IRIS Accounts Production v22.1.4.3 08527081 Board of Directors 1.1.21 31.12.21 31.12.21 6.9.22 0 false true false false true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure085270812020-12-31085270812021-12-31085270812021-01-012021-12-31085270812019-12-31085270812020-01-012020-12-31085270812020-12-3108527081ns16:EnglandWales2021-01-012021-12-3108527081ns15:PoundSterling2021-01-012021-12-3108527081ns11:Director12021-01-012021-12-3108527081ns11:PrivateLimitedCompanyLtd2021-01-012021-12-3108527081ns11:SmallEntities2021-01-012021-12-3108527081ns11:Audited2021-01-012021-12-3108527081ns11:SmallCompaniesRegimeForDirectorsReport2021-01-012021-12-3108527081ns11:SmallCompaniesRegimeForAccounts2021-01-012021-12-3108527081ns11:FullAccounts2021-01-012021-12-3108527081ns11:Director22021-01-012021-12-3108527081ns11:RegisteredOffice2021-01-012021-12-3108527081ns6:CurrentFinancialInstruments2021-12-3108527081ns6:CurrentFinancialInstruments2020-12-3108527081ns6:ShareCapital2021-12-3108527081ns6:ShareCapital2020-12-3108527081ns6:RetainedEarningsAccumulatedLosses2021-12-3108527081ns6:RetainedEarningsAccumulatedLosses2020-12-3108527081ns6:WithinOneYearns6:CurrentFinancialInstruments2021-12-3108527081ns6:WithinOneYearns6:CurrentFinancialInstruments2020-12-31
REGISTERED NUMBER: 08527081 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

WTS ENERGY UK LIMITED

WTS ENERGY UK LIMITED (REGISTERED NUMBER: 08527081)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


WTS ENERGY UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2021







DIRECTORS: F A Douglas-Home
W I Fernhout





REGISTERED OFFICE: Fourth Floor St James House
St James' Square
Cheltenham
GL50 3PR





REGISTERED NUMBER: 08527081 (England and Wales)





AUDITORS: Byrd Link Audit & Accountancy Services Limited
Honeybourne Place
Jessop Avenue
Cheltenham
Gloucestershire
GL50 3SH

WTS ENERGY UK LIMITED (REGISTERED NUMBER: 08527081)

BALANCE SHEET
31 DECEMBER 2021

2021 2020
Notes £    £   
CURRENT ASSETS
Stocks - 7,539
Debtors: amounts falling due within
one year

4

1,000,855

937,670
Cash at bank 4,555 33,950
1,005,410 979,159
CREDITORS
Amounts falling due within one year 5 424,013 437,868
NET CURRENT ASSETS 581,397 541,291
TOTAL ASSETS LESS CURRENT
LIABILITIES

581,397

541,291

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 581,297 541,191
SHAREHOLDERS' FUNDS 581,397 541,291

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 September 2022 and were signed on its behalf by:





W I Fernhout - Director


WTS ENERGY UK LIMITED (REGISTERED NUMBER: 08527081)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021


1. STATUTORY INFORMATION

Wts Energy UK Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Work in progress
Work in progress has been valued at the lower of cost and the estimated service price less costs to sell. Work in progress includes costs incurred during the year that are considered recoverable post year end.

WTS ENERGY UK LIMITED (REGISTERED NUMBER: 08527081)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Basic financial assets and liabilities that are payable or receivable within one year, typically trade payables and receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received.

Taxation
Taxation for the year 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 year 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.

Foreign currency translation
The company's functional and presentational currency is GBP.

Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Nonmonetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

WTS ENERGY UK LIMITED (REGISTERED NUMBER: 08527081)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


2. ACCOUNTING POLICIES - continued

Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for a period of at least twelve months from the date of signing this report.

Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.

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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - NIL ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 76,018 106,711
Amounts owed by group undertakings 875,423 792,999
Other debtors 2,379 37,960
Wage tax paid 6,510 -
VAT 34,045 -
Prepayments 6,480 -
1,000,855 937,670

WTS ENERGY UK LIMITED (REGISTERED NUMBER: 08527081)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade creditors - 35,844
Amounts owed to group undertakings 394,690 394,330
Corporation tax 9,712 2,223
Social security and other taxes 6,273 5,471
Other creditors 11,718 -
Accrued expenses 1,620 -
424,013 437,868

6. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Russel Byrd FCA FCCA (Senior Statutory Auditor)
for and on behalf of Byrd Link Audit & Accountancy Services Limited

7. RELATED PARTY DISCLOSURES

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.

8. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of WTS Energy Holding B.V., a company incorporated in the Netherlands.

The smallest group in which the results of the company are consolidated is that headed by WTS Energy Holding B.V. The consolidated financial statements may be obtained from Koninginnegracht 23, 2514 AB, The Hague, The Netherlands.