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Registered number: 14065569
Win Financial Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 14065569
31 August 2024 31 August 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 624 832
Tangible Assets 5 5,186 2,287
5,810 3,119
CURRENT ASSETS
Debtors 6 19,659 13,451
Cash at bank and in hand 3,905 1,182
23,564 14,633
Creditors: Amounts Falling Due Within One Year 7 (48,205 ) (59,621 )
NET CURRENT ASSETS (LIABILITIES) (24,641 ) (44,988 )
TOTAL ASSETS LESS CURRENT LIABILITIES (18,831 ) (41,869 )
Creditors: Amounts Falling Due After More Than One Year 8 (50,500 ) -
NET LIABILITIES (69,331 ) (41,869 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (69,431 ) (41,969 )
SHAREHOLDERS' FUNDS (69,331) (41,869)
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Page 2
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Profit and Loss Account.
On behalf of the board
Mr David Winchurch
Director
31 October 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Win Financial Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14065569 . The registered office is Unit B Howle Manor Business Park, Howle, Shropshire, TF10 8AY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are website development costs. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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:
Fixtures & Fittings 5 years reducing balance
Computer Equipment 3 years straight line
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Intangible Assets
Other
£
Cost
As at 1 September 2023 1,040
As at 31 August 2024 1,040
Amortisation
As at 1 September 2023 208
Provided during the period 208
As at 31 August 2024 416
...CONTINUED
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Net Book Value
As at 31 August 2024 624
As at 1 September 2023 832
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 September 2023 - 3,431 3,431
Additions 4,581 566 5,147
As at 31 August 2024 4,581 3,997 8,578
Depreciation
As at 1 September 2023 - 1,144 1,144
Provided during the period 916 1,332 2,248
As at 31 August 2024 916 2,476 3,392
Net Book Value
As at 31 August 2024 3,665 1,521 5,186
As at 1 September 2023 - 2,287 2,287
6. Debtors
31 August 2024 31 August 2023
£ £
Due within one year
Trade debtors 713 -
Prepayments and accrued income 18,946 13,451
19,659 13,451
7. Creditors: Amounts Falling Due Within One Year
31 August 2024 31 August 2023
£ £
Trade creditors 5,417 709
Other taxes and social security 6,389 1,749
Other creditors 486 -
Accruals and deferred income 2,453 1,478
Director's loan account - 625
Amounts owed to related parties 33,460 55,060
48,205 59,621
8. Creditors: Amounts Falling Due After More Than One Year
31 August 2024 31 August 2023
£ £
Amounts owed to related parties 50,500 -
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9. Share Capital
31 August 2024 31 August 2023
£ £
Allotted, Called up and fully paid 100 100
10. Related Party Transactions
Included in creditors due within one year is a balance of £50,500 due to the other participating interests.
Page 5