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Registration number: 12885726

WOL Weddings Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

WOL Weddings Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

WOL Weddings Limited

(Registration number: 12885726)
Balance Sheet as at 31 December 2023

Note

31 December
2023

31 December
2022

Fixed assets

 

Investments

4

1,801,846

408,261

Current assets

 

Debtors

5

110

15,152

Cash at bank and in hand

 

47,280

12,696

 

47,390

27,848

Creditors: Amounts falling due within one year

6

(1,470,395)

(316,798)

Net current liabilities

 

(1,423,005)

(288,950)

Total assets less current liabilities

 

378,841

119,311

Creditors: Amounts falling due after more than one year

6

(118,904)

-

Net assets

 

259,937

119,311

Capital and reserves

 

Called up share capital

110

110

Profit and loss account

259,827

119,201

Total Equity

 

259,937

119,311

 

WOL Weddings Limited

(Registration number: 12885726)
Balance Sheet as at 31 December 2023

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 24 September 2024
 

Mr M Garbers
Director

   
     
 

WOL Weddings Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
78 Dovercourt Road
Bristol
BS7 9SQ

These financial statements were authorised for issue by the director on 24 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been presented in Euro (€) which is also the functional currency of the company.

Going concern

The financial statements have been prepared on a going concern basis.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates abd generates taxable income.

 

WOL Weddings Limited

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

WOL Weddings Limited

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year was 1 (2022 - 1).

4

Investments

31 December
2023

31 December
2022

Investments in subsidiaries

1,801,846

408,261

Subsidiaries

Cost or valuation

At 1 January 2023

408,261

Additions

1,393,585

At 31 December 2023

1,801,846

Provision

Carrying amount

At 31 December 2023

1,801,846

At 31 December 2022

408,261

 

WOL Weddings Limited

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

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

31 December
2023

31 December
2022

Subsidiary undertakings

WeddingsOnline.ie Limited

Swords Business Campus
Balheary Road
Swords
Dublin

Republic of Ireland

Equity shares

100%

100%

Subsidiary undertakings

WeddingsOnline.ie Limited

The principal activity of WeddingsOnline.ie Limited is the provision of online marketing.

5

Debtors

Note

31 December
2023

31 December
2022

Other debtors

 

110

110

Deferred tax assets

-

15,042

 

110

15,152

 

WOL Weddings Limited

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

6

Creditors

Due within one year

Note

31 December
2023

31 December
2022

 

Amounts due to related parties

451,668

164,033

Other creditors

 

1,015,166

150,000

Accruals

 

3,561

2,765

 

1,470,395

316,798

Due after one year

 

Loans and borrowings

7

118,904

-

7

Loans and borrowings

Non-current loans and borrowings

31 December
2023

31 December
2022

Other borrowings

118,904

-

8

Non adjusting events after the financial period

In February 2024, the company contracted to purchase 100% of the share capital of Eventovate Limited for a consideration of €700,000. The consideration for the share purchase is payable over 7 years, with interest payable at 7%.