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Registration number: 05711566

WBIC Developments Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

WBIC Developments Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

WBIC Developments Ltd

(Registration number: 05711566)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

-

576

Current assets

 

Debtors

5

26,375

31,651

Cash at bank and in hand

 

142

52

 

26,517

31,703

Creditors: Amounts falling due within one year

6

(9,894)

(13,019)

Net current assets

 

16,623

18,684

Total assets less current liabilities

 

16,623

19,260

Creditors: Amounts falling due after more than one year

6

(17,191)

(19,160)

Net (liabilities)/assets

 

(568)

100

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(668)

-

Shareholders' (deficit)/funds

 

(568)

100

For the financial year ending 30 April 2024 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 21 October 2024
 

.........................................
Mr R P E Phillips
Director

 

WBIC Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

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

The address of its registered office is:
Flat Post Office
Abbotts Ann
Andover
Hampshire
SP11 7AZ

The presentation currency of the financial statements is the pound sterling (£). The financial statements are rounded to the nearest pound.

These financial statements were authorised for issue by the director on 21 October 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.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Going concern

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

Revenue recognition

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts and Value Added Tax.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

WBIC Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Asset class

Depreciation method and rate

Plant and Machinery

33% on cost & 25% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stocks.

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.

Financial instruments

Basic financial instruments are recognised at amortised cost using the effective interest method. The company had no advanced financial instruments.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

 

WBIC Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2023

2,429

2,429

Disposals

(128)

(128)

At 30 April 2024

2,301

2,301

Depreciation

At 1 May 2023

1,853

1,853

Charge for the year

577

577

Eliminated on disposal

(129)

(129)

At 30 April 2024

2,301

2,301

Carrying amount

At 30 April 2024

-

-

At 30 April 2023

576

576

5

Debtors

Note

2024
£

2023
£

Amounts owed by group undertakings and undertakings in which the company has a participating interest

26,375

31,597

Other debtors

 

-

54

 

26,375

31,651

 

WBIC Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

9,196

9,196

Trade creditors

 

-

3,823

Taxation and social security

 

618

-

Other creditors

 

80

-

 

9,894

13,019

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

17,191

19,160

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

17,191

19,160

Current loans and borrowings

2024
£

2023
£

Bank borrowings

9,196

9,196

8

Parent and ultimate parent undertaking

The company's immediate parent is WBIC Estates Limited, incorporated in England and Wales. The principal place of business of the company and its registered office is Flat Post Office, Abbotts Ann, Andover, Hampshire, SP11 7AZ.