Company registration number 10878797 (England and Wales)
WINX INVESTMENTS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
WINX INVESTMENTS LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
WINX INVESTMENTS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
4
1
1
Cash at banks
248
214
249
215
Creditors: amounts falling due within one year
5
(1,502)
(1,000)
Net current liabilities
(1,253)
(785)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(1,254)
(786)
Total equity
(1,253)
(785)

The notes on pages 2 to 4 form part of these financial statements.

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements have been prepared in accordance with the provisions applicable to companies subject to

the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements were approved by the board of directors and authorised for issue on 19 September 2024 and are signed on its behalf by:
Mr Z Al-Najafi
Director
Company Registration No. 10878797
WINX INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Winx Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6 Blenheim Terrace, Leeds, United Kingdom LS2 9HZ.

1.1
Accounting convention
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The presentation currency is pounds sterling (GBP) and all amounts in these financial statements have been rounded to the nearest pound.
The following principal accounting policies have been applied:
1.2
Going concern

The company made a loss after tax for the year of £468 (2022: £383) and has net liabilities of £1,253 (2022: £785). The Directors have made an assessment of the company's ability to continue as a going concern for the foreseeable future. The company has obtained a letter of support from the parent company for the provision of financial support. The Directors have also considered the group profit after tax for the year of £3,950,885 (2022: £2,425,366) and net assets of £6,850,817 (2022: £3,853,125).true

 

The company has undertaken a going concern assessment considering the principal risks and current and projected financial position over the going concern period of 12 months from the date of sign-off. The Directors are therefore able to conclude that they have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the next 12 months and have accordingly prepared the financial statements on the going concern basis.

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.

1.3
Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

1.4

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

1.5

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

1.6

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final Equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

WINX INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
2
Judgements and key sources of estimation uncertainty

In preparing theses financial statements, the Directors have not had to make any significant judgements. The Directors consider there to be no key sources of estimation uncertainty.

3
Employees

The average monthly number of persons (excluding directors) employed by the company during the year was:

2023
2022
Number
Number
Total
-
0
-
0

The emoluments of the Directors are paid by a fellow group undertaking, which makes no recharge to the Company. They are Directors of a number of fellow subsidiaries and it is not possible to make an accurate appointment of their emoluments in respect of each of the subsidiaries.

 

The directors' are considered to be key management personnel.

4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
1
1
5
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
1,502
1,000
Amounts owed to Group undertakings are unsecured, repayable on demand and interest free.
6
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

The Senior Statutory Auditor was Hamid Ghafoor.
The auditor was BDO LLP.
WINX INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
7
Related party transactions

As 100% of the voting rights of the Company are controlled within the group headed by YPP Holdings Limited the Company has taken advantage of the exemption contained in section 1AC.35 of FRS 102 and has therefore not disclosed transactions or balances with entities which form part of the Group.

8
Parent company

The immediate parent undertaking is YPP Holdings Limited, a company registered in England and Wales. The registered office of YPP Holdings Limited is 6 Blenheim Terrace, Leeds, West Yorkshire, LS2 9HZ. The group in which the results are consolidated is that headed by YPP Holdings Limited. Copies of the YPP Holdings Limited consolidated financial statements can be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.

 

The ultimate controlling party of YPP Holdings Limited is the Al Najafi family.

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