Company Registration No. 12473551 (England and Wales)
WJG Lifestyle Limited
Unaudited accounts
for the year ended 30 August 2024
WJG Lifestyle Limited
Unaudited accounts
Contents
WJG Lifestyle Limited
Company Information
for the year ended 30 August 2024
Directors
Andrew Gale
Phillippa Gale
Charles Gale
Company Number
12473551 (England and Wales)
Registered Office
4B Lynx Business Park
Snailwell
CB8 7NY
United Kingdom
Accountants
TFA Partners Ltd
Chartered Tax Advisers
4B Lynx Business Park, Fordham Road
Snailwell
Newmarket
Cambridgeshire
CB8 7NY
WJG Lifestyle Limited
Statement of financial position
as at 30 August 2024
Investment property
700,000
700,000
Cash at bank and in hand
7,011
16,254
Creditors: amounts falling due within one year
(306,220)
(320,092)
Net current liabilities
(299,209)
(303,838)
Total assets less current liabilities
400,791
396,162
Creditors: amounts falling due after more than one year
(498,362)
(498,709)
Net liabilities
(97,571)
(102,547)
Called up share capital
1
1
Fair value reserve
22,117
22,117
Profit and loss account
(119,689)
(124,665)
Shareholders' funds
(97,571)
(102,547)
For the year ending 30 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 26 August 2025 and were signed on its behalf by
Phillippa Gale
Director
Company Registration No. 12473551
WJG Lifestyle Limited
Notes to the Accounts
for the year ended 30 August 2024
WJG Lifestyle Limited is a private company, limited by shares, registered in England and Wales, registration number 12473551. The registered office is 4B Lynx Business Park, Snailwell, CB8 7NY, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The accounts are prepared on the going concern basis. The company is significantly funded by the company directors who confirm that they will continue their support of the company for the next 12 months and beyond.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Fair value at 31 August 2023
700,000
Investment property is held in the accounts at fair value, derived from the current market value for comparable real estate determined annually by the company directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the property.
Changes in fair value are recognised in the profit and loss account and recorded in the fair value reserve.
WJG Lifestyle Limited
Notes to the Accounts
for the year ended 30 August 2024
5
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
641
928
Loans from directors
304,389
305,264
6
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
498,362
498,709
7
Deferred taxation
2024
2023
Revaluation of investment property
5,529
4,202
Tax losses carried forward
(5,529)
(4,202)
Increase in deferred tax arising on revaluation of investment property arises due to a change in the main rate of corporation tax from 19% (2023) to 25% (2024).
The company has sufficient property losses carried forward to offset the potential deferred tax liability.
8
Average number of employees
During the year the average number of employees was 3 (2023: 3).