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COMPANY REGISTRATION NUMBER: 14470017
WG Management Limited
Filleted Unaudited Financial Statements
31 October 2023
WG Management Limited
Financial Statements
Period from 8 November 2022 to 31 October 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
WG Management Limited
Statement of Financial Position
31 October 2023
31 Oct 23
Note
£
Current assets
Debtors
5
607,271
Cash at bank and in hand
451,159
------------
1,058,430
Creditors: amounts falling due within one year
6
2,335,849
------------
Net current liabilities
1,277,419
------------
Total assets less current liabilities
( 1,277,419)
------------
Net liabilities
( 1,277,419)
------------
Capital and reserves
Called up share capital
534
Profit and loss account
( 1,277,953)
------------
Shareholders deficit
( 1,277,419)
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 31 October 2024 , and are signed on behalf of the board by:
S C Hill
Director
Company registration number: 14470017
WG Management Limited
Notes to the Financial Statements
Period from 8 November 2022 to 31 October 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Bedford House Fulham Green, 69-79 Fulham High Street, London, SW6 3JW, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors will continue to support the company and believe that the company will generate a profit in future periods therefore the accounts have been prepared on a going concern basis.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 2 .
5. Debtors
31 Oct 23
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
235,487
Other debtors
371,784
---------
607,271
---------
6. Creditors: amounts falling due within one year
31 Oct 23
£
Trade creditors
21,031
Amounts owed to group undertakings and undertakings in which the company has a participating interest
1,636,726
Other creditors
678,092
------------
2,335,849
------------
7. Directors' advances, credits and guarantees
At the period end the a director owed the company £70,354. During the period aggregate advances of £69,999 were made to a director and aggregate repayments of £Nil were made. Interest of £355 was charged on the outstanding balance. At the period end the a director owed the company £43,440. During the period aggregate advances of £43,080 were made to a director and aggregate repayments of £Nil were made. Interest of £360 was charged on the outstanding balance.
8. Related party transactions
At the period end the company was owed £229,735 by companies associated by common control.