Wardchoice Limited 30/06/2022 iXBRL
Wardchoice Limited 30/06/2022 iXBRL
Company registration number:
02819056
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Directors and other information
Directors |
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Secretary |
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Company number |
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Registered office |
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Accountants |
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45/49 Greek Street | ||
Stockport | ||
Cheshire | ||
SK3 8AX | ||
Bankers |
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753 Wilmslow Road | ||
Didsbury | ||
Manchester | ||
M20 0RN | ||
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Wardchoice Limited
Year ended 30 June 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Wardchoice Limited for the year ended 30 June 2022 which comprise the statement of financial position and related notes 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 http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of Wardchoice Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Wardchoice Limited and state those matters that we have agreed to state to the board of directors of Wardchoice Limited as a body, in this report 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. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Wardchoice Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Wardchoice Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Wardchoice Limited. You consider that Wardchoice Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Wardchoice Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Chartered Certified Accountants
45/49 Greek Street
Stockport
Cheshire
SK3 8AX
3 March 2023
Statement of financial position
30 June 2022
2022 | 2021 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Tangible assets | 5 |
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Current assets | |||||||||
Debtors | 6 |
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Cash at bank and in hand |
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Creditors: amounts falling due | |||||||||
within one year | 7 |
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Net current assets |
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Total assets less current liabilities |
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Creditors: amounts falling due | |||||||||
after more than one year | 8 |
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Provisions for liabilities |
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Net assets |
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Capital and reserves | |||||||||
Called up share capital |
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Fair value reserve |
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Profit and loss account |
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Shareholders funds |
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Directors responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
03 March 2023
, and are signed on behalf of the board by:
.........................
Director
Company registration number:
02819056
Notes to the financial statements
Year ended 30 June 2022
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Wardchoice Limited, 45/49 Greek Street, Stockport, Cheshire, SK3 8AX.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Turnover
Taxation
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery | - |
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Fittings fixtures and equipment | - |
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If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Investment property
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Financial instruments
Defined contribution plans
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2021:
3
).
5.
Tangible assets
Freehold property | Plant and machinery | Fixtures, fittings and equipment | Total | ||
£ | £ | £ | £ | ||
Cost | |||||
At 1 July 2021 and 30 June 2022 |
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Depreciation | |||||
At 1 July 2021 | - |
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Charge for the year | - |
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At 30 June 2022 | - |
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Carrying amount | |||||
At 30 June 2022 |
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- |
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At 30 June 2021 |
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- |
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Investment property
The investment property was previously revalued to its fair value of £800,000 by the directors. The directors indicate that this valuation remains appropriate at 30 June 2022. The carrying amount of the property on a historical cost basis would be £761,045.
6.
Debtors
2022 | 2021 | |||
£ | £ | |||
Trade debtors |
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Other debtors |
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7.
Creditors: amounts falling due within one year
2022 | 2021 | |||
£ | £ | |||
Bank loans and overdrafts |
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Trade creditors |
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Social security and other taxes |
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- | ||
Other creditors |
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8.
Creditors: amounts falling due after more than one year
2022 | 2021 | |||
£ | £ | |||
Bank loans and overdrafts |
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_______ | _______ | |||
9.
Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company: | ||||
2022 | ||||
Balance brought forward | Advances /(credits) to the directors | Balance o/standing | ||
£ | £ | £ | ||
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2021 | ||||
Balance brought forward | Advances /(credits) to the directors | Balance o/standing | ||
£ | £ | £ | ||
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No interest is charged on loans to or from directors and loans are repayable on demand.
10.
Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value | Balance owed by/(owed to) | ||||
2022 | 2021 | 2022 | 2021 | ||
£ | £ | £ | £ | ||
Amounts due from associated companies | - | - |
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_______ | _______ | _______ | _______ | ||
No interest is charged on loans to associated companies and loans are repayable on demand.
11.
Controlling party
The company was under the control of its directors during the year by virtue of their shareholding.