3
31/03/2023
2023-03-31
false
false
false
false
false
false
false
false
false
false
true
false
false
true
false
false
false
false
false
true
false
No description of principal activities is disclosed
2022-04-01
Sage Accounts Production 21.0 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
09342502
2022-04-01
2023-03-31
09342502
2023-03-31
09342502
2022-03-31
09342502
2021-04-01
2022-03-31
09342502
2022-03-31
09342502
2021-03-31
09342502
core:FurnitureFittingsToolsEquipment
2022-04-01
2023-03-31
09342502
core:MotorVehicles
2022-04-01
2023-03-31
09342502
core:OnerousContractsExcludingVacantProperties
2022-04-01
2023-03-31
09342502
bus:RegisteredOffice
2022-04-01
2023-03-31
09342502
bus:LeadAgentIfApplicable
2022-04-01
2023-03-31
09342502
bus:Director4
2022-04-01
2023-03-31
09342502
bus:Director5
2022-04-01
2023-03-31
09342502
bus:Director6
2022-04-01
2023-03-31
09342502
bus:Director7
2022-04-01
2023-03-31
09342502
core:FurnitureFittingsToolsEquipment
2022-03-31
09342502
core:MotorVehicles
2022-03-31
09342502
core:FurnitureFittingsToolsEquipment
2023-03-31
09342502
core:MotorVehicles
2023-03-31
09342502
core:RetainedEarningsAccumulatedLosses
2021-04-01
2022-03-31
09342502
core:RetainedEarningsAccumulatedLosses
2022-04-01
2023-03-31
09342502
core:WithinOneYear
2023-03-31
09342502
core:WithinOneYear
2022-03-31
09342502
core:ShareCapital
2023-03-31
09342502
core:ShareCapital
2022-03-31
09342502
core:RetainedEarningsAccumulatedLosses
2023-03-31
09342502
core:RetainedEarningsAccumulatedLosses
2022-03-31
09342502
core:ShareCapital
2021-03-31
09342502
core:RetainedEarningsAccumulatedLosses
2021-03-31
09342502
core:FurnitureFittingsToolsEquipment
2022-03-31
09342502
core:MotorVehicles
2022-03-31
09342502
bus:SmallEntities
2022-04-01
2023-03-31
09342502
bus:AuditExemptWithAccountantsReport
2022-04-01
2023-03-31
09342502
bus:FullAccounts
2022-04-01
2023-03-31
09342502
bus:SmallCompaniesRegimeForAccounts
2022-04-01
2023-03-31
09342502
bus:PrivateLimitedCompanyLtd
2022-04-01
2023-03-31
09342502
core:UltimateParent
2022-04-01
2023-03-31
09342502
core:ImmediateParent
2022-04-01
2023-03-31
09342502
core:ImmediateParent
2021-04-01
2022-03-31
09342502
core:Associate1
2022-04-01
2023-03-31
09342502
core:ComputerEquipment
2022-04-01
2023-03-31
09342502
core:ImmediateParent
2023-03-31
09342502
core:ImmediateParent
2022-03-31
Company registration number:
09342502
WAIKATO MILKING SYSTEMS UK LIMITED
31 March 2023
HEYWOODS
Chartered Accountants
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
WAIKATO MILKING SYSTEMS UK LIMITED
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
WAIKATO MILKING SYSTEMS UK LIMITED
DIRECTORS AND OTHER INFORMATION
|
|
|
|
|
Directors |
|
|
|
|
Mr P D McGilvary |
(Resigned 31 May 2023) |
|
|
Mr A L Settle |
(Resigned 26 May 2023) |
|
|
Mr J C J Mikkelson |
|
|
|
Mr M Ramazzotti |
(Appointed 31 May 2023) |
|
|
|
|
|
|
|
|
|
Company number |
09342502 |
|
|
|
|
|
|
|
|
|
|
Registered office |
Countrywide House |
|
|
|
Knights Way |
|
|
|
Shrewsbury |
|
|
|
Shropshire |
|
|
|
SY1 3AB |
|
|
|
|
|
|
|
|
|
|
Business address |
Chard Junction |
|
|
|
Somerset |
|
|
|
TA20 4QN |
|
|
|
|
|
|
|
|
|
|
Accountants |
Heywoods |
|
|
|
Countrywide House |
|
|
|
Knights Way |
|
|
|
Shrewsbury |
|
|
|
Shropshire |
|
|
|
SY1 3AB |
|
|
|
|
|
WAIKATO MILKING SYSTEMS UK LIMITED
CHARTERED ACCOUNTANTS REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE
UNAUDITED STATUTORY FINANCIAL STATEMENTS OF WAIKATO MILKING SYSTEMS UK LIMITED
YEAR ENDED 31 MARCH 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Waikato Milking Systems UK Limited for the year ended 31 March 2023 which comprise the statement of financial position, statement of changes in equity 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Waikato Milking Systems UK Limited, as a body, in accordance with the terms of our engagement letter dated 18 May 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Waikato Milking Systems UK Limited and state those matters that we have agreed to state to the board of directors of Waikato Milking Systems UK Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Waikato Milking Systems UK Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Waikato Milking Systems UK 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 Waikato Milking Systems UK Limited. You consider that Waikato Milking Systems UK 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 Waikato Milking Systems UK 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.
Heywoods
Chartered Accountants
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
22 September 2023
WAIKATO MILKING SYSTEMS UK LIMITED
STATEMENT OF FINANCIAL POSITION
31 MARCH 2023
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Tangible assets |
|
5 |
41,053 |
|
|
|
47,857 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
41,053 |
|
|
|
47,857 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Stocks |
|
|
462,881 |
|
|
|
- |
|
|
Debtors |
|
6 |
420,855 |
|
|
|
240,319 |
|
|
Cash at bank and in hand |
|
|
74,733 |
|
|
|
25,527 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
958,469 |
|
|
|
265,846 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
7 |
(
1,412,165) |
|
|
|
(
734,070) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current liabilities |
|
|
|
|
(
453,696) |
|
|
|
(
468,224) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
(
412,643) |
|
|
|
(
420,367) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities |
|
|
|
|
(
7,800) |
|
|
|
(
8,759) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net liabilities |
|
|
|
|
(
420,443) |
|
|
|
(
429,126) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
100 |
|
|
|
100 |
Profit and loss account |
|
|
|
|
(
420,543) |
|
|
|
(
429,226) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders deficit |
|
|
|
|
(
420,443) |
|
|
|
(
429,126) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
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;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
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
15 September 2023
, and are signed on behalf of the board by:
Mr J C J Mikkelson
Director
Company registration number:
09342502
WAIKATO MILKING SYSTEMS UK LIMITED
STATEMENT OF CHANGES IN EQUITY
YEAR ENDED 31 MARCH 2023
|
|
Called up share capital |
|
Profit and loss account |
Total |
|
|
|
|
|
|
|
£ |
|
£ |
£ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 1 April 2021 |
|
100 |
|
(
356,188) |
(
356,088) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit/(loss) for the year |
|
|
|
(
73,038) |
(
73,038) |
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
Total comprehensive income for the year |
|
- |
|
(
73,038) |
(
73,038) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
At 31 March 2022 and 1 April 2022 |
|
100 |
|
(
429,226) |
(
429,126) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit/(loss) for the year |
|
|
|
8,683 |
8,683 |
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
Total comprehensive income for the year |
|
- |
|
8,683 |
8,683 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
At 31 March 2023 |
|
100 |
|
(
420,543) |
(
420,443) |
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
WAIKATO MILKING SYSTEMS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Countrywide House, Knights Way, Shrewsbury, Shropshire, SY1 3AB.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The Company is a wholly owned subsiduary of Waikato Milking Systems LLP, a business based in New Zealand. The company is insolvent and is dependant upon the continued support of the parent company.
Consolidation
The company has taken advantage of the exemption from preparing consolidated financial statements contained in Section 401 of the Companies Act 2006 on the basis that it is a subsidiary undertaking and its immediate parent undertaking is not established under the law of any part of the United Kingdom.
Turnover
Turnover is measured at the value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.
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:
|
|
|
|
|
|
Fittings fixtures and equipment |
- |
15 % |
reducing balance |
|
Motor vehicles |
- |
25 % |
reducing balance |
|
Computer equipment |
- |
33.3 % |
straight line |
|
|
|
|
|
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2022:
3
).
5.
Tangible assets
|
|
Fixtures, fittings and equipment |
Motor vehicles |
Total |
|
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 April 2022 |
1,663 |
70,428 |
72,091 |
|
|
|
|
|
Additions |
- |
6,600 |
6,600 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 31 March 2023 |
1,663 |
77,028 |
78,691 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 April 2022 |
170 |
24,064 |
24,234 |
|
|
|
|
|
Charge for the year |
438 |
12,966 |
13,404 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 31 March 2023 |
608 |
37,030 |
37,638 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 March 2023 |
1,055 |
39,998 |
41,053 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 31 March 2022 |
1,493 |
46,364 |
47,857 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
6.
Debtors
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Trade debtors |
|
414,053 |
197,464 |
|
Other debtors |
|
6,802 |
42,855 |
|
|
|
_______ |
_______ |
|
|
|
420,855 |
240,319 |
|
|
|
_______ |
_______ |
|
|
|
|
|
7.
Creditors: amounts falling due within one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Trade creditors |
|
498,850 |
274,007 |
|
Social security and other taxes |
|
22,475 |
13,371 |
|
Other creditors |
|
890,840 |
446,692 |
|
|
|
_______ |
_______ |
|
|
|
1,412,165 |
734,070 |
|
|
|
_______ |
_______ |
|
|
|
|
|
8.
Related party transactions
During the year the company entered into the following transactions with related parties:
|
|
Transaction value |
|
Balance owed by/(owed to) |
|
|
|
2023 |
2022 |
2023 |
2022 |
|
|
£ |
£ |
£ |
£ |
|
Purchases from Waikato Milking Systems LLP |
1,683,659 |
2,061,458 |
(
155,896) |
(
219,069) |
|
Sales Waikato Milking Systems LLP |
120,219 |
127,759 |
120,219 |
- |
|
Purchases Waikato Milking Systems Ireland |
1,181 |
- |
- |
- |
|
Sales Waikato Milking Systems Ireland
|
1,181 |
- |
- |
- |
|
Loan account Waikato Milking Systems LLP
|
- |
- |
(610,395) |
(347,869) |
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
The company made sales to and purchased goods from Waikato Milking Systems LLP as set out above.
9.
Controlling party
The company is a wholly owned subsiduary of Waikato Milking Systems Limited Partnership registered in New Zealand which was acquired by Interpump Group on the 1 June 2023.