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Registered number: 01916245
Wagonmark Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Arete Capital Limited
Chartered Accountants
5 Merchant Square
1st Floor
London
W2 1AY
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—8
Page 1
Statement of Financial Position
Registered number: 01916245
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 297,297 299,102
Investment Properties 5 6,026,566 6,026,566
6,323,863 6,325,668
CURRENT ASSETS
Debtors 6 2,428,886 2,337,400
Cash at bank and in hand 521,131 409,854
2,950,017 2,747,254
Creditors: Amounts Falling Due Within One Year 7 (2,102,030 ) (3,892,708 )
NET CURRENT ASSETS (LIABILITIES) 847,987 (1,145,454 )
TOTAL ASSETS LESS CURRENT LIABILITIES 7,171,850 5,180,214
Creditors: Amounts Falling Due After More Than One Year 8 (1,832,993 ) -
PROVISIONS FOR LIABILITIES
Deferred Taxation 10 (668,653 ) (668,653 )
NET ASSETS 4,670,204 4,511,561
CAPITAL AND RESERVES
Called up share capital 11 400,000 400,000
Other reserves 3,057,586 3,057,586
Income Statement 1,212,618 1,053,975
SHAREHOLDERS' FUNDS 4,670,204 4,511,561
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr Ehoud Zaidman
Director
12 November 2024
The notes on pages 3 to 8 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Wagonmark Limited Registered number 01916245 is a limited by shares company incorporated in England & Wales. The Registered Office is 167-169 Great Portland Street, London, W1W 5PF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention as modified to include the revaluation of freehold properties and certain financial instruments at fair value, in accordance with FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Fixed asset investments
lnterests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits fiom its activities.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2.2. Turnover
Turnover comprises the invoiced value of rent receivable and services supplied by the company, net of Value Added Tax and discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% per annum on cost
Plant & Machinery 20% per annum on the reducing balance
Motor Vehicles 20% per annum on the reducing balance
Fixtures & Fittings 20% per annum on the reducing balance
Computer Equipment 20% per annum on the reducing balance
lmpairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. lf any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

...CONTINUED
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2.3. Tangible Fixed Assets and Depreciation - continued
Recoverable amount is he higher of fair value less costs to sell and value in use. ln assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is canied at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the income statement.
2.5. Financial Instruments
The company has elected to apply the provisions of Section 11 'Basic Financial lnstruments' and Section 12 'Other Financial lnstruments lssues' 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 ofiset, 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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaclion price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

...CONTINUED
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2.5. Financial Instruments - continued
Basic financial liabiIities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. lf not, they are presented as non-cunent liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.



2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. Taxation
Tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.7. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2.9. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the income statement, directors report, and notes to the financial statements relating to the income statement.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 5 5
5 5
Page 6
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4. Tangible Assets
Land & Property
Freehold Leasehold Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 April 2023 290,050 47,258 9,500 669,944 1,016,752
As at 31 March 2024 290,050 47,258 9,500 669,944 1,016,752
Depreciation
As at 1 April 2023 - 47,258 4,636 665,756 717,650
Provided during the period - - 970 835 1,805
As at 31 March 2024 - 47,258 5,606 666,591 719,455
Net Book Value
As at 31 March 2024 290,050 - 3,894 3,353 297,297
As at 1 April 2023 290,050 - 4,864 4,188 299,102
Investment properties have been valued at the balance sheet date by Mr E Zaidman a Director to open market value.
5. Investment Property
2024
£
Fair Value
As at 1 April 2023 6,564,987
Depreciation and impairment (538,421 )
As at 31 March 2024 6,026,566
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 17,379 4,790
Prepayments and accrued income 4,446 1,105
Other debtors 2,349,514 2,292,879
Corporation tax recoverable assets 57,547 38,626
2,428,886 2,337,400
Other debtors include amounts owed by the Directors' to the Company of £174,299 (2023: £118,237)
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 38
Bank loans and overdrafts - 1,821,000
Corporation tax 72,506 40,576
Other taxes and social security 1,284 2,295
VAT 7,062 6,795
Other creditors 1,988,118 1,985,225
Accruals and deferred income 33,060 36,779
2,102,030 3,892,708
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 1,832,993 -
9. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts 1,832,993 1,821,000
10. Deferred Taxation
The provision for deferred taxation represents a provision for Corporation tax at 17% on the increase in value when restating investment properties to fair value.
2024 2023
£ £
Other timing differences 668,653 668,653
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 400,000 400,000
12. Ultimate Controlling Party
The company's ultimate controlling parties are Mr E Zaidman and Mrs L Zaidman by virtue of their ownership of 100% of the issued share capital in the company.
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