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Registered Number: 05688457
England and Wales

 

 

 

WANSTEAD INVESTMENTS LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 February 2023

End date: 31 January 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 198,000    198,000 
198,000    198,000 
Current assets      
Cash at bank and in hand 20,941    38,849 
Creditors: amount falling due within one year 4 (2,430)   (1,890)
Net current assets 18,511    36,959 
 
Total assets less current liabilities 216,511    234,959 
Creditors: amount falling due after more than one year 5 (231,711)   (235,959)
Net assets (15,200)   (1,000)
 

Capital and reserves
     
Called up share capital 6 50    50 
Profit and loss account (15,250)   (1,050)
Shareholders' funds (15,200)   (1,000)
 


For the year ended 31 January 2024 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 31 October 2024 and were signed by:


-------------------------------
Karisma Patel
Director
1
General Information
WANSTEAD INVESTMENTS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 05688457, registration address 10 Cameron Road , Ilford, Greater London, IG3 8LA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the balance sheet when their payment has been approved by the shareholders prior to the balance sheet date.
Investment properties
Investment properties are included in the balance sheet at their open market value at the balance sheet date. The resulting aggregate surplus or deficit is transferred to a revaluation reserve. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the balance sheet to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
2.

Average number of employees

Average number of employees during the year was 0 (2023 : 0).
3.

Tangible fixed assets

Cost or valuation Investment properties   Total
  £   £
At 01 February 2023 198,000    198,000 
Additions  
Disposals  
At 31 January 2024 198,000    198,000 
Depreciation
At 01 February 2023  
Charge for year  
On disposals  
At 31 January 2024  
Net book values
Closing balance as at 31 January 2024 198,000    198,000 
Opening balance as at 01 February 2023 198,000    198,000 


4.

Creditors: amount falling due within one year

2024
£
  2023
£
Accrued Expenses 2,430    1,890 
2,430    1,890 

5.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts (secured) 190,327    190,327 
Bank Loans & Overdrafts 20,717    31,365 
Directors' Loan Accounts 20,667    14,267 
231,711    235,959 

6.

Share Capital

Authorised
50 Class A shares of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
50 Class A shares of £1.00 each 50    50 
50    50 

2