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COMPANY REGISTRATION NUMBER: 13221857
WSA Capital Partners Limited
Filleted Unaudited Financial Statements
30 June 2024
WSA Capital Partners Limited
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
Fixed assets
Investments
4
1,214,431
877,521
Current assets
Debtors
5
5,269
3
Cash at bank and in hand
1,399
4,422
-------
-------
6,668
4,425
Creditors: amounts falling due within one year
6
1,890
121,131
-------
---------
Net current assets/(liabilities)
4,778
( 116,706)
------------
---------
Total assets less current liabilities
1,219,209
760,815
Creditors: amounts falling due after more than one year
7
1,911,428
1,010,848
------------
------------
Net liabilities
( 692,219)
( 250,033)
------------
------------
Capital and reserves
Called up share capital
3
3
Profit and loss account
( 692,222)
( 250,036)
---------
---------
Shareholders deficit
( 692,219)
( 250,033)
---------
---------
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 income and retained earnings has not been delivered.
For the year ending 30 June 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 .
WSA Capital Partners Limited
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 30 June 2025 , and are signed on behalf of the board by:
M S Iarchy
Director
Company registration number: 13221857
WSA Capital Partners Limited
Notes to the Financial Statements
Year ended 30 June 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 1st Floor, 32 Wigmore Street, London, W1U 2RP.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Going concern
The company is showing net liabilities amounting to £692,219 which includes £1,085,063 owed to Aldebaran Aviation Limited which is not due for repayment until 31 December 2026. Therefore the directors of the company believe that preparing the accounts on a going concern basis is wholly appropriate.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
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. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Investments
Other investments other than loans
Other loans
Total
£
£
£
Cost or Valuation
At 1 July 2023
877,521
877,521
Additions
35,740
641,481
677,221
Revaluations
( 340,311)
( 340,311)
---------
---------
------------
At 30 June 2024
572,950
641,481
1,214,431
---------
---------
------------
Impairment
At 1 July 2023 and 30 June 2024
---------
---------
------------
Carrying amount
At 30 June 2024
572,950
641,481
1,214,431
---------
---------
------------
At 30 June 2023
877,521
877,521
---------
---------
------------
5. Debtors
2024
2023
£
£
Other debtors
5,269
3
-------
----
6. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
1,890
121,131
-------
---------
7. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
1,911,428
1,010,848
------------
------------
8. Financial instruments
The carrying amount for each category of financial instrument is as follows:
2024
2023
£
£
Financial assets measured at fair value through profit or loss
Financial assets measured at fair value through profit or loss
285,719
626,030
---------
---------
9. Related party transactions
At the year end, included within other creditors was a loan of £826,365 (2023: £119,511) from World Star Aviation (UK) Limited. World Star Aviation (UK) Limited is a company incorporated in the UK and has controlling shareholders in common.