Company Registration No. 13078217 (England and Wales)
Eighth Wonder Holdings Ltd
Unaudited accounts
for the year ended 31 December 2022
Eighth Wonder Holdings Ltd
Unaudited accounts
Contents
Eighth Wonder Holdings Ltd
Company Information
for the year ended 31 December 2022
Directors
A Challita
M Abi Ramia
Company Number
13078217 (England and Wales)
Registered Office
71-75 Shelton Street
London
WC2H 9JQ
England
Accountants
A K Butler Limited
21 Windsor Drive
Sittingbourne
Kent
ME10 1UN
Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
Eighth Wonder Holdings Ltd
for the year ended 31 December 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Eighth Wonder Holdings Ltd for the year ended
31 December 2022 as set out on pages
5 -
8 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
A K Butler Limited
Chartered Certified Accountants
21 Windsor Drive
Sittingbourne
Kent
ME10 1UN
22 September 2023
Eighth Wonder Holdings Ltd
Statement of financial position
as at 31 December 2022
Investment property
1,663,353
1,482,802
Investments
3,185,967
2,192,132
Cash at bank and in hand
27,080
46,040
Creditors: amounts falling due within one year
(4,023,496)
(3,459,727)
Net current liabilities
(698,278)
(1,220,146)
Total assets less current liabilities
966,222
262,656
Creditors: amounts falling due after more than one year
(749,610)
-
Provisions for liabilities
Net assets
216,612
218,245
Called up share capital
4
4
Profit and loss account
216,608
218,241
Shareholders' funds
216,612
218,245
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 22 September 2023 and were signed on its behalf by
A Challita
Director
Company Registration No. 13078217
Eighth Wonder Holdings Ltd
Notes to the Accounts
for the year ended 31 December 2022
Eighth Wonder Holdings Ltd is a private company, limited by shares, registered in England and Wales, registration number 13078217. The registered office is 71-75 Shelton Street, London, WC2H 9JQ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain assets.
The accounts are presented in £ sterling.
Turnover represents rental income and is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% reducing balance
Investment property is included at market fair value. Gains/losses are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Current Asset Investments
Current asset investments are included at fair value.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Eighth Wonder Holdings Ltd
Notes to the Accounts
for the year ended 31 December 2022
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
4
Tangible fixed assets
Computer equipment
Fair value at 1 January 2022
1,482,802
Net loss from fair value adjustments
(15,000)
At 31 December 2022
1,663,353
Investment property was valued on an open market basis by the director on 31st December 2022 at £1,663,353 (2021 - £1,482,802). If it had not been revalued it would have been included at its historical cost of £1,691,075.
Included within investment property is a property valued at cost of £nil (2021 - £502,802) which had exchanged contracts but not completed until after the end of the financial year. The corresponding liability is shown within other creditors due within one year.
Amounts falling due within one year
Accrued income and prepayments
374
263
7
Investments held as current assets
2022
2021
Listed investments
3,185,967
2,192,132
Eighth Wonder Holdings Ltd
Notes to the Accounts
for the year ended 31 December 2022
8
Creditors: amounts falling due within one year
2022
2021
Taxes and social security
6,999
4,326
Loans from directors
4,001,798
3,000,869
Deferred income
11,444
772
9
Creditors: amounts falling due after more than one year
2022
2021
Creditors due after more than one year include interest only mortgages on investment properties totalling £749,610 (2021 - £nil).
Allotted, called up and fully paid:
1 Ordinary A shares of £1 each
1
1
1 Ordinary B shares of £1 each
1
1
1 Ordinary C shares of £1 each
1
1
1 Ordinary D shares of £1 each
1
1
11
Transactions with related parties
Included within other creditors due within one year is an interest free loan from the directors amouting to £4,001,798 (2021 - £3,000,869).
12
Average number of employees
During the year the average number of employees was 1 (2021: 0).