Company Registration No. 11320981 (England and Wales)
Weardale Corporation Uk Limited
Unaudited accounts
for the year ended 31 March 2024
Weardale Corporation Uk Limited
Unaudited accounts
Contents
Weardale Corporation Uk Limited
Company Information
for the year ended 31 March 2024
Directors
M H Ibrahim
A R Ibrahim
R A Sattar
Company Number
11320981 (England and Wales)
Registered Office
248 Worple Road
London
London
SW20 8RH
England
Weardale Corporation Uk Limited
Statement of financial position
as at 31 March 2024
Inventories
1,159,102
1,140,837
Creditors: amounts falling due within one year
(5,095)
(4,154)
Net current assets
1,154,537
1,137,186
Total assets less current liabilities
1,154,537
1,137,186
Creditors: amounts falling due after more than one year
(1,123,394)
(1,124,891)
Called up share capital
3
3
Profit and loss account
31,140
12,292
Shareholders' funds
31,143
12,295
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 8 October 2024 and were signed on its behalf by
A R Ibrahim
Director
Company Registration No. 11320981
Weardale Corporation Uk Limited
Notes to the Accounts
for the year ended 31 March 2024
Weardale Corporation Uk Limited is a private company, limited by shares, registered in England and Wales, registration number 11320981. The registered office is 248 Worple Road, London, London, SW20 8RH, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Turnover relates to income receivable from letting commercial and residential property and proceeds on sale of residential property developments
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Amounts falling due within one year
Weardale Corporation Uk Limited
Notes to the Accounts
for the year ended 31 March 2024
5
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
5,095
2,654
6
Creditors: amounts falling due after more than one year
2024
2023
Other creditors
1,123,394
1,124,891
7
Transactions with related parties
Other creditors falling due after more than one year include a loan from Weardale Corporation of £1,123,394 (2023 -£1,124,891). The beneficial shareholders and directors have a 100% interest in the company. The loan is interest-free and has no formal repayment terms
8
Average number of employees
During the year the average number of employees was 3 (2023: 3).