Caseware UK (AP4) 2022.0.179 2022.0.179 2023-04-302023-04-30falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.22021-11-11No description of principal activityfalsetrue 13737328 2021-11-10 13737328 2021-11-11 2023-04-30 13737328 2020-11-11 2021-11-10 13737328 2023-04-30 13737328 c:Director1 2021-11-11 2023-04-30 13737328 d:FurnitureFittings 2021-11-11 2023-04-30 13737328 d:FurnitureFittings 2023-04-30 13737328 d:FurnitureFittings d:OwnedOrFreeholdAssets 2021-11-11 2023-04-30 13737328 d:FreeholdInvestmentProperty 2021-11-11 2023-04-30 13737328 d:FreeholdInvestmentProperty 2023-04-30 13737328 d:CurrentFinancialInstruments 2023-04-30 13737328 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 13737328 d:ShareCapital 2023-04-30 13737328 d:RetainedEarningsAccumulatedLosses 2023-04-30 13737328 c:OrdinaryShareClass1 2021-11-11 2023-04-30 13737328 c:OrdinaryShareClass1 2023-04-30 13737328 c:FRS102 2021-11-11 2023-04-30 13737328 c:AuditExempt-NoAccountantsReport 2021-11-11 2023-04-30 13737328 c:FullAccounts 2021-11-11 2023-04-30 13737328 c:PrivateLimitedCompanyLtd 2021-11-11 2023-04-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 13737328









WTSZ LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 APRIL 2023

 
WTSZ LTD
REGISTERED NUMBER: 13737328

BALANCE SHEET
AS AT 30 APRIL 2023

2023
Note
£

Fixed assets
  

Tangible assets
 4 
7,074

Investment property
 5 
224,884

  
231,958

Current assets
  

Cash at bank and in hand
 6 
5,958

  
5,958

Creditors: amounts falling due within one year
 7 
(239,239)

Net current (liabilities)/assets
  
 
 
(233,281)

Total assets less current liabilities
  
(1,323)

  

Net (liabilities)/assets
  
(1,323)


Capital and reserves
  

Called up share capital 
 8 
100

Profit and loss account
  
(1,423)

  
(1,323)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the Period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 6 November 2023.




Page 1

 
WTSZ LTD
REGISTERED NUMBER: 13737328
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2023

W Tracz
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
WTSZ LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

1.


General information

WTSZ Ltd is a private company limited by shares and incorporated in England and Wales (registered number 13737328). The registered office address is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH.
The company was incorporated on 11 November 2021 and began trading on the same date.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis. The company is dependent on the directors and shareholders for financial support, which the directors are confident will continue for a period of at least another 12 months following the approval of these financial statements.
 
As at 30 April 2023, the company had net liabilities of £1,323. The directors and shareholders have indicated their present intention to provide adequate finance to enable the company to continue in operational existence, and on this basis the directors consider it appropriate to prepare the financial statements on the going concern basis.
 
The financial statements do not reflect any adjustments that would result from a withdrawal of financial support by the directors and shareholders.

Page 3

 
WTSZ LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.3

Revenue

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.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%
straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 4

 
WTSZ LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.6

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.

 
2.7

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.

 
2.8

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.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Investments in non-derivative instruments that are equity to the issuer are measured:
at fair value with changes recognised in the Statement of Comprehensive Income if the shares are publicly traded or their fair value can otherwise be measured reliably;
at cost less impairment for all other investments.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when
Page 5

 
WTSZ LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

2.Accounting policies (continued)


2.8
Financial instruments (continued)

there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or income as appropriate. The company does not currently apply hedge accounting for interest rate and foreign exchange derivatives.


3.


Employees

The average monthly number of employees, including the directors, during the Period was as follows:


     Period ended
       30 April
        2023
            No.






Average number of employees, including directors.
2


4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


Additions
8,201



At 30 April 2023

8,201



Depreciation


Charge for the Period on owned assets
1,127



At 30 April 2023

1,127



Net book value



At 30 April 2023
7,074

Page 6

 
WTSZ LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

5.


Investment property


Freehold investment property

£



Valuation


Additions at cost
224,884



At 30 April 2023
224,884

The 2023 valuations were made by the directors, on an open market value for existing use basis.





If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
£


Historic cost
233,085

233,085


6.


Cash and cash equivalents

2023
£

Cash at bank and in hand
5,958

5,958



7.


Creditors: Amounts falling due within one year

2023
£

Other creditors
237,139

Accruals and deferred income
2,100

239,239


Page 7

 
WTSZ LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

8.


Share capital

2023
£
Allotted, called up and fully paid


100 Ordinary shares of £1.00 each
100


On 11 November 2021, the day of incorporation, 100 Ordinary shares of £1 was issued and fully paid.

 
Page 8