|
Registered number: 00674996
WESDOM INVESTMENTS LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2025
|
|
WESDOM INVESTMENTS LIMITED
REGISTERED NUMBER: 00674996
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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:
................................................
M Pugh
|
|
|
|
|
|
|
The notes on pages 2 to 6 form part of these financial statements.
|
|
WESDOM INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Wesdom Investments Limited is a private company, limited by shares, incorporated and registered in England and Wales. The Company's registered number is 00674996 and registered office address is London House, 9a Margaret Street, London, England, W1W 8RJ. The Company's trading address is 20 Hallam Street, London, England, W1N 5LF.
The principal activity of the Company is the provision of a hotel.
2.Accounting policies
|
|
|
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:
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 financial statements are prepared on a going concern basis. The Statement of Comprehensive Income shows that the Company made a loss in the year of £703,046 (2024: profit of £184,513) with a net liability position of £4,801,995 (2024: £4,098,949). Despite this loss, the Company is EBITDA positive.
Furthermore, on 29 January 2026, an amount of £6,568,075 included in amounts owed to group undertakings, due to STL UK Group Holdings Limited, was converted to equity, resulting in the Company being in a net asset position post year end.
The directors consider that they have sufficient mitigating actions available to them to manage the business risks successfully despite the current economic climate. Accordingly, the directors believe the going concern basis is appropriate as the basis of preparation for these financial statements.
|
|
|
Operating leases: the Company as lessee
|
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Interest income is recognised in profit or loss using the effective interest method.
|
|
WESDOM INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.
Short-term debtors are measured at transaction price, less any impairment.
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
|
|
WESDOM INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Short-term creditors are measured at the transaction price.
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
|
|
The average monthly number of employees, including directors, during the year was 10 (2024 - 9).
|
|
|
WESDOM INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
|
|
Creditors: amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts owed to group undertakings
|
|
|
|
|
Other taxation and social security
|
|
|
|
|
|
|
|
|
|
Accruals and deferred income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts owed to group undertakings are unsecured, interest free and repayable on demand.
|
|
|
Prior year reclassification
|
Comparative amounts have been reclassified to conform with the current year's presentation as follows:
As previously Movement As restated
stated
£ £ £
Accruals (71,447)(105,806)(177,253)
Trade debtors -34,93634,936
Other creditors (70,870)70,870-
The reclassification has no impact on profit, net assets or shareholders' funds.
|
|
WESDOM INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
|
|
Commitments under operating leases
|
|
|
At 31 December 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Later than 1 year and not later than 5 years
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Post balance sheet events
|
On 29 January 2026, an amount of £6,568,075 inlcuded in amounts owed to group undertakings, due to STL UK Group Holdings Limited, was converted to equity.
The immediate parent undertaking is STL UK Group Holdings Limited, a company incorporated in Guernsey. Its company number is FC036329 and registered office address is 4th Floor West Wing Trafalgar Court, Admiral Park, St Peters Port, Guernsey.
The ultimate parent undertaking is The Li Family Settlement, a Trust governed by Jersey Law.
The ultimate controlling party is considered to be STL PTC 2 Ltd.
The auditors' report on the financial statements for the year ended 31 December 2025 was unqualified.
The audit report was signed on 27 August 2026 by Jake Pearlman (Senior Statutory Auditor) on behalf of HaysMac LLP.
|