Ward Divecha Limited - Filleted accounts

Registered number

03908945

Ward Divecha Limited

Report & Accounts

31 December 2024

Ward Divecha Ltd

29 Welbeck Street

London

W1G 8DA

Ward Divecha Limited
Registered number:		03908945
Balance Sheet
for the year ended 31 December 2024

Notes			2024			2023
£				£
Fixed assets
Intangible assets	3		236,655			236,655
Tangible assets	4		507,835			498,681
Investments	5		211,065			211,065
			955,555			946,401

Current assets
Debtors	6	152,381			166,384
Cash at bank and in hand		3,039			76
		155,420			166,460

Creditors: amounts falling due within one year	7	(429,151)			(419,522)

Net current liabilities			(273,731)			(253,062)

Total assets less current liabilities			681,824			693,339

Creditors: amounts falling due after more than one year	8		(35,802)			(43,788)
Ward R&DBenefitScheme			(200,000)			(200,000)


Net assets			446,022			449,551

Capital and reserves
Called up share capital			1,000			1,000
Profit and loss account			445,022			448,551

Shareholders' funds			446,022			449,551

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.



A R Divecha
Director
Approved by the board on 31 March 2025

Ward Divecha Limited
Statement of Changes in Equity
for the year ended 31 December 2024

Share		Profit		Total
capital		and loss
account
£		£		£

At 1 January 2023	1,000		443,544		444,544

Profit for the financial year			5,007		5,007


At 31 December 2023	1,000		448,551		449,551



At 1 January 2024	1,000		448,551		449,551

Loss for the financial year			(3,529)		(3,529)


At 31 December 2024	1,000		445,022		446,022

Ward Divecha Limited
Notes to the Accounts
for the year ended 31 December 2024

1	Accounting policies

	Basis of preparation
	These financial statements have been prepared under the historical cost convention and in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The presentation currency is GB Pounds.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. No amoritzation carried out for the current year.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery	20% written down value

	Investments
	Investments in unquoted equity instruments are measured at fair value. Changes in fair value are recognised in profit or loss. Fair value is estimated by using a valuation technique.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees			2024		2023
Number					Number

	Average number of persons employed by the company			6		6


3	Intangible fixed assets					£
	Goodwill:

	Cost
	At 1 January 2024					700,000
	as at 15 October 2022					700,000

	Amortisation
	At 1 January 2024					463,345
	as at 15 October 2022					463,345

	Net book value
	as at 15 October 2022					236,655
	At 31 December 2023					236,655

	Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.


4	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Total
£			£		£
	Cost
	At 1 January 2024	447,656		195,119		642,775
	Additions	2,250		6,904		9,154
	as at 15 October 2022	449,906		202,023		651,929

	Depreciation
	At 1 January 2024	-		144,094		144,094
	as at 15 October 2022	-		144,094		144,094

	Net book value
	as at 15 October 2022	449,906		57,929		507,835
	At 31 December 2023	447,656		51,025		498,681


5	Investments

Other
investments
£
	Cost
	At 1 January 2024					211,065

	as at 15 October 2024					211,065


6	Debtors			2024		2023
£					£

	Trade debtors			66,771		80,774
	Other debtors			85,610		85,610
				152,381		166,384


7	Creditors: amounts falling due within one year			2024		2023
£					£

	Bank loans and overdrafts			45,517		2,165
	Trade creditors			12,706		2,579
	Other taxes and social security costs			20,557		18,030
	Other creditors			350,371		396,748
				429,151		419,522


8	Creditors: amounts falling due after one year			2024		2023
£					£

	Bank loans			35,802		43,788


9	Related party transactions

	Mr A R Divecha is also a 100% shareholder and director of WDFS Ltd., registered with FCA, to whom the company rented office accomodation and provided other services at a cost £87,500 (2023: £92,000). As at 31 December 2024 the amout due to WDFS Limited was £269,745 (2023: £256,648).

10	Controlling party

	The director Mr A R Divecha is the controlling party by virtue of his shareholdings.

	29 Welbeck Street
	London
	W1G 8 DA