Wayport Ltd 10588938 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is Property Investment Digita Accounts Production Advanced 6.30.9574.0 true true 10588938 2024-01-01 2024-12-31 10588938 2024-12-31 10588938 bus:Director2 1 2024-12-31 10588938 bus:Director2 2 2024-12-31 10588938 core:RetainedEarningsAccumulatedLosses 2024-12-31 10588938 core:ShareCapital 2024-12-31 10588938 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 10588938 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 10588938 bus:SmallEntities 2024-01-01 2024-12-31 10588938 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 10588938 bus:FilletedAccounts 2024-01-01 2024-12-31 10588938 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 10588938 bus:RegisteredOffice 2024-01-01 2024-12-31 10588938 bus:Director2 2024-01-01 2024-12-31 10588938 bus:Director2 1 2024-01-01 2024-12-31 10588938 bus:Director2 2 2024-01-01 2024-12-31 10588938 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 10588938 countries:EnglandWales 2024-01-01 2024-12-31 10588938 2023-12-31 10588938 bus:Director2 1 2023-12-31 10588938 bus:Director2 2 2023-12-31 10588938 2023-01-01 2023-12-31 10588938 2023-12-31 10588938 bus:Director2 1 2023-12-31 10588938 core:RetainedEarningsAccumulatedLosses 2023-12-31 10588938 core:ShareCapital 2023-12-31 10588938 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 10588938 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 10588938 bus:Director2 1 2023-01-01 2023-12-31 10588938 bus:Director2 1 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 10588938

Wayport Ltd



Filleted Unaudited Financial Statements

for the Year Ended 31 December 2024

 

Wayport Ltd

 

(Registration number: 10588938)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

939,141

429,141

Current assets

 

Debtors

5

98,145

23,336

Cash at bank and in hand

 

19,434

3,908

 

117,579

27,244

Creditors: Amounts falling due within one year

6

(249,670)

(82,817)

Net current liabilities

 

(132,091)

(55,573)

Total assets less current liabilities

 

807,050

373,568

Creditors: Amounts falling due after more than one year

6

(686,246)

(319,696)

Provisions for liabilities

(48,081)

(24,701)

Net assets

 

72,723

29,171

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

(71,521)

(44,932)

Non-distributable reserve

 

144,243

74,102

Total equity

 

72,723

29,171

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

 

Wayport Ltd

 

(Registration number: 10588938)
Balance Sheet as at 31 December 2024

Director's 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 director acknowledges her 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 24 March 2025
 

.........................................
Mrs R Black
Director

 

Wayport Ltd

 

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
21 Sedgley Avenue
Prestwich
Manchester
M25 0LS
United Kingdom

These financial statements were authorised for issue by the director on 24 March 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.

Going concern

The financial statements have been prepared on a going concern basis.

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 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 deferred 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.

 

Wayport Ltd

 

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors 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 debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

 

Wayport Ltd

 

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

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 the director) during the year, was 1 (2023 - 1).

4

Investment properties

2024
£

At 1 January 24

429,141

Additions

416,480

Fair value adjustments

93,520

At 31 December 24

939,141

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

The historical cost of the property is £746,817.

 

 

Wayport Ltd

 

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

5

Debtors

Current

2024
£

2023
£

Other debtors

98,145

23,336

 

98,145

23,336

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

600

528

Other creditors

249,070

82,289

249,670

82,817

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

686,246

319,696

Creditors include bank loans and overdrafts which are secured of £686,216 (2023- £319,696).

7

Related party transactions

 

Wayport Ltd

 

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

Transactions with the director

2024

At 1 January 2024
£

Repayments by director
£

At 31 December 2024
£

Mrs R Black

Advance to Director

22,966

(22,966)

-

-

-

-

22,966

(22,966)

-

2023

At 1 January 2023
£

Advances to director
£

At 31 December 2023
£

Mrs R Black

Advance to Director

-

22,966

22,966

-

22,966

22,966