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REGISTERED NUMBER: 07526816 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

WG Flagship Distribution Limited

WG Flagship Distribution Limited (Registered number: 07526816)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WG Flagship Distribution Limited

Company Information
for the Year Ended 29 February 2024







DIRECTOR: I Garside





REGISTERED OFFICE: Flat 4
102 Tyrwhitt Road
London
SE4 1QB





REGISTERED NUMBER: 07526816 (England and Wales)






WG Flagship Distribution Limited (Registered number: 07526816)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 795 -

CURRENT ASSETS
Stocks - 7,000
Debtors 5 9,254 6,499
Cash at bank 31,015 8,351
40,269 21,850
CREDITORS
Amounts falling due within one year 6 18,700 16,434
NET CURRENT ASSETS 21,569 5,416
TOTAL ASSETS LESS CURRENT
LIABILITIES

22,364

5,416

CREDITORS
Amounts falling due after more than one
year

7

(2,133

)

(3,733

)

PROVISIONS FOR LIABILITIES (199 ) -
NET ASSETS 20,032 1,683

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 20,022 1,673
SHAREHOLDERS' FUNDS 20,032 1,683

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

WG Flagship Distribution Limited (Registered number: 07526816)

Balance Sheet - continued
29 February 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 14 November 2024 and were signed by:





I Garside - Director


WG Flagship Distribution Limited (Registered number: 07526816)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

WG Flagship Distribution 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Stock is valued on a first in first out basis

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 1 (2023 - 1 ) .

WG Flagship Distribution Limited (Registered number: 07526816)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 400
Additions 848
At 29 February 2024 1,248
DEPRECIATION
At 1 March 2023 400
Charge for year 53
At 29 February 2024 453
NET BOOK VALUE
At 29 February 2024 795

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Other debtors 9,254 6,499

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 1,600 1,600
Taxation and social security 15,625 8,709
Other creditors 1,475 6,125
18,700 16,434

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans 2,133 3,733

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

29.2.2428.2.23
£   £   

Balance outstanding at start of year5,6043,280
Amounts advanced47,74343,164
Amounts repaid(43,396)(40,839)
Balance outstanding at end of year7,9525,604

There are no formal repayment terms and no interest has been charged on the overdrawn loan account.