IRIS Accounts Production v24.3.0.553 03721886 Board of Directors 1.3.23 29.2.24 29.2.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh037218862023-02-28037218862024-02-29037218862023-03-012024-02-29037218862022-02-28037218862022-03-012023-02-28037218862023-02-2803721886ns15:EnglandWales2023-03-012024-02-2903721886ns14:PoundSterling2023-03-012024-02-2903721886ns10:Director12023-03-012024-02-2903721886ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2903721886ns10:SmallEntities2023-03-012024-02-2903721886ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2903721886ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2903721886ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2903721886ns10:FullAccounts2023-03-012024-02-2903721886ns10:Director22023-03-012024-02-2903721886ns10:Director32023-03-012024-02-2903721886ns10:Director42023-03-012024-02-2903721886ns10:RegisteredOffice2023-03-012024-02-2903721886ns5:CurrentFinancialInstruments2024-02-2903721886ns5:CurrentFinancialInstruments2023-02-2803721886ns5:Non-currentFinancialInstruments2024-02-2903721886ns5:Non-currentFinancialInstruments2023-02-2803721886ns5:ShareCapital2024-02-2903721886ns5:ShareCapital2023-02-2803721886ns5:RetainedEarningsAccumulatedLosses2024-02-2903721886ns5:RetainedEarningsAccumulatedLosses2023-02-2803721886ns5:ComputerEquipment2023-03-012024-02-2903721886ns5:ComputerEquipment2023-02-2803721886ns5:ComputerEquipment2024-02-2903721886ns5:ComputerEquipment2023-02-2803721886ns5:WithinOneYearns5:CurrentFinancialInstruments2024-02-2903721886ns5:WithinOneYearns5:CurrentFinancialInstruments2023-02-2803721886ns5:WithinOneYear2024-02-2903721886ns5:WithinOneYear2023-02-28
REGISTERED NUMBER: 03721886 (England and Wales)















Unaudited Financial Statements

for the Year Ended 29 February 2024

for

WPDM Ltd

WPDM Ltd (Registered number: 03721886)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WPDM Ltd

Company Information
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: A R Wagner
K M Wagner
A J Prior
H Prior





REGISTERED OFFICE: The Stable Yard
Vicarage Road
Stony Stratford
Milton Keynes
Buckinghamshire
MK11 1BN





REGISTERED NUMBER: 03721886 (England and Wales)





ACCOUNTANTS: Connolly Accountants & Business Advisors Ltd
Chartered Certified Accountants
The Stable Yard
25-33 Vicarage Road
Stony Stratford
Milton Keynes
Buckinghamshire
MK11 1BN

WPDM Ltd (Registered number: 03721886)

Balance Sheet
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5 172

CURRENT ASSETS
Debtors 5 273,795 260,959
Cash at bank 121,355 23,991
395,150 284,950
CREDITORS
Amounts falling due within one year 6 312,662 257,188
NET CURRENT ASSETS 82,488 27,762
TOTAL ASSETS LESS CURRENT
LIABILITIES

82,493

27,934

CREDITORS
Amounts falling due after more than one year 7 13,091 23,274
NET ASSETS 69,402 4,660

CAPITAL AND RESERVES
Called up share capital 650 650
Retained earnings 68,752 4,010
SHAREHOLDERS' FUNDS 69,402 4,660

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 directors acknowledge their 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.

WPDM Ltd (Registered number: 03721886)

Balance Sheet - continued
29 FEBRUARY 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2024 and were signed on its behalf by:





A R Wagner - Director


WPDM Ltd (Registered number: 03721886)

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

1. STATUTORY INFORMATION

WPDM Ltd 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 3 years

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provision 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.

Basic Financial Assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised costs 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 a contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from related companies 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 costs, 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. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.


WPDM Ltd (Registered number: 03721886)

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

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 March 2023
and 29 February 2024 505
DEPRECIATION
At 1 March 2023 333
Charge for year 167
At 29 February 2024 500
NET BOOK VALUE
At 29 February 2024 5
At 28 February 2023 172

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 273,795 260,959

WPDM Ltd (Registered number: 03721886)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,183 9,932
Trade creditors 18,585 20,084
Taxation and social security 68,316 58,854
Other creditors 215,578 168,318
312,662 257,188

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 13,091 23,274

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year - 2,140

The company holds two operating leases upon company hire vehicles. The costs of those leases are included in the travel expenditure category..

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
HitachiCapital Invoice Finance 10,800 28,229

Under an agreement, Hitachi Capital Invoice Finance Ltd holds security against all book debts together with the benefit of all rights attached to such book debts from time to time owing to the borrower.

Under a debenture, Hitachi Capital Invoice Finance Ltd holds fixed and floating charges over the undertaking and all property and assets present and future, including goodwill, book debts, uncalled capital, buildings and fixed plant and machinery.

WPDM Ltd (Registered number: 03721886)

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

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£    £   
**UNKNOWN DIRECTOR 1**
Balance outstanding at start of year 10,202 10,920
Amounts advanced 48,245 39,000
Amounts repaid (25,232 ) (39,718 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 33,215 10,202

**UNKNOWN DIRECTOR 2**
Balance outstanding at start of year 5,160 5,160
Amounts advanced 32,750 30,000
Amounts repaid (27,670 ) (30,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 10,240 5,160

**UNKNOWN DIRECTOR 3**
Balance outstanding at start of year 25,948 27,977
Amounts advanced 34,533 30,441
Amounts repaid (40,037 ) (32,470 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 20,444 25,948

**UNKNOWN DIRECTOR 4**
Balance outstanding at start of year 36,479 36,479
Amounts advanced 29,975 24,250
Amounts repaid (20,880 ) (24,250 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 45,574 36,479

All transactions are interest free and all balances are repayable on demand.