Registration number:
Wingsyard Asset Management Limited
for the Year Ended 31 July 2024
Wingsyard Asset Management Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Wingsyard Asset Management Limited
Company Information
Directors |
Ms J Han Mr P Lyu |
Registered office |
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Registered number |
12764451 |
Accountants |
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Wingsyard Asset Management Limited
(Registration number: 12764451)
Balance Sheet as at 31 July 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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- |
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Investment property |
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Current assets |
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Stocks |
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- |
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Debtors |
- |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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( |
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Creditors: Amounts falling due after more than one year |
( |
- |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
(93,996) |
(579) |
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Shareholders' deficit |
(93,896) |
(479) |
Wingsyard Asset Management Limited
(Registration number: 12764451)
Balance Sheet as at 31 July 2024
For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
Directors' responsibilities:
• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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Wingsyard Asset Management Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal place of business is:
26 Peldon Court
Sheen Road
Richmond
TW9 1YT
England
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.
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.
The financial statements are presented in Sterling (£) and figures are shown to the nearest whole pound.
Going concern
The financial statements have been prepared on a going concern basis assuming that related parties of the company will continue to support the company in future.
Wingsyard Asset Management Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024
Revenue recognition
Turnover comprises the fair value of rent received or receivable on the properties and provision of services in the ordinary course of the company’s activities. Turnover is shown net of rent/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.
Investment property
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.
Stocks
Stocks comprises a property held for sale, valued at the lower of cost and estimated selling price less costs to complete and sell.
The cost of finished goods and work in progress comprises the acquisition price, direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are revalued. If stocks are revalued, and the carrying amount is reduced to its selling price less costs to complete and sell; the revaluation loss is recognised immediately in profit or loss.
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.
Borrowings
Wingsyard Asset Management Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Wingsyard Asset Management Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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Additions |
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At 31 July 2024 |
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Depreciation |
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Charge for the year |
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At 31 July 2024 |
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Carrying amount |
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At 31 July 2024 |
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Investment properties |
2024 |
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At 1 August |
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Fair value adjustments |
( |
At 31 July |
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Stocks |
2024 |
2023 |
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Other inventories |
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- |
Stock includes a property that was purchased during the year and is held for sale as at the year-end date.
Wingsyard Asset Management Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024
Debtors |
Current |
2024 |
2023 |
Prepayments |
- |
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- |
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Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
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Loans and borrowings |
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- |
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Amounts due to related parties |
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Accruals |
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Creditors: amounts falling due after more than one year
Note |
2024 |
2023 |
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Loans and borrowings |
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- |
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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|
|
100 |
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100 |
Wingsyard Asset Management Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024
Loans and borrowings |
Current loans and borrowings
2024 |
2023 |
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Bank borrowings |
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- |
Non-current loans and borrowings
2024 |
2023 |
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Bank borrowings |
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- |
A loan balance of £290,575 due to Paragon Bank PLC., repayable in 300 equal monthly instalments commencing 22/08/2022. The loan has been secured by a mortgage on the property located at 170, Sheen Court, Richmond, TW10 5DH. Interest is charged at the monthly equivalent rate of 0.14%.
Related party transactions |
At the balance sheet date, the company owed £709,446 (2023: £712,274) to Wings Medical (U.K.) Limited.
The company received a loan of £960,000 from Wings Medical (U.K.) Limited on 25th August 2020 repayable over the period of 10 years, at an interest rate of 1% per annum.
Transactions with the Director
At the balance sheet date, the company owed £1,008 (2023: £647) to Ms J Han, a director and shareholder of the company.
Parent and ultimate parent undertaking |
The ultimate controlling parties are