0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-10 Sage Accounts Production Advanced 2024 - FRS102_2024 145,712 145,712 xbrli:pure xbrli:shares iso4217:GBP 14788359 2023-04-10 2024-04-30 14788359 2024-04-30 14788359 2023-04-09 14788359 bus:Director1 2023-04-10 2024-04-30 14788359 core:WithinOneYear 2024-04-30 14788359 core:ShareCapital 2024-04-30 14788359 core:RetainedEarningsAccumulatedLosses 2024-04-30 14788359 core:LandBuildings core:OwnedOrFreeholdAssets 2024-04-30 14788359 bus:SmallEntities 2023-04-10 2024-04-30 14788359 bus:AuditExemptWithAccountantsReport 2023-04-10 2024-04-30 14788359 bus:SmallCompaniesRegimeForAccounts 2023-04-10 2024-04-30 14788359 bus:PrivateLimitedCompanyLtd 2023-04-10 2024-04-30 14788359 bus:FullAccounts 2023-04-10 2024-04-30 14788359 core:KeyManagementIndividualGroup1 2023-04-10 2024-04-30 14788359 core:KeyManagementIndividualGroup1 2024-04-30
COMPANY REGISTRATION NUMBER: 14788359
WJ Asset Management Limited
Filleted Unaudited Financial Statements
Period from 10 April 2023 to
30 April 2024
WJ Asset Management Limited
Financial Statements
Period from 10 April 2023 to 30 April 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
WJ Asset Management Limited
Statement of Financial Position
30 April 2024
30 Apr 24
Note
£
£
Fixed assets
Tangible assets
4
145,712
Current assets
Debtors
5
725
Cash at bank and in hand
6,618
-------
7,343
Creditors: amounts falling due within one year
6
146,005
----------
Net current liabilities
138,662
----------
Total assets less current liabilities
7,050
-------
Capital and reserves
Called up share capital
100
Profit and loss account
6,950
-------
Shareholders funds
7,050
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
WJ Asset Management Limited
Statement of Financial Position (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 8 January 2025 , and are signed on behalf of the board by:
H L Walker
Director
Company registration number: 14788359
WJ Asset Management Limited
Notes to the Financial Statements
Period from 10 April 2023 to 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 196 High Street, Hook, Goole, DN14 5PL.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.
Revenue recognition
Turnover compromises revenue recognised by the company in respect of property management and rental income receivable.
Revenue from rents receivable is recognised in accordance with the terms of the relevant lease agreement.
Current & deferred tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Investment properties
Investment properties are initially recorded at cost, which included purchase price and any directly attributable expenditure.
Investment properties are revalued at their fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual agreement entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities .
Employee numbers
The average number of persons employed by the company during the year amounted to 1.
4. Tangible assets
Freehold property
£
Cost
At 10 April 2023 and 30 April 2024
145,712
----------
Depreciation
At 10 April 2023 and 30 April 2024
----------
Carrying amount
At 30 April 2024
145,712
----------
5. Debtors
30 Apr 24
£
Trade debtors
725
----
6. Creditors: amounts falling due within one year
30 Apr 24
£
Trade creditors
1,325
Corporation tax
1,630
Other creditors
143,050
----------
146,005
----------
7. Related party transactions
The director had a loan account with the company during the period. The balance owing to the director on 30 April 2024 was £ 143,050 .