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Registration number: 01418843

Wallside Holdings Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2023

 

Wallside Holdings Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 7

 

Wallside Holdings Limited

Company Information

Director

Mr D Antcliff

Company secretary

Mr D Antcliff

Registered office

Courtwood House
Silver Street Head
Sheffield
South Yorkshire
S1 2DD

Accountants

CHF Accountancy Limited
Courtwood House
Silver Street Head
Sheffield
South Yorkshire
S1 2DD

 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Wallside Holdings Limited
for the Year Ended 30 September 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 Wallside Holdings Limited for the year ended 30 September 2023 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Wallside Holdings Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Wallside Holdings Limited and state those matters that we have agreed to state to the Board of Directors of Wallside Holdings Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Wallside Holdings Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Wallside Holdings Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Wallside Holdings Limited. You consider that Wallside Holdings 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 accounts of Wallside Holdings 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 accounts.

......................................

CHF Accountancy Limited
Courtwood House
Silver Street Head
Sheffield
South Yorkshire
S1 2DD

27 November 2023

 

Wallside Holdings Limited

(Registration number: 01418843)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

-

3,600

Cash at bank and in hand

 

1,512

1,159

 

1,512

4,759

Creditors: Amounts falling due within one year

5

(168)

(3,602)

Net assets

 

1,344

1,157

Capital and reserves

 

Called up share capital

6

1,050,000

1,050,000

Retained earnings

(1,048,656)

(1,048,843)

Shareholders' funds

 

1,344

1,157

For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 27 November 2023
 

.........................................
Mr D Antcliff
Company secretary and director

 

Wallside Holdings Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Courtwood House
Silver Street Head
Sheffield
South Yorkshire
S1 2DD
United Kingdom

These financial statements were authorised for issue by the director on 27 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

 

Wallside Holdings Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 September 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 0).

4

Debtors

Current

Note

2023
£

2022
£

Amounts owed by related parties

7

-

3,600

 

Wallside Holdings Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 September 2023

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

7

121

-

Taxation and social security

 

44

-

Accruals and deferred income

 

3

3,602

 

168

3,602

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

1,050,000

1,050,000

1,050,000

1,050,000

         
 

Wallside Holdings Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 September 2023

7

Related party transactions

Loans from related parties

2023

Parent
£

Total
£

At start of period

(3,600)

(3,600)

Advanced

3,721

3,721

At end of period

121

121

2022

Parent
£

Total
£

At start of period

1,986,742

1,986,742

Advanced

30,356

30,356

Repaid

(1,720,000)

(1,720,000)

Impairment

(300,698)

(300,698)

At end of period

(3,600)

(3,600)

8

Parent and ultimate parent undertaking

The company's immediate parent is Motorway Direct Limited, incorporated in England and Wales.

 The ultimate parent is Car Protect Holdings Limited, incorporated in Gibraltar.

 The most senior parent entity producing publicly available financial statements is Motorway Direct Limited.The ultimate controlling party is the Board of Directors of Motorway Direct Limited.