Wold Island Limited 12489363 false 2024-02-01 2025-01-31 2025-01-31 The principal activity of the company is Mangement consultancy activities other than financial management. Digita Accounts Production Advanced 6.30.9574.0 true 12489363 2024-02-01 2025-01-31 12489363 2025-01-31 12489363 bus:OrdinaryShareClass1 2025-01-31 12489363 bus:OrdinaryShareClass2 2025-01-31 12489363 bus:OrdinaryShareClass3 2025-01-31 12489363 bus:OrdinaryShareClass4 2025-01-31 12489363 core:RetainedEarningsAccumulatedLosses 2025-01-31 12489363 core:ShareCapital 2025-01-31 12489363 core:HirePurchaseContracts core:CurrentFinancialInstruments 2025-01-31 12489363 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2025-01-31 12489363 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2025-01-31 12489363 core:CurrentFinancialInstruments 2025-01-31 12489363 core:CurrentFinancialInstruments core:WithinOneYear 2025-01-31 12489363 core:Non-currentFinancialInstruments 2025-01-31 12489363 core:Non-currentFinancialInstruments core:AfterOneYear 2025-01-31 12489363 core:FurnitureFittingsToolsEquipment 2025-01-31 12489363 core:LandBuildings 2025-01-31 12489363 core:MotorVehicles 2025-01-31 12489363 bus:SmallEntities 2024-02-01 2025-01-31 12489363 bus:AuditExemptWithAccountantsReport 2024-02-01 2025-01-31 12489363 bus:FilletedAccounts 2024-02-01 2025-01-31 12489363 bus:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 12489363 bus:RegisteredOffice 2024-02-01 2025-01-31 12489363 bus:Director4 2024-02-01 2025-01-31 12489363 bus:OrdinaryShareClass1 2024-02-01 2025-01-31 12489363 bus:OrdinaryShareClass2 2024-02-01 2025-01-31 12489363 bus:OrdinaryShareClass3 2024-02-01 2025-01-31 12489363 bus:OrdinaryShareClass4 2024-02-01 2025-01-31 12489363 bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 12489363 core:FurnitureFittings 2024-02-01 2025-01-31 12489363 core:FurnitureFittingsToolsEquipment 2024-02-01 2025-01-31 12489363 core:LandBuildings 2024-02-01 2025-01-31 12489363 core:MotorVehicles 2024-02-01 2025-01-31 12489363 core:PlantMachinery 2024-02-01 2025-01-31 12489363 countries:England 2024-02-01 2025-01-31 12489363 2024-01-31 12489363 core:FurnitureFittingsToolsEquipment 2024-01-31 12489363 core:LandBuildings 2024-01-31 12489363 core:MotorVehicles 2024-01-31 12489363 2023-02-01 2024-01-31 12489363 2024-01-31 12489363 bus:OrdinaryShareClass1 2024-01-31 12489363 bus:OrdinaryShareClass2 2024-01-31 12489363 bus:OrdinaryShareClass3 2024-01-31 12489363 bus:OrdinaryShareClass4 2024-01-31 12489363 core:RetainedEarningsAccumulatedLosses 2024-01-31 12489363 core:ShareCapital 2024-01-31 12489363 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-01-31 12489363 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-01-31 12489363 core:CurrentFinancialInstruments 2024-01-31 12489363 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 12489363 core:Non-currentFinancialInstruments 2024-01-31 12489363 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 12489363 core:FurnitureFittingsToolsEquipment 2024-01-31 12489363 core:LandBuildings 2024-01-31 12489363 core:MotorVehicles 2024-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12489363

Wold Island Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2025

 

Wold Island Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 7

 

Wold Island Limited

(Registration number: 12489363)
Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

527,404

549,649

Investment property

5

415,000

619,393

Other financial assets

6

1

1

 

942,405

1,169,043

Current assets

 

Debtors

7

47,323

48,057

Cash at bank and in hand

 

290,013

102,068

 

337,336

150,125

Creditors: Amounts falling due within one year

8

(132,773)

(123,682)

Net current assets

 

204,563

26,443

Total assets less current liabilities

 

1,146,968

1,195,486

Creditors: Amounts falling due after more than one year

8

(737,382)

(785,900)

Provisions for liabilities

(29,192)

(26,493)

Net assets

 

380,394

383,093

Capital and reserves

 

Called up share capital

9

1,003

1,003

Retained earnings

379,391

382,090

Shareholders' funds

 

380,394

383,093

For the financial year ending 31 January 2025 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 accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 July 2025 and signed on its behalf by:
 

.........................................
Mrs M Avis
Director

 

Wold Island Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1

General information

The Company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 4b
Pelham Industrial Estate
Manby Road
Immingham
DN40 2SE

These financial statements were authorised for issue by the Board on 28 July 2025.

2

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 (as applicable to companies subject to the small companies' regime).

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 have been prepared in sterling and are rounded to the nearest pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Wold Island Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and Buildings

2% Straight line

Plant and Machinery

25% Reducing balance

Furniture and fittings

10% Straight line

Motor Vehicles

25% Reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

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.

 

Wold Island Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Borrowings

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 4 (2024 - 4).

 

Wold Island Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2024

462,960

59,489

114,497

636,946

Additions

-

-

18,995

18,995

Disposals

-

-

(5,500)

(5,500)

At 31 January 2025

462,960

59,489

127,992

650,441

Depreciation

At 1 February 2024

26,234

22,605

38,457

87,296

Charge for the year

9,259

8,154

22,176

39,589

Eliminated on disposal

-

-

(3,848)

(3,848)

At 31 January 2025

35,493

30,759

56,785

123,037

Carrying amount

At 31 January 2025

427,467

28,730

71,207

527,404

At 31 January 2024

436,725

36,884

76,040

549,649

Included within the net book value of land and buildings above is £427,467 (2024 - £436,725) in respect of freehold land and buildings.
 

5

Investment properties

2025
£

At 1 February

619,392

Disposals

(204,392)

At 31 January

415,000

There has been no valuation of investment property by an independent valuer.

 

Wold Island Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

6

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 February 2024

1

1

At 31 January 2025

1

1

Impairment

Carrying amount

At 31 January 2025

1

1

7

Debtors

Current

2025
£

2024
£

Trade debtors

30,000

31,415

Prepayments

829

-

Other debtors

16,494

16,642

 

47,323

48,057

8

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

10

49,894

47,913

Trade creditors

 

10,797

33,010

Taxation and social security

 

68,781

39,447

Accruals and deferred income

 

3,300

2,399

Other creditors

 

1

913

 

132,773

123,682

Creditors include other loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £48,518 (2024 - £47,884).

 

Wold Island Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

10

737,382

785,900

-

-

Creditors include other loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £737,382 (2024 - £785,900).

The other loans and hire purchase contracts are secured against the assets they fund.

The aggregate amount of secured liabilities total of £785,900 (2024 - £833,784).

Creditors include other loans repayable by instalments of £580,653 (2024 - £618,757) due after more than five years.

9

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary of £1 each

1,000

1,000

1,000

1,000

Ordinary A of £1 each

1

1

1

1

Ordinary B of £1 each

1

1

1

1

Ordinary C of £1 each

1

1

1

1

1,003

1,003

1,003

1,003

10

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Hire purchase contracts

8,872

22,195

Other borrowings

728,510

763,705

737,382

785,900

Current loans and borrowings

2025
£

2024
£

Hire purchase contracts

13,323

13,323

Other borrowings

36,571

34,590

49,894

47,913