ACCOUNTS - Final Accounts

Registered number: 08232877

WF MARKETS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

WF MARKETS LIMITED

Company Information

Directors	T M Darby
	N G Hobday


Registered number	08232877


Registered office	59 Stoke Road
	Blisworth
	England
	NN7 3BZ

WF MARKETS LIMITED

Registered number: 08232877

Balance sheet

As at 30 September 2024

		2024		2023
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	180,270		60,440
Cash at bank and in hand	5	237,632		555,196
		417,902		615,636
Creditors: amounts falling due within one year	6	(73,169)		(96,971)
Net current assets			344,733		518,665
Total assets less current liabilities			344,733		518,665

Net assets			344,733		518,665

Capital and reserves
Called up share capital	1	1
Profit and loss account	344,732	518,664
	344,733	518,665

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 October 2025.

T M Darby

Director

The notes on pages 3 to 7 form part of these financial statements.

Page 1

WF MARKETS LIMITED

Statement of changes in equity

For the Year Ended 30 September 2024

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 October 2023	1	518,664	518,665
Comprehensive income for the year
Loss for the year	-	(171,932)	(171,932)
Total comprehensive income for the year	-	(171,932)	(171,932)
Contributions by and distributions to owners
Dividends: Equity capital	-	(2,000)	(2,000)
At 30 September 2024	1	344,732	344,733

The notes on pages 3 to 7 form part of these financial statements.

Statement of changes in equity

For the Year Ended 30 September 2023

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 October 2022	1	1,300,965	1,300,966
Comprehensive income for the year
Loss for the year	-	(769,266)	(769,266)
Total comprehensive income for the year	-	(769,266)	(769,266)
Contributions by and distributions to owners
Dividends: Equity capital	-	(13,035)	(13,035)
Total transactions with owners	-	(13,035)	(13,035)
At 30 September 2023	1	518,664	518,665

The notes on pages 3 to 7 form part of these financial statements.

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WF MARKETS LIMITED

Notes to the financial statements

For the Year Ended 30 September 2024

1.	General information

WF Markets Limited is a private company limited by shares incorporated in England and Wales. The registered office address is 59 Stoke Road, Blisworth, Northamptonshire, England, NN7 3BZ.

The principal activity of the company is that of operating and managing of market sites.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The following principal accounting policies have been applied:

2.2

Revenue

Turnover represents the letting of market sites.

2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

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WF MARKETS LIMITED

Notes to the financial statements

For the Year Ended 30 September 2024

2.Accounting policies (continued)

2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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WF MARKETS LIMITED

Notes to the financial statements

For the Year Ended 30 September 2024

2.Accounting policies (continued)

2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

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WF MARKETS LIMITED

Notes to the financial statements

For the Year Ended 30 September 2024

2.Accounting policies (continued)

2.10

Financial instruments (continued)

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 7).

Debtors

					2024	2023
					£	£


Trade debtors	-	6,252
Other debtors	180,270	53,490
Prepayments	-	698
	180,270	60,440

5.	Cash and cash equivalents
		2024	2023
		£	£

Cash at bank and in hand	237,632	555,196
	237,632	555,196

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WF MARKETS LIMITED

Notes to the financial statements

For the Year Ended 30 September 2024

6.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Bank loans	-	1,454
Trade creditors	18,044	21,638
Corporation tax	46,425	61,182
Accruals and deferred income	8,700	12,697
	73,169	96,971

7.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

1 (2023 - 1) Ordinary share of £1.00	1	1

Related party transactions

The directors of WF Markets Limited, operate a current account with the company. At the balance sheet date the directors owed the company £99,681 (2023: £45,229). No interest has been charged and the balance is repayable on demand.
At the balance sheet date, a person connected to one of the directors owed the company £35,100 (2023: £8,261). No interest has been charged and the balance is repayable on demand.

The Company has adopted the exemption by paragraph 33.1A of FRS 102 and has not disclosed transactions with other group members, where the group memebers are wholly owned.

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