Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31false2022-04-0122truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07105249 2022-04-01 2023-03-31 07105249 2021-04-01 2022-03-31 07105249 2023-03-31 07105249 2022-03-31 07105249 c:Director1 2022-04-01 2023-03-31 07105249 d:CurrentFinancialInstruments 2023-03-31 07105249 d:CurrentFinancialInstruments 2022-03-31 07105249 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07105249 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 07105249 d:ShareCapital 2023-03-31 07105249 d:ShareCapital 2022-03-31 07105249 d:RetainedEarningsAccumulatedLosses 2023-03-31 07105249 d:RetainedEarningsAccumulatedLosses 2022-03-31 07105249 d:TaxLossesCarry-forwardsDeferredTax 2023-03-31 07105249 d:TaxLossesCarry-forwardsDeferredTax 2022-03-31 07105249 c:OrdinaryShareClass1 2022-04-01 2023-03-31 07105249 c:OrdinaryShareClass1 2023-03-31 07105249 c:OrdinaryShareClass1 2022-03-31 07105249 c:OrdinaryShareClass2 2022-04-01 2023-03-31 07105249 c:OrdinaryShareClass2 2023-03-31 07105249 c:OrdinaryShareClass2 2022-03-31 07105249 c:FRS102 2022-04-01 2023-03-31 07105249 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 07105249 c:FullAccounts 2022-04-01 2023-03-31 07105249 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 07105249 2 2022-04-01 2023-03-31 07105249 6 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 07105249









WEE FERLIE LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
WEE FERLIE LIMITED
REGISTERED NUMBER: 07105249

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
-
54,335

  
-
54,335

Current assets
  

Debtors: amounts falling due within one year
 5 
680
22,036

Cash at bank and in hand
  
281,755
305,430

  
282,435
327,466

Creditors: amounts falling due within one year
 6 
(3,410)
(6,055)

Net current assets
  
 
 
279,025
 
 
321,411

Total assets less current liabilities
  
279,025
375,746

  

Net assets
  
279,025
375,746


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
278,925
375,646

  
279,025
375,746


Page 1

 
WEE FERLIE LIMITED
REGISTERED NUMBER: 07105249

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

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 year 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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 income and retained earnings 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 12 November 2023.




Mr P Bishop
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
WEE FERLIE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Wee Ferlie Limited is a company limited by shares incorporated in England within the United Kingdom. The address of the registered office is given in the company information page of these accounts. The principal activity of the company continued to be that of management consultancy. The company is not part of a group.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

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.

  
2.3

Expenses

Expenses represent amounts payable for goods and services provided to the company net of recoverable VAT.

 
2.4

Investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
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.

Page 3

 
WEE FERLIE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.7

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.

 
2.8

Creditors

Short-term creditors are measured at the transaction price.

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.10

Interest income

Interest income is recognised in the Statement of Income and Retained Earnings using the effective interest method.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 4

 
WEE FERLIE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Fixed asset investments





Investments in associates

£





At 1 April 2022
54,335


Disposals
(54,335)



At 31 March 2023
-





5.


Debtors

2023
2022
£
£


Amounts owed by undertakings in which the company has a participating interest
380
20,437

Other debtors
300
-

Deferred taxation
-
1,599

680
22,036



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
-
3,097

Other creditors
-
120

Accruals and deferred income
3,410
2,838

3,410
6,055


Page 5

 
WEE FERLIE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Deferred taxation




2023


£






At beginning of year
1,599


Charged to profit or loss
(1,599)



At end of year
-

The deferred tax asset is made up as follows:

2023
2022
£
£


Tax losses carried forward
-
1,599

-
1,599


8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



51 (2022 - 51) Ordinary "A" shares of £1.00 each
51
51
49 (2022 - 49) Ordinary "B" shares of £1.00 each
49
49

100

100



9.


Related party transactions

The Company retired as a corporate member of THIS Partners LLP on 31 March 2022 and received a profit share of £- (2022 - £64,773) for the year ending 31 March 2023. 
During the year, the Company operated a loan account with the corporate member. The balance owed to the Company at the year end was £380 (2022 - £20,437).
The Company also operated a loan account with it's directors. The balance owed to the Company at the year end was £300 (2022 - £-). Both loans are interest free and repayable on demand.
 


Page 6