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Registered Number: 13002689
England and Wales

 

 

 

WG ENTERTAINMENT LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2023

End date: 31 December 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 3,056    3,820 
3,056    3,820 
Current assets      
Cash at bank and in hand 2,492,163    2,095,960 
Creditors: amount falling due within one year 4 (142,871)   (160,419)
Net current assets 2,349,292    1,935,541 
 
Total assets less current liabilities 2,352,348    1,939,361 
Net assets 2,352,348    1,939,361 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 2,352,248    1,939,261 
Shareholders' funds 2,352,348    1,939,361 
 


For the year ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 25 September 2024 and were signed by:


-------------------------------
Phillip Watson
Director
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General Information
WG Entertainment Ltd is a private company, limited by shares, registered in England and Wales, registration number 13002689, registration address 58 Durham Road, Birtley, Dh3 2QJ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Reducing Balance
2.

Average number of employees

Average number of employees during the year was 1 (2022 : 1).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Total
  £   £
At 01 January 2023 5,968    5,968 
Additions  
Disposals  
At 31 December 2023 5,968    5,968 
Depreciation
At 01 January 2023 2,148    2,148 
Charge for year 764    764 
On disposals  
At 31 December 2023 2,912    2,912 
Net book values
Closing balance as at 31 December 2023 3,056    3,056 
Opening balance as at 01 January 2023 3,820    3,820 


4.

Creditors: amount falling due within one year

2023
£
  2022
£
Corporation Tax 142,469    158,791 
PAYE & Social Security   104 
Wages & Salaries Control Account   1,000 
Directors' Current Accounts 402    524 
142,871    160,419 

5.

Directors advances, credits and guarantees

Included in creditors: amounts due within one year, are amounts owed to the Director of £524 (2021 - £412)

6.

Disclosure of Controlling Party

For the whole of the period under review the company was under the control of Phillip Mark Watson, director of the company.

2