IRIS Accounts Production v24.2.0.383 11738359 director 1.5.23 30.4.24 30.4.24 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh117383592023-04-30117383592024-04-30117383592023-05-012024-04-30117383592022-04-30117383592022-05-012023-04-30117383592023-04-3011738359ns15:EnglandWales2023-05-012024-04-3011738359ns14:PoundSterling2023-05-012024-04-3011738359ns10:Director12023-05-012024-04-3011738359ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3011738359ns10:SmallEntities2023-05-012024-04-3011738359ns10:AuditExemptWithAccountantsReport2023-05-012024-04-3011738359ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-3011738359ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-3011738359ns10:FullAccounts2023-05-012024-04-3011738359ns10:CompanySecretary12023-05-012024-04-3011738359ns10:RegisteredOffice2023-05-012024-04-3011738359ns5:CurrentFinancialInstruments2024-04-3011738359ns5:CurrentFinancialInstruments2023-04-3011738359ns5:ShareCapital2024-04-3011738359ns5:ShareCapital2023-04-3011738359ns5:RetainedEarningsAccumulatedLosses2024-04-3011738359ns5:RetainedEarningsAccumulatedLosses2023-04-3011738359ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-04-3011738359ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-04-30
REGISTERED NUMBER: 11738359 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

WAX ART PROPERTIES LIMITED

WAX ART PROPERTIES LIMITED (REGISTERED NUMBER: 11738359)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 6

WAX ART PROPERTIES LIMITED

COMPANY INFORMATION
for the Year Ended 30 April 2024







DIRECTOR: Mr P D Simmons





SECRETARY:





REGISTERED OFFICE: 98 Hornchurch Road
Hornchurch
Essex
RM11 1JS





REGISTERED NUMBER: 11738359 (England and Wales)





ACCOUNTANTS: Stephen Farra Associates Limited
98 Hornchurch Road
Hornchurch
Essex
RM11 1JS

WAX ART PROPERTIES LIMITED (REGISTERED NUMBER: 11738359)

BALANCE SHEET
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,487,967 2,487,967

CURRENT ASSETS
Debtors 5 165,396 187,201
Cash at bank and in hand 404,219 213,186
569,615 400,387
CREDITORS
Amounts falling due within one year 6 2,598,733 2,579,112
NET CURRENT LIABILITIES (2,029,118 ) (2,178,725 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

458,849

309,242

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 458,749 309,142
458,849 309,242

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

WAX ART PROPERTIES LIMITED (REGISTERED NUMBER: 11738359)

BALANCE SHEET - continued
30 April 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 16 October 2024 and were signed by:





Mr P D Simmons - Director


WAX ART PROPERTIES LIMITED (REGISTERED NUMBER: 11738359)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Wax Art Properties Limited 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.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year 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 year 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 AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

WAX ART PROPERTIES LIMITED (REGISTERED NUMBER: 11738359)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 2,487,967
NET BOOK VALUE
At 30 April 2024 2,487,967
At 30 April 2023 2,487,967

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 2,936
Amounts owed by group undertakings 163,282 59,522
Other debtors 2,114 124,743
165,396 187,201

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 60 43
Amounts owed to group undertakings 2,501,000 2,501,000
Taxation and social security 54,537 63,917
Other creditors 43,136 14,152
2,598,733 2,579,112

7. ULTIMATE CONTROLLING PARTY

The controlling party is Wax Art Holdings Ltd.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
WAX ART PROPERTIES LIMITED

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.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Wax Art Properties Limited for the year ended 30 April 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Wax Art Properties Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Wax Art Properties Limited and state those matters that we have agreed to state to the director of Wax Art Properties Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Wax Art Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Wax Art Properties Limited. You consider that Wax Art Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Wax Art Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Stephen Farra Associates Limited
98 Hornchurch Road
Hornchurch
Essex
RM11 1JS


16 October 2024