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31/12/2024
2024-12-31
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No description of principal activities is disclosed
2024-01-01
Sage Accounts Production 23.0 - FRS102_2023
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00559034
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00559034
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2024-12-31
00559034
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2024-01-01
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00559034
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00559034
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00559034
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2024-12-31
00559034
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2023-12-31
00559034
core:CapitalRedemptionReserve
2024-12-31
00559034
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2023-12-31
00559034
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2024-12-31
00559034
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2023-12-31
00559034
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2022-12-31
00559034
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2022-12-31
00559034
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2022-12-31
00559034
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2024-12-31
00559034
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core:OwnedOrFreeholdAssets
2023-12-31
00559034
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core:OwnedOrFreeholdAssets
2023-12-31
00559034
core:FurnitureFittingsToolsEquipment
2023-12-31
00559034
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2023-12-31
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00559034
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Company registration number:
00559034
WSP Investments Ltd
Unaudited filleted financial statements
31 December 2024
WSP Investments Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
WSP Investments Ltd
Directors and other information
|
|
|
|
Directors |
Mr G Major |
|
|
Mrs A Major |
|
|
|
|
|
|
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Company number |
00559034 |
|
|
|
|
|
|
|
Registered office |
Toad Hall |
|
|
101 Lower Luton Road |
|
|
Harpenden |
|
|
AL5 5AL |
|
|
|
|
|
|
|
Accountants |
Hicks and Company |
|
|
Chartered Accountants |
|
|
Vaughan Chambers |
|
|
Vaughan Road |
|
|
Harpenden |
|
|
AL5 4EE |
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|
WSP Investments Ltd
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of WSP Investments Ltd
Year ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of WSP Investments Ltd for the year ended 31 December 2024 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of WSP Investments Ltd, as a body, in accordance with the terms of our engagement letter dated 16 May 2024. Our work has been undertaken solely to prepare for your approval the financial statements of WSP Investments Ltd and state those matters that we have agreed to state to the board of directors of WSP Investments Ltd as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than WSP Investments Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that WSP Investments Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of WSP Investments Ltd. You consider that WSP Investments Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of WSP Investments Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
AL5 4EE
21 March 2025
WSP Investments Ltd
Statement of financial position
31 December 2024
|
|
|
2024 |
|
|
|
2023 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Tangible assets |
|
5 |
160,000 |
|
|
|
340,000 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
160,000 |
|
|
|
340,000 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Debtors |
|
6 |
45,067 |
|
|
|
56,877 |
|
|
Cash at bank and in hand |
|
|
332,527 |
|
|
|
136,464 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
377,594 |
|
|
|
193,341 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
7 |
(
6,695) |
|
|
|
(
4,079) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current assets |
|
|
|
|
370,899 |
|
|
|
189,262 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
530,899 |
|
|
|
529,262 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities |
|
|
|
|
(
3,130) |
|
|
|
(
4,905) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
527,769 |
|
|
|
524,357 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
401 |
|
|
|
401 |
Non-distributable revaluation reserve |
|
|
|
|
115,870 |
|
|
|
241,000 |
Capital redemption reserve |
|
|
|
|
802 |
|
|
|
802 |
Profit and loss account |
|
|
|
|
410,696 |
|
|
|
282,154 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
527,769 |
|
|
|
524,357 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the 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.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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.
These financial statements were approved by the
board of directors
and authorised for issue on
21 March 2025
, and are signed on behalf of the board by:
Mr G Major
Mrs A Major
Director
Director
Company registration number:
00559034
WSP Investments Ltd
Statement of changes in equity
Year ended 31 December 2024
|
|
Called up share capital |
|
Non-distributable revaluation reserve |
|
Capital redemption reserve |
|
Profit and loss account |
Total |
|
|
|
£ |
|
£ |
|
£ |
|
£ |
£ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 1 January 2023 |
|
401 |
|
- |
|
802 |
|
514,561 |
515,764 |
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the year |
|
|
|
|
|
|
|
8,593 |
8,593 |
|
Other comprehensive income for the year: |
|
|
|
|
|
|
|
|
|
|
Reclassification from revaluation reserve to profit and loss account |
|
|
|
241,000 |
|
|
|
(
241,000) |
- |
|
|
|
_______ |
|
_______ |
|
_______ |
|
_______ |
_______ |
|
Total comprehensive income for the year |
|
- |
|
241,000 |
|
- |
|
(
232,407) |
8,593 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
_______ |
|
_______ |
|
_______ |
_______ |
|
At 31 December 2023 and 1 January 2024 |
|
401 |
|
241,000 |
|
802 |
|
282,154 |
524,357 |
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the year |
|
|
|
|
|
|
|
3,412 |
3,412 |
|
Other comprehensive income for the year: |
|
|
|
|
|
|
|
|
|
|
Reclassification from revaluation reserve to profit and loss account |
|
|
|
(
125,130) |
|
|
|
125,130 |
- |
|
|
|
_______ |
|
_______ |
|
_______ |
|
_______ |
_______ |
|
Total comprehensive income for the year |
|
- |
|
(
125,130) |
|
- |
|
128,542 |
3,412 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
_______ |
|
_______ |
|
_______ |
_______ |
|
At 31 December 2024 |
|
401 |
|
115,870 |
|
802 |
|
410,696 |
527,769 |
|
|
|
_______ |
|
_______ |
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
WSP Investments Ltd
Notes to the financial statements
Year ended 31 December 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 Toad Hall, 101 Lower Luton Road, Harpenden, AL5 5AL.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for rent and service charges, stated net of discounts.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
Fittings fixtures and equipment |
- |
25% reducing balance |
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Investment property
Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2023:
2
).
5.
Tangible assets
|
|
Freehold property |
Fixtures, fittings and equipment |
Total |
|
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 January 2024 |
340,000 |
10,477 |
350,477 |
|
|
|
|
|
Disposals |
(
180,000) |
- |
(
180,000) |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 31 December 2024 |
160,000 |
10,477 |
170,477 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 January 2024 and 31 December 2024 |
- |
10,477 |
10,477 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 December 2024 |
160,000 |
- |
160,000 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 31 December 2023 |
340,000 |
- |
340,000 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
Freehold investment properties have been valued by the directors at their fair value at 31 December 2024. The historical cost of the freehold properties included above at a value of £160,000 was £41,000.
6.
Debtors
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
|
|
|
|
|
Other debtors |
|
45,067 |
56,877 |
|
|
|
_______ |
_______ |
|
|
|
|
|
7.
Creditors: amounts falling due within one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
|
|
|
|
|
Trade creditors |
|
- |
90 |
|
Corporation tax |
|
2,407 |
- |
|
Social security and other taxes |
|
220 |
149 |
|
Other creditors |
|
4,068 |
3,840 |
|
|
|
_______ |
_______ |
|
|
|
6,695 |
4,079 |
|
|
|
_______ |
_______ |
|
|
|
|
|
8.
Directors advances, credits and guarantees
|
During the year the directors entered into the following advances and credits with the company: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2024 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the directors |
Amounts repaid |
Balance o/standing |
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
|
|
|
|
|
|
|
|
Mr G Major |
2,228 |
696 |
(
2,228) |
696 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
2023 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the directors |
Amounts repaid |
Balance o/standing |
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
|
|
|
|
|
|
|
|
Mr G Major |
101,062 |
2,228 |
(
101,062) |
2,228 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|