Company Registration No. 13653378 (England and Wales)
Wingfield International Limited
Unaudited financial statements
For the year ended 31 December 2023
Pages for filing with registrar
WINGFIELD INTERNATIONAL LIMITED
Wingfield International Limited
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
WINGFIELD INTERNATIONAL LIMITED
Wingfield International Limited
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
6,824
12,141
Current assets
Debtors
4
15,385
Cash at bank and in hand
26,835
6,814
26,835
22,199
Creditors: amounts falling due within one year
5
(47,107)
(37,450)
Net current liabilities
(20,272)
(15,251)
Net liabilities
(13,448)
(3,110)
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
(13,548)
(3,210)
Total equity
(13,448)
(3,110)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 4 October 2024 and are signed on its behalf by:
M Burlage
Director
Company Registration No. 13653378
WINGFIELD INTERNATIONAL LIMITED
Wingfield International Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information
Wingfield International Limited is a private company limited by shares incorporated in England and Wales. The registered office is 55 Loudoun Road, St John's Wood, London NW8 0DL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The company recorded a loss of £10,338 (2022: £394 for the period) for the year and had net liabilities of £13,448 (2022: £3,110). The company continues to meet its day to day working capital requirements through an intercompany loan of £29,856 (2022: £22,921). The directors are satisfied that they can continue to finance the business in this manner. Accordingly, the directors consider it appropriate to prepare these financial statements on a going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of this support.
1.3
Turnover
Turnover represents the value of services provided by the company net of value added tax.
1.4
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Licences
33.3 % straight line
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, and deposits held at call with banks.
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
WINGFIELD INTERNATIONAL LIMITED
Wingfield International Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
3
Intangible fixed assets
Licences
£
Cost
At 1 January 2023 and 31 December 2023
15,952
Amortisation and impairment
At 1 January 2023
3,811
Amortisation charged for the year
5,317
At 31 December 2023
9,128
Carrying amount
At 31 December 2023
6,824
At 31 December 2022
12,141
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
14,332
Other debtors
1,053
15,385
WINGFIELD INTERNATIONAL LIMITED
Wingfield International Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
29,856
22,921
Taxation
449
Other creditors
16,802
14,529
47,107
37,450
6
Called up share capital
2023
2022
Ordinary share capital
£
£
Issued and fully paid
100 Ordinary Shares of £1 each
100
100
7
Parent company
The immediate parent company is Wingfield GmbH whose address is Carl-Miller-Str. 6, 39112 Magdeburg, Germany.