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Company registration number: 10631220







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
29 FEBRUARY 2024


WEDA NORTHOLT LIMITED






































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WEDA NORTHOLT LIMITED
 


 
COMPANY INFORMATION


Directors
E Ahlin 
M Weston 




Registered number
10631220



Registered office
Unit 1 Northolt Trading Estate
Belvue Road

Northolt

Middlesex

UB5 5QS




Independent auditors
Menzies LLP
Chartered Accountants & Statutory Auditor

3000a Parkway

Whiteley

Hampshire

PO15 7FX





 


WEDA NORTHOLT LIMITED
 



CONTENTS



Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 5


 


WEDA NORTHOLT LIMITED
REGISTERED NUMBER:10631220



STATEMENT OF FINANCIAL POSITION
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
100
100

  
100
100

Current assets
  

Debtors
  
140,000
120,000

  
140,000
120,000

Creditors: amounts falling due within one year
 5 
(145,174)
(126,110)

Net current liabilities
  
 
 
(5,174)
 
 
(6,110)

Total assets less current liabilities
  
(5,074)
(6,010)

Creditors: amounts falling due after more than one year
 6 
(17,670)
(33,926)

  

Net liabilities
  
(22,744)
(39,936)


Capital and reserves
  

Called up share capital 
  
444
466

Capital redemption reserve
  
356
334

Other reserves
  
(33,858)
(48,810)

Profit and loss account
  
10,314
8,074

  
(22,744)
(39,936)


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



................................................
E Ahlin
Director

Date: 28 November 2024

The notes on pages 3 to 5 form part of these financial statements.

Page 1

 


WEDA NORTHOLT LIMITED
 



STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 29 FEBRUARY 2024


Called up share capital
Capital redemption reserve
Other reserves
Profit and loss account
Total equity

£
£
£
£
£


At 1 March 2022
488
312
(62,564)
5,744
(56,020)


Comprehensive income for the year

Profit for the year
-
-
-
16,084
16,084
Total comprehensive income for the year
-
-
-
16,084
16,084

Buyback of shares
(22)
22
13,754
(13,754)
-


Total transactions with owners
(22)
22
13,754
(13,754)
-



At 1 March 2023
466
334
(48,810)
8,074
(39,936)


Comprehensive income for the year

Profit for the year
-
-
-
17,192
17,192
Total comprehensive income for the year
-
-
-
17,192
17,192

Buyback of shares
(22)
22
14,952
(14,952)
-


Total transactions with owners
(22)
22
14,952
(14,952)
-


At 29 February 2024
444
356
(33,858)
10,314
(22,744)


The notes on pages 3 to 5 form part of these financial statements.

Page 2

 


WEDA NORTHOLT LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

WEDA Northolt Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office is disclosed on the company information page.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the year end date, the accounts show a net liability position, suggesting that the company may not be able to meet its obligations as they fall due.
The company is undergoing a share buy back process with former shareholders using staged completion dates annually through to the year ended February 2026. These cash payments to former shareholders are supported by other formerly associated companies and will continue to be so for the remainder of the agreement.
As such, the Directors continue to adopt the going concern basis of accounting in preparing these annual financial statements.

 
2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.4

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 3

 


WEDA NORTHOLT LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.5

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions 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 trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Fixed asset investments








Investments in subsidiary companies

£



Cost or valuation


At 1 March 2023
100



At 29 February 2024
100




Page 4

 


WEDA NORTHOLT LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Other creditors
145,174
126,110

145,174
126,110



6.


Creditors: Amounts falling due after more than one year

29 February
28 February
2024
2023
£
£

Other creditors
17,670
33,926

17,670
33,926



7.


Controlling party

In the opinion of the directors, there is no ultimate controlling party.


8.


Auditors' information

The auditors' report on the financial statements for the year ended 29 February 2024 was unqualified.

The audit report was signed on 29 November 2024 by Andrew Galliers FCA (Senior statutory auditor) on behalf of Menzies LLP.

 
Page 5