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REGISTERED NUMBER: 02897138 (England and Wales)













Unaudited Financial Statements

for the Year Ended 29 February 2024

for

W.I.B UK LIMITED

W.I.B UK LIMITED (REGISTERED NUMBER: 02897138)






Contents of the Financial Statements
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


W.I.B UK LIMITED

Company Information
FOR THE YEAR ENDED 29 FEBRUARY 2024







Director: Mr M Worswick





Registered office: 31 Spring Road
Orrell
Wigan
Lancashire
WN5 8QB





Registered number: 02897138 (England and Wales)





Accountants: NRB
1st Floor Waterside House
Waterside Drive
Wigan
Lancashire
WN3 5AZ

W.I.B UK LIMITED (REGISTERED NUMBER: 02897138)

Balance Sheet
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,947 14,933
Investment property 5 500,000 500,000
511,947 514,933

CREDITORS
Amounts falling due within one year 6 95,042 84,546
NET CURRENT LIABILITIES (95,042 ) (84,546 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

416,905

430,387

PROVISIONS FOR LIABILITIES 8 22,700 19,713
NET ASSETS 394,205 410,674

CAPITAL AND RESERVES
Called up share capital 9 800 800
Fair value reserve 10 163,867 163,867
Retained earnings 229,538 246,007
SHAREHOLDERS' FUNDS 394,205 410,674

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.

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 22 November 2024 and were signed by:





Mr M Worswick - Director


W.I.B UK LIMITED (REGISTERED NUMBER: 02897138)

Notes to the Financial Statements
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

W.I.B UK 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 as modified by the revaluation of certain assets.

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 - 20% on reducing balance

Investment property
Investment property is shown at fair value. Any surplus or deficit arising from change in fair value are recognised in the income statement.

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 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 March 2023
and 29 February 2024 20,592
DEPRECIATION
At 1 March 2023 5,659
Charge for year 2,986
At 29 February 2024 8,645
NET BOOK VALUE
At 29 February 2024 11,947
At 28 February 2023 14,933

W.I.B UK LIMITED (REGISTERED NUMBER: 02897138)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023
and 29 February 2024 500,000
NET BOOK VALUE
At 29 February 2024 500,000
At 28 February 2023 500,000

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2009 265,000
Valuation in 2016 71,830
Valuation in 2023 163,170
500,000

The investment property was valued on a open market basis, by the director on 28.02.2024.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 3,874 2,315
Taxation and social security 1,889 12,161
Other creditors 89,279 70,070
95,042 84,546

7. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Bank overdrafts 3,874 2,315

The bank loans are secured by a fixed charge over the property.The hire purchase liability is secured against the specific asset.

8. PROVISIONS FOR LIABILITIES
29.2.24 28.2.23
£    £   
Deferred tax 22,700 19,713

Deferred
tax
£   
Balance at 1 March 2023 19,713
Charge to Income Statement during year 2,987
Balance at 29 February 2024 22,700

W.I.B UK LIMITED (REGISTERED NUMBER: 02897138)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
800 Ordinary £1 800 800

10. RESERVES
Fair
value
reserve
£   
At 1 March 2023
and 29 February 2024 163,867