General Information
WDI UK LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11779320, registration address 18 Ensign Street, London, E1 8PA.
The presentation currency is £ sterling.
1. |
Accounting policies
Significant accounting policies
The financial statements are prepared in accordance with the provisions of FRS 102 Section 1A The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of Preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention. The financial statements are prepared in sterling which is the functional currency of the company.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Office Equipment |
3 Years Straight Line
|
Investments
Investments are stated at cost less provision for any permanent diminution in value.
|
2. |
Average number of employees
Average number of employees during the year was 3 (2023 : 4).
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3. |
Audit Information
The auditor's report on the accounts of WDI UK LIMITED for the year ended 31 December 2024 was qualified.
Basis for qualified opinion
In respect of the cost of investment in the company's associate, FGM Entertainment Ltd, we were unable to obtain sufficient audit evidence about the carrying amount of the company's investment as at 31 December 2024. The investment has not been audited for the year ended 31 December 2023 and 31 December 2024. Any adjustments to the carrying value of the investment would have a consequential significant effect on the impairment expense and retained earnings in the year ended 31 December 2024. No other procedures that were performed to confirm that the figures were properly recorded.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRCs Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.
The auditor's report was signed by Sangyai Jonathan Pitayanukul (Senior Statutory Auditor)
for and on behalf of P and Co (Partners) LLP Chartered Accountants and Registered Auditors on 20 March 2025.
|
4. |
Tangible fixed assets
Cost or valuation |
Office Equipment |
|
Total |
|
£ |
|
£ |
At 01 January 2024 |
978 |
|
978 |
Additions |
1,416 |
|
1,416 |
Disposals |
- |
|
- |
At 31 December 2024 |
2,394 |
|
2,394 |
Depreciation |
At 01 January 2024 |
978 |
|
978 |
Charge for year |
472 |
|
472 |
On disposals |
- |
|
- |
At 31 December 2024 |
1,450 |
|
1,450 |
Net book values |
Closing balance as at 31 December 2024 |
944 |
|
944 |
Opening balance as at 01 January 2024 |
- |
|
- |
|
5. |
Investments
Cost |
Other investments other than loans |
|
Investments in group undertakings |
|
Total |
|
£ |
|
£ |
|
£ |
At 01 January 2024 |
200,000 |
|
1,500,000 |
|
1,700,000 |
Additions |
- |
|
- |
|
- |
Transfer to/from tangible fixed assets |
- |
|
- |
|
- |
Disposals |
- |
|
- |
|
- |
At 31 December 2024 |
200,000 |
|
1,500,000 |
|
1,700,000 |
The company's investments in the share capital of two companies are as below:
Subsidiary
Tim Ho Wan UK Limited
Registered office: 18 Ensign Street, London, E1 8PA Country of incorporation and registration: England and Wales Description of share held: Ordinary share of £1,000 each with total number of shares 1,500 Nature of business: Dormant Accounting year end date: 31 December 2024
%
Class of shares: holding
Ordinary shares: 100
The aggregate amount of the subsidiary undertaking's capital and reserves as at year end date is £1,500,000 (2023: £1,500,000) and its profit for the year is £nil (2023: £nil) since it is a dormant company.
Associate
FGM Entertainment Ltd
Registered office: 98 Park Road, London, England, NW1 4SH
Country of incorporation and registration: England and Wales
Description of share held: Ordinary share of £1 each with total number of shares 333
Nature of business: Public houses and bars
Accounting year end date: 31 December 2024
%
Class of shares: holding
Ordinary shares: 40
The aggregate amount of the associated undertaking's shareholder's deficiency as at year end date is £179,485 (2023: shareholder's fund of £45,398) and its loss for the year is £224,882 (2023: £206,309).
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6. |
Debtors: amounts falling due within one year
|
2024 £ |
|
2023 £ |
Prepayments & Accrued Income |
6,465 |
|
7,854 |
Deposits paid |
620 |
|
620 |
Amounts due from Group Undertakings |
822,514 |
|
970,136 |
VAT |
2,300 |
|
2,324 |
|
831,899 |
|
980,934 |
|
7. |
Creditors: amount falling due within one year
|
2024 £ |
|
2023 £ |
Amounts Owed to Group Undertakings |
4,528 |
|
- |
Amounts Owed to Participating Interests |
1,500,000 |
|
1,500,000 |
PAYE & Social Security |
8,238 |
|
653 |
Accrued Expenses |
10,696 |
|
20,876 |
Other Creditors |
549 |
|
- |
Wages & Salaries Control Account |
5,302 |
|
7,526 |
|
1,529,313 |
|
1,529,055 |
|
8. |
Share Capital
Allotted, called up and fully paid
|
2024 £ |
|
2023 £ |
2,000
Ordinary shares of £1,000.00 each |
2,000,000 |
|
2,000,000 |
|
2,000,000 |
|
2,000,000 |
|
9. |
Immediate and ultimate parent undertaking
The directors consider the immediate and ultimate parent undertaking and controlling party of the company to be WDI Corporation, a company incorporated in Japan. The smallest group to consolidate these financial statements is WDI Corporation.
The registered office of WDI Corporation is Roi Bldg. 8F & 9F, 5-5-1 Roppongi, Minato-ku, Tokyo 106-8522 Japan.
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