| REGISTERED NUMBER: |
| Financial Statements |
| for the Period |
| 12 October 2023 to 31 December 2024 |
| for |
| W EXECUTIVE UK LIMITED |
| REGISTERED NUMBER: |
| Financial Statements |
| for the Period |
| 12 October 2023 to 31 December 2024 |
| for |
| W EXECUTIVE UK LIMITED |
| W EXECUTIVE UK LIMITED (REGISTERED NUMBER: 15207872) |
| Contents of the Financial Statements |
| for the Period 12 October 2023 to 31 December 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| W EXECUTIVE UK LIMITED |
| Company Information |
| for the Period 12 October 2023 to 31 December 2024 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| 42 Lytton Road |
| Barnet |
| Hertfordshire |
| EN5 5BY |
| W EXECUTIVE UK LIMITED (REGISTERED NUMBER: 15207872) |
| Balance Sheet |
| 31 December 2024 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | 7 | ( |
) |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the director and authorised for issue on |
| W EXECUTIVE UK LIMITED (REGISTERED NUMBER: 15207872) |
| Notes to the Financial Statements |
| for the Period 12 October 2023 to 31 December 2024 |
| 1. | STATUTORY INFORMATION |
| W Executive UK Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| The financial statements are prepared to the nearest whole pound £ GBP. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Taxation |
| Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| W EXECUTIVE UK LIMITED (REGISTERED NUMBER: 15207872) |
| Notes to the Financial Statements - continued |
| for the Period 12 October 2023 to 31 December 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Going concern |
| The group embarked on an ambitious development plan which involved the creation of a UK company operation. As such the losses incurred at the outset were anticipated. The director and parent company are committed to ensuring that the business model of the group and its subsidiaries will work and have engaged fully with the financial function to ensure robust and achievable forecasts are being delivered together with up to date information regarding the trading position. As a result of the board taking action in regards to creating a share position in exchange for the parent company loans, Creating a more sustainable structure. Which the director believes will enable the company and to meet its liabilities as they fall due and continue to trade as a going concern. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machiner |
| etc |
| £ |
| COST |
| Additions |
| At 31 December 2024 |
| DEPRECIATION |
| Charge for period |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| W EXECUTIVE UK LIMITED (REGISTERED NUMBER: 15207872) |
| Notes to the Financial Statements - continued |
| for the Period 12 October 2023 to 31 December 2024 |
| 7. | RESERVES |
| Retained |
| earnings |
| £ |
| Deficit for the period | ( |
) |
| At 31 December 2024 | ( |
) |
| 8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 9. | CAPITAL COMMITMENTS |
| 2024 |
| £ |
| Car rental |
| < 1 year | 67,280 |
| 1-2 year | 67,280 |
| >2-5 year | 95,503 |
| Total | 227,063 |
| 10. | RELATED PARTY DISCLOSURES |
| Included with creditors are amounts due to companies within the group, MAW SPA £723,975 W Executive S.R.L £9,374.. |
| 11. | AUDITOR LIABILITY LIMITATION AGREEMENT |
| The directors have agreed to a limited liability arrangement with the auditors, the principle terms being that the liability is restricted to five times the annual audit fee. |
| 12. | ULTIMATE CONTROLLING PARTY |
| The directors do not consider that there is any one party holding a controlling position in the ultimate parent company. |
| The immediate parent company is W Group Holding spa a company registered in Italy. Copies of the group consolidated accounts can be obtained.from the registered office Via P. Nenni 18 – 25124 BRESCIA. |