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COMPANY REGISTRATION NUMBER: 11453291
Wainwright Holdings UK Ltd
Filleted Unaudited Financial Statements
31 July 2023
Wainwright Holdings UK Ltd
Financial Statements
Year ended 31 July 2023
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
4
Wainwright Holdings UK Ltd
Officers and Professional Advisers
The board of directors
Mr A Da Silva Corkill
Mr R Wainwright
Registered office
Twin Acres Hulme Hall Lane
Allostock
Knutsford
WA16 9JN
Accountants
Gort and March
Chartered accountants
320 London Road
Hazel Grove
Stockport
Cheshire
SK7 4RF
Wainwright Holdings UK Ltd
Statement of Financial Position
31 July 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
976,599
742,230
Current assets
Debtors
6
45,437
36,541
Cash at bank and in hand
197,626
169,263
---------
---------
243,063
205,804
Creditors: amounts falling due within one year
7
81,092
78,857
---------
---------
Net current assets
161,971
126,947
------------
---------
Total assets less current liabilities
1,138,570
869,177
Creditors: amounts falling due after more than one year
8
365,250
396,733
Accruals and deferred income
513
------------
---------
Net assets
773,320
471,931
------------
---------
Capital and reserves
Called up share capital
2
2
Revaluation reserve
222,200
Profit and loss account
551,118
471,929
---------
---------
Shareholder funds
773,320
471,931
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Wainwright Holdings UK Ltd
Statement of Financial Position (continued)
31 July 2023
These financial statements were approved by the board of directors and authorised for issue on 6 December 2023 , and are signed on behalf of the board by:
Mr A Da Silva Corkill
Director
Company registration number: 11453291
Wainwright Holdings UK Ltd
Notes to the Financial Statements
Year ended 31 July 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Twin Acres Hulme Hall Lane, Allostock, Knutsford, WA16 9JN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
For the period ending 31st July 2023 the property has been revalued by the director using similar properties in the area.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
15% straight line
Equipment
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2022: 3 ).
5. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Equipment
Total
£
£
£
£
£
Cost or valuation
At 1 August 2022
677,800
126,783
987
805,570
Additions
10,000
24,733
34,733
Revaluations
222,200
222,200
---------
---------
--------
----
------------
At 31 July 2023
900,000
136,783
24,733
987
1,062,503
---------
---------
--------
----
------------
Depreciation
At 1 August 2022
62,682
658
63,340
Charge for the year
18,525
3,710
329
22,564
---------
---------
--------
----
------------
At 31 July 2023
81,207
3,710
987
85,904
---------
---------
--------
----
------------
Carrying amount
At 31 July 2023
900,000
55,576
21,023
976,599
---------
---------
--------
----
------------
At 31 July 2022
677,800
64,101
329
742,230
---------
---------
--------
----
------------
6. Debtors
2023
2022
£
£
Trade debtors
44,965
24,240
Other debtors
472
12,301
--------
--------
45,437
36,541
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
14,968
4,944
Corporation tax
30,808
34,803
Social security and other taxes
15,186
5,974
Other creditors - Wainwright Tree Stumps
1,043
3,974
Other creditors - Wainwright Timber
3,060
Other creditors
19,087
26,102
--------
--------
81,092
78,857
--------
--------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
365,250
396,733
---------
---------
9. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr A Da Silva Corkill
( 3,309)
( 312)
( 3,621)
Mr R Wainwright
( 1,470)
( 1,096)
( 2,566)
-------
-------
-------
( 4,779)
( 1,408)
( 6,187)
-------
-------
-------
2022
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr A Da Silva Corkill
( 2,997)
( 312)
( 3,309)
Mr R Wainwright
( 1,138)
( 332)
( 1,470)
-------
----
-------
( 4,135)
( 644)
( 4,779)
-------
----
-------
10. Related party transactions
Within Other Creditors is an amount due to a related party; Wainwright Tree Stumps Removal Ltd £ 1,042.99 (2022: £ 3,973.79 ). Mr A Da Silva Corkill owns 50% of the share capital of Wainwright Holdings UK Ltd and 100% of the share capital of Wainwright Tree Stump Removal Ltd. Within Other Creditors is an amount due to a related party; Wainwright Timber Ltd of £Nil (2022: £ 3,060 ). Mr R Wainwright own 100% of the share capital of Wainwright Timber Ltd. Within Other Debtors is an amount owed by a related party; Wainwright Film and TV Services Ltd £ 472 (2022: £ 297 ) Mr A D Silva Corkill and Mr R Wainwright each own 50% of the share capital of Wainwright Film and TV Services Ltd