WMM HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2022
Company Registration Number: 03720036
WMM HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
CONTENTS PAGES
Company information 1
Balance sheet 2
Notes to the financial statements 3 to 6
WMM HOLDINGS LIMITED
COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022
DIRECTORS
B Knight
resigned 11 August 2023
A J Knight
resigned 11 August 2023
S Evans
appointed 11 August 2023
SECRETARY
The company does not have an appointed secretary
REGISTERED OFFICE
1 Bell Yard
London
England
WC2A 2JR
COMPANY REGISTRATION NUMBER
03720036 England and Wales
WMM HOLDINGS LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2022
Notes 2022 2021
£ £
FIXED ASSETS
Investments 5 55,026 55,026
CURRENT ASSETS
Debtors 6 35,668 35,939
CREDITORS: Amounts falling due within one year 7 37,423 35,886
NET CURRENT (LIABILITIES) / ASSETS (1,755) 53
NET ASSETS 53,271 55,079
CAPITAL AND RESERVES
Called up share capital 55,026 55,026
Distributable profit and loss account (1,755) 53
SHAREHOLDERS' FUNDS 53,271 55,079
These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
For the financial year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.
Signed on behalf of the board
S Evans
Director
Date approved by the board: 28 September 2023
WMM HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
1 GENERAL INFORMATION
WMM Holdings Limited is a private company limited by shares and incorporated in England and Wales. Its registered office and principal place of business are:
Registered office Principal place of business
1 Bell Yard The Stableblock
London Castle Farm
England Clifton Road
WC2A 2JR Deddington
Oxon
OX15 0TP
The financial statements are presented in Sterling, which is the functional currency of the company.
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of preparation of financial statements
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
Investments
Investments in subsidiaries are shown at cost less accumulated impairment losses.
Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.
The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
WMM HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
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 subsequently at amortised cost, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 taxable profits.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Current and deferred tax assets and liabilities are not discounted.
Consolidation
The company is a parent company subject to the small companies regime. The company and its subsidiary comprise a small group. The company has therefore taken advantage of the option provided by section 399 of the Companies Act 2006 not to prepare group accounts.
3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
No significant accounting estimates and judgements have had to be made by the directors in preparing these financial statements.
WMM HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
4 EMPLOYEES
The average number of persons employed by the company (including directors) during the year was:
2022 2021
Average number of employees 2 2
5 FIXED ASSET INVESTMENTS
Investment in subsidiary
£
Cost
At 1 January 2022 55,026
At 31 December 2022 55,026
Net book value
At 1 January 2022 55,026
At 31 December 2022 55,026
6 DEBTORS
2022 2021
£ £
Other debtors 35,668 35,939
7 CREDITORS: Amounts falling due within one year
2022 2021
£ £
Trade creditors 1,524 720
Taxation and social security - 3,509
Amounts owed to group undertakings 35,598 31,357
Accruals and deferred income 301 300
37,423 35,886
WMM HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
8 DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
The following director's advances, credits and guarantees took place during the year
Balance at 1 January 2022 Amounts advanced Amounts repaid Balance at 31 December 2022
£ £ £ £
B & A J Knight 10,796 10,798 - 21,594
Interest has been charged on this advance at the Beneficial Loan Arrangement Official Rate as prescribed by HM Revenue and Customs. The advance is repayable on demand.
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