total
Cost £ £
At 01 January 2023 1,553 1,553
Additions - -
Disposals - -
Revaluations - -
Transfers - -
At 31 December 2023 1,553 1,553
Depreciation
At 01 January 2023 1,532 1,532
Charge for year 15 15
On disposals - -
Other adjustments - -
At 31 December 2023 1,547 1,547
Net book value
At 31 December 2023 6 6
At 31 December 2022 21 21

Computer Software - 3 year straight line amortisation.

THE WIZARD'S WAND LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Debtors


2023
£

2022
£
Trade debtors 5,325 4,843
Total 5,325 4,843

THE WIZARD'S WAND LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

6.Creditors: amounts falling due within one year note


2023
£

2022
£
Other creditors 8 6
Total 8 6