Wainbridge Limited is a private company limited by shares incorporated in England and Wales. The registered office is Michelin House, 81 Fulham Road, London, SW3 6RD.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The company will continue to be financially supported by its parent company and other related companies.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
The average monthly number of persons (including directors) employed by the company during the year was:
Tax losses available to be carried forward to offset against future profit at 31st December 2024 amounting to £1,259,769 (2023: £944,426 ).
Fixed assets, included in the above, which is held under hire purchase contract of £118,152.
Included within Other debtors is a loan to Percival Properties S.A.R.L of £99,048 repayable within one year. Interest at a rate of 3% p.a. is charged on the outstanding balance.
The loan to Umelio Holdings Limited is an unsecured interest free loan.
Creditors falling due after more than one year consists of amounts owed to the following lenders:
Belgravia Gate Holdings Limited of £376,661, interest-free with amounts repayable on demand.
The Collection Holding S.A.R.L of £1,020,862, unsecured loan with 1% interest per annum, repayable 1 September 2026
9BG Limited of £220,000, unsecured interest free loan, repayable 28 October 2027.
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.
The auditor's report is unqualified and includes the following:
In March 2025 Umelio Holdings Limited became the immediate parent company. The ultimate controlling party is still Mr K Pisarev.
Creditors includes the following amounts owing to related companies:
Belgravia Gate Holdings Limited (previous name Wainbridge Holdings Ltd): £376,661 (2023: £376,861)
Collection Properties Management Limited: £82,688 (2023: £3,000)
Ostadia Asset Holdings Limited : £1,218,494 (2023 : £457,867)
Included in Other creditors is an amount owing to the ultimate beneficial owner of £354,260 (2023: £407,772). This is a non-interest bearing loan, repayable on demand.
Debtors includes the following amounts owing by related companies:
Belgravia Gate Limited (previous name Wainbridge Estates Belgravia Ltd) : £1,052,934 (2023: £675,561)
9BG Limited: £267,152 (2023: £10,354)
9BG Holding Limited: £11,028 (2023: £8,063)
BG6 Limited (previous name Wainbridge Estates Ltd): £9,656 (2023: £9,656)
Belgravia Gate Partners Limited (previous name WEB Partners Limited): £13,048 (2023: £9,245)
BG Participations Limited (previous name WEB Participations Limited): £12,297 (2023: £8,940)
Belgravia Gate Finance Limited (previous name WEB Finance Limited): £12,902 (2023: £8,835)
Belgravia Gate Mezz Finance Limited (previous name WEB Mezz Finance Limited): £16,618 (2023: £11,469)
Yeomans Row Partners Limited: £846,773 (2023: £708,670)
Umelio Holdings Limited : £52,460 (2023: £52,460)
Collection Properties Management Limited: £3,198 (2023: £3,198)
Yeoman Row Limited: £0 (2023: £36,695). Yeoman Row Limited went into liquidation on September 8, 2023, and the loan has been written off as irrecoverable in the year.
Yeomans Row Holdings Limited: £33,195 (2023: £33,195)
Yeomans Row Management Company Limited: £2,777 (2023: £360)
Wainbridge Capital Ltd: £0 (2023: £774). Wainbridge Capital Ltd was dissolved on 5 March 2024 and the loan has been written off as irrecoverable in the year.
Octavus Holding Limited: £8,687 (2023: £6,474)
Octavus Investment Limited: £297,587 (2023: £179,139)
WEB Capital Limited: £0 (2023: £42,625). This loan has been written off as irrecoverable in the year.
Xajio Investors Ltd: £369,809 (2023: £359,319)
Wainbridge Estates Belgravia Leasing Company Limited: £1,980 (2023: £1,980)
With the exception of the amount owed by Xajio Investors Ltd which has interest payable at 3% per annum, the loans owing to the company outlined above are non-interest bearing and repayable on demand.