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Company registration number: |
5076406
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WINGS INVESTMENT LIMITED
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REPORT OF THE DIRECTORS' AND |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 March 2024 |
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WINGS INVESTMENT LIMITED |
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BALANCE SHEET |
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AS AT 31 March 2024
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2024 |
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2023 |
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Notes |
£ |
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£ |
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£ |
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£ |
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CURRENT ASSETS |
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Debtors | | | | 95,107 | | | | 111,322 | | | | |
Cash at bank and in hand | | | | 11,628 | | | | 9,590 | | | | |
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| | | | | 106,735 | | | | 120,912 | | | |
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CREDITORS |
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Amounts falling due within one year |
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(111) |
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(2,876) |
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NET CURRENT ASSETS |
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106,624 |
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118,036 |
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TOTAL ASSETS LESS |
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CURRENT LIABILITIES |
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106,624 |
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118,036 |
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NET ASSETS |
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106,624 |
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118,036 |
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CAPITAL AND RESERVES |
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Called-up equity share capital |
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100 |
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100 |
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Profit and loss account |
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106,524 |
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117,936 |
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SHAREHOLDERS FUNDS |
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106,624 |
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118,036 |
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For the year ending 31 March 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. | | | | | | | |
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. | | | | | | | |
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the accounts. | | | | | | | |
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All the members have consented to the preparation of abridged financial statements for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006. | | | | | | | |
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The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies' regime. | | | | | | | |
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These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. Approved by the board of directors on 27 November 2024 and signed on its behalf. | | | | | | | |
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.......................................................................... |
H S W Tsang |
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27 November 2024
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The annexed notes form part of these financial statements. | | | | | | | |
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WINGS INVESTMENT LIMITED |
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NOTES TO THE FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2024 |
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1. |
Accounting policies |
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Basis of preparing the financial statements |
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The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
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| Turnover | | | | | | | | | |
| Turnover comprises the value of goods and services supplied by the company, net of Value Added Tax. | |
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| Intangible Assets |
| Goodwill is the difference between the amount paid on the acquisition of a business and the aggregate fair value of its separable net assets. It is being written off in equal annual instalments over its estimated economic life of ten years. | |
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| Fixed Assets | | | | | | | | |
| Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Fixtures and fittings - 25% reducing balance basis. | |
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| Stocks and Work In Progress | | | | | | | |
| Stocks and work in progress are valued at the lower of cost and net realisable value. | |
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| Deferred Taxation | | | | | | | | |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the Balance Sheet date. | |
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| GOING CONCERN | | | | | | | |
| The company ceased trading on 7 November 2021 and therefore, the going concern basis has not been adopted in compiling these financial statements. |
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2. | Employees | | | |
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| The average number of persons employed by the company (including directors) during the year was 2. |
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3. | Related Party Transactions | | | | | | | | |
| The directors have maintained a joint interest-free loan to the company. The balance outstanding at the balance sheet date was £111 (2023 : £2,876). During the year, the company paid dividends totalling £10,000 to its directors. | |
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