2 2 Wardlet DM Limited 11340891 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is property rental Digita Accounts Production Advanced 6.30.9574.0 true 11340891 2023-06-01 2024-05-31 11340891 2024-05-31 11340891 bus:OrdinaryShareClass1 2024-05-31 11340891 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 11340891 core:Non-currentFinancialInstruments 2024-05-31 11340891 core:Non-currentFinancialInstruments core:AfterOneYear 2024-05-31 11340891 bus:SmallEntities 2023-06-01 2024-05-31 11340891 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 11340891 bus:FilletedAccounts 2023-06-01 2024-05-31 11340891 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 11340891 bus:RegisteredOffice 2023-06-01 2024-05-31 11340891 bus:Director1 2023-06-01 2024-05-31 11340891 bus:Director2 2023-06-01 2024-05-31 11340891 bus:OrdinaryShareClass1 2023-06-01 2024-05-31 11340891 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 11340891 bus:Agent1 2023-06-01 2024-05-31 11340891 core:RevaluationReserve core:LandBuildings 2023-06-01 2024-05-31 11340891 core:LandBuildings 2023-06-01 2024-05-31 11340891 core:OtherRelatedParties 2023-06-01 2024-05-31 11340891 countries:UnitedKingdom 2023-06-01 2024-05-31 11340891 2023-05-31 11340891 2022-06-01 2023-05-31 11340891 2023-05-31 11340891 bus:OrdinaryShareClass1 2023-05-31 11340891 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 11340891 core:Non-currentFinancialInstruments 2023-05-31 11340891 core:Non-currentFinancialInstruments core:AfterOneYear 2023-05-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 11340891

Wardlet DM Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Wardlet DM Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Wardlet DM Limited

Company Information

Directors

Mr M Ward

Mr D Ward

Registered office

Unit 4
Courtney Commercial Business Park
Courtney Street
Hull
HU8 7QF

Accountants

Botterill & Co
Chartered Certified AccountantsFirst Floor Offices
40 Norwood
Beverley
East Yorkshire
HU17 9EY

 

Wardlet DM Limited

(Registration number: 11340891)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

965,000

810,000

Current assets

 

Cash at bank and in hand

 

29,940

29,553

Creditors: Amounts falling due within one year

5

(221,356)

(230,729)

Net current liabilities

 

(191,416)

(201,176)

Total assets less current liabilities

 

773,584

608,824

Creditors: Amounts falling due after more than one year

5

(395,132)

(395,132)

Net assets

 

378,452

213,692

Capital and reserves

 

Called up share capital

6

2

2

Revaluation reserve

304,729

149,729

Retained earnings

73,721

63,961

Shareholders' funds

 

378,452

213,692

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 February 2025 and signed on its behalf by:
 

.........................................
Mr M Ward
Director

 

Wardlet DM Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Unit 4
Courtney Commercial Business Park
Courtney Street
Hull
HU8 7QF
England

These financial statements were authorised for issue by the Board on 27 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Wardlet DM Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Investment properties

 

Wardlet DM Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

2024
£

At 1 June

810,000

Fair value adjustments

155,000

At 31 May

965,000

The directors confirm that the property is stated within the accounts at fair value.

There has been no valuation of investment property by an independent valuer.

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

1,089

990

Taxation and social security

7,641

7,425

Accruals and deferred income

1,230

1,089

Other creditors

211,396

221,225

221,356

230,729

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

395,132

395,132

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       

7

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

 

Wardlet DM Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

155,000

155,000

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

395,132

395,132

9

Related party transactions

Summary of transactions with other related parties

Forward Contracting (UK) Limited (a company in which Mr M Ward is also a director)
As at 31 May 2024, Forward Contracting (UK) Ltd was owed £37,482 (2023 - £197,543). The amount owing is interest free and repayable on demand.