Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31truefalseNo description of principal activity2022-04-011110trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05976380 2022-04-01 2023-03-31 05976380 2021-04-01 2022-03-31 05976380 2023-03-31 05976380 2022-03-31 05976380 c:Director1 2022-04-01 2023-03-31 05976380 d:PlantMachinery 2022-04-01 2023-03-31 05976380 d:PlantMachinery 2023-03-31 05976380 d:PlantMachinery 2022-03-31 05976380 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 05976380 d:OfficeEquipment 2022-04-01 2023-03-31 05976380 d:OfficeEquipment 2023-03-31 05976380 d:OfficeEquipment 2022-03-31 05976380 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 05976380 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 05976380 d:CurrentFinancialInstruments 2023-03-31 05976380 d:CurrentFinancialInstruments 2022-03-31 05976380 d:Non-currentFinancialInstruments 2023-03-31 05976380 d:Non-currentFinancialInstruments 2022-03-31 05976380 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 05976380 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 05976380 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 05976380 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 05976380 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 05976380 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-31 05976380 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 05976380 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-03-31 05976380 d:ShareCapital 2023-03-31 05976380 d:ShareCapital 2022-03-31 05976380 d:RetainedEarningsAccumulatedLosses 2023-03-31 05976380 d:RetainedEarningsAccumulatedLosses 2022-03-31 05976380 c:FRS102 2022-04-01 2023-03-31 05976380 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 05976380 c:FullAccounts 2022-04-01 2023-03-31 05976380 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 05976380 2 2022-04-01 2023-03-31 05976380 6 2022-04-01 2023-03-31 05976380 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 05976380 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 05976380 d:RetirementBenefitObligationsDeferredTax 2023-03-31 05976380 d:RetirementBenefitObligationsDeferredTax 2022-03-31 iso4217:GBP xbrli:pure

Registered number: 05976380










WEBSTERS OF NORWICH LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
WEBSTERS OF NORWICH LTD
REGISTERED NUMBER:05976380

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
10,898
16,067

Investments
 5 
357,519
296,532

  
368,417
312,599

Current assets
  

Debtors: amounts falling due within one year
 6 
55,892
155,523

Cash at bank and in hand
  
103,989
110,583

  
159,881
266,106

Creditors: amounts falling due within one year
 7 
(162,278)
(176,375)

Net current (liabilities)/assets
  
 
 
(2,397)
 
 
89,731

Total assets less current liabilities
  
366,020
402,330

Creditors: amounts falling due after more than one year
 8 
(250,792)
(272,855)

Provisions for liabilities
  

Deferred tax
 10 
(1,923)
(4,017)

  
 
 
(1,923)
 
 
(4,017)

Net assets
  
113,305
125,458


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
112,305
124,458

  
113,305
125,458


Page 1

 
WEBSTERS OF NORWICH LTD
REGISTERED NUMBER:05976380
    
STATEMENT OF FINANCIAL POSITION (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 income statement 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 by: 




................................................
C J M Webster
Director

Date: 10 November 2023


The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
WEBSTERS OF NORWICH LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Websters of Norwich Ltd is a private company limited by shares and incorporated in England and Wales, registration number 05976380. The registered office is 141 Unthank Road, Norwich, Norfolk, NR2 2PE.

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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. 
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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

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.

Page 3

 
WEBSTERS OF NORWICH LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

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:

Plant & machinery
-
25%
straight line
Office equipment
-
25%
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.

 
2.4

Valuation of 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. 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.

 
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

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Income statement in the same period as the related expenditure.

Page 4

 
WEBSTERS OF NORWICH LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.9

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.

 
2.10

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.

 
2.11

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.12

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.13

Borrowing costs

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

 
2.14

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

Page 5

 
WEBSTERS OF NORWICH LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.15

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss 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 reporting 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 reporting 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 reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 11 (2022 - 10).

Page 6

 
WEBSTERS OF NORWICH LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Plant & machinery
Office equipment
Total

£
£
£



Cost or valuation


At 1 April 2022
112,228
22,670
134,898


Additions
-
5,519
5,519



At 31 March 2023

112,228
28,189
140,417



Depreciation


At 1 April 2022
108,110
10,721
118,831


Charge for the year on owned assets
4,118
6,570
10,688



At 31 March 2023

112,228
17,291
129,519



Net book value



At 31 March 2023
-
10,898
10,898



At 31 March 2022
4,118
11,949
16,067

Page 7

 
WEBSTERS OF NORWICH LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2022
347,836


Additions
106,412



At 31 March 2023

454,248



Impairment


At 1 April 2022
51,304


Charge for the period
45,425



At 31 March 2023

96,729



Net book value



At 31 March 2023
357,519



At 31 March 2022
296,532

Page 8

 
WEBSTERS OF NORWICH LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Debtors

2023
2022
£
£


Other debtors
25,413
153,212

Prepayments and accrued income
3,582
2,311

Tax recoverable
26,897
-

55,892
155,523



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
103,063
76,028

Trade creditors
2,268
11,464

Amounts owed to group undertakings
2,723
7,544

Corporation tax
14,884
9,341

Other taxation and social security
33,295
28,408

Other creditors
1,419
40,087

Accruals and deferred income
4,626
3,503

162,278
176,375


The following liabilities were secured:

2023
2022
£
£



Bank Loan
103,063
76,828

103,063
76,828

Details of security provided:

Fixed and floating charge over all the property or undertaking of the company.

Page 9

 
WEBSTERS OF NORWICH LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
250,792
272,855

250,792
272,855


The following liabilities were secured:

2023
2022
£
£



Bank loans
250,792
272,855

250,792
272,855

Details of security provided:

Fixed and floating charge over all the property or undertaking of the company.

Page 10

 
WEBSTERS OF NORWICH LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
103,063
76,028


103,063
76,028

Amounts falling due 1-2 years

Bank loans
103,063
124,985


103,063
124,985

Amounts falling due 2-5 years

Bank loans
147,729
147,870


147,729
147,870


353,855
348,883



10.


Deferred taxation




2023


£






At beginning of year
(4,017)


Charged to profit or loss
2,094



At end of year
(1,923)

Page 11

 
WEBSTERS OF NORWICH LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
 
10.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(2,277)
(4,017)

Pension surplus
354
-

(1,923)
(4,017)


11.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £6,549 (2022: £7,424). Contributions totalling £1,419 (2022: £1,495) were payable to the fund at the reporting date and are included in creditors.


12.


Related party transactions

At the year end the company had transactions with related parties as show in the table below.


2023
2022
£
£

N R Homes (Norfolk) Limited - Owed to / (from)
(11,148)
38,592
First Lettings (Norwich) Limited - Owed to / (from)
-
2,820
Webster Holdings (Norfolk) Limited - Owed to / (from)
2,723
4,724
(8,425)
46,136


13.


Controlling party

The company is controlled by Webster Holdings (Norfolk) Limited by virtue of its 100% shareholding.

 
Page 12