Registered number
08403422
WRA Associates Limited
Filleted Accounts
31 August 2024
WRA Associates Limited
Registered number: 08403422
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Current assets
Work-in-progress 3,900 10,150
Debtors 5 4,957 3,720
Cash at bank and in hand 20 120
8,877 13,990
Creditors: amounts falling due within one year 6 (32,316) (31,173)
Net current liabilities (23,439) (17,183)
Total assets less current liabilities (23,439) (17,183)
Creditors: amounts falling due after more than one year 7 (2,250) (5,250)
Net liabilities (25,689) (22,433)
Capital and reserves
Called up share capital 100 100
Profit and loss account (25,789) (22,533)
Shareholders' funds (25,689) (22,433)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
W E Rowbotham, Esq
Director
Approved by the board on 20 February 2025
WRA Associates Limited
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computers over 3 years
Office equipment & furniture over 4 years
Work-in-progress
Work-in-progress is measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company - -
3 Intangible fixed assets £
Goodwill:
Cost
At 1 September 2023 30,000
At 31 August 2024 30,000
Amortisation
At 1 September 2023 30,000
At 31 August 2024 30,000
Net book value
At 31 August 2024 -
Goodwill has been written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Computers & office equipment
Cost
At 1 September 2023 5,682
At 31 August 2024 5,682
Depreciation
At 1 September 2023 5,682
At 31 August 2024 5,682
Net book value
At 31 August 2024 -
5 Debtors 2024 2023
£ £
Trade debtors 4,957 3,720
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 16,936 13,747
Trade creditors 241 -
Taxation and social security costs 320 1,026
Other creditors 14,819 16,400
32,316 31,173
Included in creditors is £12,981 (2023:£14,573) owing to the director. This loan was interest-free.
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 2,250 5,250
8 Going concern
The company is dependant on the provision of finance by the director for the activities of the company to continue.
9 Controlling party
The company is controlled by the director, who owns 76% of the issued share capital.
10 Other information
WRA Associates Limited is a private company limited by shares and incorporated in England. Its registered office is:
Devonshire House
582 Honeypot Lane
Stanmore
Middlesex
HA7 1JS
WRA Associates Limited 08403422 false 2023-09-01 2024-08-31 2024-08-31 VT Final Accounts April 2024 W E Rowbotham, Esq No description of principal activity 08403422 2022-09-01 2023-08-31 08403422 core:WithinOneYear 2023-08-31 08403422 core:AfterOneYear 2023-08-31 08403422 core:ShareCapital 2023-08-31 08403422 core:RetainedEarningsAccumulatedLosses 2023-08-31 08403422 2023-09-01 2024-08-31 08403422 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 08403422 bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 08403422 bus:Director40 2023-09-01 2024-08-31 08403422 1 2023-09-01 2024-08-31 08403422 2 2023-09-01 2024-08-31 08403422 1 2023-09-01 2024-08-31 08403422 countries:England 2023-09-01 2024-08-31 08403422 bus:FRS102 2023-09-01 2024-08-31 08403422 bus:FilletedAccounts 2023-09-01 2024-08-31 08403422 2024-08-31 08403422 core:WithinOneYear 2024-08-31 08403422 core:AfterOneYear 2024-08-31 08403422 core:ShareCapital 2024-08-31 08403422 core:RetainedEarningsAccumulatedLosses 2024-08-31 08403422 core:Goodwill 2024-08-31 08403422 core:PlantMachinery 2024-08-31 08403422 2023-08-31 08403422 core:Goodwill 2023-08-31 08403422 core:PlantMachinery 2023-08-31 iso4217:GBP xbrli:pure