ACCOUNTS - Final Accounts preparation

Company Registration Number: 11380464

WJ COMMERCIAL IP LIMITED

UNAUDITED

FINANCIAL STATEMENTS

31 DECEMBER 2025

WJ COMMERCIAL IP LIMITED

REGISTERED NUMBER: 11380464

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2025

		2025		2024
Note		£		£

Fixed assets
Intangible assets	4		1,201		1,501
			1,201		1,501
Current assets
Debtors	5	303,972		211,313
Cash at bank and in hand	6	628		4,700
		304,600		216,013
Creditors: amounts falling due within one year	7	(47,528)		(116,405)
Net current assets			257,072		99,608
Total assets less current liabilities			258,273		101,109

Net assets			258,273		101,109

Capital and reserves
Called up share capital	85	85
Profit and loss account	258,188	101,024
	258,273	101,109

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WJ COMMERCIAL IP LIMITED

REGISTERED NUMBER: 11380464

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2025

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 by:

................................................

E M Eggleston

Director

Date: 7 July 2026

The notes on pages 3 to 6 form part of these financial statements.

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WJ COMMERCIAL IP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1.	General information

The Company is a private company limited by shares and registered in England and Wales. The registered office address is 3 Burma Drive, Marfleet Industrial Estate, Hull, East Yorkshire, England, HU9 5SD.

These financial statements have been presented in Pound Sterling ('£') as this is the currency of the primary economic environment in which the Company operates and have been rounded to the nearest pound.

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 following principal accounting policies have been applied:

2.2

Going concern

The Directors prepare forecasts and budgets and conclude that the company has sufficient resource to continue for at least 12 months from the signing of these financial statements. Therefore, the accounts have been prepared on a going concern basis.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

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WJ COMMERCIAL IP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.4

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.

If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

2.5

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 reporting date in the countries where the Company operates and generates income.

2.6

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

The estimated useful lives range as follows:

Development expenditure

years

2.7

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

2.8

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.

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WJ COMMERCIAL IP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.9

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.

2.10

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.

Employees

The average monthly number of employees, including directors, during the year was 2 (2024 - 2).

4.	Intangible assets

		Development expenditure
		£
	Cost
	At 1 January 2025	71,289
	At 31 December 2025	71,289
	Amortisation
	At 1 January 2025	69,788
	Charge for the year on owned assets	300
	At 31 December 2025	70,088
	Net book value
	At 31 December 2025	1,201

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WJ COMMERCIAL IP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Debtors

					2025	2024
					£	£

Due after more than one year
Other debtors	295,452	-
	295,452	-
Due within one year
Other debtors	-	90,042
Prepayments and accrued income	8,520	121,271
	303,972	211,313

6.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	628	4,700
	628	4,700

7.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	-	172
Corporation tax	39,278	-
Other taxation and social security	5,700	148
Accruals and deferred income	2,550	116,085
	47,528	116,405

8.	Related party transactions
	Included in other debtors are amounts owed by companies with common directors of £295,452 (2024 - £76,908).

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