REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE PERIOD 1 JANUARY 2022 TO 1 JANUARY 2023 |
FOR |
WPC12 LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE PERIOD 1 JANUARY 2022 TO 1 JANUARY 2023 |
FOR |
WPC12 LIMITED |
WPC12 LIMITED (REGISTERED NUMBER: 12820976) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Period 1 JANUARY 2022 TO 1 JANUARY 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
WPC12 LIMITED |
COMPANY INFORMATION |
for the Period 1 JANUARY 2022 TO 1 JANUARY 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
and Statutory Auditor |
61 Queen Square |
Bristol |
BS1 4JZ |
WPC12 LIMITED (REGISTERED NUMBER: 12820976) |
BALANCE SHEET |
1 JANUARY 2023 |
2023 | 2021 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 6 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
WPC12 LIMITED (REGISTERED NUMBER: 12820976) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Period 1 JANUARY 2022 TO 1 JANUARY 2023 |
1. | STATUTORY INFORMATION |
WPC12 Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The accounting reference date of the company is 31 December but the financial statements have been drawn up to a Sunday within seven days of this date, which for this year, is 1 January 2023. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Financial instruments |
Financial assets and liabilities are recognised in the balance sheet when the company becomes party to the contractual provisions of the instrument. |
Trade and other debtors and creditors are classified as basic financial instruments and are measured on initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company not be able to collect all amounts due. |
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank. |
Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of any direct issue costs. |
Interest bearing loans which meet the criteria of basic financial instruments are initially recorded at the present value of cash payable to the bank, usually being equivalent to the proceeds received net of direct issue costs. These liabilities are subsequently measured at amortised cost, using the effective interest rate method. |
WPC12 LIMITED (REGISTERED NUMBER: 12820976) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 1 JANUARY 2022 TO 1 JANUARY 2023 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
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. |
Going concern |
The financial statements have been prepared on a going concern basis as the immediate parent undertaking, WPC10 Limited, has confirmed its intention to make available such funds as needed by the company to continue in operational existence for the foreseeable future, by meeting the company's liabilities as they fall due, being a period of at least twelve months from the date of approval of these financial statements. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL (2021 - NIL). |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2021 |
£ | £ |
VAT |
Prepayments and accrued income |
WPC12 LIMITED (REGISTERED NUMBER: 12820976) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 1 JANUARY 2022 TO 1 JANUARY 2023 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2021 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Accruals and deferred income |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2021 |
value: | £ | £ |
Ordinary share capital | £1 | 1 | 1 |
7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
8. | POST BALANCE SHEET EVENTS |
Since the balance sheet date, the company has purchased a freehold property which is let out. |
Ttwo charges have been granted over the freehold property, |
9. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |
The immediate parent company is WPC10 Limited and the ultimate parent company is Weight Partners Corporate Limited. |