REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 |
FOR |
WEST INDIA QUAY DEVELOPMENT COMPANY |
(EASTERN) LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 |
FOR |
WEST INDIA QUAY DEVELOPMENT COMPANY |
(EASTERN) LIMITED |
WEST INDIA QUAY DEVELOPMENT COMPANY |
(EASTERN) LIMITED (REGISTERED NUMBER: 03290047) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
WEST INDIA QUAY DEVELOPMENT COMPANY |
(EASTERN) LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditors |
4th Floor |
Charles House |
108-110 Finchley Road |
London |
NW3 5JJ |
WEST INDIA QUAY DEVELOPMENT COMPANY |
(EASTERN) LIMITED (REGISTERED NUMBER: 03290047) |
BALANCE SHEET |
30 APRIL 2024 |
30.4.24 | 30.4.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
WEST INDIA QUAY DEVELOPMENT COMPANY |
(EASTERN) LIMITED (REGISTERED NUMBER: 03290047) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
1. | STATUTORY INFORMATION |
West India Quay Development Company (Eastern) Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£) and rounded to the nearest £. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Investments in subsidiaries |
Investments in subsidiaries are carried at cost less impairment. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in the profit or loss. |
Financial liabilities |
Short term creditors are measured at transaction price. Other financial liabilities, including loans from group companies are measured initially at fair value, net of transaction costs and are measured subsequently at amortised cost using the effective interest method, less any impairment. |
Financial assets |
Short term debtors are measured at transaction price, less any impairment. Other financial assets, including loans to group companies are measured initially at fair value, net of transactions costs and are subsequently measured at amortised cost using the effective interest method, less any impairment. |
Related parties |
The company has taken advantage of FRS 102, Section 1AC.35, for the disclosure of transactions entered into between two or more members of a group, provided that any subsidiary which is party to the transaction is wholly owned by such a member. Amounts owed to and from group companies are therefore shown in aggregate. |
Going concern |
The directors have considered the company's performance as well as forecasts and projections for the next 12 months from the date of this report and have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to prepare its financial statements on a going concern basis. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 May 2023 |
and 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Amounts owed by group undertakings |
WEST INDIA QUAY DEVELOPMENT COMPANY |
(EASTERN) LIMITED (REGISTERED NUMBER: 03290047) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Amounts owed to group undertakings |
7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
8. | CONTINGENT LIABILITIES |
The company is part of an omnibus guarantee and set off agreement for securing all monies due or to become due from certain group companies which at 30 April 2024 amounted to £163.35m. |
9. | RELATED PARTY DISCLOSURES |
Included in debtors falling due within one year is an amount of £2 (2023: £2) owed by group undertakings. |
Included in creditors due within one year is an amount of £4 (2023: £4) owed to group undertakings. |
Amounts outstanding between group companies arise by virtue of financing transactions. These amounts are unsecured, interest free and due within one year. |
10. | PARENT COMPANY |
The immediate parent companies are West India Quay (Eastern) Limited and WIQ Hotel Corporation Limited. The company's accounts are consolidated in the accounts of Yianis Docklands Hotels 1 Limited, incorporated in Great Britain. Its registered office address is 4th Floor, Charles House, 108-110 Finchley Road, London, NW3 5JJ. Its principal place of business is Canary Riverside, 50 Westferry Circus, Canary Wharf, London, E14 8RR. The ultimate parent undertaking is Yianis Holdings TC Limited, incorporated in BVI. |