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REGISTERED NUMBER: 14636116 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 2ND FEBRUARY 2023 TO 28TH FEBRUARY 2024

FOR

WAGRAIN LTD

WAGRAIN LTD (REGISTERED NUMBER: 14636116)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 2ND FEBRUARY 2023 TO 28TH FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Statement of Director's Responsibilities 6

Independent Chartered Certified Accountants' Review
Report

7


WAGRAIN LTD

COMPANY INFORMATION
FOR THE PERIOD 2ND FEBRUARY 2023 TO 28TH FEBRUARY 2024







DIRECTOR: Ms C Woodward





REGISTERED OFFICE: 63-66 Hatton Gardens
Fifth Floor, Suite 23
London
EC1N 8LE





REGISTERED NUMBER: 14636116 (England and Wales)





ACCOUNTANTS: Brooks & Co
Chartered Accountants & Statutory Auditors
9 Cheam Road
Ewell
Epsom
KT17 1SP

WAGRAIN LTD (REGISTERED NUMBER: 14636116)

BALANCE SHEET
28TH FEBRUARY 2024

Notes £    £   
FIXED ASSETS
Tangible assets 4 1,991,167

CURRENT ASSETS
Cash in hand 1
NET CURRENT ASSETS 1
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,991,168

CREDITORS
Amounts falling due after more than one
year

5

1,991,167
NET ASSETS 1

CAPITAL AND RESERVES
Called up share capital 6 1
SHAREHOLDERS' FUNDS 1

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28th February 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 28th February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

WAGRAIN LTD (REGISTERED NUMBER: 14636116)

BALANCE SHEET - continued
28TH FEBRUARY 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 6th August 2024 and were signed by:





Ms C Woodward - Director


WAGRAIN LTD (REGISTERED NUMBER: 14636116)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 2ND FEBRUARY 2023 TO 28TH FEBRUARY 2024

1. STATUTORY INFORMATION

Wagrain 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.

Tangible fixed assets
Tangible fixed assets are shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit and loss.

Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES

The average number of employees during the period was NIL.

WAGRAIN LTD (REGISTERED NUMBER: 14636116)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 2ND FEBRUARY 2023 TO 28TH FEBRUARY 2024

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
Additions 1,991,167
At 28th February 2024 1,991,167
NET BOOK VALUE
At 28th February 2024 1,991,167

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
£   
Amounts owed to group undertakings 1,991,167

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
1 Ordinary Share 1 1

7. CONTINGENT LIABILITIES

Contingent Liability Related to Debt to Luqa Ltd:
As at 28 February 2024, Wagrain Ltd (the "Subsidiary") of Zante Holdings Ltd, along with other related companies, jointly and severally liable to the debt facility provided by Luqa Ltd. Wagrain Ltd is currently in compliance with all covenants and terms under the facility agreement with Luqa Ltd.

Management's Assessment:
Management have assessed the risk associated with the joint and several liabilities and believe that the likelihood of Wagrain Ltd having to fulfil the entire obligation is low. The financial health and performance of all property companies are monitored regularly to mitigate the risk of default.

Charge:
All property companies in the group, including Wagrain Ltd, are liable for the full facility amount. Luqa Ltd holds a charge over all assets of each group company to cover the debt.

8. ULTIMATE CONTROLLING PARTY

Zante Holdings Ltd is regarded by the director as being the company's ultimate parent company, incorporated in England and Wales.

WAGRAIN LTD (REGISTERED NUMBER: 14636116)

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
FOR THE PERIOD 2ND FEBRUARY 2023 TO 28TH FEBRUARY 2024


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.

The director is responsible for preparing the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless she is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable her to ensure that the financial statements comply with the Companies Act 2006. She is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.







Ms C Woodward - Director

6th August 2024

INDEPENDENT CHARTERED CERTIFIED ACCOUNTANTS' REVIEW REPORT TO THE DIRECTOR OF
WAGRAIN 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.

We have reviewed the financial statements of Wagrain Ltd for the period ended 28th February 2024, which comprise the Income Statement, Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Director's responsibility for the financial statements
As explained more fully in the Statement of Director's Responsibilities set out on page one, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view.

Accountants' responsibility
Our responsibility is to express a conclusion on the financial statements. We conducted our review in accordance with International Standard on Review Engagements (ISRE) 2400 (Revised), 'Engagements to review historical financial statements' and ICAEW Technical Release TECH 09/13AAF (Revised) 'Assurance review engagements on historical financial statements'. ISRE 2400 (Revised) requires us to conclude whether anything has come to our attention that causes us to believe that the financial statements, taken as a whole, are not prepared, in all material respects, in accordance with United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). ISRE 2400 (Revised) also requires us to comply with the ICAEW Code of Ethics and the FRC's Ethical Standard, as applicable.

Scope of the assurance review
A review of financial statements in accordance with ISRE 2400 (Revised) is a limited assurance engagement. We have performed additional procedures, primarily consisting of making enquiries of management and others within the entity, as appropriate, applying analytical procedures and evaluating the evidence obtained. The procedures performed in a review are substantially less than those performed in an audit conducted in accordance with International Standards on Auditing (UK). Accordingly, we do not express an audit opinion on these financial statements.

Conclusion
Based on our review, nothing has come to our attention that causes us to believe that the financial statements have not been prepared:

- so as to give a true and fair view of the state of the company's affairs as at 28th February 2024 and of its profit for the period then ended;
- in accordance with United Kingdom Generally Accepted Accounting Practice; and
- in accordance with the requirements of the Companies Act 2006.

Use of our report
This report is made solely to the company's director in accordance with our terms of engagement. Our review has been undertaken so that we might state to the director those matters that we have agreed with her in a reviewer's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's director for our work, for this report, or for the conclusions we have formed.





INDEPENDENT CHARTERED CERTIFIED ACCOUNTANTS' REVIEW REPORT TO THE DIRECTOR OF
WAGRAIN LTD

Brooks & Co
Chartered Accountants & Statutory Auditors
9 Cheam Road
Ewell
Epsom
KT17 1SP


6th August 2024